Gov. Tom Corbett today signed House Bill 40, legislation that changes the requirements to become a certified public accountant.
Authored by Lancaster County Republican Rep. Gordon Denlinger, Act No. 15, as it is now known, will allow for a broader base of experience. It provides for one year (1,600 hours) of experience through employment in government, industry, academia or public practice to qualify for the CPA certificate within five years of the date of application.
The work experience would expand to include accounting, compilation, consulting, financial advisory, management advisory or tax work, as well as attest work.
Pennsylvania had been one of only three states that still requires "a specific amount of attest function work" to obtain a CPA license, according to the Pennsylvania Institute of CPAs. PICPA has been championing the changes.
The law had required that:
• 150-credit candidates complete one year (1,600 hours) of work experience, with 400 of those hours involving attest activity within five years of the date of application.
• 120-credit candidates complete two years (3,200 hours) of work experience, with 800 of those hours involving attest activity within five years of the date of application.