New laws: retires; status bill; ethics requirement.

Gov. Jerry Brown has signed Senate Bill 773 (Sen. Gloria Negrete-McLeod), which is an important step in implementing the requirements for the 150-hour mandate set in place last year. The GBA has been deliberating subjects that will meet the requirements for the 20 units of accounting and business related education and 10 units of ethics education on the requirements for qualifying coursework needed for CPA licensure after Jan. 1, 2014. CalCPA-sponsored SB 773 will implement the ethics portion.

Candidates for licensure after Jan. 1, 2017, must have a three-semester or four-quarter unit course in accounting ethics, along with other subjects that would fill the 10-unit ethics education requirement. After Jan. 1, 2014 but prior to Jan. 1, 2017 -- candidates may fulfill the 10 units by taking various courses, some of which are already required as part of general education.

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