SB 1405 Summary

• Allows certified public accountants and public accountants on active military duty to place their permits in "military inactive status" beginning January 1, 2014, exempting them from biennial renewal fees, continuing education, and peer review requirements.

• Modifies out-of-state accountant practice privileges effective July 1, 2013 through January 1, 2019, eliminating notification forms and fees while restricting practice to audits, reviews, and compilations through registered California firms.

• Requires out-of-state accountants with disqualifying conditions (license discipline, criminal convictions, SEC/PCAOB bars) to cease practice and notify the board within 15 days or face discipline and practice prohibitions.

• Directs the board to establish website features by July 1, 2013 allowing consumers to search and obtain disciplinary information about out-of-state accountants exercising practice privileges in California.

• Authorizes the board to require out-of-state accountants from specific states to file notification forms and pay fees if the board determines practice privileges violate its duty to protect the public, effective January 1, 2016.