FL S1656

Revises work experience requirements for certified public accountant (CPA) licensure to require verification by a licensed CPA but removes the requirement that the CPA must have supervised the applicant.

Adds a new pathway for licensure by endorsement allowing applicants who have held a valid CPA license in another state or territory for at least 10 years to apply without meeting education and work experience requirements, provided they passed an equivalent licensing exam and meet good moral character standards.

Updates reactivation requirements for inactive or delinquent CPA licenses, establishing a 120-hour continuing education requirement (including 30 hours accounting/auditing and 8 hours ethics) for licenses inactive on June 30, 2012, with notification to the Board by December 31, 2012, and completion by June 30, 2014.

Adds provisions for reactivating licenses delinquent due to failure to report completed continuing education, requiring payment of an application fee and submission of a complete application by March 15 following the delinquent period.

Requires the Board of Accountancy to complete a report assessing potential cost savings from privatizing the Division of Certified Public Accounting and submit it to the legislature by November 30, 2012.