The Tennessee General Assembly passed legislation backed by the Tennessee Society of CPAs adding an extra pathway to a CPA license, as more states make efforts to alleviate the shortage of new accountants.

SB 1316/HB 1330, introduced by Senate Majority Leader Jack Johnson and House Majority Leader William Lamberth on behalf of the administration, was filed for introduction on Feb. 6. The legislation aligns with Tennessee Governor Bill Lee’s goal to streamline state boards and simplify licensing. Members of the Tennessee Society of CPAs lobbied for licensing changes in February.

The legislation offers two pathways to licensure for prospective CPAs starting Jan. 1, 2026. Applicants can either:

• Ccomplete the traditional path of at least 150 semester hours of college education including a bachelor’s degree plus one year of accounting experience; or,
• Complete at least 120 semester hours of college education including a bachelor’s degree plus two years of accounting experience.

For both options, the coursework needs to include an accounting concentration as determined by Tennessee State Board of Accountancy rule.
In addition, the legislation includes CPA practice mobility provisions so CPAs can still practice across state lines. Current and future CPAs who don’t have a principal place of business in Tennessee will be able to practice in the state if they hold a valid CPA license in good standing from another state and if, at the time of licensure, they showed evidence of having passed the Uniform CPA Exam. They need to consent to the jurisdiction and disciplinary authority of the TSBOA, comply with the applicable statute and board rules of the state, and cease offering services in Tennessee if their license in the state of issuance is deemed to be no longer valid. These changes will take effect July 1, 2025.

(Read more: See what other states are doing to expand paths to becoming a CPA.)

“This legislation is a key step in ensuring that the demand for skilled accounting professionals, specifically licensed CPAs, can be met now and in the future,” said TSCPA president and CEO Kara Fitzgerald in a statement Monday. “Tennessee was a leader in advocating for the 150-hour rule in the 1990s, and as the needs of the profession change, Tennessee will continue to lead in evolving our licensure model to make sure we meet those needs.”

The bill will now be sent to Gov. Lee and, once he signs it, will become effective on the dates stated above.

Other states besides Tennessee have been expanding beyond the traditional 150-hour requirement for CPA licensure with alternative pathways. Earlier this month, Iowa added another pathway to CPA licensure and Georgia passed a CPA licensure bill.

Baker Tilly and Moss Adams have made their merger official, combining to form what promises to be the sixth largest CPA firm in the U.S.

Rumors of the impending merger began to leak out earlier this month. The two firms plan to combine under the Baker Tilly name. Moss Adams already has a large presence in the West and Central regions, while Baker Tilly dominates in the East and Midwest, and their merger will give them a larger national footprint.  

Baker Tilly, based in Chicago, ranked No. 11 on Accounting Today‘s 2025 list of the Top 100 Firms with $1.8 billion in annual revenue, over 600 partners and nearly 6,900 employees. Moss Adams, based in Seattle, ranked right below it at No. 12 with $1.3 billion in annual revenue, over 400 partners and more than 4,800 employees.

Baker Tilly CEO Jeff Ferro will be CEO of the combined firm through his retirement, while Eric Miles, who is currently Moss Adams’ chairman and CEO, has been named CEO-elect. Miles will assume the role of CEO on January 1, 2026, with Ferro remaining a director on Baker Tilly’s board thereafter. 

“Moss Adams is a great strategic fit with Baker Tilly,” Ferro said in a statement Monday. “We’ve long respected the firm, its people and its industry-focused approach. By bringing together our strengths, we are expanding our ability to serve middle-market businesses with greater expertise, resources and insights.” 

“The resources, geographic reach and go-to-market strength of the combined firm magnifies opportunities for our people to grow, collaborate and innovate,” Miles stated. “We are proud to offer our clients these expanded resources to deliver even greater value and set a new standard for advisory services in the middle market.” 

As part of the deal, private equity firm Hellman & Friedman, an existing investor in Baker Tilly, will make an additional strategic investment in the business, with existing shareholder Valeas Capital Partners also increasing its investment. 

The deal is expected to close in early June of this year. Once the deal closes, Moss Adams and Baker Tilly’s audit business will combine as Baker Tilly US, LLP and the firms’ business advisory, tax and other services will combine under Baker Tilly Advisory Group, LP. Both entities will remain partnerships, with all principals holding equity alongside H&F and Valeas in BTAG. 

“Since we invested in Baker Tilly, we have been focused on building a differentiated firm with the ambition to change the game in the middle-market accounting industry,” said H&F partner Blake Kleinman in a statement. “This landmark merger between Baker Tilly and Moss Adams is an important step in creating a firm that will be the destination of choice for the industry’s best talent and for firms considering their strategic options in a rapidly evolving sector.” 

Former AICPA president and CEO Barry Melancon recently joined as a strategic advisor to Baker Tilly and independent chair-elect of the Baker Tilly International board of directors: “The CPA and advisory profession requires firms to operate effectively at the local, national and global levels,” he said in a statement. “This combination brings together two firms at the forefront of the profession, further empowering them to deliver on their commitment to serving their clients as the needs of middle-market businesses evolve.” 

Simpson Thacher & Bartlett LLP and Vedder Price PC served as legal advisors to Baker Tilly. Deutsche Bank Securities Inc. served as financial advisor and Dechert LLP as legal advisor to Moss Adams. 

Baker Tilly is part  of the Baker Tilly International network, based in London, which reported $5.6 billion in worldwide revenue in 2024. Baker Tilly has done several acquisitions since receiving private equity funding in February 2024 led by Hellman & Friedman and Valeas Capital Partners, accelerating the firm’s growth strategy. Earlier this year, it acquired CironeFriedberg, a firm based in Bethel, Connecticut, and Hancock Askew, a Regional Leader based in Savannah, Georgia.

Last May, it merged in Seiler LLP, a Top 75 Firm based in Redwood City, California. Prior to the private equity funding, in 2022, Baker Tilly merged in Henry + Horne in Tempe, Arizona, True Partners Consulting in Chicago; Management Partners in Cincinnati and San Jose; Bader Martin in Seattle; Orchestra Healthcare in West Palm Beach, Florida; and Vanilla, based in the United Kingdom. In 2021, it added MFA Companies in Boston; The Compliance Group in Carlsbad, California; Arnett Carbis Toothman in West Virginia; AcctTwo in Houston; and Margolin, Winer & Evens in New York.

Moss Adams does not do M&A deals as often, but last December, it entered the Salesforce.com consulting market by acquiring Yurgosky Consulted Limited LLC in New York.

International accounting and consulting firm KNAV Advisory added U.K.-based firm Aventus Partners, effective April 4.

The deal strengthens KNAV’s operations in the U.K. and continues its international expansion strategy. Last year, it integrated Natarajan & Swaminathan in Singapore and HLG Netherlands.

“This is a major milestone for KNAV’s UK operations,” KNAV CEO Nishta Sharma said in a statement. “It reinforces our commitment to a unified, integrated model that delivers exceptional value to global clients.”

KNAV reported $21.5 million in revenue in 2024 and has three offices, 12 partners and 202 employees. It was one of the fastest-growing firms with a growth rate of 25.6% on Accounting Today‘s Top 100 Firms and Regional Leaders list.

Aventus, with $5.3 million in revenue, provides audit and assurance, tax advisory, financial reporting and outsourced finance team services. The deal adds four partners and 27 employees to KNAV.

Both firms are members of Allinial Global, a global association of independent accounting and consulting firms.