Legislative Success

By Joel Bock, CPA

Most of you have heard about the recent signing of SB 819 by Gov. Schwarzenegger, which will make California CPAs substantially equivalent and better positioned to provide services to their clients outside of California.

After Pathway 1 (bachelor’s degree with 24 semester units in accounting and 24 semester units in business) sunsets Jan. 1, 2014, all California CPA candidates will be required to meet certain additional ethics and education requirements as part of the total 150-hour requirement. All CPA’s licensed in California prior to Jan. 1, 2014, will be grandfathered in as substantially equivalent.

Other bills receiving the governor’s approval are AB 117 requiring CPAs to disclose their inactive status when they use the CPA designation; AB 129 reinstating taxpayer privilege for CPAs and enrolled agents; and AB 138 requiring mandatory peer reviews of firms providing audits, reviews and compilations. Visit the CalCPA website for additional information regarding this legislation.

Please join us for a member social event Nov. 16 at 4:45 p.m. at the Doubletree Hotel. Join your fellow local CPAs for a drink and appetizers and learn a little more about the activities of the Bakersfield Chapter. At the event, we encourage you to share your ideas on additional ways in which CalCPA could better serve your needs and the needs of the community. Register online.

This entry was posted on Thursday, November 12th, 2009 at 11:45 am and is filed under President's Message. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.