Accy 2.405   Bookkeeping and elementary individual tax return preparation.
Accy 2.406   Judgment.
Subchapter VI — Licensure
Accy 2.501   Requirements for renewal and reinstatement of individual licenses.
subch. I of ch. Accy 2 Subchapter I — Authority and Definitions
Accy 2.001 Accy 2.001Authority. The rules in this chapter are adopted under the authority in ss. 15.08 (5) (b), 227.11 (2), and 442.04, Stats.
Accy 2.001 History History: 2015 Wis. Act 217: cr. Register May 2016 No. 725, eff. 6-1-16.
Accy 2.002 Accy 2.002Definitions. In this chapter, except where a different meaning is indicated:
Accy 2.002(1) (1) “Accredited" means to be listed by an accrediting agency recognized by the secretary of the federal department of education.
Accy 2.002 Note Note: For a listing of accrediting agencies recognized by the secretary of the federal department of education, see http:/www2.ed.gov/admins/finaid/accred/accreditation_pg6.html.
Accy 2.002(2) (2) “Bachelor's degree" means a baccalaureate degree normally conferred by universities and colleges at the completion of at least a 4-year, full-time, academic-year program of study.
Accy 2.002 Note Note: Some students complete the 4-year bachelor's degree in less than 4 years by attending summer school or maximum course loads over a number of academic semesters.
Accy 2.002 History History: 2015 Wis. Act 217: cr. Register May 2016 No. 725, eff. 6-1-16; EmR1713: emerg. am. (intro), eff. 6-23-17; 2017 Wis. Act 88: am. (intro.) Register December 2017 No. 744, eff. 6-1-17; CR 17-064: am. (intro.) Register March 2018 No. 747 eff. 4-1-18.
subch. II of ch. Accy 2 Subchapter II — Application for Certification of Individuals
Accy 2.101 Accy 2.101Application. A candidate applying for a certificate as a certified public accountant shall apply on an application form provided by the board. The application shall be supported by all of the following:
Accy 2.101(1) (1) The appropriate fee authorized in s. 440.05, Stats.
Accy 2.101(2) (2) Proof of fulfilling the educational requirements specified in s. Accy 2.202 and s. 442.04 (5) (b) 3., Stats., by submitting one of the following:
Accy 2.101(2)(a) (a) For a candidate who qualifies under s. Accy 2.202 (1), proof that the candidate earned a master's degree specified under s. Accy 2.202 (1).
Accy 2.101(2)(b) (b) For a candidate who qualifies under s. Accy 2.202 (2), (3), or (4), certified copies of transcripts for all academic work completed at an accredited educational institution that reflect that the candidate has satisfied the requirement under s. Accy 2.202 (2), (3), or (4), whichever is applicable.
Accy 2.101(2)(c) (c) For a candidate who qualifies under s. Accy 2.202 (5), certified copies of transcripts for all academic work leading to a bachelor's or higher degree in accounting meeting the coursework requirement described in s. Accy 2.202 (5).
Accy 2.101(3) (3) Evidence of at least one year of public accounting experience as required by s. Accy 2.403 and s. 442.04 (5) (b) 5., Stats.
Accy 2.101(4) (4) Evidence that the applicant has successfully passed each section of the Uniform Certified Public Accountant Examination.
Accy 2.101(5) (5) Successful completion of the open book professional ethics examination on statutes and rules governing the practice of public accounting in Wisconsin as set forth in s. Accy 2.306.
Accy 2.101 Note Note: Application forms are available upon request to the board's office at 1400 East Washington Avenue, P.O. Box 8935, Madison WI 53708-8935 or on the Internet at www.dsps.wi.gov. An applicant with a disability will be provided reasonable accommodations.
Accy 2.101 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93.; r. and recr. Register, March, 1996, No. 483, eff. 4-1-96; am. (1) (b) 2. and 3., Register, January, 1999, No. 517, eff. 2-1-99; correction in (1) (b) 1. to 3. made under s. 13.92 (4) (b) 7., Stats., Register April 2015 No. 712; 2015 Wis. Act 217: renum. (title), (intro.), (1), and (2) from Accy 3.05 (title), (1) (intro.), (a) and (b) (intro.), 1. and am. (title), (intro.), (2) cr. (3) to (5) Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am. (2), eff. 9-26-16; EmR1713: emerg. r. and recr. (2), eff. 6-23-17; 2017 Wis. Act 88: r. and recr. (2) Register December 2017 No. 744, eff. 6-1-17; CR 17-064: r. and recr. (2) (a), (b), (c), Register March 2018 No. 747 eff. 4-1-18.
Accy 2.102 Accy 2.102Expiration of applications. If an applicant for a certificate to practice as a certified public accountant does not comply with a request for information related to his or her application within one year from the date the first request for information was made, the application expires. The applicant may file a new application if his or her application expires under this section.
