Regulations Governing CPA Continuing Professional Education Article 5

CPA continuing professional education is calculated in continuing professional education hours (CPE hours), which are recorded and maintained in files by the NFCPAA Professional Education Committee. The number of CPE hours taken each year may not be less than 40 hours, among which the CPE hours under subparagraphs 1 and 2 of the preceding article may not be less than 14 hours; and also among which, the CPE hours in laws and regulations and practice related to anti-money laundering and countering the financing of terrorism under subparagraph 12 of Article 3 may not be less than 3 hours.For CPAs that do not perform financial attestation for public companies, the annual requirements for the minimum number of 40 CPE hours and among those the minimum number of 14 CPE hours under subparagraphs 1 and 2 of the preceding article are reduced by one-half.The requirements regarding minimum numbers of CPE hours under the preceding two paragraphs do not apply during the year in which a CPA's first application for practice registration is made.A CPA may not take less than 3 hours every two years of CPE in the subject of the CPA code of professional ethics under Article 3, subparagraph 2, administered by an administering institution under subparagraph 1, 2, or 8 of the preceding article.In any case of uncompleted CPE hours to be made up which were incurred prior to the enforcement of the amendment to this article, the number of make-up hours required shall be calculated according to the provisions prior to enforcement of the amendment.When there are uncompleted CPE hours to be made up, CPE hours taken during the new year shall first be counted toward the previously required make-up hours.