Various changes to the laws governing the practice of accounting and modifying various administrative rules promulgated by the Accounting Examining Board relating to accounting

The bill replaces the 150 hours requirement and one year of public accounting experience with specific educational pathways and experience requirements for obtaining a CPA certificate. The methods differ depending on the degree received by the applicant. The bill also allows a person to take the CPA examination after receipt of a bachelor’s degree or after completing 120 hours of education. The bill further details the work experience requirement, including how the board is to evaluate work experience. The bill also makes changes to the board’s rules, including changes to account for the statutory changes in the bill, repealing the requirement to complete semester hours in accounting information systems, and changing the continuing education requirements for a renewal five years or more after the renewal date. Finally, the bill changes the exemption under which a person who has a CPA license or certificate from another state may practice in this state without a license, requiring that the person have met requirements similar to those in this state, instead of requiring third-party verification of qualifications.