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S.F. No. 86 - Accountancy Board Provisions Modifications (The Second Engrossment)
 
Author: Senator Ann H. Rest
 
Prepared By: Stephanie James, Senate Counsel (651/296-0103)
 
Date: March 18, 2013



 

Section 1 [Timing] changes the time period for renewal of certificates for certified public accountants issued by the state Board of Accountancy.  Under current law, certificates may have a term up to three years; this section requires that certificates be issued annually.  This section is effective January 1, 2014.

Section 2 [Residents of other states] deletes obsolete requirements for applications for certificates for certified public accountants made prior to July 1, 2006. 

Section 3 [Fee] requires the board to annually establish a fee schedule and sets caps on a variety of fees set by the Board of Accountancy.

Section 4 [Certificates issued by foreign countries] deletes obsolete provisions for applications made prior to July 1, 2006.

Section 5 [Unlawful acts] allows a CPA firm to use part of a common brand name or network name, including common initials, if the firm is a network firm, as defined in its code of professional conduct, and if the firm follows applicable industry standards when offering services that require independence under industry standards.

Section 6 [Repealer] repeals obsolete statutes applicable to examinations and certifications prior to July 1, 2006, and repeals a section of rules that sets fees, a section of rules that is obsolete because it relates to a three-year renewal cycle, and a section of rules that is obsolete because it applies to certifications prior to July 1, 2006.

SJJ/rdr

 

 
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