The American Institute of CPAs (AICPA) congratulates the Colegio de Contadores Públicos Autorizados de Puerto Rico (Puerto Rico Society of CPAs) and the Puerto Rico Board of Accountancy on the passage of their individual CPA mobility legislation. The law was signed by Governor Alejandro García Padilla (PPD-PR) on August 28, after passing the House on August 18 and the Senate on August 25.
Puerto Rico is the 52nd jurisdiction to pass an individual CPA mobility law, which allows out-of-state CPAs to operate in their jurisdictions without having to obtain a reciprocal license or register in the state. (Due to the unique history of mandatory Colegio membership for CPAs in Puerto Rico, there will continue to be some specific and limited instances where certain CPAs must be licensed members of the Colegio in order to perform attest services. However, the vast majority of incoming CPAs will operate under a “no notice, no fee, no escape” mobility regime.)
Puerto Rico’s new mobility law is effective as of the signing of the legislation.
The AICPA, state CPA societies, the National Association of State Boards of Accountancy, individual boards of accountancy, and individual CPAs and their firms have been working collaboratively since 2007 to update state and jurisdictional licensing laws across the country to create a uniform mobility system.
For more information about CPA mobility, visit the AICPA’s CPA mobility resources website page.