(1) A specific program qualifies as acceptable continuing education if it is a formal program of learning which contributes directly to the professional competence of an individual permitted to practice public accounting and such program meets the minimum standards of quality of development and presentation and of measurement and reporting of credits set forth in the Statement on Standards for Formal Continuing Education Programs published by the National Association of State Boards of Accountancy, (ARM 24.201.2120 through 24.201.2124) or such other educational standards as may be established from time-to-time by the board.

(2) The board anticipates that individuals will maintain the high standards of the profession in selecting quality programs.