CPA Profession Facing More Battles Across the Country
Disputes revolve around required hours, definitions and “substantial equivalency.”
By Steven Sacks
The NEW Fundamentals: Thriving in Disruption
Of all the states whose legislature has run amok this past year, the Florida legislature passed House Bill 813 – Certified Public Accountants – by both the Florida House and Senate. This bill creates a new “retired status” license category for CPAs. The legislation will now be sent to Gov. Ron DeSantis for consideration for being signed into law.
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According to the Florida Institute of CPAs CEO, the thinking behind this is to “… uphold retired CPAs’ profound sense of pride and accomplishment and preserve their professional identity.” However, they cannot reflect to the public that they have an active license because many believe the public thinks that if you have “CPA” after your name, you have an active license. If an individual wants to return to public practice, they can complete 80 hours of CPE every two years as part of renewing their license.
Refund numbers are down but amounts are up.
One-quarter of accountants see trouble ahead for the source of their bread and butter.
