NEW YORK, July 27 /PRNewswire-USNewswire/ -- Forty-five states have
passed CPA practice mobility laws as of July, marking a national success in the
collaborative efforts of CPA state societies, the American Institute of Certified
Public Accountants (AICPA), and the National Association of State Boards of
Accountancy (NASBA).
The CPA mobility initiative has swept through the country in the last
three years, and the enactment of the legislation allows CPAs and CPA firms to
serve their clients across state lines with minimal licensing barriers. These
measures had overwhelming bi-partisan support in legislatures across the country and
were backed by governors and attorneys general in these states.
"The success of 45 states enacting CPA mobility provisions created a new
pathway for the profession to serve consumers without the lengthy delays and
substantial additional costs caused by licensure or notification requirements,"
said Barry Melancon, president and CEO of the
AICPA. "As we enter into the implementation phase of mobility we are creating
resources to help CPAs and CPA firms navigate this new world of mobility."
The AICPA has created a clickable
map that describes the basic components of state mobility provisions with
supplemental information and links to the NASBA resource page and state board
websites.
What is CPA Mobility?
Mobility is the ability of licensees to gain a practice privilege outside
their principal place of business - without additional licensing or fees - and for
CPA firms the ability to reduce the occurrences of obtaining a firm registration
or license. The concept of mobility allows licensed CPAs and CPA firms to
practice across state jurisdictions.
Under section 23 of the AICPA/NASBA Uniform Accountancy Act (UAA)
adopted by most states, a CPA with a license in good standing from a jurisdiction with
CPA licensing requirements essentially equivalent to those outlined in the UAA
is deemed to be substantially equivalent, or a licensee who individually meets
the following requirements;
- 150 credit hours with a baccalaureate
- Minimum one
year of CPA experience
- Successful completion of the four-part Uniform
CPA Examination
This system provides CPAs with mobility
while retaining and strengthening a state board's ability to protect the public.
Out-of-state CPAs and CPA firms practicing under this system give state boards of
accountancy automatic jurisdiction over them. It balances trust and public
protection.
Businesses today are often located in multiple states and have
compliance responsibilities in multiple jurisdictions. A uniform process gives CPAs the
flexibility to better serve clients. Implementation of a uniform CPA mobility
provision will allow consumers to receive timely services from CPAs best-suited to
the job, regardless of the location, without the hindrances of unnecessary
filings, forms and increased costs that do not protect the public interest.
The AICPA encourages individual licensees and firms to contact the board
of accountancy in the state in which they intend to practice to determine the
applicability of the state's practice privilege requirements.
About the AICPA
The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association
of CPAs, with more than 350,000 CPA members in business and industry, public
practice, government, education, student affiliates, and international associates.
It sets ethical standards for the profession and U.S. auditing standards for
audits of private companies, non-profit organizations, federal, state and local
governments. It develops and grades the Uniform CPA Examination.
The AICPA maintains offices in New York,
N.Y., Washington, D.C., Durham, N.C., Ewing, N.J., and
Lewisville, TX.
Media representatives are invited to visit the AICPA Online Media Center
at www.aicpa.org/mediacenter.
SOURCE American Institute of Certified Public
Accountants