In our winter edition of the Capitol Account, we touched on a growing threat to the CPA license – proposed legislation that deregulates occupational licenses. These bills are promoted under the guise of championing social and financial equity while eliminating industry-specific barriers to entry and are propped up by well-funded organizations with missions to diminish the rigorous standards of the CPA license and those of other learned professions. For more information, read this article in Accounting Today.
While the proponents may offer a compelling story that licensing requirements are a financial burden for some, these bills don't consider the enormous responsibility that CPAs have to their clients, who count on them to understand the complexities of state and federal laws and regulations impacting tax, audit and financial reporting. They also don't
acknowledge the public protections associated with a uniform and rigorous licensing standard. Make no mistake, these bills are a threat to not only the CPA license, but also to the public welfare.
Fortunately, no such legislation has been introduced in Massachusetts and we are confident that such efforts stand no chance of becoming law. However, we stand ready to work with our partners across industries to defeat any bill that threatens the integrity of your license. We are fortunate our legislators recognize the importance and value of maintaining occupational licensing structures and believe they will oppose any such legislation.
To address this issue nationally, the AICPA and NASBA recently formed the Alliance for Responsible Professional Licensing (ARPL)
, which is comprised of professional accounting, architecture, landscape architecture, engineering and civil engineering associations and societies.
Protecting the integrity of your license is a top priority at the MSCPA, and we will always be committed in our efforts to do so.