CPA mobility law takes effect in Washington

BY KEN TYSIAC

A new District of Columbia law makes it easier for CPAs from other jurisdictions to practice in the nation’s capital.

The Accountant Mobility Act of 2011, which took effect on Monday, grants CPAs with valid licenses in U.S. states the ability to practice in the city without obtaining a reciprocal license.

“The Greater Washington Society of CPAs, its members, and their firms deserve much credit for their persistence in accomplishing this goal,” AICPA President and CEO Barry Melancon, CPA, CGMA, said in a statement.

In an initiative that spans the profession, the AICPA, state CPA societies, the National Association of State Boards of Accountancy, individual state boards of accountancy, and AICPA members and their firms have worked together since 2007 to update state licensing laws to create a uniform mobility system.

Last month, California became the 49th state to pass CPA mobility legislation. Efforts continue in pursuit of cross-border privileges for CPAs under a “no notice, no fee, no escape” regulatory regime in Hawaii, Puerto Rico, Guam, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands.

The District of Columbia City Council passed the Accountant Mobility Act in September 2011. The law, which was then signed by Mayor Vincent Gray, was also reviewed by Congress, as are all D.C. laws.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

SPONSORED REPORT

How to audit high risk areas

Revenue recognition, internal control over financial reporting, accounting estimates and going concern are areas of audit that have emerged as particularly challenging and complex.

NEWS

Revenue recognition revisited

A reexamination of new revenue recognition rules has led to tinkering with the standard that is considered the biggest achievement of the convergence efforts of FASB and the International Accounting Standards Board.

INTERVIEW

Staying focused at the top

Olivia Kirtley, CPA, CGMA, an accomplished corporate director with almost 20 years of experience serving on boards, talks about strategic, risk, and compliance issues that keep board members up at night.