Survey Gauges FAE’s CPE Offerings, Reveals Foundation Can Be “Premier Choice” Provider

By Peggy R. Urso

In an effort to better accommodate the needs of CPAs and other professionals who take continuing professional education (CPE) courses offered through the Foundation for Accounting Education (FAE), the Marketing Department of the New York State Society of CPAs conducted a survey last October. The survey’s findings, which came back earlier this year, clearly indicate that FAE can be the premier choice for those seeking quality CPE in a live, interactive learning environment. To ensure that FAE becomes the foremost provider of CPE, there are certain steps that need to be taken. Among those, the survey revealed that respondents want FAE courses and conferences that offer diverse subject matter from year to year. Secondly, the respondents want to see more advanced-level courses. These educational offerings should continue to be reasonably priced, led by reputable speakers, and held at desired geographic locations.

Of the 16,730 FAE CPE attendees who were selected for the survey, 2,858 responded—a 17 percent response rate. Respondents included NYSSCPA members and nonmember CPE registrants who took FAE courses over the last three years. Because they provide in-firm CPE, members of the Big Five accounting firms were not included.

The survey, a direct mail packet that included a two-page multiple choice questionnaire, was designed to measure certain items pertaining to the quality, development and administration of FAE’s CPE courses and conferences. These included the following: level of satisfaction, perception of the courses offered, use of competitive CPE, reasons for using competitive vendors, preferred geographic locations, preferred CPE subject matter, and other CPE needs.

The Respondents

Of those who responded, 86.4 percent are Society members, while 13.6 percent are not. Of this latter group, 59.7 percent belong to the American Institute of CPAs, 14.2 percent belong to other state CPA societies and 26.1 percent belong to other professional CPA societies, like the National Conference of CPA Practitioners. According to the findings, reasons for taking CPE include fulfilling mandatory requirements (91.6 percent), professional advancement (54.9 percent), self-motivation (35.2 percent), fulfilling employer requirements (13.5 percent), and networking (8.3 percent). For 67.2 percent of the respondents, the cost of the CPE is covered by the firm, 32.2 percent pay for it themselves and 0.6 percent have it paid for by other entities or individuals.

Why Choose CPE from FAE?

Approximately 66 percent responded that FAE enables them to attain a greater level of competence at the workplace, and 70.1 percent said FAE has easier registration procedures than other CPE providers. Of the respondents, 53.6 percent said they agree or strongly agree that FAE’s administrative staff is helpful.

According to the survey, the benefits of taking CPE through FAE include the Foundation’s reputation for providing quality CPE courses, which garnered a 69.8 percent response rate, and geographic accessibility, which yielded a 59.2 percent response rate. Another benefit includes reasonable fees, which generated a 58.3 percent response rate.

What Could Make FAE CPE Better?

More than 50 percent of the participants indicated that they are most interested in classes that cover advanced topics. The survey found that they would prefer programs offered at an even lower cost, would like to see more CPE available at chapter locations, and would benefit from more courses that offer four hours of CPE.

Based upon the findings of 200 randomly selected surveys, the top choices for CPE topics of interest include: estate planning, general taxation, financial planning, brokerage industry, income tax review, business valuation, and nonprofit organizations.
The survey revealed that Manhattan, Nassau and Elmsford-White Plains are the most preferred geographic locations for course offerings. New Jersey (Bergen County and Passaic County), Connecticut (Stanford, Middletown and Southern Connecticut), and other New York locations, including Tarrytown, are the other desired locations.

On a scale of 1 to 7 in which 1 is poor and 7 is excellent, approximately 65 percent of the respondents rated FAE CPE offerings a 5 or a 6.

Why Consider Other CPE Vendors?

Lastly, the survey yielded valuable information regarding FAE’s CPE competitors. Approximately 68 percent of the respondents said the variety of course offerings is an important or most important reason as to why they would consider another vendor. Price was next on the list at 63.5 percent, and speaker reputation, which produced a 56.4 percent response rate, came in as the third important or most important reason why other vendors would be sought.