The bill amends the Occupational Code of Michigan, specifically sections 725 and 727a, to update the requirements for individuals seeking certification as certified public accountants (CPAs). Key changes include a reduction in the required college education from at least 150 semester hours to not less than 60 semester hours, and the requirement for an associate degree or higher with a concentration in accounting instead of a baccalaureate degree. Additionally, the bill stipulates that applicants must have at least one year of verified qualifying experience, which can be gained through various professional accounting-related activities.

Furthermore, the bill clarifies that individuals whose principal place of business is outside Michigan can practice public accountancy in the state without needing a certificate or license if they hold a valid CPA license from another jurisdiction that meets specific educational and experience criteria. It also ensures that such individuals can offer professional services without additional notice or fees, while still being subject to certain state requirements. Overall, these amendments aim to streamline the certification process and enhance the ability of out-of-state CPAs to practice in Michigan.

Statutes affected:
House Introduced Bill: 339.725, 339.727