Senate Bill 732 proposes significant changes to the laws governing the practice of accounting in Wisconsin, particularly regarding the educational and experience requirements for obtaining a Certified Public Accountant (CPA) certificate. The bill replaces the existing requirement of 150 semester hours of education and one year of public accounting experience with new pathways based on the applicant's degree. It allows individuals to take the CPA examination after receiving a bachelor's degree or completing 120 hours of education. Additionally, the bill details the work experience requirements and how the Accounting Examining Board will evaluate this experience. It also modifies the rules for individuals licensed in other states, allowing them to practice in Wisconsin without needing third-party verification, provided they meet similar requirements.

The bill includes several amendments and deletions to existing statutes, such as repealing the requirement for 150 semester hours and one year of public accounting experience, and creating new provisions for work experience verification. It also renumbers and amends various sections to align with the new requirements, including changes to continuing education requirements for license renewal. Overall, the bill aims to streamline the process for becoming a CPA in Wisconsin while ensuring that candidates possess the necessary skills and experience to serve the public effectively.

Statutes affected:
Bill Text: 442.025(4)(a)2, 442.025, 442.03, 442.04(5)(b)3, 442.04, 442.04(5)(b)4, 442.04(5)(b)5, 442.04(6)(b)