CPA Day: be sure to Join us as the voice of the profession.

• Author: Allen, Bruce C.
• Position: CapitolBeat

It's not too late to register for our Jan. 23 CPA Day Join hundreds of your colleagues from across the state as CalCPA converges on the state Capitol in Sacramento to meet and develop relationships with elected legislators and inform them of important issues facing the CPA profession.

We hope to see you in Sacramento Jan. 23. Register online: www.CalCPA.org/CPADay.

California Board of Accountancy Update

New Officers Elected for 2013

The CBA has a new leadership team for 2013 that includes three CalCPA members. Leslie LaManna, CPA was elected president, Michael Savoy, CPA, vice president and Kitak (K.T.) Leung, CPA, secretary/treasurer.

LaManna and Savoy served as vice president and secretary/treasurer, respectively CalCPA looks forward to working with the leadership team and applauds outgoing CBA president and attorney Marshal Oldman for his successful leadership in 2012.

Pursuing Lowered Fees

The CBA has issued draft regulatory language to temporarily reduce application and renewal fees for a two-year period, July 1,2014-June 30, 2016. The proposal would lower the application fee for the Uniform CPA Exam from $100 to $50 and from S50 to $25 for repeat applicants. The application for a CPA license would be lowered from $250 to $50 and $150 to $30 for a partnership or corporation. The fee for an initial license to practice public accountancy would be lowered from $120 to $50 and the fee for renewal would go from $120 to $50.

CalCPA is supporting the CBAs plan, which is the result of regulations supported by CalCPA several years ago to limit the amount of reserve funds held in the accountancy special fund.

Legislation to Help CPA Candidates

The CBA will introduce legislation in the 2013 legislative session to assist accounting students, CPA candidates and firms. The legislation will extend the transition period between current CPA licensure requirements to the new 150-hour licensure requirements for two years. Provided that CPA candidates have passed the CPA exam by the 2014 deadline, they will have two additional years to complete their experience requirement and become licensed under the current requirements.

Additionally with the growing number of students enrolling in a five-year combined master's/bachelor's program, where both degrees are conferred after the five years are complete, the CBA has agreed to sponsor legislation to allow these student/candidates to sit for the Uniform CPA Exam prior to official receipt of the bachelor's...