ABO takes up 150-hour requirement, other issues

Written on May 01, 2020

OSCPA staff report

Actions of the Accountancy Board of Ohio, the State of Ohio government entity charged with licensing, regulating, and – when necessary – disciplining CPAs, can significantly affect the practice of all CPAs. That’s why OSCPA represents the profession at every ABO meeting and shares the most recent information in our Professional Standards and Responsibilities programs.

Key discussion items at the Dec. 2-3 meeting included:

  • Ohio is one of a few remaining states that requires 150 hours of college education before sitting for the CPA exam. While reaffirming its commitment to 150 hours for licensure, OSCPA reviewed current efforts to permit sitting for the exam in Ohio with 120 hours of college education and noted that OSCPA-backed legislation will soon be introduced to enable this change.
  • ABO members deliberated proposed revisions to the peer review rules. A key question is whether the ABO should enact additional discipline for certain peer review results.
  • The ABO reviewed its requirements for its educational assistance scholarships. Because of high financial assistance demand by students and limited financial resources in the scholarship fund, additional criteria are being considered, such as limiting the awards to certain courses of study, limiting to Ohio CPA candidates, or a time range to complete the education. Currently, CPAs are assessed $10 a year for this fund, paid as part of their triennial permit renewal.
  • An initial random selection has been made for CPE audits. Use of NASBA’s CPE Compliance Services will ease the performance of document review for audits. Any courses taken from OSCPA will be automatically uploaded to the NASBA tracker site, unlike courses taken elsewhere.

Formal disciplinary hearings included:

  • Failure to renew an individual license to practice received a license revocation, which was stayed pending submission of CPE evidence and payment of a fine of $500 plus $10 per credit hour not completed by the end of the license period.
  • A CPA who was not able to support hours reported in a CPE audit was charged with fraud or deceit in obtaining a CPA certificate. The CPA’s license was revoked, but the revocation was stayed pending payment of a fine of $1,000 plus $10 per credit hour not supported by the end of the license period.
  • A reinstatement request after meeting all provisions of court ordered requirements after a felony conviction was granted.
  • No action was taken on a reinstatement request after a revocation in which the CPA had submitted falsified CPE records.
  • A CPA’s license was revoked who failed to respond to a CPE audit request or notice of hearing.

Of note for anyone who is audited and can’t locate proof of their 120 hours: reach out to the ABO for assistance on how best to proceed and tips for tracking down providers, etc. They can be reached at 614.466.4135.

The next meeting of the ABO is scheduled for Feb. 7.

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