The Uniform Accountancy Act (UAA) is an "evergreen" model licensing law endorsed by the AICPA and NASBA that provides a uniform approach to regulation of the accounting profession. The UAA provides a comprehensive system for enhancing public protection, facilitating consumer choice, and supporting the efficient operation of the capital markets.
Under Section 23 of the UAA, a CPA with a license in good standing from a jurisdiction with CPA licensing requirements essentially equivalent to those outlined in the UAA is deemed to be “substantially equivalent,” or a licensee who individually meets the requirements of:
- Obtaining 150 credit hours with a Baccalaureate Degree
- Minimum 1 year of CPA experience
- Passing the Uniform CPA Examination
This provision provides the right balance of trust and public protection. By removing boundaries to practice in the U.S., CPAs are able to more readily serve individuals and businesses in need of their expertise. At the same time, the state board of accountancy’s ability to discipline is enhanced by being based on a CPA and the CPA firm’s performance of services (either physically, electronically, or otherwise within a state, rather than being based on whether a state license is held.