If you do, you may be subject to prosecution for fraud. If your license is revoked, you cannot practice accountancy as a CPA. However you may need to pay a fine and/or complete extra CPE hours to be reinstated. You won’t necessarily be disciplined if you didn’t behave unethically. You may receive a temporary suspension, be placed on inactive status, or have your license revoked altogether. Just as the requirements for maintaining a license vary by state, so do the consequences for failing to meet them. These specific requirements can change from year to year. Additionally, some states have specific requirements regarding what topics must be covered during these courses. However, CPAs must spend around 40 hours a year on these courses. It’s not difficult to find courses that provide CPE credit.
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If you let your credentials lapse, depending on the rules of your jurisdiction, you may have to apply for reinstatement for an active license.įinally, the most difficult ongoing obligation for many CPAs is the continuing professional education, or CPE, requirement. Failing to turn in the paperwork and pay the appropriate fee on time may get your license suspended or reduced to inactive status. Failing to file a yearly tax return or committing tax fraud will also have these consequences.Īdditionally, all jurisdictions require CPAs to renew their licenses, usually every two to three years.
If you violate these standards, even if you don’t commit any criminal activity, your license may be revoked. All jurisdictions have ethical standards that CPAs must adhere to. Each of the 55 state or jurisdictional boards of accountancy sets its own standards, though they’re often similar. Requirements for Keeping Your License ActiveĪs with most things CPA, licensure requirements vary by state. Life doesn’t always go as planned, and you may find yourself needing a CPA license reinstatement. If you don’t, your license will expire or even be suspended or revoked. Fortunately, you won’t have to take the exam again, but you will need to maintain certain standards to keep an active license. As you probably know, your professional obligations don’t end once you’ve earned your CPA license.