Accy 2.102 History History: Cr. Register, August, 1992, No. 440, eff. 9-1-92; 2015 Wis. Act 217: renum. from Accy 7.07 Register May 2016 No. 725, eff. 6-1-16.
subch. III of ch. Accy 2 Subchapter III — Education
Accy 2.202 Accy 2.202Education required for certification. A candidate applying for a certificate to practice as a certified public accountant must have earned a bachelor's or higher degree from an accredited educational institution and have satisfied one of the following for purposes of meeting the 150-hour coursework requirement under s. 442.04 (5) (b) 3., Stats.:
Accy 2.202(1) (1) Earned a master's degree in accounting from an institution, as defined in s. 442.04 (5) (a), Stats., with an accounting program or department accredited by the Association to Advance Collegiate Schools of Business.
Accy 2.202(2) (2) Earned a bachelor's or higher degree from a business program or college of business accredited by the Association to Advance Collegiate Schools of Business, the International Assembly for Collegiate Business Education, or the Accreditation Council for Business Schools and Programs, and completed at least 24 semester hours in accounting from an accredited educational institution at the undergraduate level or 15 semester hours at the graduate level, or an equivalent combination, that cover each of the following subject areas:
Accy 2.202(2)(a) (a) Financial accounting.
Accy 2.202(2)(b) (b) Cost or managerial accounting.
Accy 2.202(2)(c) (c) Taxation.
Accy 2.202(2)(d) (d) Auditing.
Accy 2.202(2)(e) (e) Accounting information systems.
Accy 2.202(3) (3) Earned a bachelor's or higher degree from an accredited educational institution and completed all of the following:
Accy 2.202(3)(a) (a) At least 24 semester hours in accounting from an accredited educational institution at the undergraduate level or 15 semester hours at the graduate level, or an equivalent combination, that cover each of the following subject areas:
Accy 2.202(3)(a)1. 1. Financial accounting.
Accy 2.202(3)(a)2. 2. Cost or managerial accounting.
Accy 2.202(3)(a)3. 3. Taxation.
Accy 2.202(3)(a)4. 4. Auditing.
Accy 2.202(3)(a)5. 5. Accounting information systems.
Accy 2.202(3)(b) (b) At least 24 semester hours in business and economics courses other than accounting courses from an accredited educational institution at the undergraduate level or 15 semester hours at the graduate level, or an equivalent combination, that cover each of the following subject areas:
Accy 2.202(3)(b)1. 1. Economics.
Accy 2.202(3)(b)2. 2. Finance.
Accy 2.202(3)(b)3. 3. Statistics or data analytics.
Accy 2.202(3)(b)4. 4. Business law.
Accy 2.202(3)(b)5. 5. Information technology.
Accy 2.202 Note Note: The courses covering the subjects of financial accounting, cost or managerial accounting, taxation, and auditing under s. Accy 2.202 (2) or (3), would generally be courses taken beyond the introduction accounting course required of every business major.
Accy 2.202(4) (4) Completed coursework that the board determines is reasonably equivalent to the course content and semester hours requirements specified in sub. (3) (a) and (b).
Accy 2.202(5) (5) In the course of completing at least 150 semester hours of education, earned a bachelor's or graduate degree in accounting prior to June 1, 2017, from an accounting program or department that is listed by an accrediting agency recognized by the board. This subsection applies only to a candidate who submitted an application for a certified public accountant certificate prior to October 1, 2018.
Accy 2.202 History History: 2015 Wis. Act 217: renum. (intro.), (1) from Accy 7.035 (intro.), (2) and am., cr. (1) (a) to (f), (2) Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am. (intro.), cr. (3), eff. 9-26-16; EmR1713: emerg. r. and recr., eff. 6-23-17; 2017 Wis. Act 88: r. and recr. Register December 2017 No. 744, eff. 6-1-17; CR 17-064: r. and recr., Register March 2018 No. 747 eff. 4-1-18.
subch. IV of ch. Accy 2 Subchapter IV — Examination
Accy 2.301 Accy 2.301Examination. A candidate for a certified public accountant certificate shall successfully pass the certified public accountant examination set forth in s. Accy 2.302 and the professional ethics examination set forth in s. Accy 2.306.
Accy 2.301 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; 2015 Wis. Act 217: renum. from Accy 3.02 and am. Register May 2016 No. 725, eff. 6-1-16.
Accy 2.302 Accy 2.302Certified public accountant examination.
Accy 2.302(1)(1) The subjects covering the discipline of accounting in the certified public accountant examination shall be as provided by the board of examiners of the American Institute of Certified Public Accountants Uniform Certified Public Accountant Examination. The passing grade on each section is 75 or higher.
Accy 2.302(2) (2) Examinations shall be graded by the board of examiners of the American institute of certified public accountants advisory grading service.
