2013 WISCONSIN ACT 210
An Act to amend 13.92 (4) (c), 13.92 (4) (d), 13.92 (4) (e), 13.92 (4) (f), 35.93 (2) (b) 4., 35.93 (2) (c) 1., 35.93 (3), 35.93 (3) (e) (intro.), 35.93 (3) (e) 1., 227.01 (13) (intro.), 227.11 (2) (intro.), 227.27 (2), 442.01 (2) and 442.04 (5) (b) 4.; and to create 13.92 (4) (bm) and 227.265 of the statutes; relating to: rule-making procedures, practice standards for certified public accountants, and eligibility requirements to sit for the licensure examination for certified public accountants.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
210,1
Section
1. 13.92 (4) (bm) of the statutes is created to read:
13.92 (4) (bm) If 2 or more rules filed under s. 227.20 or modified under s. 227.265 affect the same unit of the Wisconsin administrative code without taking cognizance of the effect thereon of the other rules and if the legislative reference bureau finds that there is no mutual inconsistency in the changes made by each such rule, the legislative reference bureau shall incorporate the changes made by each rule into the text of the unit and document the incorporation in a note to the unit. For each such incorporation, the legislative reference bureau shall include in a correction bill a provision formally validating the incorporation. Section 227.27 (2) is not affected by printing decisions made by the legislative reference bureau under this paragraph.
210,2
Section
2. 13.92 (4) (c) of the statutes is amended to read:
13.92 (4) (c) The legislative reference bureau may insert in the Wisconsin administrative code a note explaining any change made under par. (b) or (bm).
210,3
Section
3. 13.92 (4) (d) of the statutes is amended to read:
13.92 (4) (d) Sections 227.114, 227.116, 227.135, and 227.14 to 227.24 do not apply to any change made by the legislative reference bureau under par. (b) or (bm).
210,4
Section
4. 13.92 (4) (e) of the statutes is amended to read:
13.92 (4) (e) The legislative reference bureau shall prepare and keep on file a record of each change made under par. (b) or (bm).
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Section
5. 13.92 (4) (f) of the statutes is amended to read:
13.92 (4) (f) The legislative reference bureau shall notify the agency involved of each change made under par. (b) or (bm).
35.93 (2) (b) 4. Copies of all rules filed with the legislative reference bureau under s. 227.20 (1) or modified under s. 227.265 since the compilation of the preceding register, including emergency rules filed under s. 227.24 (3).
35.93 (2) (c) 1. Each chapter of the Wisconsin administrative code that has been affected by rules filed with legislative reference bureau under s. 227.20 (1) or modified under s. 227.265, in accordance with sub. (3) (e) 1.
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Section
8. 35.93 (3) of the statutes is amended to read:
35.93 (3) The legislative reference bureau shall compile and deliver to the department for printing copy for a register which shall contain all the rules filed under s. 227.20 or modified under s. 227.265 since the compilation of rules for the preceding issue of the register was made and those executive orders which are to be in effect for more than 90 days or an informative summary thereof. The complete register shall be compiled and published before the first day of each month and a notice section of the register shall be compiled and published before the 15th day of each month. Each issue of the register shall contain a title page with the name "Wisconsin administrative register", the number and date of the register, and a table of contents. Each page of the register shall also contain the date and number of the register of which it is a part in addition to the other necessary code titles and page numbers. The legislative reference bureau may include in the register such instructions or information as in the bureau's judgment will help the user to correctly make insertions and deletions in the code and to keep the code current.
35.93 (3) (e) (intro.) The legislative reference bureau shall incorporate into the appropriate chapters of the Wisconsin administrative code each permanent rule filed with the legislative reference bureau under s. 227.20 (1) or modified under s. 227.265 and, for each chapter of the administrative code affected by a rule, do all of the following:
35.93 (3) (e) 1. Publish the chapter in the appropriate end-of-month register in accordance with the filing deadline for publication established in the rules procedures manual published under s. 227.15 (7) or, in an end-of-month register agreed to by the submitting agency and the legislative reference bureau, or, in the case of a rule modified under s. 227.265, in the end-of-month register for the month in which the bill modifying the rule is enacted.
