SB532,13,7 7Accy 2.002 Definitions. In this chapter:
SB532,13,9 8(1) "Accredited" means to be listed by an accrediting agency recognized by the
9secretary of the federal department of education.
SB532,13,12 10Note: For a listing of accrediting agencies recognized by the secretary of the
11federal department of education, see
12 http:/www2.ed.gov/admins/finaid/accred/accreditation_pg6.html.
SB532,13,15 13(2) "Bachelor's degree" means a baccalaureate degree normally conferred by
14universities and colleges at the completion of at least a 4-year, full-time,
15academic-year program of study.
SB532,13,18 16Note: Some students complete the 4-year bachelor's degree in less than 4 years
17by attending summer school or maximum course loads over a number of academic
18semesters.
SB532,25 19Section 25. Subchapter II (title) of chapter Accy 2 [precedes Accy 2.101] of the
20administrative code is created to read:
SB532,13,2121 chapter accy 2
SB532,13,2222 subchapter II
SB532,13,2423 application for certification
24 of individuals
SB532,26 25Section 26. Accy 2.101 (Note) of the administrative code is created to read:
SB532,14,4
1Accy 2.101 Note: Application forms are available upon request to the board's
2office at 1400 East Washington Avenue, P.O. Box 8935, Madison WI 53708-8935 or
3on the Internet at www.dsps.wi.gov. An applicant with a disability will be provided
4reasonable accommodations.
SB532,27 5Section 27. Accy 2.101 (3), (4) and (5) of the administrative code are created
6to read:
SB532,14,87 Accy 2.101 (3) Evidence of at least one year of public accounting experience as
8required by s. Accy 2.403 and s. 442.04 (5) (b) 5., Stats.
SB532,14,10 9(4) Evidence that the applicant has successfully passed each section of the
10Uniform Certified Public Accountant Examination.
SB532,14,13 11(5) Successful completion of the open book professional ethics examination on
12statutes and rules governing the practice of public accounting in Wisconsin as set
13forth in s. Accy 2.306.
SB532,28 14Section 28. Subchapter III (title) of chapter Accy 2 [precedes Accy 2.202] of the
15administrative code is created to read:
SB532,14,1616 chapter accy 2
SB532,14,1717 subchapter III
SB532,14,1818 education
SB532,29 19Section 29. Accy 2.202 (1) (a) to (f) and (2) of the administrative code are
20created to read:
SB532,14,2121 Accy 2.202 (1) (a) Intermediate financial accounting.
SB532,14,2222 (b) Advanced financial accounting.
SB532,14,2323 (c) Cost or managerial accounting.
SB532,14,2424 (d) Taxation.
SB532,14,2525 (e) Auditing.
SB532,15,1
1(f) Accounting information systems.
SB532,15,4 2(2) At least 24 semester hours in business courses other than accounting
3courses, at the undergraduate or graduate level, including at least one course in each
4of the following subjects:
SB532,15,55 (a) Economics.
SB532,15,66 (b) Finance.
SB532,15,77 (c) Marketing.
SB532,15,88 (d) Management or organizational behavior.
SB532,15,99 (e) Business law.
SB532,15,1010 (f) Information technology.
SB532,15,17 11Note: The courses covering the subjects of advanced financial accounting, cost
12or managerial accounting, taxation, and auditing under s. Accy 2.202 (1), would
13generally be courses taken beyond the introduction level. A course would generally
14be considered advanced financial accounting if it covers one or more of the following
15topics: foreign currency transactions, partnerships, state and local governments,
16not-for-profit entities, consolidations, mergers and acquisitions, intercompany
17transactions, fraud investigations, accounting theory, and accounting research.
SB532,30 18Section 30. Subchapter IV (title) of chapter Accy 2 [precedes Accy 2.301] of the
19administrative code is created to read:
SB532,15,2020 chapter accy 2
SB532,15,2121 subchapter iv
SB532,15,2222 examination
SB532,31 23Section 31. Accy 2.305 (1) (g) of the administrative code is created to read:
SB532,15,2524 Accy 2.305 (1) (g) Falsifying or misrepresenting educational credentials or
25other information required for admission to the examination.
