SC S0176

Reduces the educational requirement for CPA licensure from 150 semester hours to a baccalaureate degree with 24 hours of accounting courses and 24 hours of business courses, with experience requirements varying based on education level (2 years for bachelor's degree, 1 year for post-baccalaureate or 150+ hours)

Extends the CPA exam credit validity period from 18 months to 36 months, giving candidates more time to pass all sections of the Uniform CPA Examination

Streamlines reciprocity for CPAs licensed in other states by removing the "substantial equivalency" evaluation requirement, allowing out-of-state CPAs who passed the Uniform CPA Exam and hold valid licenses to practice in South Carolina

Requires firms performing compilation services for South Carolina clients to hold a state registration, and allows CPA firm ownership to be held through revocable grantor trusts

Adds electronic files and metadata tags to the list of items that must comply with requirements for using the CPA title, and requires board inspector-investigators to have been licensed as CPAs for at least five years