An Act amending the act of May 26, 1947 (P.L.318, No.140), known as the CPA Law, further providing for definitions, for general powers of the board, for examination and for requirements for issuance of certificate; repealing provisions relating to practice in this Commonwealth by individuals under substantial equivalency; further providing for practice outside this Commonwealth under substantial equivalency and for practice by firms and unlicensed entities under substantial equivalency; providing for practice in this Commonwealth by individuals under automatic mobility; and further providing for licenses to practice, for licensing of firms, for grounds for discipline, for reinstatement and for unlawful acts.

Changed the exam credit expiration rule from a fixed 30-month deadline to a 'rolling' 30-month period, meaning credit for passed exam parts expires only when the applicant fails to pass the next part within 30 months of the last passing score.

Clarified continuing education requirements for licensees practicing under reciprocity, stating they must follow the rules of their principal state of business unless that state has no requirements, in which case they must follow Pennsylvania rules.

Added provisions allowing unlicensed entities to practice in Pennsylvania if their individuals meet specific education and experience criteria, including a reduced requirement of 150 semester credits for a bachelor's degree.

Modified the education requirement for unlicensed entities by adding a specific clause that credits in accounting subjects do not need to be part of the individual's undergraduate coursework.

Added new unlawful acts regarding the fraudulent sale or procurement of licenses and the unauthorized signing of audit reports by non-licensees.