HB 243 Summary

• Grants out-of-state CPAs with valid licenses from substantially equivalent jurisdictions automatic practice privileges in Hawaii without obtaining a Hawaii license, subject to board jurisdiction and compliance requirements.

• Establishes "substantial equivalency" standards based on National Association of State Boards of Accountancy verification of qualifications comparable to the Uniform Accountancy Act requirements.

• Requires out-of-state CPAs and firms exercising practice privileges to consent to Hawaii board jurisdiction, comply with board rules, maintain valid home-state licenses, and promptly report any disciplinary actions or criminal convictions.

• Modifies firm permit requirements so out-of-state firms without Hawaii offices may perform certain services (reviews and compilations) for Hawaii clients without a permit if conducted through appropriately licensed individuals, while audit and attest services require a firm permit.

• Creates disciplinary authority for the Hawaii board to take action against out-of-state licensees exercising practice privileges for violations committed in Hawaii or other states, effective January 1, 2016.