For Immediate Release
7/4/08

Corman's Legislation Reforming CPA Certification Clears House & Senate

Legislation Headed to Governor's Desk for Signature

Harrisburg – Legislation sponsored by Sen. Jake Corman (R-34) that changes the certification process for certified public accountants (CPAs) passed cleared the House and Senate this week and is now before the Governor for his signature to become law.

Corman's Senate Bill 838 brings Pennsylvania's CPA Law into compliance with most other states as well as the federal Uniform Accountancy Act.

"This legislation is an important part of making Pennsylvania competitive in the global marketplace," Corman said. 

If enacted, the bill would allow CPAs to practice in other states while also allowing CPAs from outside Pennsylvania to practice here without obtaining a new certification.

"With this legislation, we now have reciprocity of certified public accountants in Pennsylvania," Corman said.  "Instead of our CPAs having to get a new license in another state, our CPAs can immediately go to work, and CPAs licensed in other states can find work in Pennsylvania without having to apply for a new license."

To match other state laws, the bill increases the minimum amount of training required to sit for the CPA exam, from 120 to 150 hours. CPAs currently licensed in Pennsylvania will be grandfathered into the new policy and will not need additional training to practice in other states.

The new education requirements would not take effect until 2012.

The law also would increase the ownership share that non-CPAs may hold in accounting firms. Presently, an accounting firm must be at least two-thirds owned by CPAs. If passed, the law would change that to a simple majority.

Corman said this change "addresses the growth and diversity of the CPA practice."

Senator Jake Corman, the Senate's Majority Policy Chairman, represents the 34th Senatorial District, which includes Centre, Mifflin, Juniata, Perry and Union Counties.

Contact:

Don Houser
(717) 787-1377

  Print this page

 E-mail this page

Back