As the value of the CPA continues to be questioned by professionals at all levels of the accounting field, legislation in Florida that aims to eliminate the state’s Board of Accountancy and continuing professional education requirements. These moves come in the context of growing labor trends in accounting that are increasingly impacting CFOs.
Though the state once positioned itself as a leader in professional standards, becoming the first to implement the 150-hour requirement, recent efforts to scale back oversight have drawn national attention to Florida and raised eyebrows for CPAs that are currently practicing there.
House Bill 991, the original piece of legislation, was later folded into a piece of legislation focused on rural development called Senate Bill 110 in what is known as a bill swap. The move was widely seen as a strategic effort to keep the deregulation language alive by attaching it to a more broadly supported bill. But, after significant pushback from the accounting profession nationwide, including more than 1,000 letters of opposition and lobbying efforts from the Florida Institute of CPAs, the Senate declined to adopt the House’s amendments.
The push for deregulation comes amid broader efforts to consolidate regulatory oversight across Florida, other states and the federal government alike. At the heart of the debate is whether oversight of complex, high-impact professions like accounting should be centralized under a general agency like the Department of Business and Professional Regulation, rather than governed by a board of subject-matter experts.
Opponents of the bill, like the FICPA, argue such a move could disrupt interstate licensure reciprocity and diminish the credibility of the CPA license. Supporters say the current board structure promotes bureaucracy and creates unnecessary barriers to entry.
Despite the stall, FICPA leaders warn that the risk of deregulation remains. The bill is still eligible for discussion during budget negotiations and could be revived in the coming weeks before the legislative session concludes. Though the FICPA did not respond to CFO.com on the matter by the time of publishing, the organization did detail its thoughts and efforts in a YouTube video posted on May 3 after the Senate rejected the House’s efforts.
“The Senate took up the bill and refused to concur with the House amendment that had all of the deregulation in it — the issue about the board of accountancy and the continuing education. So the Senate stood strong and said, ‘No, we don’t want that,’” said Jason Harrell, chief external affairs officer at the FICPA. “That is kind of where the bill stayed, which is kind of an awkward spot because then the rest of the week was, I think, a full-on scramble to make sure that we were able to prevent this bill from passing.”
FICPA CEO Shelly Weir also commented during the organization’s video update, saying, “Not just Florida CPAs, but frankly the entire country, all of the CPAs’ eyes are on Florida at this moment, and it’s been a very busy and hectic last couple of days here.”
Now, the bill is back in procedural limbo, where it remains during Florida’s extended legislative session, which is set to conclude June 6. It is currently “in messages,” meaning the House has until the end of the session to propose new amendments or negotiate with the Senate. If no agreement is reached, the bill will die.
“We’ve entered a much safer zone,” Weir added, “But we’re not 100% out of the woods yet.”
