Rule-Making Notices
Notice of Hearing
Accounting Examining Board
NOTICE IS HEREBY GIVEN that pursuant to authority vested in the Accounting Examining Board in ss.
15.08 (5) (b),
227.11 (2) and
442.01, Stats, the Accounting Examining Board will hold a public hearing at the time and place indicated below to consider an order to renumber and amend section
Accy 8.04 (intro.),
(1),
(2) and
(3); and to create sections
Accy 7.05 (1) (c) and
8.05, relating to granting certificates to applicants pursuant to an international mutual recognition agreement.
Hearing Information
Date: December 10, 2009
Time: 9:30 a.m.
Location: 1400 East Washington Avenue
Room 121A
Madison, Wisconsin
Appearances at the Hearing and Submission of Written Comments
Interested persons are invited to present information at the hearing. Persons appearing may make an oral presentation but are urged to submit facts, opinions and argument in writing as well. Facts, opinions and argument may also be submitted in writing without a personal appearance by mail addressed to Pamela Haack, Paralegal, Department of Regulation and Licensing, 1400 East Washington Avenue, Room 152, P.O. Box 8935, Madison, Wisconsin 53708-8935, or by email to
pamela.haack@wisconsin.gov. Written comments must be received by December 18, 2009, to be included in the record of rule-making proceedings.
Copies of Proposed Rule
Copies of this proposed rule are available upon request to Pamela Haack, Paralegal, Department of Regulation and Licensing, Division of Board Services, 1400 East Washington Avenue, P.O. Box 8935, Madison, Wisconsin 53708, or by email at
pamela.haack@wisconsin.gov.
Analysis Prepared by the Department of Regulation and Licensing
Statutes interpreted
Statutory authority
Explanation of agency authority
The Accounting Examining Board is granted the authority to promulgate rules to grant certificates to applicants who are certified to practice under the laws of a foreign country.
Related statute or rule
There are no other statutes or rules other than those listed above.
Plain language analysis
This proposed rule-making order would enable the board to grant certified public accountant certificates and licenses to applicants who are certified to practice by a foreign credentialing authority that is a signatory to the International Mutual Recognition Agreement (MRA) that has been entered into by the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA).
SECTION 1 creates a provision that enables the board to grant a certificate to an applicant who meets the requirements under newly created s.
Accy 8.05. Current rules allow candidates holding certifications from foreign countries to be granted a certificate by the Accounting Examining Board if they meet specified criteria.
SECTION 2 renumbers and amends existing provisions to make clear that certification through the MRA is an additional and separate route to certification for foreign candidates.
SECTION 3 creates a route to licensure for accountants who hold a credential from a foreign credentialing authority that is a signatory to the MRA. A foreign credentialing authority may not be a signatory to the MRA until the International Qualifications Appraisal Board (IQAB) has found that the requirements to obtain the foreign credential are substantially equivalent to the requirements used in the United States. The IQAB is jointly created by the NASBA and the AICPA. The MRA is currently being used by other states and a number of foreign credentialing authorities.
An applicant who has a credential from an authority that is a current signatory to the MRA must still meet other qualifications to receive a credential from this state. The applicant's credential must be in good standing and the applicant must pass the state professional ethics examination. The state examination covers state laws and professional standards of conduct. The applicant must have successfully completed the International Qualification Examination (IQEX). The IQEX is an examination prepared by the AICPA to test the applicant's knowledge of the differences between the accounting standards used in the United States and the accounting standards used in other countries. The IQEX covers ethics, professional and legal responsibilities, business law, uniform commercial code, federal taxation and accounting issues, business structure, accounting and reporting for governmental and not-for-profit organizations, and recent regulatory issues.
Comparison with federal regulations
This is not an area which is regulated by federal law or subject to any proposed federal legislation. The standards for state licensure are regulated by each state.
Comparison with rules in adjacent states
Illinois:
Educational standards for foreign applicants must be substantially equivalent to those in effect in the state and the applicant must have a license in the foreign country.
www.idfpr.com
Iowa:
Michigan:
Educational qualifications must be earned at an institution accredited by the North Central Association of Colleges and Schools or other equivalent education.
www.michigan.gov/dleg
Minnesota:
Educational qualifications must be earned at an institution accredited by an accrediting agency listed with the United States Department of Education or approved by the board.
www.boa.state.mn.us
Summary of factual data and analytical methodologies
As outlined above, current rules allow candidates holding certifications from foreign countries to be granted a certificate by the Accounting Examining Board if they meet specified criteria. Rule changes to ch.
Accy 7 relating to certified public accountant education requirements and ch.
Accy 8 relating to endorsement qualifications, will serve to clarify an additional and separate route to certification for foreign candidates.
Analysis and supporting documents used to determine effect on small business
This rule change will not affect or impact adversely small businesses.
Section
227.137, Stats., requires an “agency" to prepare an economic impact report before submitting the proposed rule-making order to the Wisconsin Legislative Council. The Department of Regulation and Licensing is not included as an “agency" in this section.
Anticipated costs incurred by the private sector
The department finds that this rule has no significant fiscal effect on the private sector.
Small Business Impact
These proposed rules were reviewed and discussed by the department's Small Business Review Advisory Committee which determined that the rules will have no significant economic impact on a substantial number of small businesses, as defined in s.
227.114 (1), Stats. The Department's Regulatory Review Coordinator may be contacted by email at
hector.colon@wisconsin.gov, or by calling 608-266-8608.
Fiscal Estimate
The department estimates that this rule will require staff time in the Division of Professional Credentialing and the Division of Management Services. The total one-time salary and fringe costs are estimated at $2,865.
Agency Contact Person
Pamela Haack, Paralegal, Department of Regulation and Licensing, 1400 East Washington Avenue, Room 152, P.O. Box 8935, Madison, Wisconsin 53708; telephone 608-266-0495; email at
pamela.haack@wisconsin.gov.
Notice of Hearing
Insurance
NOTICE IS HEREBY GIVEN that pursuant to the authority granted under s.
601.41 (3), Stats., and the procedures set forth under s.
227.18, Stats., the Office of the Commissioner of Insurance (OCI) will hold a public hearing to consider emergency rules and the adoption of proposed permanent rules revising section
Ins 6.77, Wis. Adm. Code, relating to exempting commercial general liability policies from offering uninsured and underinsured motorist coverage.
Hearing Information
Date: December 8, 2009
Time: 10:00 a.m., or as soon thereafter as the
matter may be reached
Place: OCI, Room 227
125 South Webster Street, 2nd Floor
Madison, WI
Submission of Written Comments
Written comments can be mailed to:
Robert Luck
