Amendment CA1-SSA1-SB55

SB55-SSA1-CA1,864,5 450.03 (1) (g) A person who has applied for a license under s. 450.05 whose practice of pharmacy is limited to performing duties under the direct supervision of a person licensed as a pharmacist by the board and during the period before which the board takes final action on the person's application.

SB55-SSA1-CA1, s. 3608h Section 3608h. 450.04 (3) (b) of the statutes is amended to read:

SB55-SSA1-CA1,864,11 450.04 (3) (b) Has completed an internship in the practice of pharmacy under s. 450.045 or has practical experience acquired in another state which is comparable to that included in the an internship and which is approved and verified by the board or by the agency which is the equivalent of the board in the state in which the practical experience was acquired.

SB55-SSA1-CA1, s. 3608L Section 3608L. 450.045 of the statutes is repealed.".

SB55-SSA1-CA1,864,13 1433. Page 1156, line 6: after that line insert:

SB55-SSA1-CA1,864,15 " Section 3605pb. 442.001 of the statutes is renumbered 442.001 (intro.) and amended to read:

SB55-SSA1-CA1,864,16 442.001 Definition Definitions. (intro.) In this chapter, "examining:

SB55-SSA1-CA1,864,17 (3) "Examining board" means the accounting examining board.

SB55-SSA1-CA1, s. 3605pd Section 3605pd. 442.001 (1) of the statutes is created to read:

SB55-SSA1-CA1,864,19 442.001 (1) "Attest service" means any of the following:

SB55-SSA1-CA1,864,21 (a) An audit or any other engagement that is performed or intended to be performed in accordance with rules promulgated under s. 442.01 (1) (a).

SB55-SSA1-CA1,864,23 (b) A review of a financial statement that is performed or intended to be performed in accordance with rules promulgated under s. 442.01 (1) (b).

SB55-SSA1-CA1,865,3 (c) An examination of prospective financial information that is performed or intended to be performed in accordance with rules promulgated under s. 442.01 (1) (c).

SB55-SSA1-CA1, s. 3605pf Section 3605pf. 442.001 (4) of the statutes is created to read:

SB55-SSA1-CA1,865,6 442.001 (4) "Firm" means a proprietorship, partnership, limited liability partnership, corporation, service corporation, or limited liability company.

SB55-SSA1-CA1, s. 3605ph Section 3605ph. 442.001 (5) of the statutes is created to read:

SB55-SSA1-CA1,865,9 442.001 (5) "Member of a firm" means a director, manager, employee, officer, owner, shareholder, principal, or partner of a firm.

SB55-SSA1-CA1, s. 3605pj Section 3605pj. 442.01 (1) of the statutes is created to read:

SB55-SSA1-CA1,865,12 442.01 (1) The examining board shall promulgate rules that adopt by reference all of the following:

SB55-SSA1-CA1,865,14 (a) The statements on auditing standards issued by the Auditing Standards Board of the American Institute of Certified Public Accountants.

SB55-SSA1-CA1,865,17 (b) The statements on standards for accounting and review services issued by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants.

SB55-SSA1-CA1,865,21 (c) The statements on standards for attestation engagements issued by the Auditing Standards Board, the Accounting and Review Services Committee, and the Consulting Services Executive Committee of the American Institute of Certified Public Accountants.

SB55-SSA1-CA1, s. 3605pL Section 3605pL. 442.01 (2) of the statutes is amended to read:

SB55-SSA1-CA1,866,6 442.01 (2) No standard or rule relating to professional conduct or unethical practice may be adopted until the examining board has held a public hearing with reference thereto, subject to the rules promulgated under s. 440.03 (1). No rule or standard shall become effective until 60 days after its adoption by the examining board. Any person who has appeared at the public hearing and filed written protest against any proposed standard or rule may, upon the adoption of such standard or rule, obtain a review thereof under ch. 227. Thereafter every person practicing as a certified public accountant in the state shall be governed and controlled by the rules and standards prescribed by the examining board.

SB55-SSA1-CA1, s. 3605pn Section 3605pn. 442.01 (3) of the statutes is amended to read:

SB55-SSA1-CA1,866,8 442.01 (3) The examining board shall record its proceedings.

