Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature

New Law: CPA, other accountancy changes

Published (4/25/2008)
By Craig Green
Share on: 

There will be a few adjustments to the Board of Accountancy, thanks to a new law signed by Gov. Tim Pawlenty April 17.

Sponsored by Rep. Joe Atkins (DFL-Inver Grove Heights) and Sen. Ann Rest (DFL-New Hope), the law changes the way the board operates and moves up opportunities for those wanting to become a certified public accountant.

The new law brings Minnesota statute in line with the Uniform Accountancy Act; requires that no fewer than two of the seven members of the Board of Accountancy be owners or employees of a qualifying certified public accountant firm; and eliminates the requirement for the board to have a judicially noticed seal.

It also allows anyone in their last semester of college to take the exam to qualify as a CPA.

Once a certificate of qualification is given, the law states the certificate would be good for three years, a change from the previous process that required a yearly renewal.

There is an increase in the annual fee to practice as a CPA firm from $35 to $68, and the initial CPA permit fee will be $100 for firms with one or more offices located in another state.

The law is effective April 18, 2008.


Session Weekly More...

Session Weekly Home

Related Stories

Minnesota Index
Figures and statistics on nonprofits in Minnesota
(view full story) Published 4/25/2008

First Reading: A roll of the dice
Pair of bills seek to determine whose life (insurance policy) is it anyway?
(view full story) Published 4/18/2008

At Issue: Pawlenty of plans
Governor offers lots of betterment ideas in State of the State address.
(view full story) Published 2/15/2008