COVID-19 could affect CPE reporting deadlines.
The National Association of State Boards of Accountancy (NASBA) on Tuesday announced that it was recommending state boards of accountancy across the country extend their CPE-completion deadlines to accommodate accountants affected by COVID-19 disruptions. This development comes on the heels of federal, state, and local governments implementing a number of public safety measures designed to reduce the spread of the coronavirus.
NASBA recommended extending current CPE deadlines to October 31, 2020. “If a CPA’s reporting period ended on March 31, 2020, the licensee would have until October 31, 2020, to complete the CPE requirements for that reporting period,” NASBA explained. “Similarly, if a CPA’s reporting period ended on June 30, 2020, the licensee would have until October 31, 2020, to complete the required CPE.”
As an advocacy and advisory group for state boards of accountancy, NASBA notes in the press release that it does not hold regulatory authority over those bodies. While individual boards of accountancy will make their own determinations concerning CPE deadlines for current and pending licensees, NASBA committed to cataloguing which states extend their CPE deadlines.
In the announcement, NASBA noted that their office—located in Nashville, TN—has already transitioned to remote work, underscoring the challenges faced by businesses across the country.
Source: “CPE Reporting Grace Period Due to COVID-19 – NASBA Recommendations”