SB55-SSA1-CA1, s. 3605pp Section 3605pp. 442.02 (title) of the statutes is amended to read:

SB55-SSA1-CA1,866,10 442.02 (title) Public Certified public accountant, definition.

SB55-SSA1-CA1, s. 3605pr Section 3605pr. 442.02 (1m) (intro.) of the statutes is amended to read:

SB55-SSA1-CA1,866,14 442.02 (1m) (intro.) A person shall be considered to be in practice as a certified public accountant, within the meaning and intent of this chapter, if any of the following conditions is met:

SB55-SSA1-CA1, s. 3605pt Section 3605pt. 442.02 (1m) (a) of the statutes is amended to read:

SB55-SSA1-CA1,866,19 442.02 (1m) (a) The person holds himself or herself out to the public in any manner as one skilled in the knowledge, science, and practice of accounting, and as qualified and ready to render professional service therein as a certified public accountant for compensation.

SB55-SSA1-CA1, s. 3605pv Section 3605pv. 442.02 (1m) (b) of the statutes is amended to read:

SB55-SSA1-CA1,866,24 442.02 (1m) (b) The person maintains an office for the transaction of business as a certified public accountant or, except as an employee of a certified public accountant, practices accounting, as distinguished from bookkeeping, for more than one employer.

SB55-SSA1-CA1, s. 3605px Section 3605px. 442.02 (1m) (dm) of the statutes is created to read:

SB55-SSA1-CA1,867,1 442.02 (1m) (dm) The person provides or offers to provide an attest service.

SB55-SSA1-CA1, s. 3605pz Section 3605pz. 442.02 (5m) of the statutes is amended to read:

SB55-SSA1-CA1,867,8 442.02 (5m) Subsection (1m) (f) does not prohibit any officer, employee, partner, or principal of any organization from affixing his or her signature to any statement or report in reference to the affairs of that organization with any wording designating the position, title, or office that he or she holds in that organization and does not prohibit any act of a public official or public employee in the performance of his or her duties.

SB55-SSA1-CA1, s. 3605rb Section 3605rb. 442.02 (6) of the statutes is amended to read:

SB55-SSA1-CA1,867,13 442.02 (6) Every member of a partnership and every officer and director of a corporation firm who, in the capacity of partner, officer or director as a member of the firm, does any of the things enumerated in sub. (1m) (a) to (f), shall be considered to be in practice as a certified public accountant.

SB55-SSA1-CA1, s. 3605rd Section 3605rd. 442.02 (7) of the statutes is renumbered 442.025 (1) and amended to read:

SB55-SSA1-CA1,867,20 442.025 (1) Nothing contained in this chapter shall prevent the employment Persons employed by a certified public accountant , or by a public accountant, or by a firm or corporation furnishing public accounting services as principal, of persons licensed under this chapter to serve as accountants in various capacities, as needed, if all of the following conditions are met:

SB55-SSA1-CA1,867,23 (a) The employees serving as accountants work under the control and supervision of certified public accountants, or accountants with certificates of authority granted under s. 442.06.

SB55-SSA1-CA1,868,3 (b) Those The employees serving as accountants shall do not issue any statements or reports over their own names except office reports to their employer that are customary.

SB55-SSA1-CA1,868,5 (c) The employees serving as accountants are not in any manner held out to the public as certified public accountants as described in this chapter.

SB55-SSA1-CA1, s. 3605rf Section 3605rf. 442.02 (8) of the statutes is renumbered 442.025 (2) and amended to read:

SB55-SSA1-CA1,868,10 442.025 (2) Nothing contained in this chapter shall apply to a A practicing attorney, who, in connection with his or her professional work renders any accounting service.

SB55-SSA1-CA1, s. 3605rh Section 3605rh. 442.02 (9) of the statutes is renumbered 442.025 (3) and amended to read:

SB55-SSA1-CA1,868,16 442.025 (3) (intro.) Nothing contained in this chapter shall apply to any persons who may be A person employed by more than one person, partnership or corporation, for the purpose of keeping books, making trial balances , or statements, and preparing audits or reports, if all of the following requirements are met:

SB55-SSA1-CA1,868,18 (a) The audits or reports described in this subsection are not used or issued by the employers as having been prepared by a certified public accountant.

SB55-SSA1-CA1,868,21 (b) The persons employed as described in this subsection do not do any of the things enumerated in sub. s. 442.02 (1m) (f) without complying with sub. except as authorized under s. 442.02 (5m).

SB55-SSA1-CA1, s. 3605rj Section 3605rj. 442.02 (10) of the statutes is renumbered 442.025 (4) and amended to read:

SB55-SSA1-CA1,869,2 442.025 (4) Nothing contained in this chapter shall apply to The holders of state-granted certified public accountant certificates from other states who may be temporarily in this state on professional business incident to their regular practice in the states of their domicile, but with neither residence nor office in this state.

SB55-SSA1-CA1, s. 3605rL Section 3605rL. 442.025 of the statutes is created to read:

SB55-SSA1-CA1,869,5 442.025 Applicability. This chapter does not require a certificate or license under this chapter for any of the following:

SB55-SSA1-CA1,869,6 (5) A public official or public employee in performing his or her duties.

SB55-SSA1-CA1,869,9 (6) A person who performs services involving the use of accounting skills, including management advisory services, the preparation of tax returns, and the preparation of financial statements without issuing reports on the statements.

SB55-SSA1-CA1,869,13 (7) A person who prepares financial statements and issues information thereon that does not purport to be in compliance with the statement on standards for accounting and review services issued by the American Institute of Certified Public Accountants.

SB55-SSA1-CA1, s. 3605rn Section 3605rn. 442.03 (1) of the statutes is renumbered 442.03 and amended to read:

SB55-SSA1-CA1,869,22 442.03 Licenses required. No person may lawfully practice in this state as a certified public accountant either in the person's own name, or as an employee, or under an assumed name, or as an officer, member or employee of a firm, or as an officer or employee of a corporation a member of a firm, unless the person has been granted by the examining board a certificate as a certified public accountant, and unless the person, firm or corporation, jointly and severally, has and firm have complied with all of the provisions of this chapter, including licensure.

SB55-SSA1-CA1, s. 3605rp Section 3605rp. 442.03 (2) of the statutes is repealed.

SB55-SSA1-CA1, s. 3605rr Section 3605rr. 442.03 (3) of the statutes is repealed.

SB55-SSA1-CA1, s. 3605rt Section 3605rt. 442.04 (3) of the statutes is repealed.

SB55-SSA1-CA1, s. 3605rv Section 3605rv. 442.04 (4) (b) of the statutes is repealed.

SB55-SSA1-CA1, s. 3605rx Section 3605rx. 442.04 (4) (bm) of the statutes is amended to read:

SB55-SSA1-CA1,870,8 442.04 (4) (bm) After December 31, 2000, a A person may not take the examination leading to the certificate to practice as a certified public accountant unless the person has completed at least 150 semester hours of education with an accounting concentration at an institution, and has received a bachelor's or higher degree with an accounting concentration from an institution, except as provided in par. (c).

SB55-SSA1-CA1, s. 3605rz Section 3605rz. 442.04 (4) (c) of the statutes is amended to read:

SB55-SSA1-CA1,870,17 442.04 (4) (c) If an applicant has a bachelor's or higher degree from an institution but does not have a resident major in accounting required in par. (b) or an accounting concentration required in par. (bm), the examining board may review such other educational experience from an institution as the applicant presents and, if the examining board determines that such other experience provides the reasonable equivalence of a resident major in accounting required in par. (b) or an accounting concentration required in par. (bm), the examining board shall approve the applicant for examination.

SB55-SSA1-CA1, s. 3605tb Section 3605tb. 442.04 (5) of the statutes is amended to read:

SB55-SSA1-CA1,871,11 442.04 (5) The examining board may not grant a certificate as a certified public accountant to any person other than a person who is 18 years of age or older, does not have an arrest or conviction record, subject to ss. 111.321, 111.322 , and 111.335, and, except as provided in s. 442.05, has successfully passed a written an examination in such subjects affecting accountancy as the examining board considers necessary. If the person applying for the certificate passes the examination during the period beginning on May 17, 1996, and ending on December 31, 2000, the examining board may not grant the certificate unless the applicant has at least 3 years of public accounting experience or its equivalent, the sufficiency of the experience or the equivalency to be judged by the examining board. If the person applying for the certificate passes the examination after December 31, 2000, the The examining board may not grant the certificate unless the applicant has at least 2 years 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 examining board shall ensure that evaluation procedures and examinations are nondiscriminatory, relate directly to accountancy, and are designed to measure only the ability to perform competently as an accountant. The examining board may use the examination service provided by the American Institute of Certified Public Accountants.

