The Minnesota Society of Certified Public Accountants is a professional association for certified public accountants in Minnesota. A group of accountants founded the MNCPA in 1904 with the purpose of elevating the profession and supporting the passage of Minnesota's Certified Public Accountant law in 1909. Today, the MNCPA has more than 8,500 members and focuses on four initiatives:
Educate members through seminars, conferences, events, online modules, and print and digital publications
Develop emerging and established leaders
Provide professional tools, resources and information to members
Build CPAs’ professional reputation as the most trusted, ethical advisers to the public
History
The MNCPA incorporated on July 14, 1904, with seven charter members. The organization originally incorporated under the name, "Minnesota Society of Public Accountants." The society adopted its current name in 1928 after merging with another organization for CPAs in Minnesota, the "Minnesota State Society of Certified Public Accountants." Minnesota was the 19th state to organize a CPA society, seven years after the state of created the first CPA society in 1897.
Who are CPAs?
Not all accountants can call themselves a certified public accountant. CPAs are experts in tax planning, business decision-making and investment strategies. Unlike non-licensed tax preparers, CPAs are highly regulated by state and federal agencies, and must adhere to strict professional and technical requirements. By fulfilling annual continuing education requirements, CPAs stay up to date on the latest tax law changes, and apply those changes to each clients’ unique financial situation to minimize their tax bill. CPAs are valued for their analytical skills, integrity and dedication to service.
Governance
The MNCPA is governed by a board, annually elected by the membership. includes the board chair and the MNCPA president. A of 30 oversees the daily operations of the organization at the MNCPA office in Bloomington, Minnesota. Members can volunteer to join MNCPA committees or task forces, which are designed to provide member input on programs, events or services. Such committees include conference task forces, legislative groups and ethics committees.
Membership
Those interested in MNCPA membership can as a:
CPA member: individuals who have completed the CPA exam in any state
Associate member: non-CPAs working in an accounting capacity, including: billable professionals within public accounting, accounting professionals within business and industry, firm administrators, and accounting educators
More than 70 percent of the MNCPA membership is focused in the seven-county Minneapolis-St. Paul metro area. Approximately 29 percent reside in Greater Minnesota. Additionally, more than 2,000 members are categorized by chapter. The MNCPA's include members living and working in communities across Minnesota who benefit from additional programs and services. MNCPA members renew their membership annually on April 1.
Involvement
Through more than 40 volunteer programs, the MNCPA provides CPAs with opportunities to serve the profession, their communities, and enhance their careers and professional reputations.
Outreach
MNCPA share valuable information with the public. MNCPA volunteers speak to students about financial literacy and CPA careers. Tax experts share their knowledge with the media during the MNCPA's tax seasonpublic relations campaign. Volunteers also have opportunities to offer ideas or write articles for one of the MNCPA's publications, providing necessary information for CPAs to do their jobs and better serve their clients.
Networking
is important to CPAs looking to take on new clients and maintain current working relationships. MNCPA members enhance their networking skills and build new connections through programs or events tailored to their professional niche, such as the , Small Firm Roundtables, and Business and Industry Member Get-togethers.
Advocacy
CPAs understand how new tax laws will affect their work, their businesses and the clients they represent. MNCPA members use their knowledge to educate and influence Minnesota legislators on tax issues through the MNCPA's program. Advocacy opportunities range from serving on the Legislative Issues Committee to attending the MNCPA's annual CPA Day at the Capitol.
Ethics
The MNCPA Professional Ethics Committee reviews complaints against MNCPA members and suggests disciplinary action based on the . This is separate from any action by the Minnesota Board of Accountancy, the AICPA Ethics Division or other professional organizations.
All firms in public accounting must be enrolled in the program. This is a requirement for firm licensure with the . Peer Review should be an important factor for the public when selecting a CPA firm. Firms that undergo peer review on a regular basis show dedication to maintaining high quality in the services they provide.
