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Wisconsin Legislature: SB732: Bill Text
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SB732: Bill Text
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2025 - 2026 LEGISLATURE
LRB-4702/1
MED:cdc
2025 SENATE BILL 732
December 10, 2025 - Introduced by Senator
Marklein
, cosponsored by Representatives
Wittke
,
Dittrich
,
Knodl
,
Prado
and
Wichgers
. Referred to Committee on Licensing, Regulatory Reform, State and Federal Affairs.
SB732,1,6
1
An Act
to repeal
442.04 (5) (b) 5.;
to renumber and amend
442.04 (5) (a);
to
2
amend
442.025 (4) (a) 2., 442.03, 442.04 (5) (b) 4. and 442.04 (6) (b);
to repeal
3
and recreate
442.04 (5) (b) 3.;
to create
442.04 (5m) of the statutes;
relating
4
to:
various changes to the laws governing the practice of accounting and
5
modifying various administrative rules promulgated by the Accounting
6
Examining Board relating to accounting.
Analysis by the Legislative Reference Bureau
This bill makes modifications regarding the educational requirements for taking the certified public accounting (CPA) examination or for obtaining a CPA certificate, or for practicing as a CPA based upon licensure or certification in another state.
Current law provides that a CPA certificate may be granted only to a person who has completed at least 150 semester hours of education in accounting and business subjects, as determined by the board, which issues CPA certificates and licenses. Current law also requires that the person have at least one year of public accounting experience or its equivalent. Current law also provides that a person is not eligible to take the CPA examination unless the person has completed at least 120 semester hours of education in accounting and business subjects, as determined by the board.
The bill replaces the 150 hours requirement and one year of public accounting experience with specific educational pathways and experience requirements for obtaining a CPA certificate. The methods differ depending on the degree received by the applicant. The bill also allows a person to take the CPA examination after receipt of a bachelor’s degree or after completing 120 hours of education. The bill further details the work experience requirement, including how the board is to evaluate work experience. The bill also makes changes to the board’s rules, including changes to account for the statutory changes in the bill, repealing the requirement to complete semester hours in accounting information systems, and changing the continuing education requirements for a renewal five years or more after the renewal date. Finally, the bill changes the exemption under which a person who has a CPA license or certificate from another state may practice in this state without a license, requiring that the person have met requirements similar to those in this state, instead of requiring third-party verification of qualifications.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SB732,1
1
Section
1
.
442.025 (4) (a) 2. of the statutes is amended to read:
SB732,3,5
2
442.025
(4)
(a) 2. The person holds a valid certified public accountant
3
certificate or license from another state
that the National Association of State
4
Boards of Accountancy National Qualification Appraisal Service has verified to be
5
in substantial equivalence with the certified public accountant licensure
6
requirements of the American Institute of Certified Public Accountants/ National
7
Association of State Boards of Accountancy Uniform Accountancy Act, or the person
8
obtains verification from the National Association of State Boards of Accountancy
9
National Qualification Appraisal Service that his or her individual qualifications
10
are substantially equivalent to the certified public accountant licensure
11
requirements of the American Institute of Certified Public Accountants/ National
12
Association of State Boards of Accountancy Uniform Accountancy Act
and has met
13
requirements similar to those under s. 442.04 (5) (b). A person whose principal
1
place of business or residence is not in this state and who holds a valid certified
2
public accountant certificate or license from another state, as of the day before the
3
effective date of this subdivision .... [LRB inserts date], and as of that date, had
4
practice privileges in this state under s. 442.025 (4), 2023 stats., shall continue to
5
have all the privileges of licensees in this state without the need to obtain a license
.
SB732,2
6
Section
2
.
442.03 of the statutes is amended to read:
SB732,3,12
7
442.03
Licenses required.
No person may lawfully practice in this state as
8
a certified public accountant either in the person’s own name, or under an assumed
9
name, or as a member of a firm, unless the person has been granted by the
10
examining board a certificate as a certified public accountant, and unless the
11
person
and
or
firm
have
has
complied with all of the provisions of this chapter,
12
including licensure.
SB732,3
13
Section
3
.
442.04 (5) (a) of the statutes is renumbered 442.001 (4m) and
14
amended to read:
SB732,3,17
15
442.001
(4m)
In this subsection, “institution”
“Institution”
means an
16
institution of higher education accredited by an accrediting agency that is
17
recognized by the secretary of the federal department of education.
SB732,4
18
Section
4
.
442.04 (5) (b) 3. of the statutes is repealed and recreated to read:
SB732,3,20
19
442.04
(5)
(b) 3. The person has, except as provided in sub. (6), satisfied one of
20
the following:
SB732,3,24
21
a. Received a master’s degree from an institution, for which the person
22
completed course work in accounting and business subjects, as determined by the
23
examining board, and completed not less than one year of work experience or its
24
equivalent that satisfies sub. (5m).
SB732,4,4
1
b. Received a bachelor’s degree from an institution, completed at least 150
2
semester hours of education that included course work in accounting and business
3
subjects, as determined by the examining board, and completed not less than one
4
year of work experience or its equivalent that satisfies sub. (5m).
SB732,4,8
5
c. Received a bachelor’s degree from an institution, for which the person
6
completed course work in accounting and business subjects, as determined by the
7
examining board, and completed not less than 2 years of work experience or its
8
equivalent that satisfies sub. (5m).
SB732,5
9
Section
5
.
442.04 (5) (b) 4. of the statutes is amended to read:
SB732,4,16
10
442.04
(5)
(b) 4. Except as provided in s. 442.05, the person has successfully
11
passed an examination in such subjects affecting accountancy and business as the
12
examining board considers necessary. A person is not eligible to take the
13
examination under this subdivision unless the person has completed at least 120
14
semester hours of education
at
or received a bachelor’s degree from
an institution
15
that include
. In either case, the person must also have completed
course work in
16
accounting and business subjects, as determined by the examining board.
SB732,6
17
Section
6
.
442.04 (5) (b) 5. of the statutes is repealed.
SB732,7
18
Section
7
.
442.04 (5m) of the statutes is created to read:
SB732,5,2
19
442.04
(5m)
(a) The work experience or equivalent of that experience that is
20
required under sub. (5) (b) 3. a., b., or c. must include providing one or more types of
21
service or advice representing the skills needed at the time of initial licensure to
22
serve the public and must involve the use of accounting, attest, compilation,
23
management advisory, financial advisory, tax or consulting skills, all of which must
1
be verified. The work experience described in this paragraph may be obtained
2
through employment in government, industry, academia, or public practice.
SB732,5,4
3
(b) The examining board shall judge the sufficiency of the work experience
4
required under sub. (5) (b) 3. a., b., or c.
SB732,8
5
Section
8
.
442.04 (6) (b) of the statutes is amended to read:
SB732,5,7
6
442.04
(6)
(b) Apply training and service described in par. (a) to satisfy a
7
portion of the
150 semester
education
hours required under sub. (5) (b) 3.
b.
SB732,9
8
Section
9
.
Accy 2.002 (2) of the administrative code is amended to read:
SB732,5,11
9
Accy 2.002 (2) “Bachelor’s degree” means a baccalaureate degree
normally
10
conferred by
universities and colleges at the completion of at least a 4-year, full-
11
time, academic-year program of study
a university or college
.
SB732,10
12
Section
10
.
Accy 2.101 (3) of the administrative code is amended to read:
SB732,5,15
13
Accy 2.101 (3) Evidence of
at least one year of public accounting
meeting the
14
work
experience
as required by
requirement under
s. Accy 2.403 and s. 442.04 (5)
15
(b)
5.
3. a., b., or c.
, Stats.,
whichever is applicable with respect to the candidate.
SB732,11
16
Section
11
.
Accy 2.202 (intro.) of the administrative code is amended to read:
SB732,5,21
17
Accy 2.202 (intro.) A candidate applying for a certificate to practice as a
18
certified public accountant must have earned a bachelor’s or higher degree from an
19
accredited educational institution and have satisfied one of the following for
20
purposes of meeting the
150-hour
coursework requirement under s. 442.04 (5) (b) 3.,
21
Stats.:
SB732,12
22
Section
12
.
Accy 2.202 (2) (e) of the administrative code is repealed.
SB732,13
23
Section
13
.
Accy 2.202 (3) (a) 5. of the administrative code is repealed.
SB732,14
24
Section
14
.
Accy 2.202 (3) (b) 5. of the administrative code is repealed.
SB732,15
1
Section
15
.
Accy 2.303 (intro.) of the administrative code is amended to read:
SB732,6,5
2
Accy 2.303 (intro.)
Education required for examination.
A candidate for
3
the certified public accountant examination must have satisfied one of the following
4
for purposes of meeting the
120-hour
coursework requirement under s. 442.04 (5)
5
(b) 4., Stats.:
SB732,16
6
Section
16
.
Accy 2.304 (3) of the administrative code is amended to read:
SB732,6,9
7
Accy 2.304 (3) A candidate must pass all sections of the uniform certified
8
public accountant examination within a rolling 30-month period that begins on the
9
date
of notification
the candidate is notified
that the first section is passed.
SB732,17
10
Section
17
.
Accy 2.401 (1) of the administrative code is amended to read:
SB732,6,21
11
Accy 2.401 (1) Following the successful passing of each section of the uniform
12
CPA examination and upon written request by a candidate, a candidate’s
13
experience shall be reviewed by the board. The written request shall include
14
employer verification statements and information on experience to update the
15
experience data already in the candidate’s file. Such evaluation will determine
16
whether the candidate qualifies at that time under the requirement of having
at
17
least one year of public accounting
the requisite work
experience or its equivalent
18
under s. Accy 2.403
, the sufficiency of the experience or the equivalency to be
19
judged by the board. The board shall inform the candidate if additional experience
20
is needed. Upon gaining the required additional experience, the candidate shall
21
notify the board and provide verification.
SB732,18
22
Section
18
.
Accy 2.402 (1) and (2) (a) to (c) of the administrative code are
23
amended to read:
SB732,7,3
24
Accy 2.402 (1) The board shall evaluate
public accounting
work
experience
1
and equivalent experience at each regularly scheduled board meeting
, in accordance
2
with s. 442.04 (5m), Stats
. Evaluations may be made at special meetings, but
3
normally will not be scheduled at such meetings.
SB732,7,6
4
(2) (a) Experience in accounting in industry and government may be
5
considered equivalent
to public accounting
when it requires high levels of
6
knowledge, competence and judgment.
SB732,7,10
7
(b) Experience in teaching accounting may be considered equivalent
to public
8
accounting
when it is at an advanced and specialized level of accounting. Courses
9
taught in areas other than accounting do not qualify as
public
accounting
10
experience.
SB732,7,13
11
(c) Experience in law may be considered equivalent
to public accounting
when
12
it is at a level with responsibility for independent accounting decisions and requires
13
high levels of accounting knowledge, competence and judgment.
SB732,19
14
Section
19
.
Accy 2.403 of the administrative code is renumbered Accy 2.402
15
(3) and amended to read:
SB732,7,19
16
Accy 2.402 (3)
An individual
A candidate
must have
at least one year of public
17
accounting
the minimum work
experience or its equivalent
, as required under s.
18
442.04 (5) (b) 3. a., b., or c., Stats., whichever is applicable with respect to the
19
individual,
as determined by the board.
SB732,7,22
20
(4)
Experience shall be acquired after the applicant has satisfied one of the
21
requirements under s. Accy 2.303. This experience must have been acquired within
22
5 years prior to applying for the certification as a certified public accountant.
SB732,20
23
Section
20
.
Accy 2.501 (2) (a) of the administrative code is amended to read:
SB732,8,4
24
Accy 2.501 (2) (a) An application for renewal on a form prescribed by the
1
department that includes the applicant’s representation under penalties of perjury
2
that, during the
one-year
3-year
period immediately preceding the date of
3
application, the applicant has completed at least 120 continuing professional
4
development credits meeting the requirements under s. Accy 2.602.
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