Certified Public Accountants; revise education and experience requirements for licensure., the official text

MISSISSIPPI LEGISLATURE

2026 Regular Session

To: Business and Commerce

By: Representative Yancey

House Bill 1137

(As Sent to Governor)

AN ACT TO AMEND SECTION 73-33-5, MISSISSIPPI CODE OF 1972,
TO PROVIDE CERTAIN EDUCATION AND EXPERIENCE REQUIREMENTS FOR A PERSON SEEKING
LICENSURE AS A CERTIFIED PUBLIC ACCOUNTANT; TO REQUIRE A CANDIDATE FOR
LICENSURE TO PASS ALL SECTIONS OF THE UNIFORM CPA EXAMINATION FOR THE INITIAL
ISSUANCE OF A LICENSE; TO AMEND SECTION 73-33-17, MISSISSIPPI CODE OF 1972, TO
REQUIRE THE SAME EDUCATION AND EXPERIENCE FOR A PERSON LICENSED AS A CPA IN
ANOTHER STATE WHO IS SEEKING PRACTICE PRIVILEGES IN THIS STATE; TO BRING
FORWARD SECTION 73-33-9, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE
AMENDMENT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1.  Section
73-33-5, Mississippi Code of 1972, is amended as follows:

73-33-5.  (1)  The
Mississippi State Board of Public Accountancy is * * *hereby authorized with the following powers and
duties:

(a)  To adopt a seal;

(b)  To govern its
proceedings;

(c)  To set the fees
and to regulate the time, manner and place of conducting examinations to be
held under this chapter. * * *To be admitted to the examination, a candidate must have completed a
baccalaureate degree of at least one hundred twenty (120) collegiate‑level
semester hours of education or its equivalent at a college or university
acceptable to the board.  The education program shall include an accounting
concentration or the equivalent as determined by the board to be appropriate in
its rules and regulations.  The examination shall cover branches of knowledge
pertaining to accountancy as the board may deem proper.  A total of one hundred
fifty (150) collegiate‑level semester hours of education shall be
required before the board shall accept an application for a certified public
accountant license under this chapter A candidate for licensure
must pass all sections of the Uniform CPA Examination for the initial issuance
of a license under this chapter;

(d)  To initiate
investigations of certified public accountant and certified public accountant
firm practices;

(e)  To notify
applicants who have failed an examination of such failure and in what branch or
branches deficiency was found;

(f)  To adopt and
enforce such rules and regulations concerning certified public accountant
examinee and licensee qualifications and practices and certified public
accountant firm permits and practices as provided in this chapter and as
the board considers necessary to maintain the highest standard of proficiency
in the profession of certified public accounting and for the protection of the
public interest.  The standards of practice by certified public accountants and
certified public accountant firms shall include generally accepted auditing and
accounting standards as recognized by the Mississippi State Board of Public Accountancy;

(g)  To issue certified
public accountant licenses under the signature and the official seal of the
board as provided in this chapter; and to issue permits to practice public
accounting to certified public accountant firms pursuant to such rules and
regulations as may be promulgated by the board;

(h)  To employ
personnel;

(i)  To contract for
services and rent; and

(j)  To adopt and
enforce all such rules and regulations as shall be necessary for the
administration of this chapter; * * *provided, however, no adoption or modification
of any rules or regulations of the board shall become effective unless any
final action of the board approving such adoption or modification shall occur
at a time and place which is open to the public and for which notice by mail or
electronic mail of such time and place and the rules and regulations proposed
to be adopted or modified has been given at least thirty (30) days prior
thereto to every person who is licensed and registered with the board.

(2)  To be admitted to
the examination provided under subsection (1)(c) of this section, a candidate
for licensure must have completed:

(a)  A postgraduate
degree acceptable to the board, including an accounting concentration or
equivalent as determined by board rule, at a college or university;

(b)  A baccalaureate
degree with additional semester credit hours for a total of one hundred fifty
(150) or more semester hours, all acceptable to the board and including an
accounting concentration or equivalent as determined by board rule, at a
college or university; or

(c)  A baccalaureate
degree acceptable to the board, including an accounting concentration or
equivalent as determined by board rule, at a college or university.

(3)  In addition to the
education requirements provided in subsection (2) of this section, a candidate
for licensure must have:

(a)  For candidates
who meet the education requirements provided in subsection (2)(a) or (b) of
this section, one (1) year of experience as defined by board rule; or

(b)  For candidates
who meet the education requirements provided in subsection (2)(c) of this
section, two (2) years of experience as defined by board rule.

The experience required
under this subsection (3) shall include providing any type of service or advice
representing the skills needed at the time of initial licensure to serve the
public, including accounting, attest, compilation, management advisory,
financial advisory, tax or consulting skills, verified by a licensee and
meeting the requirements defined by board rule.  This experience may be
obtained through employment in government, industry, academia or public
practice.

(4)  Any licensee who has
passed all sections of the Uniform CPA Examination and holds a valid license
that was issued by the board prior to January 1, 2012, is exempt from the
education and experience requirements set forth in subsections (2) and (3) of
this section.

(5)  Each application
or filing made under this section shall include the social security number(s)
of the applicant in accordance with Section 93-11-64, Mississippi Code of 1972.

