CPA Day a success: also: 150-Hour, redefining 'public accountancy'.

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

More than 180 CalCPA members participated in the sixth annual California CPA Day at the Capitol in Sacramento Feb. 19. The event focused on meeting with legislators to address concerns related to taxing professional services, interstate commerce and implementation of the statutory requirement that all candidates for initial licensure meet the national standard of 1.30 semester units after Jan. 1, 2014.

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It was an excellent opportunity to meet newly elected assembly members, senators and legislative stall", and also to inform them of CalCPA's Financial Literacy campaign. Attendees heard from Assembly Member Mary Hayashi (D-Hayward), who is chairing the Assembly Business and Professions Committee, and Patti Bowers, executive officer of the CBA.

Legislative responses to the CPAs were uniformly positive. Many appreciated the opportunity to spend time with their constituents talking about the issues of importance to the CPA profession.

150-Hour Implementation

The two CBA committees charged with identifying qualifying subjects for the 150-a-semester-hour requirement after Jan. 1, 2014, are continuing to meet.

The Ethics Education Committee is charged by the Legislature with implementing a 10-unit ethics education requirement. At its Jan. 25 meeting the committee heard from a number of schools that supported a three-unit, stand-alone ethics class, but argued that a 10-unit, standalone requirement would be redundant and difficult--if not impossible--to implement at their school. Additionally, some schools argued that requiring 10 units of ethics would push other more beneficial courses out of their curriculum.

It's essential that. California retain the 150-hour mandate so existing--and future--CPAs will continue to be considered substantially equivalent by other states and not viewed as "second class" CPAs unable to practice in those jurisdictions.

The Accounting Education Committee is charged with identifying 20 units of qualifying subjects that would contribute to the competence of a practitioner.

Preliminary indications are that this committee will recommend six additional accounting units, but allow for a broader list of qualifying subjects for the remaining 14.

The schools and CalCPA arc urging the committees to act expeditiously to resolve these issues so students already enrolled will know what courses to take to qualify.

Additionally, the schools need adequate time to develop any new courses. According to the schools...