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Who cares
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Sponsors
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History
- Referred to higher education
- Referred to rules
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to requiring persons seeking licensure as a certified public accountant to receive a master's degree within five years
Purpose
To require certified public accountants to obtain a master's degree in accounting, a master of business administration degree with a concentration in accounting, or a master's degree with a concentration in a program acceptable to the State Education Department as a condition for licensure.
Summary of provisions
Amends section 1, subdivision 2 of section 7404 of the education law to require individuals seeking licensure as a certified public accountant to obtain a master's degree in accounting, a master of business administration degree with a concentration in accounting, or a master's degree with a concentration in a program acceptable to the State Education Department, within five years of receiving a bachelor's degree.
Existing law
The educational requirements for those individuals who seek licensure as a certified public account, as set forth in Section 7704 of the education law is, at minimum, a bachelor's degree or a foreign equivalent.
Justification
As the accounting profession evolves, it has become necessary for individuals seeking licensure as certified public accountants to be as comprehensively trained as possible to deal with all the nuances of their professional responsibilities. This legislation would require individuals entering the profession to obtain an advanced degree while allowing them several years to do so.
Legislative history
New Legislation.
Fiscal implications
None to the state.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.