Sunset review of public accountancy laws: The Colorado experience

Sunset reviews are periodic examinations by state legislatures to assess the necessity, effectiveness, and efficiency of various state functions, including regulatory boards and commissions. The public accountancy law in Colorado underwent a sunset review during the 2000 legislative session. The contentious issues addressed in Colorado's sunset review were substantial equivalency, including the 150-hour requirement, and accountant/client privilege. Colorado's decision not to seek substantial equivalency was driven by the 150-hour requirement. This was, by far, the most hotly debated issue during the sunset review. The Colorado experience makes clear that a sunset review can significantly alter the laws that regulate the practice of public accountancy within a state.