SECTION 2.  Section
73-33-17, Mississippi Code of 1972, is amended as follows:

73-33-17.  (1)  An
individual whose principal place of business is not in this state * * * and; who holds a valid license as a
certified public accountant from any state * * * that requires,
as a condition of licensure, that an individual:

(a)
Has at least one hundred fifty (150) semester hours of college education
including a baccalaureate or higher degree conferred by a college or
university;

(b)  Achieves a passing grade on;
who has passed all sections of the Uniform * * *Certified Public Accountant CPA
Examination; and * * *

(c)
Possesses at least one (1) year of experience verified by a licensee, including providing any type of service or advice involving the use of accounting, attest,
compilation, management advisory, financial advisory, tax or consulting
skills, which may be obtained through
government, industry, academic or public practice; shall be deemed to have
qualifications substantially equivalent to this state's requirements and
who has completed the education and experience requirements in Section 73-33-5(2)
and (3), shall have all the privileges of licensees of this state without
the need to obtain a license from the Mississippi State Board of Public
Accountancy.  Notwithstanding any other provision of law, an individual who
offers or renders professional services, whether in person, or by mail,
telephone or electronic means, under this section shall be granted practice
privileges in this state, and may use the title "CPA" or "Certified
Public Accountant," and no notice, fee or other submission shall be
provided by any such individual.  Such an individual shall be subject to the
requirements of subsection (3) of this section. * * * In the
implementation and application of paragraphs (a) through (c) of this subsection
(1), the Mississippi State Board of Public Accountancy shall, for uniformity
purposes with other states, consider
how the majority of other states with similar provisions implement those
provisions and shall be reasonably consistent with those states.

(2)  An individual whose
principal place of business is not in this state * * * and; who * * *holds on or before December 31, 2025, held
a valid license as a certified public accountant from any state * * * that does not meet the requirements of subsection (1) of
this section, but the individual's certified public accounting qualifications
are verified by the board's designee as substantially equivalent to those
requirements, shall be deemed to have qualifications substantially equivalent
to this state's requirements and; who has passed all sections of
the Uniform CPA Examination; and who on or before December 31, 2025, had practice
privileges in this state under this section, shall continue to have practice
privileges in this state and shall have all the privileges of licensees of
this state without the need to obtain a license from the Mississippi State
Board of Public Accountancy. * * *  Any individual who passed the Uniform CPA Examination
and holds a valid license issued by any other state prior to January 1, 2012,
may be exempt from the education requirement in subsection (1) of this section
for purposes of this subsection. Notwithstanding any other provision
of law, an individual who offers or renders professional services, whether in
person, or by mail, telephone or electronic means, under this section shall be
granted practice privileges in this state, and may use the title
"CPA" or "Certified Public Accountant," and no notice, fee
or other submission shall be provided by any such individual.  Such an
individual shall be subject to the requirements of subsection (3) of this
section.

(3)  Any individual licensee
of another state exercising the privilege afforded under this section and the
firm which employs that licensee hereby simultaneously consent, as a condition
of the grant of the privilege:

(a)  To the personal
and subject matter jurisdiction and disciplinary authority of the board;

(b)  To comply with
this chapter and the board's rules;

(c)  That in the event
the license from the state of the individual's principal place of business is
no longer valid, the individual will cease offering or rendering professional
services in this state individually and on behalf of a firm; and

(d)  To the appointment
of the state board which issued their license as their agent upon whom process
may be served in any action or proceeding by this board against the licensee.

(4)  An individual who has
been granted practice privileges under this section who, for any entity with
its home office in this state, performs any of the following services:

(a)  Any financial
statement audit or other engagement to be performed in accordance with
Statements on Auditing Standards;

(b)  Any examination of
prospective financial information to be performed in accordance with Statements
on Standards for Attestation Engagements; or

(c)  Any engagement to
be performed in accordance with PCAOB Auditing Standards;

may only do so through a firm
which has obtained a permit issued under Section 73-33-1(3).

(5)  A licensee of this
state offering or rendering services or using their CPA title in another state
shall be subject to disciplinary action in this state for an act committed in
another state for which the licensee would be subject to discipline for an act
committed in the other state.  The board shall be required to investigate any
complaint made by the State Board of Public Accountancy of another state.

SECTION 3.  Section
73-33-9, Mississippi Code of 1972, is brought forward as follows:

73-33-9.  The Mississippi
State Board of Public Accountancy may, in its discretion, issue a reciprocal
certified public accountant license to practice to any holder of any certified
public accountant's certificate or license issued under the law of another
state, which shall entitle the holder to use the abbreviation, "CPA,"
in this state provided that the state issuing the original certificate or license
grants similar privileges to the certified public accountants of this state.
The fee for a license shall be in such reasonable amount as determined by the
board.  Such license shall not allow the holder thereof to engage in the
practice of public accounting as a certified public accountant unless the
holder meets the requirements of the Mississippi State Board of Public
Accountancy.  This section shall apply only to a person who wishes to obtain a
license issued by the State of Mississippi and shall not apply to those persons
practicing in this state under Section 73-33-17.  The issuance of a license by
reciprocity to a military-trained applicant, military spouse or person who
establishes residence in this state shall be subject to the provisions of
Section 73-50-1 or 73-50-2, as applicable.

SECTION 4.  This act
shall take effect and be in force from and after July 1, 2026.