No. CS/SB 364
Filed under Occupational.
Public Accountancy; Authorizing the Board of Accountancy to competitively procure contracted services with certain corporations not for profit for the performance of certain duties assigned to the Division of Certified Public Accounting of the Department of Business and Professional Regulation; revising the education and work experience requirements for a certified public accountant license; directing the board to prescribe specified coursework for licensure; revising requirements for the approval of providers who administer continuing education on ethics for certified public accountants, etc.
Plain English Summary
AI-GENERATEDA bachelor's degree in accounting or finance, or any bachelor's degree plus required coursework, now qualifies someone for CPA licensure without the traditional 150 semester hours -- as long as they complete 2 years of work experience instead of 1.
The Board of Accountancy can now hire outside nonprofit corporations, through competitive bidding, to handle licensing and recordkeeping duties currently done by the state's own Division of Certified Public Accounting -- though not investigations.
Approval to teach the mandatory ethics continuing-education course must now favor large nonprofit trade groups representing the most Florida CPAs, over smaller or newer course providers.
Out-of-state CPAs can practice in Florida without a Florida license if they simply held an active license elsewhere, earned a bachelor's degree, and passed the national exam -- dropping the old state-by-state equivalence review.
AIAn applicant may now qualify for licensure by holding just a bachelor's degree in accounting or finance, or any bachelor's degree plus board-prescribed coursework, instead of the previously required 150 semester hours -- but must then complete 2 years of work experience instead of 1.
AIInstead of only delegating duties internally to the department's division, the Board of Accountancy may competitively procure contracted services from outside nonprofit corporations for most of its regulatory duties, though investigative services must stay with the division.
AIApproval to administer the mandatory ethics continuing-education hours must now go preferentially to nonprofit, tax-exempt trade associations that demonstrate experience and represent the largest numbers of Florida CPAs, disadvantaging smaller or newer course providers.
AIAn out-of-state CPA may practice in Florida without a Florida license or fee based only on holding an active license in good standing and having shown a bachelor's degree and a passing Uniform CPA Exam score at the time of licensure elsewhere, replacing the prior state-by-state 'substantially equivalent' determination.
AITo become a Florida-licensed CPA by endorsement, an applicant now only needs an active out-of-state license in good standing plus good moral character and proof that state required a bachelor's degree and the Uniform CPA Exam, replacing a three-tier test that also required meeting Florida's own education and experience rules in some cases.
AIAn international applicant must now hold an active foreign license and either rely on an international standards board's equivalence finding plus a Florida exam, or, absent that finding, independently meet Florida's own education, experience, and character rules and pass the full Uniform CPA Exam -- replacing the prior waiver based on 5 years of experience.
AIThe definition tying Florida's accountancy law to a specific edition of the AICPA/NASBA model Uniform Accountancy Act is deleted, consistent with the bill's move away from 'substantially equivalent to the Uniform Accountancy Act' as the interstate reciprocity test.