LARA Streamlines Process for 2014 Accountancy License Renewals

Contact: LARA Communications 517-373-9280
Agency: Licensing and Regulatory Affairs

Coursework must be completed June 30; hours must be reported by July 31.

June 5, 2013 - Effective for the 2013 renewal cycle, the Department of Licensing and Regulatory Affairs (LARA) Corporations, Securities & Commercial Licensing (CSCL) Bureau has streamlined the reporting of continuing professional education (CPE) and Peer Review with the renewal process. Going forward, CPE reporting, Peer Review reporting, and license renewal must be completed by July 31, 2013. The license renewal fee paid by July 31, 2013 will be for the license taking effect January 1, 2014.

 

The two-year license period has not changed. Licenses will still expire December 31 of odd years. Once renewed, the new license or registration will expire on December 31, 2015.  Please note the new license will not be issued immediately, but will be generated prior to December 31, 2013 if a timely renewal was submitted and all renewal requirements have been met. Licensees may continue providing services under their current license until it expires. Registrations are valid until expiration. 

 

Renewal Fees:            License Type                           Fee

                                    Registered CPA                      $  50.00

                                    Licensed CPA                         $200.00

                                    Licensed Firm                         $200.00

 

Renewal applications were mailed to licensees at the end of May 2013.  For individuals, a reporting form for CPE and Peer Review was included with the renewal application. For firms, a reporting form for Peer Review was included with the renewal application. If renewing online, licensees will be required to report the same information as indicated on the reporting form. Otherwise, if renewing by mail, the form must be completed and returned with your renewal application.

 

The 80-hour CPE requirement and the deadline for taking those hours did not change. The dead- line for completing coursework is June 30, 2013. Those hours must be reported by July 31, 2013.

 

While the CPE reporting deadline did not change, the information CPAs provide to the Department will change. Effective with this year's renewal, the Department will require CPAs to report the number of hours obtained in each category (Accounting/Auditing, Ethics, Other), along with specific course information (name of sponsor, title of program, dates attended and delivery method). It is the licensee's responsibility for documenting the evidence to support the fulfillment of CPE requirements; the Department does not maintain a record of this information. 

 

Each firm and sole practitioner that performs any of the following services must participate in a peer review program established by rule of the Department and approved by the board: (a) Audit; (b) Review; or (c) Compilations that are relied upon by third parties. The Department will mail a separate remittance request for the required peer review fee at a later date. Note: If you are engaged in the activities requiring a Peer Review as an employee of a firm, not as a sole practitioner, the firm is responsible for reporting the requirement and providing proof of Peer Review.

 

License and registration renewals not received by the expiration date can be renewed with submission of the regular renewal fee plus an additional $20 late fee within 60 days following the license expiration date. Licensees that fail to renew, online or by mail, or meet all renewal requirements by the expiration date of the license, cannot legally practice as a certified public accountant or CPA firm and may be subject to disciplinary action if they continue to practice. Licensees who fail to renew on or before the 60th day following their current license expiration date must apply for re-licensure.  Registrants who fail to renew on or before the 60th day following their current registration expiration date must apply for re-registration. You may obtain the re-licensure or reregistration applications on the CSCL website at www.michigan.gov/accountancy under Forms & Publications on the right-hand side of the page.

 

If you DO NOT have a name or address change, you may renew your license now at www.michigan.gov/bcsrenewal. As part of the online renewal process, you must also report your CPE hours earned and courses completed as indicated on enclosed "INDIVIDUAL CPE AND PEER REVIEW REPORTING FORM." You will need your 10-digit license number to use this site and you will be able to print a copy of your transaction if you require a receipt of your renewal payment. You must use a MasterCard or Visa Credit Card to be eligible to renew online.

 

If you have an address change, follow the directions below to renew online:

  • Go to www.michigan.gov/elicense
  • Click on "Accountancy" under LARA eLicense links. This page will provide instructions to create a user ID and password. You will need your 10-digit license number, date of birth and Social Security number the first time you use this online renewal feature to create your user ID and password. Please note that if the Department does not have your Social Security number and date of birth on file, you will not be able to renew online and must renew by mail.
  • You must enter a valid email address to receive an email confirmation of the online transaction or print the confirmation at the time of the transaction.

NOTE: You will not be able to renew online if:

  • You have a name change not previously reported to the Department.
  • You are changing your license status, i.e., switching from licensed CPA to registered CPA, etc.

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