Bill > HB4892

This bill modifies Michigan's Occupational Code to update requirements for accountancy firm licensing and practice. The bill makes several key changes, including allowing non-certified public accountant employees to work for accounting firms without issuing financial statements, permitting licensed certified public accountants from other jurisdictions to temporarily practice in Michigan with a temporary permit, and clarifying licensing requirements for accounting firms. Specifically, the bill updates provisions for firms establishing offices in Michigan, requiring that at least a majority of equity and voting rights be held by licensed certified public accountants, and allows certain firms to perform professional services without a Michigan license if they meet specific conditions, such as having individuals with practice privileges and being authorized in their primary licensing jurisdiction. The bill also adds a new provision that exempts sole proprietorship certified public accountants from obtaining a separate firm license when establishing an office in the state. These changes aim to provide more flexibility for accounting professionals while maintaining professional standards. The amendments will take effect 90 days after the bill is enacted into law.

Budget and Finance, Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4892