The proposed bill aims to modernize the statutes governing certified public accountants (CPAs) in Arizona by introducing new criteria for certification and updating existing definitions. It replaces the current 2,000-hour work experience and 150-semester hour education requirements with more flexible options, such as a baccalaureate degree with two years of experience or a postbaccalaureate degree with one year of experience. The bill removes the specific semester hour requirements in accounting and related courses and empowers the Board to establish rules regarding necessary semester hours for CPA applicants. Additionally, it introduces definitions for terms like "limited reciprocity privilege" and "postbaccalaureate degree," enhancing clarity in the regulatory framework. Moreover, the bill expands the powers of the Arizona State Board of Accountancy by including the protection of the public from unprofessional CPA firms and allowing investigations into complaints against CPA firms. It also limits the continuing professional education requirement to 80 hours and clarifies that this limit applies to any two-year registration period. The legislation will be known as the "Certified Public Accountancy Act of 2026" and is set to become effective on January 1, 2027, with various technical and conforming changes to ensure consistency within the law.

Statutes affected:
Introduced Version: 32-701, 32-703, 32-721, 32-723, 32-725, 32-729, 32-730, 32-730.02, 32-730.06, 32-731, 32-732, 32-741, 32-741.01, 32-741.02, 32-742, 32-743, 32-749, 32-702, 32-730.04, 32-730.01, 41-1080, 32-4302, 32-4301, 41-1092.08