Table of Contents

Course Learning Objectives: 5

Course Description: 5

Chapter 1 - Colorado CPAs - CR&R  Section 1. 10

Overview. 10

State Board of Accountancy - Organization. 10

State Board of Accountancy - Powers and duties 11

Section 1  Colorado Revised Statutes, Rules and Policies 11

TITLE 12. PROFESSIONS AND OCCUPATIONS GENERAL ARTICLE 2. 12-2-101 ACCOUNTANTS C.R.S. 12-2-101 (2016). Legislative declaration. 11

12-2-115 Use of the title "certified public accountant" 11

12-2-117. Partnerships, professional corporations, and limited liability companies composed of certified public accountants - 12

12-2-120. Unlawful acts 13

12-2-123 Grounds for disciplinary action - administrative penalties 14

12-2-123.5 Response to a Board Communication. 15

12-2-124. Revocation or suspension of partnership, professional corporation, or limited liability company registration. 15

12-2-128. Reconsideration and review of action of board. 16

12-2-129. Unauthorized practice  penalties 16

12-2-130. Ownership of accountant's working papers 16

12-2-130.5. Ownership of state auditor's work papers 16

Chapter 1 - Section 1 Review Questions 17

Chapter 1 - Colorado CPAs - CR&R  Section 2. 18

Code of Colorado Regulations -Rules of BOA. 18

Chapter 1- Board Organization and Administration. 18

1.1- 1.2 Definitions and abbreviations 18

1.5 Conferring with Board Members 18

Chapter 2-5. 18

CHAPTER 6 - CERTIFICATE Requirements, Discipline, Maintenance, and Status Changes 18

