Puerto Rico Society Celebrates Substantial Equivalency Victory!

October 18, 2012

Congratulations to the Puerto Rico Society of CPAs (Colegio de CPAs de Puerto Rico) from the American Institute of CPAs on its recent substantial equivalency victory. 

On Sept. 14, 2012, Puerto Rico’s Governor, Luis Fortuño, signed a bill that makes Puerto Rico’s CPA licensure requirements substantially equivalent to those of the Uniform Accountancy Act by establishing a one year experience requirement for new CPAs. 

This change is a step forward to help Puerto Rican CPAs take advantage of state license requirements and mobility laws around the country

Edna I. Jimenez, CPA, executive director of the Colegio de CPAs de Puerto Rico, said, “We are proud to have accomplished this critical step toward achieving license substantial  equivalence with other states. We especially thank the PR State Board of Accountancy and our members for all their hard work.”