State Board Passes Mobility Rules

At its meeting Sept. 20, 2007 the Texas State Board of Public Accountancy (TSBPA) approved new rules to implement the changes to the accountancy act passed by the 80th Texas Legislature easing restrictions on out-of-state CPAs that practice in Texas.

The new rules provide for the licensing of out-of-state CPA firms that audit Texas entities and implemented the no-license, no-notification practice privilege out-of-state CPAs and CPA firms are entitled to under the new law.

All CPAs practicing under this new practice privilege are subject to Texas laws and rules and the specific jurisdiction of the TSBPA.

The Board also approved a reduction of the CPA exam eligibility fee from $70 to $35 per exam section and new rules reducing the financial burden for former Texas CPAs that are returning to the state after practicing in another state.

In other new rules, TSBPA provided for the exemption from the $200 professional fee for CPAs employed by cities, counties and other states provided the CPAs job prohibits participation in a public accounting practice and authorized the referral of CPAs to a Peer Assistance Program when evidence of substance abuse occurs.