6.1 GENERAL INFORMATION. 18

6.3 NAMES. 20

6.4 OFFERING SERVICES VIA THE INTERNET. 22

6.5 DISCLOSURE- LICENSEES. 22

6.7 Active Certificate. 23

6.8 INACTIVE STATUS CERTIFICATE. 24

6.9 RETIRED STATUS CERTIFICATE. 24

6.10 EXPIRED STATUS CERTIFICATE. 25

6.11 REACTIVATION OF A RETIRED OR INACTIVE STATUS CERTIFICATE. 25

6.12 REINSTATEMENT OF AN EXPIRED CERTIFICATE. 26

6.13 CPE REQUIRED AFTER REACTIVATION OR REINSTATEMENT TO ACTIVE STATUS. 27

6.14 EXCEPTIONS. 28

Chapter 1 - Section 2 Review Questions 29

Chapter 1 - Colorado CPAs - CR&R  Section 3. 30

CHAPTER 7 - CONTINUING PROFESSIONAL EDUCATION (CPE) 30

7.1 GENERAL INFORMATION. 30

7.2 CPE STANDARDS. 30

7.3 SUBJECT MATTER. 30

7.4 CPE CREDIT AND RECORDS DOCUMENTATION AND RETENTION. 31

7.5 HARDSHIP EXCEPTIONS. 32

7.6 CPE COMMITTEE. 33

7.7 FAILURE TO COMPLY WITH CPE REQUIREMENTS. 33

7.8 BOARD ACCEPTANCE OF COLORADO RULES AND REGULATIONS (CR&R) COURSES. 33

Chapter 1 - Section 3 Review Questions 35

Chapter 1 - Colorado CPAs - CR&R  Section 4. 36

CHAPTER 8 - PEER REVIEW REQUIREMENT. 36

8.1 INTRODUCTION. 36

8.2 EXEMPTION FROM PEER REVIEW.. 36

8.3 APPROVED PEER REVIEW SPONSORING ORGANIZATIONS, PROGRAMS AND PEER REVIEW STANDARDS. 36

8.4 PEER REVIEWER QUALIFICATIONS AND DUTIES. 37

8.5 RETENTION OF DOCUMENTS RELATING TO PEER REVIEWS. 37

8.6 SUBMISSION OF PEER REVIEW DOCUMENTS. 37

8.7 EXTENSIONS FOR COMPLETING PEER REVIEWS. 38

8.8 BOARD ACTIONS. 38

8.9 CHANGE OF REGISTRATION STATUS PEER REVIEW STATUS. 38

8.10 CONFIDENTIALITY OF PEER REVIEW INFORMATION. 38

8.11 PEER REVIEW PROGRAM OVERSIGHT COMMITTEE (PROC) 39

8.12 PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD (PCAOB)- 39

8.13 PEER REVIEW REQUIREMENT. 39

8.14 RENEWAL ATTESTATION. 39

8.15 EFFECTIVE DATE. 40

Chapter 1 - Section 4 Review Questions 41

Chapter 1 - Colorado CPAs - CR&R  Section 5. 42

CHAPTER 9 - RULES OF PROFESSIONAL CONDUCT. 42

9.1 DEFINITIONS. 42

9.2 INDEPENDENCE. 42

9.3 INTEGRITY AND OBJECTIVITY. 42

9.4 COMMISSIONS, REFERRAL FEES AND CONTINGENT FEES. 44

9.5 PROFESSIONAL COMPETENCE AND COMPLIANCE WITH APPLICABLE TECHNICAL STANDARDS. 45

9.7 ACTING THROUGH OTHERS. 46

9.8 CONFIDENTIAL CLIENT AND EMPLOYER INFORMATION. 46

9.9 ISSUING COPIES OF REPORTS, TAX RETURNS OR OTHER DOCUMENTS. 48

9.10 CLIENT RECORDS. 48

9.11 SAFEGUARDING CLIENT RECORDS AND PROPERTY. 49

9.12 SOLICITATION. 50

9.13 INCORPORATION OF AICPA CODE OF PROFESSIONAL CONDUCT. 50

9.14 INCORPORATION OF STANDARDS. 50

Chapter 1 - Section 5 Review Questions 52

Chapter 1 - Colorado CPAs - CR&R  Section 6. 53

CHAPTER 11 - PRACTICE PRIVILEGE / MOBILITY. 53

11.1 SCOPE OF THE PRACTICE PRIVILEGE. 53

11.2 REQUIREMENTS. 53

11.3 DISCIPLINE FOR HOLDERS OF THE PRACTICE PRIVILEGE. 54

11.4 FOREIGN INDIVIDUALS. 55

CHAPTER 12 FIRM REQUIREMENTS. 56

12.1 FIRM REGISTRATION. 56

12.2 CPA FIRM NAMES. 56

12.3 NOTIFICATIONS. 58

12.4. RENEWAL 59

12.5 GENERAL INFORMATION CONCERNING FIRM REGISTRATIONS. 59

12.6 OFFERING SERVICES VIA THE INTERNET. 59

12.7 DISCLOSURES. 59

Chapter 1 - Section 6 Review Questions 62

Answers for Review Questions 63

Chapter 1  Section 1 Review Questions Feedback. 63

Chapter 1  Section 2 Review Questions Feedback. 64

Chapter 1  Section 3 Review Questions Feedback. 65

Chapter 1  Section 4 Review Questions Feedback. 66

Chapter 1  Section 5 Review Questions Feedback. 67

Chapter 1  Section 6 Review Questions Feedback. 68

Appendix A -Acronyms and Additional Definitions 69

Appendix B: Board Policies 77

Appendix C: 12-2-117 Partnerships, Professional Corporations and LLCs 89

12-2-117. Partnerships, professional corporations, and limited liability companies composed of certified public accountants - registration thereof - definitions 89

Appendix D  Excluded Chapters 95

Chapter 2: EDUCATION REQUIREMENTS FOR EXAMINATION AND CERTIFICATION. 95

Chapter 3 - EXAMINATION GENERAL REQUIREMENTS AND PROHIBITED CONDUCT. 102

CHAPTER 4 -EXPERIENCE REQUIREMENTS FOR CERTIFICATION. 105

CHAPTER 5 REQUIREMENTS FOR CERTIFICATION. 106

CHAPTER 10 - DECLARATORY ORDERS. 109

Appendix E: CR&R Outline. 112

Glossary. 113

Final Examination 116

CPASelfstudy.com Course Evaluation 118