This bill amends various sections of the Alaska Statutes related to the practice of accounting, primarily focusing on the education and experience requirements for applicants seeking to become certified public accountants (CPAs). Notably, the requirement for additional semester hours or post-baccalaureate study to total at least 150 hours has been deleted, simplifying the educational criteria to just a baccalaureate degree with an accounting concentration. The bill also modifies the conditions under which initial permits and practice privileges are issued and renewed, removing references to certain subsections and clarifying the requirements for individuals and firms engaging in public accounting.

Additionally, the bill introduces new provisions that allow firms more flexibility in practicing public accounting without needing to notify the board or pay fees, as long as they meet specific ownership and operational criteria. It establishes that firms can engage in public accounting under a practice privilege if they are primarily owned by certified public accountants and have their principal place of business in another state. The bill also outlines the conditions for maintaining practice privileges and the grounds for disciplinary actions against firms. The effective date for these changes is set for January 1, 2026.

Statutes affected:
HB0121A, AM HB 121, introduced 02/28/2025: 08.04.120, 08.04.240, 08.04.360, 08.04.370, 08.04.425, 08.04.426, 08.04.420, 08.04.422, 08.04.480, 08.04.450, 08.04.490, 08.04.495, 08.01.065, 08.04.510, 08.04.530, 08.04.565