AB915: Bill Text

Under current law, the accounting examining board regulates both public accountants and certified public accountants. A person may not practice as a public accountant unless he or she holds both a certificate of authority as a public accountant that is issued by the accounting examining board and a license. A person may not practice as a certified public accountant unless he or she holds a certificate as a certified public accountant that is issued by the accounting examining board and a license. The accounting examining board may issue a certificate of authority as a public accountant only to a person who applied for the certificate before December 1, 1935. This bill eliminates the certificate of authority as a public accountant.

Current law also provides that a person who applied for a certificate as a certified public accountant before July 1, 1968, must satisfy certain education and experience requirements. This bill eliminates these requirements.

For further information, see the Notes provided by the law revision committee of the joint legislative council.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

Law revision committee prefatory note: This bill is a remedial legislation proposal, requested by the department of regulation and licensing and introduced by the law revision committee under s. 13.83 (1) (c) 4., stats. After careful consideration of the various provisions of the bill, the law revision committee has determined that this bill makes minor substantive changes in the statutes, and that these changes are desirable as a matter of public policy.

AB915, s. 1 Section 1 . 15.405 (6m) (c) 1. of the statutes is repealed.

AB915, s. 2 Section 2. 15.405 (6m) (c) 2. of the statutes is renumbered 15.405 (6m) (c) and amended to read:

AB915,5,4 15.405 (6m) (c) One audiologist licensed under subch. II of ch. 459. This subdivision applies after June 30, 1993.

AB915, s. 3 Section 3. 15.405 (6m) (d) 1. of the statutes is repealed.

AB915, s. 4 Section 4 . 15.405 (6m) (d) 2. of the statutes is renumbered 15.405 (6m) (d) and amended to read:

AB915,5,9 15.405 (6m) (d) One speech-language pathologist licensed under subch. II of ch. 459. This subdivision applies after June 30, 1993.

AB915, s. 5 Section 5 . 15.405 (6m) (e) of the statutes is amended to read:

AB915,5,12 15.405 (6m) (e) Two public members. One of the public members shall be a hearing aid instrument user.

AB915, s. 6 Section 6 . 15.407 (4) (b) 1. of the statutes is repealed.

AB915, s. 7 Section 7 . 15.407 (4) (b) 2. of the statutes is amended to read:

AB915,5,16 15.407 (4) (b) 2. Two audiologists licensed under subch. II of ch. 459. This subdivision applies after June 30, 1993.

AB915, s. 8 Section 8 . 29.09 (9) (a) 1. of the statutes is amended to read:

AB915,5,20 29.09 (9) (a) 1. "Accompanied" means being subject to continuous visual or voice contact without the aid of any mechanical or electronic amplifying device other than a hearing aid instrument.

AB915, s. 9 Section 9 . 29.405 (1) (a) of the statutes is amended to read:

AB915,5,23 29.405 (1) (a) "Contact" means visual or voice contact without the aid of any mechanical or electronic amplifying device other than a hearing aid instrument.

AB915, s. 10 Section 10 . 45.353 (3) of the statutes is amended to read:

AB915,6,20 45.353 (3) Application by any such state veterans organization shall be filed annually with the department for the 12-month period commencing on April 1 and ending on March 31 of the year in which it is filed. An application shall contain a statement of salaries and travel expenses paid to employes engaged in veterans claims service maintained at the regional office by such state veterans organization covering the period for which application for a grant is made, which statement has been certified as correct by an a certified public accountant certified licensed under ch. 442 and sworn to as correct by the adjutant or principal officer of the state veterans organization. The application shall also contain the state organization's financial statement for its last completed fiscal year and such evidence of claims service activity as the department requires. Sufficient evidence shall be submitted with an initial application to establish that the state veterans organization, or its national organization, or both, has maintained a full-time service office at the regional office without interruption throughout 5 years out of the 10-year period immediately preceding such application. Subsequent applications must be accompanied by an affidavit by the adjutant or principal officer of such state veterans organization stating that a full-time service office was maintained at the regional office by such state veterans organization, or by such state organization and its national organization, for the entire 12-month period for which application for a grant is made.

AB915, s. 11 Section 11 . 49.45 (8) (a) 7. of the statutes is amended to read:

AB915,6,24 49.45 (8) (a) 7. "Speech-language pathologist" means an individual engaged in the practice of speech-language pathology, as regulated under ch. 459 has the meaning given in s. 459.20 (4).

