By Jason Fox

We Advocate For You — No Matter Where Your CPA Journey Has Taken You

One of the best things about the CPA profession is how many opportunities it affords . It ’ s an open highway with countless options to pursue . You can work in tax , assurance , advisory — or become a CFO . You can work in a big firm , a small firm or be an entrepreneur with your own practice . You can also work for a client or employer in countless industries .

Because CPAs are engaged in such a wide range of activities , there are lots of public policy issues of interest to them . Yes , there are certain core profession areas like licensing and oversight functions that are inherent to all CPAs , but there are other areas that are unique to different areas and industries that CPAs work in .

CalCPA provides value and support for our members regardless of what they do , where they work or who they work for . We approach our advocacy efforts in a similar fashion : We take a broad look at the issues that may emerge from the legislative or regulatory process and engage where we can to support the profession and CalCPA members working in the various industries .

This past year is a good example of the breadth of issues CalCPA advocacy has worked on . We identified pain points and offered solutions to new tax policies like the Pass-Through Entity Tax ( PTET ); clarified conformity to emergency deadline extensions ; and facilitated liaison meetings with tax agencies to provide input and help shape tax policies and procedures . We engaged in emerging assurance areas , like greenhouse gas emissions , to set the foundation for how CPAs can advise and provide the required assurance for impacted entities .

On the federal level we worked with the AICPA to advocate with California ’ s Congressional delegation on federal policies related to simplified tax extensions ; delays in Beneficial Ownership Information reporting deadlines so key aspects can be clarified ; and pipeline support including recognizing accounting as STEM and the expansion of 529 funds for professional licenses . We also worked :

• To advance education policies that would expand personal financial education in high schools ;

• With the CBA on various issues , including providing additional oversight of the Peer Review program and supporting its role in promoting quality within the profession , as well as business modernization efforts to expedite the application and renewal process , including simplifying the uploading of CPE documents .

• With stakeholders to develop and implement changes that streamlined the licensure process and provided critical relief for candidates whose testing was disrupted by the pandemic and exam changes ; and .

• Navigate an uncertain political landscape and build relationships with key decisionmakers across the political spectrum . But wait , there ’ s more . We provided hours of advocacy updates to members , CalCPA leaders , committees , chapters and other stakeholder groups , and where there are opportunities for the profession to engage .

We ’ re involved in a lot of different areas because the profession is involved in a lot of different areas . So wherever you go with your CPA licenses , CalCPA ’ s advocacy team will be there to support you and provide a good foundation to do what you do best — add value to your clients , employer and public consumers at large .

Next Year Starts Anew While the 2023 advocacy year has been a successful effort , CalCPA ’ s efforts aren ’ t planning on taking any time off . Next year will bring a fresh mix of legislative and regulatory proposals to review , analyze and provide comments on . We will also be heading into an election year with high political stakes clouding policy discussions .

To get ahead of it all CalCPA will be organizing our annual Legislative Summit and CPA Day in January . Keep an eye out for CalCPA communications with details and opportunities to participate .

CBA Approves Plan to Extend Exam Credits Lost During COVID Disruptions With the support of CalCPA , the California Board of Accountancy has approved a plan to extend Uniform CPA Exam credits lost during COVID disruptions .

The action comes after a discussion of NASBA and AICPA ’ s Credit Reinstatement Initiative , which aimed to offer states options for providing relief to candidates who faced disruptions caused by the pandemic while they were in the process of taking the exam .

Specifically , the CBA will extend exam credits that expired between Jan . 30 , 2020 , and Dec . 31 , 2023 , to June 30 , 2025 . This extension serves as a blanket measure for all affected candidates .

The CBA said that approximately 2,500 California candidates had 3,200 section credits expire during this period . The new expiration date also coincides with similar extensions offered to candidates testing while the exam transitions to the new CPA Evolution format .

The CBA is developing guidance and FAQs for candidates affected by this extension . As it rolls out more details and guidance , CalCPA will keep candidates informed of the new relief afforded to them . In the meantime , if you know of any impacted candidates , we encourage them to check upcoming CBA and CalCPA communications for additional info .

Jason Fox is CalCPA ’ s vice president of advocacy and government affairs . You can reach him at jason . fox @ calcpa . org . www . calcpa . org DECEMBER 2023 CALIFORNIA CPA 27