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CONTINUING PROFESSIONAL EDUCATION (CPE) REQUIREMENTS AND RULES

 

CACMs and candidates who have completed the CACM examination but have not yet met the experience requirement, are required to maintain their proficiency in the fields of fraud and corruption prevention, deterrence, and detection, internal control, and due diligence. This includes knowledge of new concepts and techniques as well as their application in management and governance. The objective is to maintain the professional competence of the individual and to enhance one's ability to perform job-related requirements. Persons who have retired need not meet continuing professional education requirements. The continuing professional education requirement is 30 hours per year.

 

A broad range of subjects may be included in the programs for which hours of credit will be given. The subjects should be related to the listed topics in the CACM syllabus and/or to an individual's job responsibilities. Examples of the subjects that may qualify are: all aspects of internal control, due diligence, fraud prevention, fraud detection, corporate governance, auditing, fraud auditing, strategic management, business management, financial management, business  applications of mathematics and statistics, computer science, economics, forensic accounting, production, marketing, business law, and organizational behavior.

 

All CACMs are required to complete a minimum of 3 hours of continuing professional education on the subject of ethics as part of their 30-hour annual CPE requirement. If more than 3 hours of Ethics are earned in a given year, up to 3 hours can be carried forward to the following year.

 

The focus of the ethics education should be principally in the area of good governance, management accounting and financial management. Topics should include ethical considerations in the area of decision support, planning, and control for management as well as accounting and finance professionals working inside organizations. The AACI encourages members to use education sources that address specific scenarios such as fraud in financial reporting, manipulation of budgets for personal gain, and disclosure of confidential financial information. Also acceptable is coverage of ethics within the general business environment and earnings management. The responsibility for determining that a program qualifies is given to those who must meet this requirement. However, in case of doubt, the Institute will rule in advance on whether a specific program or activity will qualify for hours of credit. (When requesting such a ruling, a copy of the program or other data describing the activity must be submitted.)

 

Credit for hours of study will be given for programs sponsored by the AACI, businesses, educational institutions, other professional accounting organizations, and trade associations. Programs may be regular college courses, seminars, workshops or technical meetings under the direction of speakers, instructors, or discussion leaders. The method of instruction may include lecture, discussion, case studies, and teaching aids such as training films, video tapes, audio recordings, and computers. Credit also is granted for home study courses, speeches, publication of technical articles, and by examination. A program must be well organized and directed to qualify.

 

For information about specific continuing professional education opportunities offered by the AACI or its approved vendors, visit the Training and Events section of the AACI website: THEAACI.com and those available at THEAACI.net

 

Continuing Professional Education and Dues Policy for CACM Exam Completers

 

If you have completed the CACM exam but have not yet been awarded the certificate, you are required to meet the continuing professional education requirement and maintain membership in the AACI. Certificates will be awarded when the experience requirement is satisfied. At that time continuing professional education and the AACI membership must be current.

 

Specific Rules for Earning Continuing Professional Education (CPE) Credit

 

  1. The continuing professional education (CPE) requirement is 30 hours per year. The reporting period begins on January 1 following successful completion of the examination. The period between successful CACM exam completion and the following January 1 is a grace period. CPE is not required during this period, but any CPE earned during this period can be counted as being earned in the first reporting period.
  2.  
  3. When a certified member completes more than 30 hours in a given year, up to 15 hours may be carried forward to the next year., i.e., if 40 hours are completed, 10 may be carried forward; if 45 hours are completed 15 may be carried forward; if 47 hours are completed, 15 may be carried forward.

 

Continuing Professional Education (CPE) Requirement Guidelines

 

Programs conducted by the employer of the individual must provide for an instructor or course leader. There must be formal instructional and training material. On-the-job training does not qualify.

 

  1. Self-Study Courses
  2.  
  3. CPE credit granted equal to hours recommended by the sponsoring organization. If you claim CPE credit for completion of a professional designation examination, you may not claim CPE credit for a prep course or self-study course that you used to prepare for the examination.
  4.  
  5. Service as a Speaker or Discussion Leader
  6.  
  7. Service as a lecturer or teacher in a program or seminar offered by business, professional associations and college or university professional education centers may be counted for continuing professional education credit as follows:
  8.  
    1. i. Continuing professional education hours equal to twice the number of hours of presentation will be granted the first time the program is offered.
  9.  
    1. ii. Credit will not be granted for subsequent offerings unless significant additional preparation is necessary. For such repeat offerings credit will be granted only for the actual hours of presentation and only once each year.
  10.  
  11. Service as a College Teacher
  12.  
  13. College courses earn CPE credit equal to the course credit hours times the number of weeks the course meets the first time a course is taught. CPE credit may be requested only once in any three year period unless the material or text book used has changed substantially.
  14.  
  15. Periodicals and Computer Software Packages Examinations
  16.  
  17. Continuing professional education credit can be earned for completing self-study examinations offered for appropriate periodicals and computer software packages. CPE credit granted equal to hours recommended by sponsoring organization.
  18.  
  19. Technical Materials Submitted for Publication
  20.  
  21. Technical articles or books published or submitted for publication are eligible for continuing professional education credit when they are published. Published articles containing fraud and corruption prevention, deterrence, and detection material can earn a maximum of six hours each. Books can earn a maximum of 20 hours. The Institute will assign specific hours upon receipt of a copy of the publication.
  22.  
  23. Professional Designation Examinations
  24.  
  25. CPE credit at the rate of ten hours for each one hour of examination may be claimed for each part successfully passed.
  26.  
  27. You may not claim CPE credit for completion of a professional designation examination if you claimed CPE credit for a prep course or self-study course you used to prepare for the examination.
  28.  
  29. College or University Courses
  30.  
  31. a. Ten weeks or longer
  32.  
    1. i. Each semester credit hour equals 15 CPE hours. Each quarter credit hour equals 10 CPE hours.
    2. ii. Non-credit courses - each 50 minute classroom  hour equals one CPE hour
    3.  
  33. b. Short Courses and Seminars (Less than ten weeks)
  34.  
    1. Each 50 minutes of session time equals one CPE hour. A full-day program with at least 6 1/2 hours of session time equals eight CPE credits.
    2.  
  35. Professional and Trade Association Meetings

 

            Each 50 minutes of session time equals one CPE hour.

 

Continuing Professional Education Delinquency Policy

 

In the event that the required hours of CPE are not completed, the CACM becomes delinquent and inactive. An inactive CACM is not considered a CACM until the delinquency is removed, and cannot use the CACM designation.

 

To return to good standing, at least 60 cumulative hours of acceptable continuing professional education must be reported by the end of the next calendar year (30 hours for the current year plus any shortfall from the previous year). If a certified member is short in a given year, the difference may be made up in the following year, i.e., if 10 hours are completed in a given year, 50 must be done the next year. This is a two-year opportunity and cannot be carried into a third year.

 

If the shortfall is not made up in the next calendar year, a return to active status will require 60 hours of continuing education to be completed in one calendar year in order to return to active status.

 

Dues Delinquency Policy

 

A CACM also becomes inactive for nonpayment of the AACI dues. To return to good standing, the CACM must pay the current dues. Until the delinquency is removed, the CACM will not be in good standing, and, therefore, will not be considered a CACM.

 

Retired Status

 

A CACM who is over 60 years of age and retired from the profession of management and / or those charged with governance is exempt from the CPE requirements. If you are eligible for retired status, please contact the AACI so that we can change your record.

 

 

 

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