AB915, s. 12 Section 12 . 66.044 (3) of the statutes is amended to read:

AB915,7,4 66.044 (3) The ordinance shall provide that the governing body of the city or village shall authorize an annual detailed audit of its financial transactions and accounts by a certified public accountant licensed under ch. 442 and designated by the governing body.

AB915, s. 13 Section 13 . 77.54 (22) (b) of the statutes is amended to read:

AB915,7,8 77.54 (22) (b) Artificial limbs, artificial eyes, hearing aids instruments and other equipment worn as a correction or substitute for any functioning portion of the body.

AB915, s. 14 Section 14 . 100.03 (1) (bm) of the statutes is amended to read:

AB915,7,15 100.03 (1) (bm) "Audited financial statement" means a financial statement that, in the accompanying opinion of an independent certified public accountant or a public accountant holding a certificate of authority licensed under ch. 442, fairly and in all material respects represents the financial position of the contractor, the results of the contractor's operations and the contractor's cash flows in conformity with generally accepted accounting principles.

AB915, s. 15 Section 15 . 100.03 (1) (ym) 2. of the statutes is amended to read:

AB915,7,19 100.03 (1) (ym) 2. Reviewed according to generally accepted accounting principles by an independent certified public accountant or a public accountant holding a certificate of authority licensed under ch. 442.

AB915, s. 16 Section 16 . 102.01 (2) (c) of the statutes is amended to read:

AB915,8,2 102.01 (2) (c) "Injury" means mental or physical harm to an employe caused by accident or disease, and also means damage to or destruction of artificial members, dental appliances, teeth, hearing aids instruments and eyeglasses, but, in the case of hearing aids instruments or eyeglasses, only if such damage or destruction resulted from accident which also caused personal injury entitling the employe to compensation therefor either for disability or treatment.

AB915, s. 17 Section 17 . 127.01 (1r) of the statutes is amended to read:

AB915,8,8 127.01 (1r) "Audited financial statement" means a financial statement on which an independent certified public accountant, or an independent public accountant holding a certificate of authority licensed under ch. 442, has expressed an opinion according to generally accepted accounting principles and has conducted an audit according to generally accepted auditing standards.

AB915, s. 18 Section 18. 127.01 (25m) (b) of the statutes is amended to read:

AB915,8,13 127.01 (25m) (b) The financial statement is reviewed according to generally accepted accounting principles by an independent certified public accountant or an independent public accountant who holds a certificate of authority licensed under ch. 442.

AB915, s. 19 Section 19. 127.06 (1) (e) of the statutes is amended to read:

AB915,8,21 127.06 (1) (e) The department may extend the filing deadline under par. (a) 2. by up to 30 days in response to a written request from a warehouse keeper or an independent certified public accountant, or an independent public accountant holding a certificate of authority licensed under ch. 442, that is auditing or reviewing the financial statement for a warehouse keeper if the department receives the request on or before the 5th day of the 4th month beginning after the close of the warehouse keeper's fiscal year and if the request states the reason for the extension.

AB915, s. 20 Section 20 . 127.06 (1m) (e) of the statutes is amended to read:

AB915,9,4 127.06 (1m) (e) The department may extend the filing deadline under par. (b) 2. by up to 30 days in response to a written request from a grain dealer or an independent certified public accountant, or an independent public accountant who holds a certificate of authority licensed under ch. 442, that is auditing or reviewing the financial statement for a grain dealer, if the department receives the written request on or before the 5th day of the 4th month beginning after the close of the grain dealer's fiscal year and if the request states the reason for the extension.

AB915, s. 21 Section 21 . 149.14 (3) (k) of the statutes, as affected by 1997 Wisconsin Act 27, is amended to read:

AB915,9,9 149.14 (3) (k) Rental or purchase, as appropriate, of durable medical equipment or disposable medical supplies, other than eyeglasses and hearing aids instruments.

AB915, s. 22 Section 22 . 149.14 (4) (h) and (i) of the statutes, as affected by 1997 Wisconsin Act 27, are amended to read:

AB915,9,12 149.14 (4) (h) Eyeglasses and hearing aids instruments.

AB915,9,14 (i) Routine physical examinations, including routine examinations to determine the need for eyeglasses and hearing aids instruments.

