2015 Wisconsin Act 217

Accy 2.302 (1) The subjects covering the discipline of accounting in the certified public accountant examination shall be as provided in the 4 sections of the by the board of examiners of the American institute of certified public accountants uniform certified public accountant examination Institute of Certified Public Accountants Uniform Certified Public Accountant Examination. The passing grade on each section is 75 or higher.

217,41 Section 41. Accy 3.03 (1) (Note) of the administrative code is repealed.

217,42 Section 42. Accy 3.04 of the administrative code is renumbered Accy 2.303 and amended to read:

Accy 2.303 Education required for examination. A candidate for the certified public accountant examination must possess a bachelor's or higher degree with a resident major in accounting, as defined in s. Accy 7.02 (3), or the reasonable equivalence of a resident major in accounting, as defined in s. Accy 7.03 (1), or reasonably expect to receive a degree with a resident major in accounting or its reasonable equivalence within 45 days following the date of examination complete 120 semester hours of education, including courses covering each of the subjects and the semester hours specified in s. Accy 2.202 (1) and (2).

217,43 Section 43. Accy 3.05 (title) and (1) (intro.) and (a) of the administrative code are renumbered Accy 2.101 (title), (intro.) and (1), and Accy 2.101 (title) and (intro.), as renumbered, are amended to read:

Accy 2.101 (title) Examination application Application. (intro.) A candidate for the certified public accountant examination applying for a certificate as a certified public accountant shall apply on an application form provided by the board and file the application in the board office no later than 60 days prior to the examination date. The application shall be supported by all of the following:

217,44 Section 44. Accy 3.05 (1) (b) (intro.) and 1. of the administrative code are consolidated, renumbered Accy 2.101 (2) and amended to read:

Accy 2.101 (2) Proof of fulfilling the educational requirements specified in s. Accy 2.202 and s. 442.04 (5), Stats., by submitting either: 1. Certified certified copies of transcripts for all academic work completed at an institution, as defined in s. 442.04 (5) (a), Stats., at least one of which must reflect the award of a bachelor's or higher degree, if the candidate has graduated prior to filing the application and the completion of 150 semester hours, including in courses covering each of the subjects and the semester hours specified in s. Accy 2.202 (1) and (2).

217,45 Section 45. Accy 3.05 (1) (b) 2. and 3. and (c), (2) and (3) of the administrative code are repealed.

217,46 Section 46. Accy 3.05 (3) (Note) of the administrative code is repealed.

217,47 Section 47. Accy 3.055 of the administrative code is repealed.

217,48 Section 48. Accy 3.06 of the administrative code is renumbered Accy 2.304, and Accy 2.304 (title), (1), (3) and (4), as renumbered, are amended to read:

Accy 2.304 (title) Examination Candidates for examination. (1) A candidate shall be allowed to sit for each section of the uniform certified public accountant examination individually and in any order.

(3) A candidate must pass all 4 sections of the uniform certified public accountant examination within a rolling 18-month period which that begins on the date that the first section is passed.

(4) If all 4 sections any section of the uniform certified public accountant examination are is not passed within the rolling 18-month period, credit for any section passed outside the 18-month period shall expire and that section shall be retaken.

217,49 Section 49. Accy 3.07 of the administrative code is repealed.

217,50 Section 50. Accy 3.08 of the administrative code is repealed.

217,51 Section 51. Accy 3.09 of the administrative code is renumbered Accy 2.305, and Accy 2.305 (1) (intro.), (a) to (d), (2) and (4), as renumbered, are amended to read:

Accy 2.305 (1) (intro.) Cheating on the certified public accountant examination is a serious breach of integrity and indicates a lack of good professional character. Cheating on an examination includes, but is not limited to any of the following:

(a) Communications concerning an examination being written taken between candidates inside or outside of the examination room, or copying another's answers.

(b) Communications concerning an examination being written taken with accomplices outside of the examination room.

(c) Substitution by a candidate of another person to sit in the examination room for the candidate and write take one or more of the examination questions or papers for the candidate.

(d) Reference to "crib notes," test books, electronic media, or other materials, other than those provided to the candidate as part of the examination, inside or outside of the examination room during periods examinations are being written taken.