Accy 2.302 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; 2015 Wis. Act 217: renum. from Accy 3.03 and am. (1) Register May 2016 No. 725, eff. 6-1-16.
Accy 2.303 Accy 2.303Education required for examination. A candidate for the certified public accountant examination must have satisfied one of the following for purposes of meeting the 120-hour coursework requirement under s. 442.04 (5) (b) 4., Stats.:
Accy 2.303(1) (1) Satisfied s. Accy 2.202 (1), (2), or (3).
Accy 2.303(2) (2) Satisfied the course content and semester hours requirements specified in s. Accy 2.202 (3) (a) and (b), or completed coursework that the board determines is reasonably equivalent to those requirements.
Accy 2.303(3) (3) Completed at least 120 semester hours of education leading to a bachelor's or graduate degree in accounting that meets the requirements specified in s. Accy 2.202 (5). This subsection applies only to a candidate who submitted an application to take the certified public accountant examination under s. Accy 2.302 prior to October 1, 2017.
Accy 2.303 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93. r. and recr. Register, March, 1996, No. 483, eff. 4-1-96; 2015 Wis. Act 217: renum. from Accy 3.04 and am. Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am., eff. 9-26-16; EmR1713: emerg. r. and recr., eff. 6-23-17; 2017 Wis. Act 88: r. and recr. Register December 2017 No. 744, eff. 6-1-17; CR 17-064: r. and recr., Register March 2018 No. 747 eff. 4-1-18.
Accy 2.304 Accy 2.304Candidates for examination.
Accy 2.304(1) (1) A candidate shall be allowed to sit for each section of the uniform certified public accountant examination individually.
Accy 2.304(2) (2) A candidate shall retain credit for any section passed for 18 months. A candidate may not retake a failed section within the same calendar quarter.
Accy 2.304(3) (3) A candidate must pass all sections of the uniform certified public accountant examination within a rolling 18-month period that begins on the date that the first section is passed.
Accy 2.304(4) (4) If any section of the uniform certified public accountant examination 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.
Accy 2.304 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; CR 02-149: r. and recr. Register October 2003 No. 574, eff. 11-1-03; 2015 Wis. Act 217: renum. from Accy 3.06 and am. (title), (1), (3), (4) Register May 2016 No. 725, eff. 6-1-16.
Accy 2.305 Accy 2.305Cheating on examination.
Accy 2.305(1) (1) 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 any of the following:
Accy 2.305(1)(a) (a) Communications concerning an examination being taken between candidates inside or outside of the examination room, or copying another's answers.
Accy 2.305(1)(b) (b) Communications concerning an examination being taken with accomplices outside of the examination room.
Accy 2.305(1)(c) (c) Substitution by a candidate of another person to sit in the examination room for the candidate and take one or more of the examination questions for the candidate.
Accy 2.305(1)(d) (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 taken.
Accy 2.305(1)(e) (e) Divulging the nature or content of any examination question or answer to any individual or entity subsequent to the conclusion of the examination.
Accy 2.305(1)(f) (f) Removing any examination materials, notes or other similar materials from the examination room.
Accy 2.305(1)(g) (g) Falsifying or misrepresenting educational credentials or other information required for admission to the examination.
Accy 2.305(2) (2) Penalties imposed by the board for cheating on the examination shall be related to the seriousness of the offense. Cheating that was planned in advance is the most serious offense. Penalties may include the entering of a failing grade on all sections taken for the examinations in which cheating occurred and suspension of the right to take the next scheduled examination 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.
Accy 2.305(3) (3) If more than one candidate is involved in a connected offense of cheating on an examination, each candidate knowingly involved in the cheating is subject to penalties.
Accy 2.305(4) (4) Other jurisdictions to which a candidate may apply to take the certified public accountant examination during a period of suspension of the right to take the examination shall be notified of the penalty levied in Wisconsin.
Accy 2.305 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; cr. (1) (e) and (f), Register, March, 1996, No. 483, eff. 4-1-96; 2015 Wis. Act 217: renum. from Accy 3.09 and am. (1) (intro.), (a) to (d), (2), (4), cr. (1) (g) Register May 2016 No. 725, eff. 6-1-16.
Accy 2.306 Accy 2.306Professional ethics examination.
Accy 2.306(1) (1) A candidate for a certified public accountant certificate shall successfully pass an open book professional ethics examination on statutes and rules governing the practice of public accounting in Wisconsin.
Accy 2.306(2) (2) The passing grade on the professional ethics examination is 80.
Accy 2.306(3) (3) A candidate who fails to achieve a passing score on the professional ethics examination is not eligible for reexamination for 30 days following notification of the failure. A candidate who fails to achieve a passing score upon reexamination is not eligible for another reexamination for 90 days following notification of the reexamination failure.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.