AB915, s. 23 Section 23 . 440.04 (8) of the statutes is repealed.

AB915, s. 24 Section 24 . 440.05 (intro.) of the statutes, as affected by 1997 Wisconsin Act .... (Assembly Bill 273), is amended to read:

AB915,9,20 440.05 Standard fees. (intro.) The following standard fees apply to all initial credentials, except as provided in ss. 440.42, 440.43, 440.44, 440.51, 442.06, 444.03, 444.05, 444.11, 447.04 (2) (c) 2., 449.17, and 449.18 and 459.46:

AB915, s. 25 Section 25 . 440.08 (2) (a) (intro.) of the statutes, as affected by 1997 Wisconsin Act .... (Assembly Bill 273), is amended to read:

AB915,9,25 440.08 (2) (a) (intro.) Except as provided in par. (b) and in ss. 440.51, 442.04, 442.06, 444.03, 444.05, 444.11, 447.04 (2) (c) 2., 448.065, 447.04 (2) (c) 2., 449.17 , and 449.18 and 459.46, the renewal dates and renewal fees for credentials are as follows:

AB915, s. 26 Section 26 . 440.08 (2) (a) 2. of the statutes is repealed.

AB915, s. 27 Section 27 . 440.23 (1) of the statutes is amended to read:

AB915,10,7 440.23 (1) If the holder of a credential pays a fee required under s. 440.05 (1) or (6), 440.08, 444.03, 444.05, or 444.11 or 459.46 (2) (b) by check and the check is not paid by the bank upon which the check is drawn, the department may cancel the credential on or after the 60th day after the department receives the notice from the bank, subject to sub. (2).

AB915, s. 28 Section 28. 440.963 (1) of the statutes is amended to read:

AB915,10,14 440.963 (1) A firm, partnership or corporation may use the term "Wisconsin registered interior designer" or "Wisconsin registered interior designers", or may advertise or make representations that it provides the services of a Wisconsin registered interior designer, only if at least one principal, partner or, officer or employe who is in responsible charge of the interior design services provided by the firm, partnership or corporation is a Wisconsin registered interior designer.

Note: 1995 Wisconsin Act 322 restricted the use of the title "Wisconsin registered interior designer". This title may not be used by a firm, partnership or corporation unless at least one principal, partner or officer who is in responsible charge of the interior design services provided by the firm, partnership or corporation is a Wisconsin registered interior designer. According to the department of regulation and licensing, this limitation should be revised to permit a firm, partnership or corporation to advertise that it is a "Wisconsin registered interior designer" if the business provides interior design services under the supervision of a registered interior designer employe who is not a principal, partner or officer of the business entity.

AB915, s. 29 Section 29 . 442.02 (7) of the statutes is amended to read:

AB915,11,4 442.02 (7) Nothing contained in this chapter shall prevent the employment by a certified public accountant, or by a public accountant, or by a firm or corporation, furnishing public accounting services as principal, of persons to serve as accountants in various capacities, as needed; provided, that such persons work under the control and supervision of certified public accountants or accountants with certificates of authority as hereinafter provided, that such employes shall not issue any statements or reports over their own names except such office reports to their employer as are customary and that such employes are not in any manner held out to the public as certified public accountants as described in this chapter.

AB915, s. 30 Section 30. 442.02 (9) of the statutes is amended to read:

AB915,11,12 442.02 (9) Nothing contained in this chapter shall apply to any persons who may be employed by more than one person, partnership or corporation, for the purpose of keeping books, making trial balances or statements, and preparing audits or reports, provided such audits or reports are not used or issued by the employers as having been prepared by a certified public accountant and provided such persons do not do any of the things enumerated in sub. (5m) (a), without complying with sub. (5m) (b).

AB915, s. 31 Section 31. 442.03 (2) of the statutes is repealed.

AB915, s. 32 Section 32. 442.03 (3) of the statutes is amended to read:

AB915,11,21 442.03 (3) No corporation or other entity and no officer, partner, stockholder or employe thereof may lawfully practice in this state as a public accountant or a certified public accountant either in the entity's or person's name, or as an employe or under an assumed name, unless the natural person has been granted by this examining board a certificate of authority as a certified public accountant and unless the person or entity, jointly and severally, has complied with all the provisions of this chapter, including licensure.

AB915, s. 33 Section 33. 442.04 (3) of the statutes is repealed.

