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Committee eyes narrow 2027 legislative concept to preserve board oversight of firms tied to PE ownership
Summary
Executive staff said the board is considering a narrowly framed 2027 legislative concept to ensure the Board of Accountancy can continue to regulate entities that emerge from APSPE ownership changes; members discussed timeline and the risk Oregon could be an outlier.
Executive Director Martin Petioni told the Laws & Rules Committee the board is exploring a narrowly crafted legislative concept for the 2027 session to preserve the Board’s authority over entities that emerge when existing CPA firms undergo private‑equity (APSPE) ownership changes. Petioni said the goal is a targeted concept that would allow the board to maintain consistent regulation and, if adopted close to exposure text, could have an intended effective date tied to early February; he asked the committee to aim to complete drafting for submission to legislative counsel by the June 4 board meeting.
Chair Jason Orm and committee members warned the proposal will be a delicate policy lift because Oregon could be “an outlier” among states. Orm suggested the committee run Ray Johnson’s redraft in a public LRC session before the board meeting so the board receives an LRC‑endorsed product. “We have until realistically, ideal would be for us to be able to finish the drafting process by the June 4 board meeting,” Petioni said, framing the timetable for potential legislative action.
