Maryland legislators advance House Bill 887 to boost CPA practice mobility

During a recent ECM Committee session, discussions centered on House Bill 887, a legislative proposal aimed at enhancing the mobility of Certified Public Accountants (CPAs) in Maryland. The bill, introduced by Delegate Valderrama at the request of the Maryland Association of CPAs, seeks to allow licensed CPAs from other states to practice temporarily in Maryland, provided they have passed the uniform CPA examination.

This legislation is particularly significant as it addresses the evolving landscape of CPA licensure across the nation. Many states are exploring alternative pathways to certification, moving away from the traditional 150-hour education requirement to more experience-based models. The Maryland Board of Accountancy is also considering similar changes to attract a more diverse group of candidates into the profession.

Rebecca Olson, CEO of the Maryland Association of CPAs, emphasized the importance of House Bill 887 for both the CPA profession and Maryland's economy. She noted that the current mobility provision allows out-of-state CPAs to practice in Maryland without needing a specific state license, which is crucial for providing timely financial expertise to businesses and residents. Olson warned that without updating Maryland's statutes, the state risks creating barriers that could hinder CPA mobility and economic growth.

The committee heard strong support for the bill, highlighting its potential to keep Maryland competitive in the face of changing national standards while ensuring consumer protection through oversight by the Maryland Board of Public Accountancy. As the discussions continue, the committee members are urged to favorably report on House Bill 887, which promises to enhance the accessibility of CPA services for Maryland residents and businesses.