SB532,32
1Section 32. Subchapter V (title) of chapter Accy 2 [precedes Accy 2.401] of the
2administrative code is created to read:
SB532,16,33 chapter accy 2
SB532,16,44 subchapter v
SB532,16,55 experience
SB532,33 6Section 33. Accy 2.401 (2) of the administrative code is created to read:
SB532,16,97 Accy 2.401 (2) Experience may consist of providing any type of services or
8advice using accounting, attest, compilation, management advisory, financial
9advisory, tax, or related consulting skills.
SB532,34 10Section 34. Subchapter VI (title) of chapter Accy 2 [precedes Accy 2.501] of the
11administrative code is created to read:
SB532,16,1212 Chapter accy 2
SB532,16,1313 subchapter VI
SB532,16,1414 LICENSURE
SB532,35 15Section 35. Accy 2.501 of the administrative code is created to read:
SB532,16,19 16Accy 2.501 Requirements for renewal and reinstatement of individual
17licenses. (1)
Renewal before 5 years. An individual certified public accountant
18who files an application for renewal of a license within 5 years after the renewal date
19may renew his or her license by filing with the board all of the following:
SB532,16,2020 (a) An application for renewal on a form prescribed by the department.
SB532,16,2221 (b) The fee determined by the department under s. 440.03 (9) (a), Stats., and
22the applicable late renewal fee specified in s. 440.08 (3) (a), Stats.
SB532,16,25 23(2) Renewal after 5 years. An individual certified public accountant who files
24an application for renewal of a license 5 years or more after the renewal date may
25renew his or her license by filing with the board all of the following:
SB532,17,1
1(a) An application for renewal on a form prescribed by the department.
SB532,17,32 (b) The fee determined by the department under s. 440.03 (9) (a), Stats., and
3the applicable late renewal fee specified in s. 440.08 (3) (a), Stats.
SB532,17,64 (c) Verification of successful completion of examinations specified in s. Accy
52.301 or education specified in s. Accy 2.202 or both as may be prescribed by the
6board.
SB532,17,13 7(3) Reinstatement. (a) Notwithstanding the board's authority under s. 442.12
8(1) (g), Stats., to grant a hearing pursuant to an application in writing and notice, an
9individual certified public accountant who has a license with unmet disciplinary
10requirements and who has failed to renew the license within 5 years after the
11renewal date, or an individual whose license has been surrendered or revoked, may
12apply for reinstatement of his or her license. The request shall be in writing and be
13accompanied by all of the following:
SB532,17,1414 1. The materials and fee specified in sub. (2) (a) to (c).
SB532,17,1515 2. Evidence of completion of disciplinary requirements, if applicable.
SB532,17,1716 3. Evidence of rehabilitation or change in circumstances warranting
17reinstatement of the credential.
SB532,17,2118 (b) The board shall grant reinstatement of a license following an application
19for reinstatement under par. (a) if the board determines the individual has satisfied
20the requirements under par. (a) 1. to 3. and the board determines reinstatement is
21warranted.
SB532,36 22Section 36. Chapter Accy 3 (title) of the administrative code is repealed and
23recreated to read:
SB532,17,2424 chapter accy 3
SB532,17,2525 endorsement
SB532,37
1Section 37. Subchapter I (title) of chapter Accy 3 [precedes Accy 3.001] of the
2administrative code is created to read:
SB532,18,33 chapter accy 3
SB532,18,44 subchapter i
SB532,18,55 authority and definitions
SB532,38 6Section 38. Accy 3.01 of the administrative code is repealed.
