AB345-ASA1, s. 12 22Section 12. 120.18 (1) (gm) of the statutes is amended to read:
AB345-ASA1,6,1123 120.18 (1) (gm) Payroll and related benefit costs for all school district
24employees in the previous school year. Costs for represented employees shall be
25based upon the costs of any collective bargaining agreements covering such

1employees for the previous school year. If, as of the time specified by the department
2for filing the report, the school district has not entered into a collective bargaining
3agreement for any portion of the previous school year with the recognized or certified
4representative of any of its employees and the school district and the representative
5have been required to submit final offers under s. 111.70 (4) (cm) 6., increased costs
6limited to the lower of the school district's offer or the representative's offer shall be
7reflected in the report. The school district shall amend the annual report to reflect
8any change in such costs as a result of any award or settlement under s. 111.70 (4)
9(cm) 6. between the date of filing the report and October 1. Any such amendment
10shall be concurred in by the licensed certified public accountant licensed or certified
11under ch. 442
certifying the school district audit.
AB345-ASA1, s. 13 12Section 13. 127.01 (1r) of the statutes is amended to read:
AB345-ASA1,6,1713 127.01 (1r) "Audited financial statement" means a financial statement on
14which an independent certified public accountant, or an independent public
15accountant holding a certificate of authority
licensed or certified under ch. 442, has
16expressed an opinion according to generally accepted accounting principles and has
17conducted an audit according to generally accepted auditing standards.
AB345-ASA1, s. 14 18Section 14. 127.01 (25m) (b) of the statutes is amended to read:
AB345-ASA1,6,2219 127.01 (25m) (b) The financial statement is reviewed according to generally
20accepted accounting principles by an independent certified public accountant or an
21independent public accountant who holds a certificate of authority
licensed or
22certified
under ch. 442.
AB345-ASA1, s. 15 23Section 15. 127.06 (1) (e) of the statutes is amended to read:
AB345-ASA1,7,624 127.06 (1) (e) The department may extend the filing deadline under par. (a) 2.
25by up to 30 days in response to a written request from a warehouse keeper or an

1independent certified public accountant, or an independent public accountant
2holding a certificate of authority
licensed or certified under ch. 442, that is auditing
3or reviewing the financial statement for a warehouse keeper if the department
4receives the request on or before the 5th day of the 4th month beginning after the
5close of the warehouse keeper's fiscal year and if the request states the reason for the
6extension.
AB345-ASA1, s. 16 7Section 16. 127.06 (1m) (e) of the statutes is amended to read:
AB345-ASA1,7,148 127.06 (1m) (e) The department may extend the filing deadline under par. (b)
92. by up to 30 days in response to a written request from a grain dealer or an
10independent certified public accountant, or an independent public accountant who
11holds a certificate of authority
licensed or certified under ch. 442, that is auditing or
12reviewing the financial statement for a grain dealer, if the department receives the
13written request on or before the 5th day of the 4th month beginning after the close
14of the grain dealer's fiscal year and if the request states the reason for the extension.
AB345-ASA1, s. 17 15Section 17. 148.19 (2) of the statutes is amended to read:
AB345-ASA1,7,1816 148.19 (2) Legal counsel, certified public accountants licensed or certified
17under ch. 442,
or other persons as to matters the director or officer believes in good
18faith are within the person's professional or expert competence.
AB345-ASA1, s. 18 19Section 18. 180.0701 (4) (c) of the statutes is amended to read:
AB345-ASA1,7,2120 180.0701 (4) (c) Ratification of the selection of independent certified public
21accountants licensed or certified under ch. 442.
AB345-ASA1, s. 19 22Section 19. 180.0826 (2) of the statutes is amended to read:
AB345-ASA1,7,2523 180.0826 (2) Legal counsel, certified public accountants licensed or certified
24under ch. 442,
or other persons as to matters that the director or officer believes in
25good faith are within the person's professional or expert competence.
