SB 1240
An Act amending the act of May 26, 1947 (P.L.318, No.140), known as the CPA Law, further providing for requirements for issuance of certificate.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill amends the Pennsylvania CPA Law to clarify the educational requirements for individuals seeking to take the CPA exam. Specifically, it updates the requirements for both bachelor's and master's degree holders, specifying the number of semester credits needed in accounting and auditing, business law, economics, technology, finance, or tax subjects. The board must determine that an applicant meets these requirements before allowing them to take the exam.
Key provisions
- Increases the required semester credits for a bachelor's degree in accounting and auditing from 12 to 24.
- Increases the required semester credits for a master's degree in accounting and auditing from 12 to 24.
- Specifies acceptable subjects for the required credits (accounting and auditing, business law, economics, technology, finance, or tax).
- Clarifies that the required credits do not necessarily need to be part of the individual’s undergraduate or graduate work.
- Updates Section 4.2(b)(3) of the CPA Law.
- The act takes effect immediately.
Who is affected
- Certified Public Accountants (CPAs)
- Individuals seeking to become CPAs
- The State Board of Accountancy
- Educational institutions offering accounting degrees
Notable changes
- Changes the specific credit requirements for bachelor's and master's degrees in accounting.
- Adds a clarification that required credits do not need to be part of the individual’s degree program.
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