210,11
Section
11. 227.01 (13) (intro.) of the statutes is amended to read:
227.01 (13) (intro.) "Rule" means a regulation, standard, statement of policy, or general order of general application which has the effect of law and which is issued by an agency to implement, interpret, or make specific legislation enforced or administered by the agency or to govern the organization or procedure of the agency. "Rule" includes a modification of a rule under s. 227.265. "Rule" does not include, and s. 227.10 does not apply to, any action or inaction of an agency, whether it would otherwise meet the definition under this subsection, which:
210,12
Section
12. 227.11 (2) (intro.) of the statutes is amended to read:
227.11 (2) (intro.) Rule-making authority is expressly conferred on an agency as follows:
210,13
Section
13. 227.265 of the statutes is created to read:
227.265 Repeal or modification of rules. If a bill to repeal or modify a rule is enacted, the procedures under ss. 227.114 to 227.21 and 227.26 do not apply. Instead, the legislative reference bureau shall publish the repeal or modification in the Wisconsin administrative code and register as required under s. 35.93, and the repeal or modification shall take effect as provided in s. 227.22.
210,14
Section
14. 227.27 (2) of the statutes is amended to read:
227.27 (2) The code shall be prima facie evidence in all courts and proceedings as provided by s. 889.01, but this does not preclude reference to or, in case of a discrepancy, control over a rule filed with the legislative reference bureau or the secretary of state under s. 227.20 or modified under s. 227.265, and the certified copy of a rule shall also and in the same degree be prima facie evidence in all courts and proceedings.
210,15
Section
15. 442.01 (2) of the statutes is amended to read:
442.01 (2) No The examining board may not adopt a standard or rule relating to professional conduct or unethical practice may be adopted until the examining board has held a public hearing with reference thereto, subject to the rules promulgated under s. 440.03 (1). No Except for a rule modified under s. 227.265, no rule or standard shall become effective until 60 days after its adoption by the examining board. Any person who has appeared at the public hearing and filed written protest against any a proposed standard or rule may, upon the adoption of such standard or rule by the examining board, obtain a review thereof under ch. 227. Thereafter every person practicing as a certified public accountant in the state shall be governed and controlled by the rules and standards prescribed by the examining board, including any modifications under s. 227.265.
442.04 (5) (b) 4. Except as provided in s. 442.05, the person has successfully passed an examination in such subjects affecting accountancy as the examining board considers necessary. A person is not eligible to take the examination under this subdivision unless the person has completed at least 120 semester hours under subd. 3.
210,16
Section
16. Accy 1.003 (1) of the administrative code is amended to read:
Accy 1.003 (1) "Attest service" means any of the following, if performed or intended to be performed in accordance with the statements incorporated under s. Accy 1.205:
(a) An audit or any other engagement that is performed or intended to be performed in accordance with the statements incorporated by reference in s. Accy 1.205 (1).
(b) A review or compilation of a financial statement that is performed or intended to be performed in accordance with the statements incorporated by reference in s. Accy 1.205 (2).
(c) An examination of prospective financial information that is performed or intended to be performed in accordance with the statements incorporated by reference in s. Accy 1.205 (3).