SB532,39 7Section 39. Accy 3.02 of the administrative code is renumbered Accy 2.301 and
8amended to read:
SB532,18,12 9Accy 2.301 Examination. A candidate for a certified public accountant
10certificate shall successfully pass the certified public accountant examination set
11forth in s. Accy 3.03 2.302 and the professional ethics examination set forth in s. Accy
123.10 2.306.
SB532,40 13Section 40. Accy 3.03 of the administrative code is renumbered Accy 2.302,
14and Accy 2.302 (1), as renumbered, is amended to read:
SB532,18,2015 Accy 2.302 (1) The subjects covering the discipline of accounting in the certified
16public accountant examination shall be as provided in the 4 sections of the by the
17board of examiners of the American institute of certified public accountants uniform
18certified public accountant examination
Institute of Certified Public Accountants
19Uniform Certified Public Accountant Examination
. The passing grade on each
20section is 75 or higher.
SB532,41 21Section 41. Accy 3.03 (1) (Note) of the administrative code is repealed.
SB532,42 22Section 42. Accy 3.04 of the administrative code is renumbered Accy 2.303 and
23amended to read:
SB532,19,6 24Accy 2.303 Education required for examination . A candidate for the
25certified public accountant examination must possess a bachelor's or higher degree

1with a resident major in accounting, as defined in s. Accy 7.02 (3), or the reasonable
2equivalence of a resident major in accounting, as defined in s. Accy 7.03 (1), or
3reasonably expect to receive a degree with a resident major in accounting or its
4reasonable equivalence within 45 days following the date of examination
complete
5120 semester hours of education, including courses covering each of the subjects and
6the semester hours specified in s. Accy 2.202 (1) and (2)
.
SB532,43 7Section 43. Accy 3.05 (title) and (1) (intro.) and (a) of the administrative code
8are renumbered Accy 2.101 (title), (intro.) and (1), and Accy 2.101 (title) and (intro.),
9as renumbered, are amended to read:
SB532,19,14 10Accy 2.101 (title) Examination application Application. (intro.) A
11candidate for the certified public accountant examination applying for a certificate
12as a certified public accountant
shall apply on an application form provided by the
13board and file the application in the board office no later than 60 days prior to the
14examination date
. The application shall be supported by all of the following:
SB532,44 15Section 44. Accy 3.05 (1) (b) (intro.) and 1. of the administrative code are
16consolidated, renumbered Accy 2.101 (2) and amended to read:
SB532,19,2317 Accy 2.101 (2) Proof of fulfilling the educational requirements specified in s.
18Accy 2.202 and s. 442.04 (5), Stats.
, by submitting either: 1. Certified certified copies
19of transcripts for all academic work completed at an institution, as defined in s.
20442.04 (5) (a), Stats., at least one of which must reflect the award of a bachelor's or
21higher degree, if the candidate has graduated prior to filing the application and the
22completion of 150 semester hours, including in courses covering each of the subjects
23and the semester hours specified in s. Accy 2.202 (1) and (2)
.
SB532,45 24Section 45. Accy 3.05 (1) (b) 2. and 3. and (c), (2) and (3) of the administrative
25code are repealed.
SB532,46
1Section 46. Accy 3.05 (3) (Note) of the administrative code is repealed.
SB532,47 2Section 47. Accy 3.055 of the administrative code is repealed.
SB532,48 3Section 48. Accy 3.06 of the administrative code is renumbered Accy 2.304,
4and Accy 2.304 (title), (1), (3) and (4), as renumbered, are amended to read:
SB532,20,7 5Accy 2.304 (title) Examination Candidates for examination. (1) A
6candidate shall be allowed to sit for each section of the uniform certified public
7accountant examination individually and in any order.
SB532,20,10 8(3) A candidate must pass all 4 sections of the uniform certified public
9accountant examination within a rolling 18-month period which that begins on the
10date that the first section is passed.
SB532,20,14 11(4) If all 4 sections any section of the uniform certified public accountant
12examination are is not passed within the rolling 18-month period, credit for any
13section passed outside the 18-month period shall expire and that section shall be
14retaken.
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