| (a) The board shall grant credit to an applicant for
the satisfactory completion of a section of the UCPAE provided the
applicant earns a passing score on the section as determined by board
rule. The credit shall be valid for 30 months from the actual date
of notification of passing score results. The 30 months may be temporarily
extended by the executive director, in accordance with §901.307(b)
of the Act (relating to Grading Examination), in order to provide
for uniformity with other state regulatory authorities or for reasonably
unforeseeable or uncontrollable events.
(b) An applicant must pass the remaining sections within
the next 30 months. Should an applicant's exam credit be invalidated
due to the expiration of 30 months without earning credit on the remaining
sections, the applicant remains qualified to take the examination.
(c) An applicant receiving and retaining credit for
every section on the UCPAE, within a 30-month period, shall be considered
by the board to have completed the examination and may make application
for certification as a CPA.
(d) Effective January 1, 2024, an applicant under this
section shall have 36 months from the time all test sections are passed
to meet the education requirements of §511.164 of this chapter
(relating to Definition of 150 Semester Hours to Qualify for Issuance
of a Certificate) or the credit for all test sections will expire.
(e) Effective January 1, 2024, an applicant who has
an active credit on a section of the UCPAE shall have earned credit
on the newly structured UCPAE as follows:
(1) credit on auditing and attestation (AUD) shall
transition to auditing and attestation (AUD);
(2) credit on financial accounting and reporting (FAR)
shall transition to financial accounting and reporting (FAR);
(3) credit on regulation (REG) shall transition to
taxation and regulation (REG); and
(4) credit on business environment and concepts (BEC)
shall not transition to a specific discipline as there is not an equivalent
section, however, credit will be retained in lieu of a discipline.
(f) Effective January 1, 2024, the Board shall grant
credit to an applicant for the satisfactory completion of the following
sections of the UCPAE provided the applicant earns a passing score
on the section as determined by board rule. The credit shall be valid
for 30 months from the actual date of notification of passing score
results:
(1) auditing and attestation (AUD);
(2) financial accounting and reporting (FAR);
(3) taxation and regulation (REG); and
(4) one of the following discipline sections:
(A) business analysis and reporting (BAR);
(B) information systems and controls (ISC); or
(C) tax compliance and planning (TCP).
(g) An applicant who has received and retained credit
for any or all sections on the UCPAE may transfer such credits to
another licensing jurisdiction if the applicant pays in advance a
transfer fee set by board rule as identified in §521.7 of this
title (relating to Fee for Transfer of Credits).
(h) If the UCPAE is restructured by the AICPA, the
board shall determine the manner in which active credit earned prior
to the restructure for a subject is integrated into the new UCPAE.
(i) Credits earned between January 1, 2020 and January
1, 2024 that are no longer valid may be considered for reinstatement
for not more than 18 months from the date that reinstatement occurs.
The following conditions are required:
(1) the applicant was impacted by an unforeseeable
and uncontrollable event; and
(2) the applicant provides documentation to substantiate
the unforeseeable and uncontrollable event.
(j) Interpretive Comment: For the purpose of this section
unforeseeable and uncontrollable events include, but are not limited
to, the health of the applicant, accidents limiting the applicant,
military service, natural disasters, or acts of God.
|
| Source Note: The provisions of this §511.80 adopted to be effective January 3, 1990, 14 TexReg 6758; amended to be effective October 30, 1991, 16 TexReg 5828; amended to be effective December 15, 1993, 18 TexReg 8911; amended to be effective February 27, 2000, 25 TexReg 1377; amended to be effective August 13, 2003, 28 TexReg 6274; amended to be effective February 17, 2008, 33 TexReg 1102; amended to be effective August 8, 2012, 37 TexReg 5773; amended to be effective June 7, 2017, 42 TexReg 2933; amended to be effective June 2, 2021, 46 TexReg 3404; amended to be effective February 2, 2022, 47 TexReg 302; amended to be effective February 8, 2023, 48 TexReg 517; amended to beeffective October 4, 2023, 48 TexReg 5664; amended to be effective February 7, 2024, 49 TexReg 553 |
