CPA licensure rules updated

Lawmakers passed a measure Feb. 20 intended to increase licensure access to those seeking to become certified public accountants in Nebraska.

Currently, to sit for the CPA exam in Nebraska, one must have completed 150 semester-hours of postsecondary academic credit, earned a bachelor’s degree or higher from an accredited college or university and demonstrated professional competency.

LB718, sponsored by Sen. Mike Jacobson of North Platte, instead creates three distinct licensure pathways in the state:
• a master’s degree plus one year of experience;
• a bachelor’s degree plus 30 additional credit hours and one year of experience;
• a bachelor’s degree plus two years of professional experience.

The measure also clarifies that passing the exam is not the same as being credentialed as a CPA, aligns Nebraska law with the Uniform Accountancy Act and clarifies that administrative lapses are not considered ethical violations for disciplinary purposes.

Lawmakers passed LB718 on a 48-0 vote.