Regulation of accountancy. Provides that a firm permit is required for an accounting practitioner working for a client. Provides that a member of the Indiana board of accountancy may not serve more than three complete consecutive terms. (Current law allows for only two consecutive terms.) Provides that penalties are deposited into the accountant investigative fund, and increases from $750,000 to $1,000,000 the amount of money that must be in the fund before it reverts to the state general fund. Removes the word "knowingly" from the requirements for civil penalties for violating the licensing law. Allows retired status for certified public accountants, and specifies ... use of "retired" in the title or designation of certified public accountant or the abbreviation CPA.