OregonSB 7972025 Regular SessionSenateWALLET

Relating to public accountancy.

Sponsored By: Sponsor information unavailable

Signed by Governor

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

13 provisions identified: 6 benefits, 3 costs, 4 mixed.

Clients get accountant fee conflict protections

Accountants and registered firms face commission limits when they provide attestation services or compilations without disclosing a lack of independence. Contingent fees—fees tied to results—are barred for those clients. Accountants also cannot charge contingent fees for preparing original or amended tax returns or tax-refund claims. Referral compensation requires clear, timely disclosure and a client acknowledgment signed and dated in writing. Fee restrictions cover the engagement and its historical reporting periods; limited exceptions include sale or retirement payments.

Existing accountants keep their valid credentials

The law replaces prior CPA licensing provisions with the new framework beginning on its effective date. Previously issued CPA certificates remain valid. Existing permits, certificates, and licenses cannot be canceled solely because of these changes or earlier activity. Revocation remains allowed for reasons that already supported revocation before the law took effect.

Oregon recognizes outside accountants' credentials

Oregon offers licensing paths for accountants with out-of-state or foreign credentials in good standing. Out-of-state CPAs need substantially equivalent licensing standards or at least four years of CPA practice within the preceding 10 years. Foreign CPAs and chartered accountants need substantially equivalent education, experience, and other initial licensing qualifications. Both groups must apply, pass Oregon's ethics exam, and pay the required fee. Licenses renew every two years.

Qualifying interstate accountants avoid Oregon licensing

An active out-of-state CPA in good standing can practice without an Oregon license when the state's licensing standards are substantially equivalent. Oregon cannot require separate notice, an annual authorization fee, or another submission. Individual equivalency requires passing the Uniform CPA Examination and meeting a listed education-and-experience path, even if the issuing state did not. Paths include 150 semester hours; a bachelor's plus one or two years of experience; or a master's plus one year. Board-prescribed requirements provide another path.

Tax accountants get help and exemptions

Oregon's tax practitioner assistance program includes advisers, return preparers, and representatives handling individual taxpayer account issues. The Revenue Department can prioritize Oregon-licensed CPAs and other practitioners for help with Oregon tax law and personal income tax accounts. Active CPAs licensed in any state, valid Oregon public accountants, firms registered in any state, and their employees receive tax-practitioner-law exemptions. Oregon-licensed CPAs and public accountants also fall outside the “facilitator” definition in refund anticipation loan laws.

Local filmmakers gain accountant hiring flexibility

Local filmmakers and media production companies seeking reimbursement can employ or contract with an Oregon-licensed CPA. They no longer need to hire an accountant specifically for payroll services. They still need at least $75,000 in actual Oregon expenses and must spend 80% of the film's payroll on Oregon residents.

Accountants face paid reviews and discipline

Covered accountants and firms providing attestation or compilation services must undergo peer review and pay its cost. Reviews use the board or an approved program; authorized interstate sole proprietors must meet firm-level review standards. The board can discipline credential fraud, incompetence, unlicensed practice, disobeying orders, and failure to meet peer-review requirements. Its tools include application denial, censure, required reviews or education, and consent agreements with prescribed conditions. Completing peer review does not prevent separate board review, discipline, or civil penalties.

Authorized agencies must use licensed auditors

DHS-authorized agencies must continue submitting annual audits of their financial records. The auditor must hold a license issued by the Oregon Board of Accountancy. This changes auditor qualifications, not the annual audit requirement.

Accounting firms face supervisor and ownership rules

Supervisors of attestation or compilation work must be licensed when they sign or authorize signing an accountant's report for an Oregon business. They must also meet board-adopted professional competency standards. Firms subject to registration must have nonlicensed owners actively participate in the firm or an affiliated entity. Alternatively, firms can use an employee stock ownership plan described by board rule.

Accountants face clearer service and title rules

Regulated professional accountancy work includes audits, tax services, consulting, financial advice, and financial reports. Covered financial-statement services and protected titles require the specified license, registration, legal authorization, or applicable service-registration exemption. The financial-statement preparation exception applies only to signers without an Oregon accountancy license or interstate practice authorization. Their statements cannot suggest they are accountants or auditors or use other prohibited wording. Actively licensed accountants doing accountancy work, and employees acting for them, remain exempt from specified private security and investigator laws.

Accountants pay biennial fees, gain status options

Oregon accountancy licenses require renewal every two years, a $255 fee, and continuing education unless waived. Late licenses lapse; restoration carries board-set fees and conditions, while licenses unrenewed for six years expire but remain restorable for just cause. The board can offer retired status with reduced renewal fees. Licensees without suspended or revoked licenses can apply for inactive status, pay board-set fees, and generally cannot practice. They must label their titles “inactive,” remain subject to accountancy rules, and, for sole practitioners, have board rules allowing inactive status.

Education and experience paths for accountants

Accountancy exam applicants must apply, show good moral character, and pay a board-set fee. CPA candidates need an accredited bachelor's degree or higher and board-required coursework. CPA licensing requires two years of experience with a bachelor's, or one year with a master's or degree plus 150 semester hours. Applicants must pass all CPA exam sections and an ethics exam, pay the application fee, and have qualified professionals verify experience. Public accountant exam admission instead requires a high school diploma or equivalent and two years of qualifying experience.

Public accountants qualify without audit authority

Public accountant applicants do not have to pass the CPA exam sections. They must meet examination-admission requirements, complete one additional year of qualifying experience, pass an ethics exam, and pay the fee. A public accountant license does not allow the holder to perform audits.

Sponsors & Cosponsors

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 125 • No: 0

Senate vote • 5/14/2025

Senate concurred in House amendments and repassed bill.

Yes: 30 • No: 0

House vote • 5/12/2025

Third reading. Carried by Chotzen. Passed.

Yes: 52 • No: 0

House vote • 4/29/2025

Commerce and Consumer Protection: Heard and Reported Out with Amendments

Yes: 8 • No: 0

Senate vote • 3/6/2025

Third reading. Carried by Pham. Passed.