With all the changes COVID-19 has brought, we understand you may have questions and concerns regarding continuing education offered by the Society, click here to learn more.
As a professional organization, the OSCPA does not set or regulate the requirements to become a CPA. These requirements are set by individual state laws and are managed by that state's board of accountancy.
Oklahoma CPE Requirements Quick Reference
- General Reporting Guidelines
- Calculating CPE Credit
- Ethics
- Compilation
- Self-Study
- Yellow Book
- Contacting the Oklahoma Accountancy Board
General Reporting Guidelines
It is important to look not only at the current reporting year, but also consider the rolling three-year reporting period. In order to stay compliant with the Oklahoma Accountancy Board (OAB), CPAs must meet the following requirements:
- A minimum of 20 hours must be reported in any single calendar year
- A minimum of 120 hours must be reported in each rolling three-year period
- A minimum of 4 hours of Ethics must be earned in each rolling three-year period
- Specific requirements may apply if you are involved in compilation engagements
- Specific requirements if you hold a permit for public practice and work in industry:
- At least 72 hours of the 120 hours for each rolling three-year period must be in subjects related to the practice of public accounting
- At least 8 hours per calendar year must be in the areas of taxation, assurance or accounting
More information about Oklahoma CPE requirements can be found on the Oklahoma Accountancy Board CPE website, or by contacting the OAB at (405) 521-2397. The full Oklahoma Administrative Code can also be accessed from the OAB's website.
Calculating CPE credit
One CPE credit, or CPE hour, is equivalent to one 50-minute period of participation in a CPE program. One-half CPE credit increments (equal to 25 minutes) are permitted after the first full credit has been earned.
If a participant arrives late, leaves early or is otherwise not present for an entire CPE program, CPE credit will only be issued for the actual time attended by the participant. Partial credit hours will be rounded down to the closest half credit. CPE certificates issued by the OSCPA will reflect adjusted CPE credit.
Ethics
Four hours of professional ethics must be earned in each rolling three-year period. Oklahoma does not have a state-specific ethics course requirement.
CPAs applying for an initial permit and those applying to renew a lapsed permit must complete the AICPA ethics course, Professional Ethics: The AICPA's Comprehensive Course, with a 90 percent passing score.
Compilation
CPAs actively involved in the supervision or review of compilation engagements must complete a minimum of four hours of CPE covering the subject area of compilation engagements during each calendar year. This requirement is waived if (1) the CPA works for a public accounting firm currently enrolled in the AICPA Peer Review program, or (2) the CPA is a sole practitioner enrolled in the AICPA peer review program. CPE courses must contain four hours of compilation only material. Check out our live seminar, webcast and on-demand course offerings that fulfill this requirement.
Self-Study
Self-study or On-Demand courses require completion of a final examination with a minimum passing score of at least 70 percent in order to obtain CPE credit. The Oklahoma Accountancy Board does not currently restrict how many CPE credits a CPA can earn via self-study courses on an annual basis.
Yellow Book
Yellow Book CPE requirements are outlined by the Government Accountability Office (GAO), specifically in the GAO's Guidance on GAGAS Requirements for Continuing Professional Education. Auditors performing work under GAGAS, including those planning, directing or performing field work, or those reporting on an audit or attestation engagement under GAGAS, need to complete the following requirements every two years:
- At least 80 hours of CPE that directly enhances the auditor's professional proficiency to perform audits or attestation engagements, with a minimum of 20 hours in any one year of the two-year period
- At least 24 of the 80 CPE hours should be in subjects directly related to governmental auditing, the government environment or the specific or unique environment in which the audited entity operates
Exception: Auditors performing work under GAGAS who are only involved in performing fieldwork but are not involved in planning, directing or reporting on audit or attestation engagements, and who charge less than 20 percent of their time annually to GAGAS audits and attestation engagements, should complete the following requirement every two years:
- At least 24 hours of CPE in subjects directly related to governmental auditing, the government environment or the specific or unique environment in which the audited entity operates. Auditors are exempt from the remainder of the 80-hour CPE requirement.
In all cases, auditors should use their professional judgement when determining and documenting if a CPE course qualifies for Yellow Book in accordance with the GAO Government Auditing Standards.
More information can be found on the GAO website or on the OAB's Yellow Book webpage.
Contacting the Oklahoma Accountancy Board
Contact the Oklahoma Accountancy Board for questions regarding:
- Continuing education requirements for Oklahoma CPAs and Oklahoma firms
- Continuing education requirements to practice public accounting in Oklahoma
- Obtaining a reciprocal certificate or PA license in Oklahoma
- Adhering to requirements as a CPE sponsor
If you are seeking continuing education requirements about another jurisdiction, click here. Questions about continuing education compliance should be directed to the Board of Accountancy of the state in which you plan to practice or provide services.
For questions related to AICPA CPE requirements, contact the AICPA at (888) 247-3277.