Member Services
MNCPA members receive as part of their annual membership. These include free or reduced-cost access to services traditionally used by CPAs in various fields. Such services include, but are not limited to:
To begin the exam process in Minnesota, a student with a completed bachelor's degree in accounting must submit the on the National Association of State Boards of Accountancy's website. Once approved, the exam candidate will receive a Notice to Schedule, allowing them to set their exam dates at a . Exam candidates must pass all four exam sections within 18 months for the exam to be considered complete. The Minnesota Board of Accountancy sets forth exam eligibility rules in Minnesota. In Minnesota, those who complete the exam are referred to as "exam passers" while completing the remaining requirements for CPA certification.
CPA Certification in Minnesota
In Minnesota, exam passers receive a CPA certificate after completing the exam and meeting additional certification requirements, including:
One year of work experience
Passage of a self-study ethics exam
150 college credits
Minnesota CPAs initially earn an active CPA certificate. Minnesota offers two :
Active: renewal by Dec. 31; report continuing education annually to the BOA by Dec. 31 for the three-year reporting period ending June 30.
Inactive: renewal by Dec. 31; no continuing education requirement. Minnesota CPAs of this status must state 'inactive' when using the credential in print.
MNCPA Recognition Dinner
A lot of time and effort goes into earning the CPA credential. To honor those who achieved this distinction, the MNCPA hosts its biannual for new Minnesota CPAs and their employers. Guests take the Oath of the CPA, administered by the Minnesota Board of Accountancy Chair, in addition to enjoying dinner and a presentation that includes a professional keynote speaker.
Ongoing education is an important factor in maintaining the CPA credential. In Minnesota, active CPAs must earn to use the credential without restriction. Inactive CPAs are not required to earn CPE, but many return to the classroom to stay up to date on issues that affect them as professionals. The Minnesota Board of Accountancy sets and enforces continuing professional education requirements, outlined in . Active CPAs must earn 120 hours of CPE every three years, including eight hours of ethics credits, with a minimum of 20 CPE hours annually. In Minnesota, a CPE year runs from July 1 to June 30. CPAs must be aware of the types of CPE accepted by the Minnesota Board of Accountancy. , including caps on self-study or courses offered by non-registered providers, exist to protect the credibility of the education required for the credential.
MNCPA Education Benefits
The MNCPA provides high-quality continuing professional education programs. The MNCPA is a , and an for group live and group internet-based CPE programs, effective Aug. 1, 2017. MNCPA members enjoy discounts on educational courses, but anyone can attend an MNCPA class or conference.
Courses
The MNCPA offers more than 250 full- or partial-day seminars and conferences each year. Programs feature local and national speakers on a variety of tax, business or professional development topics to improve a CPA's skill set. A complete of MNCPA CPE programs is available online.
Conferences
The MNCPA currently hosts 11 a year, including , the largest of its kind in the Midwest, and the .
Other CPE Options
The MNCPA offers several alternatives to live education options, including , or courses.
MNCPA CPE Log
The MNCPA provides an online tool called the to help MNCPA members easily track their credits to maintain certification. A BOA Reporting Summary is included within the CPE Log to assist with reporting CPE hours to the Minnesota Board of Accountancy. Nonmembers can print certificates of completion for MNCPA courses.
Public Service
The MNCPA provides members the opportunity to inform, educate and assist the public. Programs include, but are not limited to:
The MNCPA CPA Referral Service
A free online service enabling the public to by specialty or location. The MNCPA CPA Referral Service is promoted during tax season through the MNCPA's annual public relations effort, . During this campaign, share their expertise about tax planning and preparation issues.
Taxline
Viewers call or email MNCPA volunteers with general tax questions during this at KARE 11 studios in Golden Valley, Minnesota.
Talk to the Students
MNCPA volunteers speak to Minnesota students in the classroom about the CPA profession as a career option.
BestPrep
Through a partnership with , a nonprofit that works with schools throughout Minnesota, MNCPA volunteers speak to students about money management and financial literacy skills.
Prepare + Prosper
Volunteers provide free tax preparation, financial education and asset development services to thousands of low-income individuals and families each year.
Military Tax Help
The MNCPA partners with the Minnesota National Guard to offer free tax preparation to deployed military service members.