210,17
Section
17. Accy 1.101 of the administrative code is amended to read:
Accy 1.101 Independence standards. The following independence standards of the accounting profession are adopted by reference and shall be used by certified public accountants in Wisconsin:
The Code of Professional Conduct ET Section 101, including Sections ET 101.01 through ET 101.16 101.19, available on the Internet at http://www.aicpa.org/about/code/et101.htm#101-1 http://www.aicpa.org/Research/Standards/CodeofConduct/Pages/sec100.aspx, as of January 31, 2013, and published by the American Institute of Certified Public Accountants in print form as AICPA Professional Standards Volume 2 3, as of June 1, 2002 January 31, 2013. The printed volume is available at:
American Institute of Certified Public Accountants
1455 Pennsylvania Ave., NW 1211 Avenue of the Americas
Washington, DC 20004-1081 New York, NY 10036-8775
Note: Definitions of terms used in the independence standards, ET Section 101, are included in ET Section 92 of the Code of Professional Conduct published by the American Institute of Certified Public Accountants and available at on the Internet site http://www.aicpa.org/about/code/def92.htm at http://www.aicpa.org/Research/Standards/CodeofConduct/Pages/et_92.aspx and in the same printed volume as ET Section 101. Copies of the Standards described above are on file in the offices of the Accounting Examining Board and the Legislative Reference Bureau.
210,18
Section
18. Accy 1.205 (intro.), (1), (2) and (3) of the administrative code are consolidated, renumbered Accy 1.205 and amended to read:
Accy 1.205 Standards for auditing, accounting and review services, and attestation engagements. The following standards of the accounting and auditing profession shall be used by that certified public accountants in Wisconsin: (1) The
shall use are (1) the Statements on Auditing Standards issued as of June 1, 2003 by the Auditing Standards Board of the American Institute of Certified Public Accountants and published as AICPA Professional Standards, volume 1 by the American Institute of Certified Public Accountants, Inc., New York, New York are incorporated by reference into this section. (2) The, the Statements on Standards for Accounting and Review Services issued as of June 1, 2003 by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants and published as AICPA Professional Standards, volume 2 by the American Institute of Certified Public Accountants, Inc., New York, New York are incorporated by reference into this section. (3) The, and the Statements on Standards for Attestation Engagements issued as of June 1, 2003, by the Auditing Standards Board, the Accounting and Review Services Committee, and the Consulting Services Executive Committee of the American Institute of Certified Public Accountants and, published as AICPA Professional Standards, volume 2 by the American Institute of Certified Public Accountants, Inc., New York, New York is; and (2) the auditing standards of the Public Company Accounting Oversight Board. All of those Statements and Standards are incorporated by reference into this section.
Note: Copies of the Statements described above may be purchased from the American Institute of Certified Public Accountants, 1211 Avenue of the Americas, New York, NY 10036-8775.
Note: Copies of the Statements described above are on file in the offices of the Accounting Examining Board and the Legislative Reference Bureau.
210,18m
Section 18m. Accy 9.01 (2) of the administrative code is amended to read:
Accy 9.01 (2) "Engagement review" means to review read the financial statements and other information submitted by the reviewed firm or required under applicable professional standards, and the accountant's report on those statements and that information, of a firm that performs at its highest level of service only services under SSARS or services under the SSAE not included in a system review. An engagement review is usually performed at a location other than the reviewed firm's office. In The objective of an engagement review, the reviewers are required to review the financial statements and accompanying accountant's report for compliance with professional standards, and is to determine whether the firm's working paper documentation conforms engagements submitted for review conform to the requirements of the SSARS and SSAES that are applicable to these engagements applicable professional standards in all material respects.
210,19
Section
19. Accy 9.01 (4) of the administrative code is repealed.
210,19c
Section 19c. Accy 9.01 (5) of the administrative code is amended to read:
Accy 9.01 (5) "SAS" means statements the Statements on auditing standards Auditing Standards issued by the auditing standards board of the American Institute of Certified Public Accountants.
210,19g
Section 19g. Accy 9.01 (6) of the administrative code is amended to read:
Accy 9.01 (6) "SSAE" means the statements Statements on standards Standards for attestation engagements Attestation Engagements issued by the auditing standards board, the accounting and review services committee, and the consulting services executive committee of the American Institute of Certified Public Accountants.
210,19n
Section 19n. Accy 9.01 (7) of the administrative code is amended to read: