It looks like future CPAs of California don't have to hustle to get their licenses by December 31, 2013 after all!
This was mentioned in the latest CBA UPDATE:
The new 150-hour educational requirements are fast approaching, and there is new legislation pending that could prove a help to many CPA license applicants. The CBA is pursuing two legislative proposals included in Senate Bill (SB) 823 that are meant to ease the transition to the new educational requirements.
Note California CPA exam candidates and prospective licensees have had PLENTY of time to transition.
SB 823 would allow an applicant who successfully passed the Uniform CPA Exam (CPA Exam) by December 31, 2013, to apply for CPA licensure under the existing pathways until December 31, 2015.
We read this to mean the CBA supports an exceptionally long time to transition.
Additionally, this bill would allow a CPA applicant enrolled in a five-year master’s degree program or other programs developed by schools to address the 150 semester unit requirement, to take the CPA Exam upon completion of the baccalaureate degree requirements. To qualify, students will need to have their respective schools confirm this status. The CBA is working proactively with the California State Legislature to enhance consumer protection and assist licensees.
Sounds rad, right? Who doesn't want two extra years to do something you knew you had four whole years to prepare for?
Personally, my favorite part of SB 823 is the explanation of WHY this has to be signed ASAP as if doom will rain down upon the great state of California if future CPAs don't get an extra two years to meet work experience requirements before licensure. OH THE HORROR!!
SEC. 4. This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:
In order that accountants be permitted to lawfully provide services to their clients in California as soon as possible, it is necessary that this bill take effect immediately.
Hilarious. They make it sound like if they stuck to the original target date of January 1, 2014 everyone has known about forever, the zombie apocalypse would strike California CPAs across the state. The language is standard in bills like this except, like Mad Libs, you just write in whatever important-sounding crap that will make it appear as though this really is that urgent. In this case, however, the reasoning for a rush order is frail at best.
According to the California Board of Accountancy, SB 823 is not intended to give procrastinators more time to procrastinate. Never mind everyone knew this change was coming yeeeeears ago:
There was concern that applicants coming up on the January 1, 2014 date may have begun their collegiate life and undertaken completing the required education based on the present pathway requirements , and for those who elected to seek licensure under Pathway 1 that they would fall short of the necessary two years of general accounting experience.
This bill would address the CBA’s concerns by extending applicants’ ability to apply for licensure under the present pathway requirements until December 31, 2015 provided applicants had passed the CPA Exam on or before December 31, 2013.
SB 823 is expected to be signed into law this upcoming August or September, according to CalCPA.
