This bill amends the New Hampshire Accountancy Act by replacing the definition of "substantial equivalency" with "comparable" for evaluating foreign accountancy designations. It modifies the educational requirements for obtaining a certified public accountant (CPA) certificate, changing the requirement from a baccalaureate degree to a post-baccalaureate degree with an accounting concentration. Additionally, applicants may now sit for the CPA examination up to 120 days before they expect to receive their baccalaureate degree, as established by the board's rules. The bill also updates references to the "Uniform Accountancy Act" to reflect its amendments over time.

Key changes include the deletion of the previous definition of "substantial equivalency" and the introduction of "comparable." The educational requirements now stipulate that candidates must have a baccalaureate degree plus an additional 30 semester credit hours focused on accounting, rather than the previous requirement of 150 semester hours. The bill allows the board to waive or defer certain examination requirements for applicants facing extenuating circumstances and establishes that applicants may be charged a fee for each section of the examination or reexamination. Furthermore, the experience requirement for licensure is modified to require two years of public accounting experience for candidates applying based on educational qualifications, while those applying under different criteria will need one year of experience. The act will take effect upon its passage.

Statutes affected:
Introduced: 309-B:3, 309-B:5, 309-B:7
SB571 text: 309-B:3, 309-B:5, 309-B:7