SB 727 Summary

• Establishes a "practice privilege" allowing certified public accountants licensed in other states with substantially equivalent qualifications to practice in Hawaii without obtaining a Hawaii license, limited to 120 days per calendar year.

• Requires out-of-state CPAs exercising practice privileges to consent to Hawaii Board of Public Accountancy jurisdiction, comply with Hawaii law, and notify the board of disciplinary actions or criminal convictions within 30 days.

• Modifies firm permitting requirements to allow firms without Hawaii offices to perform certain audit and attestation services for clients with home offices in Hawaii through individuals with practice privileges or valid permits.

• Expands definitions of "attest" and "report" services to include additional examination, review, and agreed-upon procedures engagements under professional standards.

• Sunsets on June 30, 2025, with specified provisions reverting to prior law unless reenacted by the legislature.