MO HB1797

Repeals and replaces seven sections of Missouri law (326.256, 326.277, 326.280, 326.283, 326.286, 326.289, and 326.292) governing the licensing of certified public accountants

Removes the "substantial equivalency" standard for out-of-state CPA practice privileges and replaces it with specific education, examination, and experience requirements that must have been met at the time of initial licensure in another state

Creates three pathways for CPA licensure: (1) baccalaureate degree with 2 years experience, (2) baccalaureate degree plus 30 additional semester hours with 1 year experience, or (3) post-baccalaureate degree with 1 year experience

Allows sole practitioners or single-member LLCs using CPA titles to request exemption from firm permit requirements if they do not offer attest services or other services subject to peer review

Violations of certain provisions constitute a Class A misdemeanor, and peer review requirements for firms performing attest or compilation services must occur no more frequently than every three years