CPA mobility, or interstate practice, allows licensed CPAs to practice across state and jurisdictional lines as long as the CPAs are in good standing in their principal jurisdiction and meet “substantial equivalency” criteria. The website www.CPAmobility.org
is a useful resource maintained by the National Association of State Boards of Accountancy (NASBA) and developed by NASBA and the American Institute of CPAs (AICPA).
Substantial equivalency is outlined in the Uniform Accountancy Act and is described as state CPA licensing criteria that requires the “three E’s”: examinationexperienceeducation
(passage of the Uniform CPA Examination),
(one-year experience requirement), and
(150-hour education requirement).
The NASBA also provides an Accountancy Licensing Library (ALL, www.alllibrary.com
), an online resource that provides more information as well as subscriptions to its CPA licensure compliance tools.
Mobility generally permits a licensed CPA to practice in another state without obtaining another license, but the CPA is automatically subject to the jurisdiction of the other state’s board. There are also provisos to mobility that can cause a CPA to be out of compliance. For instance, a CPA may only perform the same level of services (attest or non-attest) that the CPA is permitted to perform in the CPA’s home jurisdiction. Some states require CPA firm registration or permits for out-of-state practice, especially for attest, agreed-upon procedures, forecasts, or specialized services.
CPA firms should contact state boards of accountancy for additional information and requirements, and contact other agencies, such as municipal, gambling, health services, and regulatory agencies, that might restrict the services the firm may provide.
Promptly Report Issues
CAMICO policyholders who find themselves subject to a regulatory proceeding or hearing should promptly report the issue to the CAMICO Claims department. CAMICO, at its own expense, will advise the firm and assist in responding to the proceeding or hearing. If it is determined that an attorney is required, CAMICO will pay fees and costs up to $12,500 per policy period. Penalties and monetary assessments are not covered.
The early reporting of all issues that may affect the firm’s risk exposure is a critical aspect of CAMICO’s proactive approach to risk management and loss prevention. Subpoenas, deposition notices, claims and potential claims should be promptly reported by calling CAMICO at 1.800.652.1772 and asking to speak with a Claims department representative.