Section 1 [Attest] adds audits performed under the Government Auditing Standards (GAS) to the list of work that is defined as “attest.” The term “attest” is used throughout the Board of Accountancy chapter, such as in defining services that may be performed only under a license issued by the Board of Accountancy.
Section 2 [Program of Learning] makes conforming changes and modifies the list of activities that may be performed by licensees who are exempt from certain learning requirements.
Section 3 [Fee] eliminates a fee to apply to take the CPA examination.
Section 4 [Retired Status] establishes a “retired status” for retired public accountants. The board must grant “retired status” to a person who is 55 or older, holds a current or active license, or is exempt from licensing, and declares that he or she is retired. A person with retired status may not engage in the practice of public accounting. This section requires the board to issue a certificate for a person on retired status who meets certain criteria and lists labels that a person on retired status may use. A person on retired status is not required to meet continuing education requirements nor required to renew their registration. A person may change their retired status to active or inactive by meeting existing license reactivation requirements.
Section 5 [Cease and Desist Orders] changes the permitted methods for the board to serve a cease and desist order.
Section 6. [Actions Against Persons or Firms] changes the permitted methods for the board to serve an order relating to a license application or license.
Section 7 [Actions Against Lapsed License, Certificate, or Permit] extends to two years the time that the board has to revoke or suspend a license or impose a civil penalty after a person or firm’s permit, registration, practice privileges, license, certificate, or similar authority lapses, expires, is surrendered, withdrawn, terminated, canceled, limited, not renewed, or otherwise become invalid.
Section 8 [Unlawful Acts] changes a reference to the American Institute of Certified Public Accountants Code of Professional Conduct, to refer to the version of the code that has been incorporated into board rules. This section also eliminates a restriction on forms for certain reports that are unlawful when issued without a license.
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