Bill > HB4892

This bill modifies the Michigan Occupational Code's provisions regarding accounting firms and licensed certified public accountants (CPAs), making several key changes. The bill updates language to be gender-neutral, clarifies conditions under which out-of-state accounting firms can operate in Michigan, and introduces a new provision allowing sole proprietorship CPAs to practice without obtaining a separate firm license. The bill maintains existing requirements that accounting firms have a majority of owners who are licensed CPAs and that attest and compilation services be supervised by licensed CPAs. It also provides guidelines for temporary and periodic practice by out-of-state CPAs, including the requirement to obtain a temporary permit from the state department. Additionally, the bill specifies conditions under which non-Michigan licensed firms can perform review engagements, examinations, and other accounting services in the state, primarily by ensuring the work is done through individuals with practice privileges and that the firm meets specific ownership and supervision requirements. A notable new provision allows individual CPAs operating sole proprietorships in Michigan to practice without obtaining a separate firm license, which could simplify regulatory requirements for some accounting professionals.

Budget and Finance

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