SB55-SSA1-CA1, s. 3605td Section 3605td. 442.06 of the statutes is repealed.

SB55-SSA1-CA1, s. 3605tf Section 3605tf. 442.07 (title) of the statutes is amended to read:

SB55-SSA1-CA1,871,15 442.07 (title) Requirements for practice as certified public accountant or public accountant.

SB55-SSA1-CA1, s. 3605th Section 3605th. 442.07 (1) of the statutes is amended to read:

SB55-SSA1-CA1,872,3 442.07 (1) Any person who has been issued a certificate of the person's qualifications to practice as a certified public accountant, shall be styled and known as a "certified public accountant" and no other person shall assume to use such title or the abbreviation "C.P.A." or any other word, words, letters , or figures to indicate that the person using the same is a certified public accountant. The terms "chartered accountant" and "certified accountant" and the abbreviation "C.A." are specifically prohibited to such other persons as being prima facie misleading to the public. Any person who has been issued a certificate of authority, as herein provided, shall be styled and known as a "public accountant" and no other person, other than a certified public accountant, shall assume to use such designation or any other word, words, letters or figures to indicate that such person is entitled to practice as a public accountant.

SB55-SSA1-CA1, s. 3605tj Section 3605tj. 442.07 (2) of the statutes is repealed.

SB55-SSA1-CA1, s. 3605tL Section 3605tL. 442.07 (3) of the statutes is amended to read:

SB55-SSA1-CA1,872,18 442.07 (3) Any partnership, which firm that is entitled to practice as certified public accountants in this state or any other state, and every resident member and resident manager of which the firm who is a certified public accountant of this state, after registering the partnership firm name with the examining board, may use the designation "certified public accountants" in connection with the partnership firm name. Any partnership, every member and resident manager of which is a certified public accountant of this state or any other state or holds a certificate of authority under this chapter, after registering the partnership name with the examining board, may use the designation "public accountants" in connection with the partnership name. An assumed name, in use prior to September 21, 1935, may be used the same as a partnership name, provided the individual persons practicing as principals under that name hold certificates granted by the examining board and register the name with the examining board.

SB55-SSA1-CA1, s. 3605tn Section 3605tn. 442.08 of the statutes is repealed and recreated to read:

SB55-SSA1-CA1,872,23 442.08 Licensure. (1) The department shall issue a license to an individual who holds an unrevoked certificate as a certified public accountant, submits an application for the license on a form provided by the department, and pays the fee specified in s. 440.05 (1).

SB55-SSA1-CA1,873,3 (2) The department shall issue a license to a firm that submits an application for the license on a form provided by the department, pays the fee specified in s. 440.05 (1), and does each of the following:

SB55-SSA1-CA1,873,4 (a) Identifies each office of the firm that is located in this state.

SB55-SSA1-CA1,873,7 (b) If any person who holds an ownership interest in the firm is not licensed under sub. (1), designates an individual licensed under sub. (1) as the individual responsible for the firm's compliance with this chapter.

SB55-SSA1-CA1,873,8 (c) Demonstrates, to the satisfaction of the department, each of the following:

SB55-SSA1-CA1,873,10 1. That all attest services provided by the firm in this state are under the charge of an individual licensed under sub. (1).

SB55-SSA1-CA1,873,13 2. That more than 50% of the ownership interest of the firm is held by individuals who hold certificates or licenses to practice as a certified public accountant issued under the laws of any state or foreign country.

SB55-SSA1-CA1,873,16 3. That each person who holds an ownership interest in the firm, and who does not hold a certificate or license to practice as a certified public accountant, is an individual who actively participates in the firm or an affiliated entity.

SB55-SSA1-CA1,873,20 (3) The examining board shall promulgate rules that define "ownership interest" for purposes of sub. (2) and for determining the percentage of a person's ownership interest in a firm. In promulgating the rules, the examining board shall consider the financial interests and voting rights of all members of a firm.

SB55-SSA1-CA1, s. 3605tp Section 3605tp. 442.083 of the statutes is created to read: