STATEHOUSE (Feb. 14, 2017) — The Indiana House of Representatives passed State Rep. Martin Carbaugh’s (R-Fort Wayne) bill that would establish more accessible ways to achieve an accountant certificate renewal.
According to the Indiana Certified Public Accountant Society, CPAs in Indiana are currently required to complete 120 hours of continuing professional education every three years.
This is an enabling piece of legislation allowing flexibility and a new style of learning. The Indiana Board of Accountancy would provide the option of competency-based learning, which allows learners to work on one skill at a time and once they have mastered it, they are able to move onto the next skill. This is helpful for the renewal course because CPAs already have an understanding of this information and they can continue to build on this knowledge.
“It is important that CPAs are receiving an option to complete competency-based education versus hourly based education because with increasing technologies and higher quality professionals, our accountants need to be gaining knowledge, not just logging time,” Carbaugh said. “This will not only be beneficial to them, but also to their employers and clients. For teaching and renewal of licensing, we need to be using the most effective method of learning.”
This bill would also remove the authority of the Indiana Board of Accountancy to use an additional fee collected from accountants for the purpose of administering accountancy laws. According to Carbaugh, current law allows the fee to be used for both the administration and enforcement of accountancy laws.
“This legislation has the ability to require less time and improve the quality of learning because these professionals would be getting lessons out of the renewal process, which is important to their career,” Carbaugh said. “House Bill 1467 has the potential to carry over into other licensed professions in Indiana if it proves to be effective.”
Carbaugh’s bill will now head to the Senate for further consideration.
State Rep. Martin Carbaugh (R-Fort Wayne) serves as Chairman of the Insurance Committee. He also serves on the Employment, Labor and Pensions Committee and the Veterans Affairs and Public Safety Committee. Carbaugh represents House District 81, which includes portions of Allen County.
A high-resolution photo of Carbaugh can be downloaded by clicking here.