AB345-ASA1, s. 20
1Section 20. 180.1903 (1) of the statutes is amended to read:
AB345-ASA1,8,82 180.1903 (1) One Except as provided in sub. (1m), one or more natural persons
3licensed, certified, or registered pursuant to any provisions of the statutes, if all have
4the same license, certificate, or registration or if all are health care professionals,
5may organize and own shares in a service corporation. A service corporation may
6own, operate, and maintain an establishment and otherwise serve the convenience
7of its shareholders in carrying on the particular profession, calling , or trade for which
8the licensure, certification, or registration of its organizers is required.
AB345-ASA1, s. 21 9Section 21. 180.1903 (1m) of the statutes is created to read:
AB345-ASA1,8,1210 180.1903 (1m) A service corporation for carrying on the profession of certified
11public accounting may be organized under sub. (1) if more than 50% of the
12shareholders are certified public accountants.
AB345-ASA1, s. 22 13Section 22. 180.1921 (2) of the statutes is amended to read:
AB345-ASA1,8,2514 180.1921 (2) The report shall show the address of this service corporation's
15principal office and the name and post-office address of each shareholder, director,
16and officer of the service corporation and shall certify that, with the exceptions
17permitted in s. ss. 180.1903 (1m) and 180.1913, each shareholder, director, and
18officer is licensed, certified, registered, or otherwise legally authorized to render the
19same professional or other personal service in this state or is a health care
20professional. The service corporation shall prepare the report on forms prescribed
21and furnished by the department, and the report shall contain no fiscal or other
22information except that expressly called for by this section. The department shall
23forward report blanks by 1st class mail to every service corporation in good standing,
24at least 60 days before the date on which the service corporation is required by this
25section to file an annual report.
AB345-ASA1, s. 23
1Section 23. 181.0850 (2) of the statutes is amended to read:
AB345-ASA1,9,52 181.0850 (2) Professionals and experts. Legal counsel, certified public
3accountants licensed or certified under ch. 442, or other persons as to matters the
4director or officer believes in good faith are within the person's professional or expert
5competence.
AB345-ASA1, s. 24 6Section 24. 181.1620 (2) (intro.) of the statutes is amended to read:
AB345-ASA1,9,127 181.1620 (2) (intro.) Accountant's Certified public accountant's report or
8officer's statement.
If annual financial statements are reported upon by a certified
9public accountant licensed or certified under ch. 442, the certified public
10accountant's report must accompany them. If not, the statements must be
11accompanied by a statement of the president or the person responsible for the
12corporation's financial accounting records that includes all of the following:
AB345-ASA1, s. 25 13Section 25. 185.363 (2) of the statutes is amended to read:
AB345-ASA1,9,1614 185.363 (2) Legal counsel, certified public accountants licensed or certified
15under ch. 442,
or other persons as to matters the director or officer believes in good
16faith are within the person's professional or expert competence.
AB345-ASA1, s. 26 17Section 26. 186.094 (2) of the statutes is amended to read:
AB345-ASA1,9,2018 186.094 (2) Legal counsel, certified public accountants licensed or certified
19under ch. 442,
or other persons as to matters the director or officer believes in good
20faith are within the person's professional or expert competence.
AB345-ASA1, s. 27 21Section 27. 186.15 (1) of the statutes is amended to read:
AB345-ASA1,9,2522 186.15 (1) Annual audit. Except as provided in sub. (2), the board of directors
23shall hire a licensed certified public accountant licensed or certified under ch. 442 or
24other qualified person to conduct a comprehensive annual audit of the records,
25accounts and affairs of the credit union.
AB345-ASA1, s. 28
1Section 28. 187.31 (2) of the statutes is amended to read:
AB345-ASA1,10,52 187.31 (2) Legal counsel, certified public accountants licensed or certified
3under ch. 442,
or other professional persons or experts employed by the incorporated
4Roman Catholic church, as to matters the director or officer believes in good faith are
5within the person's professional or expert competence.