AB915, s. 34 Section 34. 442.06 of the statutes is repealed.

AB915, s. 35 Section 35. 442.07 (title) of the statutes is amended to read:

AB915,12,2 442.07 (title) Requirements for practice as certified public accountant or public accountant.

AB915, s. 36 Section 36. 442.07 (1) of the statutes is amended to read:

AB915,12,15 442.07 (1) Any person who has been issued a certificate of the person's qualifications to practice as a certified public accountant, shall be styled and known as a "certified public accountant" and no other person shall assume to use such title or the abbreviation "C.P.A." or any other word, words, letters or figures to indicate that the person using the same is a certified public accountant. The terms "chartered accountant", "public accountant" and "certified accountant" and the abbreviation "C.A." are specifically prohibited to such other persons as being prima facie misleading to the public. Any person who has been issued a certificate of authority, as herein provided, shall be styled and known as a "public accountant" and no other person, other than a certified public accountant, shall assume to use such designation or any other word, words, letters or figures to indicate that such person is entitled to practice as a public accountant.

AB915, s. 37 Section 37. 442.07 (2) of the statutes is amended to read:

AB915,12,24 442.07 (2) No person may practice in this state as a certified public accountant or a public accountant, either in the person's name, under an assumed name, or as a member of a partnership, except as provided in s. 442.02 (10), unless the person has been granted a certificate by the examining board and secured a license for the current licensure period. No person may practice in this state as a certified public accountant, as an officer or director of a corporation engaged in the practice of public accounting, unless the corporation has secured a license for the current licensure period.

AB915, s. 38 Section 38. 442.07 (3) of the statutes is amended to read:

AB915,13,13 442.07 (3) Any partnership, which is entitled to practice as certified public accountants in this state or any other state, every resident member and resident manager of which is a certified public accountant of this state, after registering the partnership name with the examining board, may use the designation "certified public accountants" in connection with the partnership name. Any partnership, every member and resident manager of which is a certified public accountant of this state or any other state or holds a certificate of authority under this chapter, after registering the partnership name with the examining board, may use the designation "certified public accountants" in connection with the partnership name. An assumed name, in use prior to September 21, 1935, may be used the same as a partnership name, provided the individual persons practicing as principals under that name hold certificates granted by the examining board and register the name with the examining board.

AB915, s. 39 Section 39. 442.08 of the statutes is amended to read:

AB915,13,20 442.08 Licensure. Upon application by a holder of an unrevoked Wisconsin certificate as a certified public accountant or an unrevoked Wisconsin certificate of authority as provided for in this chapter, the department shall issue a license to the holder. A license shall also be issued to any partnership or corporation, upon application, which has complied with this chapter. The renewal date and renewal fee for licenses issued under this chapter are specified under s. 440.08 (2) (a).

AB915, s. 40 Section 40. 442.10 (1) of the statutes is amended to read:

AB915,14,7 442.10 (1) Whenever any person, as a certified public accountant or public accountant, signs or certifies any report, schedule or statement relative to the affairs of any corporation, association or partnership in which the person is financially interested or by which the person is regularly engaged as an officer or employe, the signature or certification shall be accompanied by a specific statement setting forth the fact that the person is financially interested in or is an officer or regular employe of the corporation, association or partnership. If the person is both financially interested and an officer or regular employe, the statement shall cover both financial interest and employment. In the case of a corporation holding a certificate of authority signing or certifying as above, the interest of any of its stockholders shall be disclosed.

AB915, s. 41 Section 41. 442.11 (3) of the statutes is repealed.

AB915, s. 42 Section 42. 442.11 (4) of the statutes is repealed.

AB915, s. 43 Section 43. 442.11 (6) of the statutes is repealed.

AB915, s. 44 Section 44. 442.11 (7) of the statutes is amended to read:

AB915,14,13 442.11 (7) Who shall practice as a certified public accountant or as a public accountant after his or her certificate has been revoked; or

AB915, s. 45 Section 45. 442.11 (8) of the statutes is amended to read:

AB915,14,18 442.11 (8) Who shall as an individual, or, as a member of a partnership or as an officer or director of a corporation, practice or permit the partnership or corporation to practice as a certified public accountant or as a public accountant unless a license has been secured for the current licensure period; or

AB915, s. 46 Section 46. 442.11 (9) of the statutes is amended to read: