Accy 2.101 (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:
(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).
(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.
(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).
88,11
Section
11. Accy 2.202 of the administrative code is repealed and recreated to read:
Accy 2.202 Education 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.:
(1) Earned a master's degree in accounting from an accounting program or department accredited by the Association to Advance Collegiate Schools of Business.
(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:
(a) Financial accounting.
(b) Cost or managerial accounting.
(c) Taxation.
(d) Auditing.
(e) Accounting information systems.
(3) Earned a bachelor's or higher degree from an accredited educational institution and completed all of the following:
(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:
1. Financial accounting.
2. Cost or managerial accounting.
3. Taxation.
4. Auditing.
5. Accounting information systems.
(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:
1. Economics.
2. Finance.
3. Statistics or data analytics.
4. Business law.
5. Information technology.
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.
(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).
(5) Satisfied the 150-hour coursework requirement as provided in emergency rule 1628. This subsection applies only to a candidate who submitted his or her application for a certified public accountant certificate prior to October 1, 2018.
88,12
Section
12. Accy 2.303 of the administrative code is repealed and recreated to read:
Accy 2.303 Education 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.:
(1) Satisfied s. Accy 2.202 (1), (2), or (3).
(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.
(3) Satisfied the 120-hour coursework requirement as provided in emergency rule 1628. 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.
88,14
Section
14
.
Initial applicability.
(1) The treatment of sections Accy 2.101 (2), Accy 2.202, and Accy 2.303 of the Wisconsin Administrative Code first applies retroactively to an application for a certificate as a certified public accountant submitted on the effective date of this subsection.
88,15
Section
15
.
Effective dates. This act takes effect on the day after publication, except as follows:
(1) The treatment of section 442.083 (title) of the statutes, the renumbering of section 442.083 of the statutes, and the creation of section 442.083 (2) of the statutes take effect on December 15, 2019.
(2) Notwithstanding section 227.265 of the statutes, the repeal and modifications of administrative rules take effect retroactively on June 1, 2017.
(3) Section 14 (1) of this act takes effect retroactively on June 1, 2017.
