SB184: Bill Text

LRB-3296/2

JEO:skg:jlb

1995 - 1996 LEGISLATURE

1995 Senate BILL 184

May 10, 1995 - Introduced by Senators Petak, Farrow, Buettner, Darling and Burke, cosponsored by Representatives Kreibich, Klusman, Vrakas, Duff, Gard, Kaufert, Silbaugh, Ott, Seratti, Grothman, Walker, Hahn, Albers and Ryba. Referred to Committee on Business, Economic Development and Urban Affairs.

SB184,1,3 An Act to amend 442.04 (4) (b), 442.04 (4) (c) and 442.04 (5); and to create 442.04 (4) (bm) of the statutes; relating to: the requirements for licensure as a certified public accountant and granting rule-making authority.

Analysis by the Legislative Reference Bureau

Under current law, with exceptions, in order to be licensed by the accounting examining board (examining board) as a certified public accountant (CPA), an applicant must have a bachelor's or higher degree with a resident major in accounting from an institution of higher education, have at least 1.5 years of senior accounting experience and pass a written examination. Under current rules, a person must usually have 1.5 years of junior accounting experience before he or she begins senior accounting experience. The examining board may supplement the written examination with an interview of the applicant.

This bill prohibits a person from obtaining a CPA license during the period beginning on the date on which the bill becomes law and ending on December 31, 2000, unless the person has at least 3 years of public accounting experience or its equivalent, instead of the current 1.5 years of senior accounting experience. After December 31, 2000, the bill prohibits a person from obtaining a CPA license unless the person has at least 2 years of public accounting experience or its equivalent, has completed at least 150 semester hours of education with an accounting concentration at an institution of higher education and has received a bachelor's or higher degree with an accounting concentration from an institution of higher education. The bill also eliminates the examining board's authority to supplement a CPA written examination with an interview.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB184, s. 1 Section 1. 442.04 (4) (b) of the statutes is amended to read:

SB184,2,9 442.04 (4) (b) Applicants sitting for the first time for During the period beginning on the effective date of this paragraph .... [revisor inserts date], and ending on December 31, 2000, a person may not take the examination leading to the certificate to practice as a certified public accountant shall present unless the person presents to the examining board a bachelor's or higher degree, with a resident major in accounting, from an institution, except as provided in par. (c). The examining board shall accept without further review the identification under this paragraph by an institution of a resident major in accounting.

SB184, s. 2 Section 2. 442.04 (4) (bm) of the statutes is created to read:

SB184,2,16 442.04 (4) (bm) After December 31, 2000, 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).

SB184, s. 3 Section 3. 442.04 (4) (c) of the statutes is amended to read:

SB184,3,4 442.04 (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.

SB184, s. 4 Section 4. 442.04 (5) of the statutes is amended to read:

SB184,4,6 442.04 (5) No The examining board may not grant a certificate as a certified public accountant may be granted 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 examination in such subjects affecting accountancy as the examining board deems considers necessary, and, if. If the application was made before July 1, 1968, person applying for the certificate passes the examination during the period beginning on the effective date of this subsection .... [revisor inserts date], and ending on December 31, 2000, the examining board may not grant the certificate unless the applicant has had at least 3 years of public accounting experience, or its equivalent to that of a senior in public practice. The examining board may accept evidence of sufficient technical education in accountancy in lieu of 1 1/2 years of public accounting experience. If the application was after that date and the applicant has had at least 1 1/2 years accounting experience equivalent to that of a senior in public practice, the sufficiency of the experience or the equivalency to be judged by the examining board, the examining board may supplement the written examination by an interview and may use the examination service provided by the American institute of certified public accountants. If the person applying for the certificate passes the examination after December 31, 2000, the examining board may not grant the certificate unless the applicant has at least 2 years 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.

SB184,4,7 (End)