(2) Penalties imposed by the board for cheating on the examination shall be related to the seriousness of the offense. Cheating which that was planned in advance is the most serious offense. Penalties may include the entering of a failing grade on all sections written taken for the examinations in which cheating occurred and suspension of the right to write take the next scheduled examination after the examination in which cheating occurred or to the entering of a failing grade on all sections written for the examinations in which cheating occurred and suspension of the right to write for as many as the next 6 scheduled examinations after the examination in which cheating occurred. Time within which conditional credit previously earned for passing part of the examination may be extended by board action in situations where penalties are levied, and by as long as the period of suspension.

(4) Other jurisdictions to which a candidate may apply to write take the certified public accountant examination during a period of suspension of the right to write take the examination shall be notified of the penalty levied in Wisconsin.

217,52 Section 52. Accy 3.10 of the administrative code is renumbered Accy 2.306.

217,53 Section 53. Subchapter II (title) of chapter Accy 3 [precedes Accy 3.101] of the administrative code is created to read:

chapter accy 3

subchapter II

certification by endorsement

217,54 Section 54. Accy 3.11 of the administrative code is renumbered Accy 2.307, and Accy 2.307 (1), as renumbered, is amended to read:

Accy 2.307 (1) Applicants An applicant for the certified public accountant examination may request a review of their examination papers from the American Institute of certified public accountants advisory grading service his or her examination from the National Association of State Boards of Accountancy.

217,55 Section 55. Subchapter III (title) of chapter Accy 3 [precedes Accy 3.201] of the administrative code is created to read:

chapter accy 3

subchapter IIi

foreign endorsement candidates

217,56 Section 56. Chapter Accy 4 (title) of the administrative code is repealed and recreated to read:

chapter accy 4

enforcement

217,57 Section 57. Subchapter I of chapter Accy 4 [precedes Accy 4.001] of the administrative code is created to read:

chapter accy 4

subchapter i

authority

Accy 4.001 Authority. The rules in this chapter are adopted pursuant to the authority in ss. 15.08 (5) (b), 227.11 (2) and 442.12, Stats.

217,58 Section 58. Accy 4.01 of the administrative code is renumbered Accy 5.301.

217,59 Section 59. Accy 4.02 of the administrative code is renumbered Accy 5.101 and amended to read:

Accy 5.101 Firm license. A firm shall meet the ownership requirements of s. 442.08 (2) (c) 2., Stats., and be licensed as a certified public accountant if any member of the firm practices as a certified public accountant in Wisconsin other than on a temporary basis as described in s. 442.025 (4), Stats. An individual licensed as a CPA may only provide attest services, as defined in s. 442.001 (1), Stats., in a CPA firm that has a firm license.

217,60 Section 60. Accy 4.03 of the administrative code is renumbered Accy 5.201.

217,61 Section 61. Accy 4.035 of the administrative code is repealed.

217,62 Section 62. Accy 4.037 of the administrative code is renumbered Accy 5.102, and Accy 5.102 (3) (d), as renumbered, is amended to read:

Accy 5.102 (3) (d) That the applicant has satisfied the peer review requirements in s. 442.087, Stats., and ch. Accy 9 6.

217,63 Section 63. Accy 4.04 of the administrative code is renumbered Accy 5.302 and amended to read:

Accy 5.302 Firms without office in this state. Firms without a bona fide office in this state, as described in s. Accy 4.06 5.303 (2), may be licensed if there is a licensed Wisconsin certified public accountant designated as the individual responsible for the firm's compliance with ch. 442, Stats., for the Wisconsin engagement or engagements.

217,64 Section 64. Accy 4.05 of the administrative code is renumbered Accy 5.103.

217,65 Section 65. Accy 4.06 of the administrative code is renumbered Accy 5.303.

217,66 Section 66. Accy 4.07 (title) of the administrative code is renumbered Accy 5.401 (title) and amended to read:

Accy 5.401 (title) Change in member members of a firm.

217,67 Section 67. Accy 4.07 (1) of the administrative code is renumbered Accy 5.401 (1) (intro.) and amended to read:

Accy 5.401 (1) (intro.) The board is to shall be notified by the firm in writing of changes in the member members of the firm or firm name or any of the following no later than 30 days after the change.:

217,68 Section 68. Accy 4.07 (2) of the administrative code is renumbered 5.401 (3).

