MS HB177

Requires certified public accountants practicing public accounting under a Mississippi license to be associated and registered with a certified public accountant firm.

Authorizes the State Board of Public Accountancy to charge applicants fees for certified public accountant licenses and firm permits, and requires CPA firms to pay annual registration fees as determined by the board.

Revises substantial equivalency standards for CPA licensure of out-of-state individuals by establishing specific education, examination, and experience requirements (150 semester hours, passing Uniform CPA Exam, and one year of verified experience).

Allows out-of-state CPAs meeting substantial equivalency standards to practice in Mississippi without obtaining a Mississippi license, but requires those performing certain attest services for Mississippi entities to do so through a firm with a valid state permit.

Takes effect July 1, 2010.