Thanks TA for the eduaction on this. It sounds a little similar to the CPA profession wherein licensure requirements can vary by state. Renewal periods often differ (E.g., in one of the states where I'm licensed, the renewal period is two years where another is three years). CPE requirements also sometimes differ. In the state where I was first licensed, things are very strict in terms of qualified CPE hours, the number of ethics hours required per renewal period, the limited number of carry-over hours, and NASBA qualified-provider requirements. In another state, the requirements are more lax, even including the information that must be provided in regards to CPE records, and ethics CPE is only required every other renewal cycle. In yet another state, a person only has to complete half of the number of ethics CPE as many states.
Geeze Louise, I wish things were more uniform.Initial licensing requirements also can vary by state. In a few states, post-CPA exam experiene is limited. I.e., in those states a person could hang out his or her hat as a CPA without fulfilling practical experience requirements (dangerous in my opinion). When I was in public practice, I was part of a national team that worked on uniformity. Some strides have been achieved, but factors are still variant. Since going into prviate industry about ten years ago, I have discontinued participation in the uniformity efforts due to time constraints. I guess what I should be thankful for, however, is that I earned my initial license in the strictest state, so reciprocity licensing in other jurisdictions has been nearly seemless (other then the mounds of paperwork and recommendations). And gosh darn it, it would be so nice to have renewal periods/fees/CPE, etc. be uniform. There is a lot to keep track of and lots of licensing fees to pay to the State Boards.
CO is a little interesting in that DORA has handed many things over to the NASBA. I was also a little disappointed that the CO requirements are not as strict as many states for this profession. Why am I disappointed (but dont' dwell on it much)? It's because I believe it's in the public's best interest to know what they are getting when they engage a CPA. That mostly relates to individuals or small businesses (but thank goodness, most states require peer reviews depending on the types of services a firm provides). Of course for SEC reporting companies, there are strict PCAOB requirements.
Oh well, it is what is is. I just wish that uniformity would come to fruition with the strictest of standards across the baord. Of course, state tax and muni tax rules vary greatly; but US GAAP is US GAAP across the board; IFRS is IFRS (at least within the US - the IASB has not yet created complete uniformity across countries); PCAOB regs are PCAOB regs. Although I think about all of this from time to time, it is not my battle to fight.
Sorry for the diatribe. :)