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 BackHOUSE OF REPRESENTATIVES
Committee Report
| Legislation: | SS 1 for SB 131 w/SA 2, SA 4 |
| Sponsor: | Sokola |
| Long Title: | AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO CERTIFIED PUBLIC ACCOUNTANTS. |
| Committee: | POLICY ANALYSIS & GOVERNMENT ACCOUNTABILITY |
| Number of Committee Members: | 5 |
| Date of Report: | 06/12/2008 |
| Committee Vote: | Favorable: | On Its Merits: | Unfavorable: |
| 0 | 3 | 0 |
Purpose of the Bill : To bring Delaware accountancy law into conformity with established national licensing standards currently adopted in 49 other jurisdictions. This will allow Delaware CPAs to practice in other jurisdictions by what is known as “substantial equivalency” and to grant authority to the Delaware State Board of Accountancy to regulate out-of-state CPAs who practice in Delaware. The bill updates the composition of the board and grants the Board authority to refer complaints of unlicensed practice and to impose fines and disciplinary sanctions.
Committee Findings: Kim Gomes, representing the Delaware Society for CPAs, said that the bill would bump up Delaware standards so they are equivalent to that of other states, with the bulk of the bill concerning substantial equivalency and mobility, or reciprocity. The bill was vetted and all major parties concerned had signed off with the exception of DTCC. The bill would require that individuals take at least 120 credit hours prior to taking the CPA exam. Members of the committee questioned those present about the DTCC objections and asked James Collins of the Board of Professional Regulation to obtain statistics about pass/fail rates of DTCC associate’s degree holders who take the CPA exam without obtaining further education. The committee felt that this information would be necessary for the full House to consider the bill.
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