{"id":1020,"date":"2025-02-17T19:19:01","date_gmt":"2025-02-17T19:19:01","guid":{"rendered":"https:\/\/sites.sandiego.edu\/cpil-blog\/?p=1020"},"modified":"2025-02-17T19:19:01","modified_gmt":"2025-02-17T19:19:01","slug":"california-board-of-accountancy-releases-fiscal-year-23-24-annual-report","status":"publish","type":"post","link":"https:\/\/sites.sandiego.edu\/cpil-blog\/2025\/02\/17\/california-board-of-accountancy-releases-fiscal-year-23-24-annual-report\/","title":{"rendered":"California Board of Accountancy Releases Fiscal Year 23\u201324 Annual Report"},"content":{"rendered":"<h3>By Lam, Shun Fung<\/h3>\n<p>In 2024, the California Board of Accountancy (CBA) published its <a href=\"https:\/\/perma.cc\/4SC9-UJLG\">Fiscal Year 2023\u20132024 Annual Report<\/a>. The report includes messages from the executive officer and updates on CBA\u2019s budget and expenditures. CBA\u2019s current outreach and communication efforts, licensing activities, legislation and regulations and information technologies. CBA\u2019s annual report highlights many of CBA\u2019s achievements in the fiscal year and outlines many of the agency\u2019s goals and policies moving forward.<\/p>\n<p>SURE CPA project aims to consider potential changes to the licensure and mobility models of the CPA and the program has seen positive reception from local jurisdictions. CBA has authorized staff to move forward with suggested initiatives as part of SURE CPA\u2019s Phase 2, following the information-gathering stage in Phase 1. The survey data collected in Phase 1 suggests that Accounting Firms and students alike support modifying educational requirements. CBA\u2019s current consensus is that it \u201c[is] indeed time to pursue educational and experiential requirement changes for licensure.\u201d<\/p>\n<p>The budget overview of 2024 shows the CBA\u2019s reserve levels at $20,813,000, reflecting receipt of the $10,000,000 General Fund loan repayment with interest. CBA has implemented the first step of its fee increase on July 1, 2024, and the second step will be implemented on July 1, 2026.<\/p>\n<p>As for enforcement activities, CBA reports a 26% increase in the number of cases closed compared to the prior fiscal year. Staff closed nearly 82% of investigations within the first 180 days and 96% within one year. The overall inventory of pending cases at the end of 2024 was 1571, a 7% decrease from fiscal year 2022\u20132023.<\/p>\n<p>CBA\u2019s enforcement program received 5,840 complaints in the new fiscal year, a 27% increase from the 4,584 complaints the previous year. The average days to close a complaint have improved to 106 days, down from 123 in the fiscal year 2022\u20132023. Disciplinary actions remain steady at 36 matters, with 19 actions reaching stipulated settlements. CBA reported 3,194 unlicensed activities closed for compliance, a 34% increase from 2023. In its November 22, 2024, board <a href=\"https:\/\/perma.cc\/EF7J-HZZK\">meeting<\/a>, board member Nancy Duong asked if the fines are lower than they need to be and remarked that the data does show the average fine amount has declined. Chief of Enforcement Carrie O\u2019Connor expects the average fine amount to increase as the fiscal year continues.<\/p>\n<p>Looking ahead, the CBA has more community outreach on its horizon, including its plan to continue building its multi-media and social media presence. CBA also aims to continue working with other state boards, agencies and regulators in its continued efforts to improve licensure and mobility; as well as investigating unlicensed activities to ensure consumers are receiving services from appropriately licensed professionals.<\/p>\n<a class=\"synved-social-button synved-social-button-follow synved-social-size-32 synved-social-resolution-single synved-social-provider-facebook nolightbox\" data-provider=\"facebook\" target=\"_blank\" rel=\"nofollow\" title=\"Follow us on Facebook\" href=\"https:\/\/www.facebook.com\/CPILUSD\" style=\"font-size: 0px;width:32px;height:32px;margin:0;margin-bottom:5px;margin-right:5px\"><img loading=\"lazy\" decoding=\"async\" alt=\"Facebook\" title=\"Follow us on Facebook\" class=\"synved-share-image synved-social-image synved-social-image-follow\" width=\"32\" height=\"32\" style=\"display: inline;width:32px;height:32px;margin: 0;padding: 0;border: none;box-shadow: none\" src=\"https:\/\/sites.sandiego.edu\/cpil-blog\/wp-content\/plugins\/social-media-feather\/synved-social\/addons\/extra-icons\/image\/social\/circle\/64x64\/facebook.png\" \/><\/a><a class=\"synved-social-button synved-social-button-follow synved-social-size-32 synved-social-resolution-single synved-social-provider-twitter nolightbox\" data-provider=\"twitter\" target=\"_blank\" rel=\"nofollow\" title=\"Follow us on Twitter\" href=\"https:\/\/twitter.com\/cpilusd\" style=\"font-size: 0px;width:32px;height:32px;margin:0;margin-bottom:5px\"><img loading=\"lazy\" decoding=\"async\" alt=\"twitter\" title=\"Follow us on Twitter\" class=\"synved-share-image synved-social-image synved-social-image-follow\" width=\"32\" height=\"32\" style=\"display: inline;width:32px;height:32px;margin: 0;padding: 0;border: none;box-shadow: none\" src=\"https:\/\/sites.sandiego.edu\/cpil-blog\/wp-content\/plugins\/social-media-feather\/synved-social\/addons\/extra-icons\/image\/social\/circle\/64x64\/twitter.png\" \/><\/a>","protected":false},"excerpt":{"rendered":"<p>By Lam, Shun Fung In 2024, the California Board of Accountancy (CBA) published its Fiscal Year 2023\u20132024 Annual Report. The report includes messages from the executive officer and updates on CBA\u2019s budget and expenditures. CBA\u2019s current outreach and communication efforts, <a class=\"more-link\" href=\"https:\/\/sites.sandiego.edu\/cpil-blog\/2025\/02\/17\/california-board-of-accountancy-releases-fiscal-year-23-24-annual-report\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1013,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[133035,138325],"tags":[31927,133037,137804,133036,7756,132921,133032,101455,138326],"coauthors":[138175],"class_list":["post-1020","post","type-post","status-publish","format-standard","hentry","category-major-projects-board-of-accountancy","category-major-publications-board-of-accountancy","tag-accountancy","tag-accountants","tag-annual-report","tag-cba","tag-cpa","tag-discipline","tag-enforcement","tag-licensure","tag-sure-cpa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>California Board of Accountancy Releases Fiscal Year 23\u201324 Annual Report - Consumer Protection Policy Center - Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sites.sandiego.edu\/cpil-blog\/2025\/02\/17\/california-board-of-accountancy-releases-fiscal-year-23-24-annual-report\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"California Board of Accountancy Releases Fiscal Year 23\u201324 Annual Report - Consumer Protection Policy Center - Blog\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"By Lam, Shun Fung In 2024, the California Board of Accountancy (CBA) published its Fiscal Year 2023\u20132024 Annual Report. 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