217,69 Section 69. Subchapter II of chapter Accy 4 [precedes Accy 4.101] of the administrative code is created to read:

chapter accy 4

subchapter iI

discipline

Accy 4.101 Grounds for discipline. Grounds for discipline include all of the following:

(1) Engaging in dishonesty, fraud, or deceit in obtaining a certificate or license, including submitting to the board any evidence known to be false or forged in, or in support of, an application for a certificate or license or cheating on an examination.

(2) Knowingly making misleading, deceptive, or untrue representations in the performance of services.

(3) Using the CPA title or providing attest services in this state without a certificate or license or without properly qualifying to practice across state lines.

(4) Using or attempting to use a certificate or license that has been suspended or revoked.

(5) Making any false, misleading, or deceptive statement in support of an application for a license filed by another person.

(6) Failing to comply with professional standards as to the attest or compilation competency requirements for those who supervise attest or compilation engagements and sign reports on financial statements or other compilation communications with respect to financial statements.

(7) Failing to comply with the applicable peer review requirements set out in ch. Accy 6.

(8) Engaging in conduct reflecting adversely upon the licensee's fitness to perform services, including conduct constituting incompetence. In this subsection, "conduct constituting incompetence" includes gross negligence, recklessness, or repeated acts of negligence in the licensee's record of professional practice.

(9) Engaging in professional practice while having any condition, whether physical or mental, that endangers the public by impairing skill and care in providing professional services. Evidence of such a condition includes evidence that the person has been adjudicated as mentally incompetent.

(10) Presenting a license issued to another person as one's own.

(11) Concealing information regarding violations by other licensees when questioned or requested by the board.

(12) Willfully failing to file a report or record required by state or federal law; willfully impeding or obstructing the filing of such a report or record or inducing another person to impede or obstruct such filing by another person; or making or filing such a report or record that one knows to be false. A finding, adjudication, consent order, or conviction by a federal or state court, agency, or regulatory authority or by the Public Company Accounting Oversight Board that a licensee has willfully failed to file a required report or record shall be prima facie evidence of a violation of this subsection.

(13) Having an active or stayed revocation or suspension of any occupational license or other privilege to practice any licensed occupation by or before any state, federal, foreign, or other licensing or regulatory authority, provided that the grounds for the revocation or suspension include wrongful conduct such as fraud, dishonesty, or deceit or any other conduct that evidences an unfitness of the applicant to practice public accountancy.

217,70 Section 70. Chapter Accy 5 (title) of the administrative code is repealed and recreated to read:

chapter accy 5

firm licensure

217,71 Section 71. Accy 5.01 (title) of the administrative code is renumbered Accy 2.401 (title) and amended to read:

Accy 2.401 (title) Review dates of candidate's experience.

217,72 Section 72. Accy 5.01 of the administrative code is renumbered Accy 2.401 (1) and amended to read:

Accy 2.401 (1) Following the successful passing of the written each section of the uniform CPA examination and upon written request by a candidate, a candidate's experience shall be reviewed by the board. The written request shall include employer verification statements and information on experience to update the experience data already in the candidate's file. Such evaluation will determine whether the candidate qualifies at that time under the requirement of having at least one year of public accounting experience or its equivalent, the sufficiency of the experience or the equivalency to be judged by the examining board. The board shall inform the candidate if additional experience is needed. Upon gaining the required additional experience, the candidate shall notify the board and provide verification.

217,73 Section 73. Accy 5.02 of the administrative code is renumbered Accy 2.402.

217,74 Section 74. Accy 5.03 of the administrative code is renumbered Accy 2.403 and amended to read:

Accy 2.403 Public accounting experience. An individual must have at least one year of public accounting experience or its equivalent as determined by the board. Experience shall be acquired after the applicant has earned a degree described in s. 442.04 Stats., that qualifies the applicant to take the CPA examination 120 semester hours of education from an accredited college or university, including courses covering each of the subjects and the semester hours specified in s. Accy 2.202 (1) and (2). This experience must have been acquired within 5 years prior to applying for the certification as a certified public accountant.

217,75 Section 75. Accy 5.04 of the administrative code is renumbered Accy 2.404.