AB345-ASA1, s. 29 6Section 29. 187.41 (2) of the statutes is amended to read:
AB345-ASA1,10,107 187.41 (2) Legal counsel, certified public accountants licensed or certified
8under ch. 442,
or other professional persons or experts employed by the religious
9organization, as to matters the director or officer believes in good faith are within the
10person's professional or expert competence.
AB345-ASA1, s. 30 11Section 30. 198.167 of the statutes is amended to read:
AB345-ASA1,11,6 12198.167 Certified public accountant; annual report. The directors of the
13district shall employ annually the commission or a certified public accountant
14licensed or certified under ch. 442 approved by said commission who shall be
15qualified to, and who shall with all due diligence, examine and report upon the
16system of accounts kept by the district, all the contracts of whatsoever kind made and
17entered into by the board of directors within the year immediately preceding, and the
18properties and investments of the district. Said The certified public accountant shall
19in the report make such recommendations and suggestions as to the certified public
20accountant shall seem proper and required for the good of the district, and the
21efficient and economical or advantageous management and operation of the public
22utility or utilities of the district; and the certified public accountant shall in the
23report make such recommendations and suggestions as to the system of accounts
24kept, or in the certified public accountant's judgment to be kept, by the district, in
25connection with each public utility, the classification of the public utilities of the

1district and the establishment of a system of accounts for each class, the manner in
2which such accounts shall be kept, the form of accounts, records, and memoranda
3kept or to be kept, including accounts, records, and memoranda of receipts and
4expenditures of money, and depreciation and sinking fund accounts, as in the
5certified public accountant's judgment may be proper and necessary, and shall not
6conflict with the requirements of the commission.
AB345-ASA1, s. 31 7Section 31. 214.76 (2) and (4) of the statutes are amended to read:
AB345-ASA1,11,168 214.76 (2) The certified public accountant shall deliver the audit report to a
9committee composed of 3 or more members of the board of directors, none of whom
10may be an officer, employee or agent of the savings bank. The committee shall
11present the nature, extent and conclusions of the report at the next meeting of the
12board of directors. A written summary of the committee's presentation, together
13with a copy of the audit report and a list of all criticisms made by the certified public
14accountant conducting the audit and any response of any member of the board of
15directors or any officer of the savings bank, shall be personally served or sent by
16certified mail to all members of the board of directors.
AB345-ASA1,11,23 17(4) The audit report filed with the division shall be certified by the certified
18public
accountant conducting the audit. If a savings bank fails to cause an audit to
19be made, the division shall order an audit to be made by an independent certified
20public accountant at the savings bank's expense. Instead of the audit required under
21sub. (1), the division may accept an audit or portion of an audit made exclusively for
22a deposit insurance corporation or for a financial regulator of another state if the
23home office of the savings bank is located in that state.
AB345-ASA1, s. 32 24Section 32. 215.523 (2) of the statutes is amended to read:
AB345-ASA1,12,3
1215.523 (2) Legal counsel, certified public accountants licensed or certified
2under ch. 442,
or other persons as to matters the director or officer believes in good
3faith are within the person's professional or expert competence.
AB345-ASA1, s. 33 4Section 33. 217.08 (2) of the statutes is amended to read:
AB345-ASA1,12,245 217.08 (2) Annual license fee; additions and deletions of locations. Each
6licensee shall file with the division on or before December 1 of each year a statement
7listing the locations of the offices of the licensee and the names and locations of the
8agents authorized by the licensee. Every licensee shall also on or before December
91 of each year file a financial statement of its assets and liabilities as of a date not
10earlier than the preceding August 31 or, if the licensee is audited annually by an
11independent certified public accountant licensed or certified under ch. 442 at the end
12of each fiscal year, the licensee may submit financial statements certified by said the
13certified public
accountant for the licensee's latest fiscal year. Such statement shall
14be accompanied by the annual licensee fee for the calendar year beginning the
15following January 1 in an amount determined under s. 217.05. The amount of the
16surety bond or deposit of securities required by s. 217.06 shall be adjusted to reflect
17the number of such locations. Licensees which do not pay the maximum license fee
18under s. 217.05 and which do not maintain a bond or deposit of securities in the
19maximum sum of $300,000 as provided in s. 217.06 shall also file a supplemental
20statement setting forth any changes in the list of offices and agents with the division
21on or before April 1, July 1 and October 1 of each year, and the principal sum of the
22corporate surety bond or deposit of securities required by s. 217.06 shall be adjusted
23to reflect any increase or decrease in the number of such locations. Any additional
24license fees which may become due under s. 217.05 shall be paid to the division.
AB345-ASA1, s. 34 25Section 34. 221.0616 (2) of the statutes is amended to read:
AB345-ASA1,13,3
1221.0616 (2) Experts. Legal counsel, certified public accountants licensed or
2certified under ch. 442,
or other persons as to matters that the director or officer
3believes in good faith are within the person's professional or expert competence.
AB345-ASA1, s. 35 4Section 35. 440.05 (intro.) of the statutes is amended to read:
AB345-ASA1,13,7 5440.05 Standard fees. (intro.) The following standard fees apply to all initial
6credentials, except as provided in ss. 440.42, 440.43, 440.44, 440.51, 442.06, 444.03,
7444.05, 444.11, 447.04 (2) (c) 2., 449.17, 449.18 and 459.46:
AB345-ASA1, s. 36 8Section 36. 440.08 (2) (a) (intro.) of the statutes is amended to read:
AB345-ASA1,13,119 440.08 (2) (a) (intro.) Except as provided in par. (b) and in ss. 440.51, 442.04,
10442.06, 444.03, 444.05, 444.11, 448.065, 447.04 (2) (c) 2., 449.17, 449.18 and 459.46,
11the renewal dates and renewal fees for credentials are as follows:
AB345-ASA1, s. 37 12Section 37. 440.08 (2) (a) 2. of the statutes is repealed.
AB345-ASA1, s. 38 13Section 38. 442.001 of the statutes is renumbered 442.001 (intro.) and
14amended to read:
AB345-ASA1,13,15 15442.001 Definition Definitions. (intro.) In this chapter, "examining:
AB345-ASA1,13,16 16(3) "Examining board" means the accounting examining board.
AB345-ASA1, s. 39 17Section 39. 442.001 (1) of the statutes is created to read:
AB345-ASA1,13,1818 442.001 (1) "Attest service" means any of the following:
AB345-ASA1,13,2019 (a) An audit or any other engagement that is performed or intended to be
20performed in accordance with rules promulgated under s. 442.01 (1) (a).
AB345-ASA1,13,2221 (b) A review of a financial statement that is performed or intended to be
22performed in accordance with rules promulgated under s. 442.01 (1) (b).
AB345-ASA1,13,2523 (c) An examination of prospective financial information that is performed or
24intended to be performed in accordance with rules promulgated under s. 442.01 (1)
25(c).
AB345-ASA1, s. 40
1Section 40. 442.001 (4) of the statutes is created to read:
AB345-ASA1,14,32 442.001 (4) "Firm" means a proprietorship, partnership, limited liability
3partnership, corporation, service corporation, or limited liability company.
AB345-ASA1, s. 41 4Section 41. 442.001 (5) of the statutes is created to read:
AB345-ASA1,14,65 442.001 (5) "Member of a firm" means a director, manager, employee, officer,
6owner, shareholder, principal, or partner of a firm.
AB345-ASA1, s. 42 7Section 42. 442.01 (1) of the statutes is created to read:
AB345-ASA1,14,98 442.01 (1) The examining board shall promulgate rules that adopt by reference
9all of the following:
AB345-ASA1,14,1110 (a) The statements on auditing standards issued by the Auditing Standards
11Board of the American Institute of Certified Public Accountants.
AB345-ASA1,14,1412 (b) The statements on standards for accounting and review services issued by
13the Accounting and Review Services Committee of the American Institute of
14Certified Public Accountants.
