Non-CPA ownership legislation in stalemate

Long Island Business News

Despite widespread agreement that people other than CPAs should be able to own a stake in accounting firms, legislation has remained in limbo amid a disagreement over the percentage of ownership that should be allowed. In 1994, Nebraska became the first state to allow non-CPA ownership, followed by North Carolina in 1995. Today, only New York, Delaware and Hawaii do not allow for non-CPA ownership.