FOR IMMEDIATE RELEASE 03/04/2013
Stephenson files two bills on behalf of small CPA firms and small businesses
State Representative Phil Stephenson (south Ft. Bend, Wharton and Jackson Counties) recently filed HB1756 and HB1757, two amendments to the Occupations Code relating to the practice of public accountancy in the State of Texas. As the CPA-owner of a locally owned CPA practice, Phil Stephenson has become convinced that Texas over-regulates the practice of public accountancy in this state; especially as it applies to smaller, hometown CPAs. These two amendments benefit solo- and small-practitioner CPAs who provide services to micro- and small-businesses in Texas.
HB 1756 is a bill that seeks to lessen the burden placed upon small CPA firms, applied by the Texas State Board of Public Accountancy, regarding peer review and the preparation of certain documents.
HB 1757 addresses the disparity of representation regarding sole practitioners on the Texas State Board of Public Accountancy. The bill would require that the board sit at least two sole practitioners.
In a written statement to his colleagues in the Texas House of Representatives, Stephenson wrote,
"I believe these amendments will lessen the regulation of Texas CPAs without harming the public’s interest. The vast majority of micro- and small businesses in this state are locally owned and operated. These businesses deserve access to the services of a local, hometown CPA without having to navigate rules intended for national or large regional businesses. Likewise, for those CPAs who are required to be peer reviewed, they should be able to obtain those services at the same lower price as other CPAs pay for the same services. Finally, to ensure local CPAs are represented on the Board of Accountancy, I am asking for your support to require that the Board be comprised of at least two such members."