It's a busy year; Major legislative and regulatory activity.

• Author: Allen, Bruce C.
• Position: Capitol Beat

The California Board of Accountancy recently held a regulatory hearing on proposed amendments to the Continuing Education Regulations. Under the proposal, California CPAs are still required to complete 80 hours of continuing education every two years, but the regulations will require completion of a minimum number of hours annually.

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CPAs renewing an active license after Dec. 31, 2011, must complete a minimum of 20 hours annually with at least 12 of the 20 hours in technical subject areas. The CBA will require that licensees complete two hours of ethics focused on regulatory and statutory review every six years. Additionally, four hours of ethics will be required every renewal period.

150 Hours

CalCPA is sponsoring SB 691 (Yee, Niello, Ma) requiring all candidates entering the profession after Jan. 1, 2014, meet the Uniform Accountancy Act's 150-hour educational requirement (i.e., the candidate must have a bachelor's degree, and at least 24 semester hours or units in business and 24 hours in accounting). The success of this legislation is essential to allow current and future California CPAs to represent the needs of taxpayers and clients with interests in other states. Check www.calcpa.org/150 for updates on this important issue.

SB 691's first hearing was scheduled for April 27 (after California CPA's press time) in the Senate Business and Professions Committee. Thanks to visits from CPA members and staff, the senators understand the importance of enacting this legislation quickly as time is running out for California CPAs that do not meet the 150-hour requirement.

As states change their mobility laws, they are removing exemptions for temporary and incidental practice, and the only CPAs who may provide services in their states after 2012 are those who are from substantially equivalentstates or individually substantially equivalent. Such requirements would seriously interfere with your ability as a California CPA to participate in national and international commerce.

License Status Disclosure

AB 117 (Niello, Ma) will require CPAs with inactive licenses to disclose that fact when using the CPA designation.

The CBA allows CPAs employed by private business or government to use the title "CPA" on their business cards, resumes and in other business communications even if their license is "inactive." CPAs in industry and government are often employed in the finance and accounting department of the business or government...