AB345-ASA1,14,1815 (c) The statements on standards for attestation engagements issued by the
16Auditing Standards Board, the Accounting and Review Services Committee, and the
17Consulting Services Executive Committee of the American Institute of Certified
18Public Accountants.
AB345-ASA1, s. 43 19Section 43. 442.01 (2) of the statutes is amended to read:
AB345-ASA1,15,320 442.01 (2) No standard or rule relating to professional conduct or unethical
21practice may be adopted until the examining board has held a public hearing with
22reference thereto, subject to the rules promulgated under s. 440.03 (1). No rule or
23standard shall become effective until 60 days after its adoption by the examining
24board. Any person who has appeared at the public hearing and filed written protest
25against any proposed standard or rule may, upon the adoption of such standard or

1rule, obtain a review thereof under ch. 227. Thereafter every person practicing as
2a certified public accountant in the state shall be governed and controlled by the rules
3and standards prescribed by the examining board.
AB345-ASA1, s. 44 4Section 44. 442.01 (3) of the statutes is amended to read:
AB345-ASA1,15,55 442.01 (3) The examining board shall record its proceedings.
AB345-ASA1, s. 45 6Section 45. 442.02 (title) of the statutes is amended to read:
AB345-ASA1,15,7 7442.02 (title) Public Certified public accountant, definition.
AB345-ASA1, s. 46 8Section 46. 442.02 (1m) (intro.) of the statutes is amended to read:
AB345-ASA1,15,119 442.02 (1m) (intro.) A person shall be considered to be in practice as a certified
10public accountant, within the meaning and intent of this chapter, if any of the
11following conditions is met:
AB345-ASA1, s. 47 12Section 47. 442.02 (1m) (a) of the statutes is amended to read:
AB345-ASA1,15,1613 442.02 (1m) (a) The person holds himself or herself out to the public in any
14manner as one skilled in the knowledge, science, and practice of accounting, and as
15qualified and ready to render professional service therein as a certified public
16accountant for compensation.
AB345-ASA1, s. 48 17Section 48. 442.02 (1m) (b) of the statutes is amended to read:
AB345-ASA1,15,2118 442.02 (1m) (b) The person maintains an office for the transaction of business
19as a certified public accountant or, except as an employee of a certified public
20accountant, practices accounting, as distinguished from bookkeeping, for more than
21one employer.
AB345-ASA1, s. 49 22Section 49. 442.02 (1m) (dm) of the statutes is created to read:
AB345-ASA1,15,2323 442.02 (1m) (dm) The person provides or offers to provide an attest service.
AB345-ASA1, s. 50 24Section 50. 442.02 (5m) of the statutes is amended to read:
AB345-ASA1,16,6
1442.02 (5m) Subsection (1m) (f) does not prohibit any officer, employee,
2partner, or principal of any organization from affixing his or her signature to any
3statement or report in reference to the affairs of that organization with any wording
4designating the position, title, or office that he or she holds in that organization and
5does not prohibit any act of a public official or public employee in the performance
6of his or her duties
.
AB345-ASA1, s. 51 7Section 51. 442.02 (6) of the statutes is amended to read:
AB345-ASA1,16,118 442.02 (6) Every member of a partnership and every officer and director of a
9corporation
firm who, in the capacity of partner, officer or director as a member of the
10firm
, does any of the things enumerated in sub. (1m) (a) to (f), shall be considered to
11be in practice as a certified public accountant.
AB345-ASA1, s. 52 12Section 52. 442.02 (7) of the statutes is renumbered 442.025 (1) and amended
13to read:
AB345-ASA1,16,1814 442.025 (1) (intro.) Nothing contained in this chapter shall prevent the
15employment
Persons employed by a certified public accountant, or by a public
16accountant,
or by a firm or corporation furnishing public accounting services as
17principal, of persons
licensed under this chapter to serve as accountants in various
18capacities, as needed, if all of the following conditions are met:
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