After extending the comment period through December 1, 2011, NASBA has now closed the public-input portion of the CPE Standards review process. So, what's next?
The new Standards, along with the comments offered, will now reappear before the joint AICPA-NASBA committee, which had reviewed and approved them prior to the public-commentary period. Their re-examination of the Standards, along with the comments, will take place during December, likely before year's end. They will make any changes they feel necessary based on the new input and information, and then submit a recommendation for final approval to the NASBA and AICPA boards, both of which meet in January 2012.
Barring any major changes or unforeseen circumstances that would lead to the Standards needing further review or change, we anticipate receiving board approval in late January 2012 and a recommended effective date of March 1, 2012.
The March 1 date will apply to providers' new programs. It will be waived for programs that already are in use, as we understand that those providers will need more time to comply with the new standards. If you have a self-study or other program that is already in existence before March 1, 2012, then you will have two years, or until March 1, 2014, to comply with the new standards.