SB 732

This bill makes modifications regarding the educational requirements for taking the certified public accounting (CPA) examination or for obtaining a CPA certificate, or for practicing as a CPA based upon licensure or certification in another state.

Current law provides that a CPA certificate may be granted only to a person who has completed at least 150 semester hours of education in accounting and business subjects, as determined by the board, which issues CPA certificates and licenses. Current law also requires that the person have at least one year of public accounting experience or its equivalent. Current law also provides that a person is not eligible to take the CPA examination unless the person has completed at least 120 semester hours of education in accounting and business subjects, as determined by the board.

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.