California has joined the states mandating the 150-hourrule, as Gov. Arnold Schwarzenegger has signed into law SB 819 requiring allCalifornia CPAs licensed after 2014 to have 150 hours of college educationprior to licensing.
California CPAs licensed prior to 2014 will begrandfathered in as substantially equivalent.
Colorado, Puerto Rico, and the U.S. Virgin Islands remainholdouts on the 150-hour rule.
Additionally, Schwarzenegger signed AB 138, whichrequires mandatory peer review for CPA firms, which begins in 2010, butimplementation will be phased in over a three-year period.
Also signed into law were AB 117, which requires licensestatus disclosure for inactive CPAs.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access