SB532,35,2221 Accy 3.202 (2) (d) The applicant has successfully completed the professional
22ethics examination in s. Accy 3.10 2.306.
SB532,109 23Section 109. Chapter Accy 9 (title) of the administrative code is renumbered
24Chapter Accy 6 (title).
SB532,110 25Section 110. Accy 9.01 of the administrative code is repealed.
SB532,111
1Section 111. Accy 9.02 (Note) of the administrative code is renumbered Accy
26.101 (Note) and amended to read:
SB532,36,63 Accy 6.101 Note: The following questions are intended to assist firms in
4determining whether a peer review is required for renewal. An affirmative response
5to any part of any question means that a peer review is required. Caution: This list
6is not exclusive. Refer to the standards if in doubt.
SB532,36,87 1. Does your firm audit SEC clients, including employer-sponsored plans
8required to file a form 11-K with the SEC?
SB532,36,99 2. Does your firm currently perform the following types of engagements?
SB532,36,10 10 Engagements applying Statements on Auditing Standards (SASs) - Audits?
SB532,36,11 11 Agreed-upon procedures?
SB532,36,13 12 Engagements applying Statements on Standards for Accounting and Review
13Services (SSARS)?
SB532,36,14 14 Reviews of financial statements?
SB532,36,15 15 Compilations of financial statements with disclosures?
SB532,36,17 16 Compilations of financial statements where "Selected
17Information-Substantially All Disclosures Required Are Not Included?"
SB532,36,18 18   Compilations of financial statements that omit substantially all disclosures?
SB532,36,20 19 Engagements applying Statements on Standards for Attestation
20Engagements (SSAE)?
SB532,36,22 21 Engagements applying International Financial Reporting Standards (IFRS)
22or International Auditing Standards (IAS)?
SB532,36,23 23 Examinations of prospective financial statements under SAARS?
SB532,36,24 24 Compilations of prospective financial statements under SAARS?
SB532,36,25 25 Agreed-upon procedures of prospective financial statements?
SB532,37,1
1 Examinations of written assertions?
SB532,37,2 2 Reviews of written assertions?
SB532,37,3 3 Agreed-upon procedures of written assertions?
SB532,37,4 4 Engagements under Government Auditing Standards (Yellow Book)?
SB532,37,5 5 Engagements applying PCAOB Auditing Standards?
SB532,37,6 6 Engagements applying PCAOB Attestation Standards?
SB532,37,8 7 Work performed as subject to requirements of the AICPA peer-review
8program?
SB532,112 9Section 112. Accy 9.02 of the administrative code is renumbered Accy 6.101,
10and Accy 6.101 (1) and (2), as renumbered, are amended to read:
SB532,37,2011 Accy 6.101 (1) After January 1, 2005, an An application for renewal by a
12certified public accounting firm that provides or offers to provide attest services shall
13include a description of at least one peer review of the firm undergone through a peer
14review program approved by the board, or approved by a board that regulates
15certified public accountants in another state,
within 3 years preceding the
16application for renewal. The description shall identify the board-approved peer
17review program administrator, if administered by a peer-review program
18administrator approved by a board that regulates certified public accountants in any
19other CPA licensing jurisdiction
, the outcome of the review, and the year under
20review.
SB532,37,22 21(2) A firm is exempt from the peer review requirements in this section if it does
22not offer or perform attest services as defined in s. 442.001 (1), Stats.
SB532,113 23Section 113. Accy 9.03 of the administrative code is renumbered Accy 6.201,
24and Accy 6.201 (intro.), as renumbered, is amended to read:
SB532,38,4
1Accy 6.201 Reports Report from board-approved review programs
2peer-review program. (intro.) Each board-approved peer review The
3peer-review
program described under s. Accy 6.002 (4) (a) 1. shall report the
4following to the board by December 1 of each even-numbered year:
SB532,114 5Section 114. Accy 9.04 of the administrative code is repealed.
SB532,115 6Section 115. Accy 9.05 of the administrative code is repealed.
SB532,116 7Section 116. Accy 9.06 of the administrative code is repealed.
SB532,117 8Section 117. Nonstatutory provisions.
SB532,38,159 (1) The accounting examining board shall research the feasibility of rules
10establishing continuing education requirements for renewal of a license under
11section 442.08 (1) of the statutes. The board shall prepare a report describing its
12findings and recommendations, including a description of any suggested changes to
13the statutes or the board's rules, and shall submit the report to the appropriate
14standing committees of the legislature in the manner provided under section 13.172
15(3) of the statutes no later than December 31, 2016.
SB532,38,1816 (2) The requirements under sections 227.21 (2) (a) and 442.01 (2) of the statutes
17to obtain the consent of the attorney general and to hold a public hearing do not apply
18with respect to the enactment of this act.
SB532,118 19Section 118. Effective dates. This act takes effect on the day after
20publication, except as follows:
SB532,38,2321 (1) Notwithstanding section 227.265 of the statutes, the treatments of
22provisions of the administrative code take effect on the first day of the 3rd month
23following publication of this act in the Wisconsin Administrative Register.
SB532,38,2424 (End)
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