Bill > SB076

This bill modifies the requirements for becoming a Certified Public Accountant (CPA) in Colorado, primarily by adjusting educational and experience benchmarks and clarifying practice privileges for out-of-state CPAs. Starting January 1, 2027, individuals seeking a CPA certificate will need to meet new educational pathways, which include a bachelor's degree plus an additional thirty semester hours or a post-baccalaureate degree, all from accredited institutions with board-approved accounting programs or equivalent concentrations. The work experience requirements are also adjusted, with the amount of accounting-related experience needed varying based on the chosen educational pathway, and this experience must be verified by a licensed CPA. The bill also clarifies that to be eligible to take the CPA exam, candidates must have obtained a bachelor's degree and completed an accounting program or its equivalent, or be currently enrolled in a combined degree program and have met the bachelor's degree requirements. Furthermore, it grants CPAs licensed in other U.S. states or jurisdictions, whose principal place of business is elsewhere, the same practice privileges as Colorado certificate holders, allowing them to offer professional services in the state without needing a Colorado certificate, provided they met specific educational and examination requirements at the time of their initial licensure in their home state. This provision also includes a grandfather clause for those who already had practice privileges in Colorado as of December 31, 2024, and the board will not impose additional notice or fee requirements for these out-of-state CPAs to exercise their practice privileges.