Administrative Rule Review Report #AR09-040
Legislative Service Office
09-Jul-09
AGENCY: Board of Certified Public Accountants.
DATE SUBMITTED: July 9, 2009
SUBJECT: Chapter 1, General Provisions; Chapter 2, Examination; Chapter 3, Certificates; Chapter 4, Permits; Chapter 5, CPE; Chapter 6, Rules of Professional Conduct; Chapter 7, Rules of Practice and Procedure; Chapter 9, Peer Review; and Chapter 10, Practice Privileges.
NATURE OF RULES: Procedural and legislative.
STATUTORY AUTHORITY: W.S. 33-3-108
DETERMINATION OF PROCEDURAL COMPLIANCE BASED UPON INFORMATION SUBMITTED BY THE AGENCY TO LSO: Apparently complete to date. Notice of the proposed adoption of new rules was provided by LSO as required by W.S. 28-9-103(d). No comments were received. The Board received no written comments in response to its notice of new rules. The Board did receive public comment at a public meeting on July 6, 2009. No requests for changes to the proposed rules were received at that meeting, but the Board did orally clarify several provisions of the proposed rules to those in attendance.
SUMMARY OF RULES:
These rules are adopted in response to changes made to the Certified Public Accountant's Act of 2005, W.S. 33-3-101 through 33-3-132, during the 2009 legislative session.
Chapter 1 is amended to modify the definitions of "certified public accountant," "practice," "office," "practice privilege," "foreign" and "sole proprietorship." Chapter 1 also is amended to specify who must be permitted, to specify who must register, to specify what happens when a certificate is surrendered and to specify who can practice in Wyoming without a license and without paying fees. New fee provisions also are adopted which increase the fees by approximately 20%. Chapter 2 is amended to specify when an applicant must file an examination application, to clarify who qualifies for the examination as a resident or employee and to clarify when passing credit is awarded. Various fees also are modified within Chapter 2. Chapter 3 is amended to allow education in lieu of experience, to guide out of state services, to clarify when a person must maintain a Wyoming certificate, to allow renewal by e-mail, to allow a waiver of the first late fee and to create a new section regulating transition persons who currently hold certificates. Amendments to Chapter 4 outline the process used to comply with W.S. 33-3-118, regarding when a CPA firm must obtain a permit. The amendments specify which firms must obtain licenses and which may use practice privileges. The amendments stipulate that firms that elect to retain a permit in lieu of utilizing practice privileges are subject to all requirements of the law. Amendments to Chapter 5 guide non-resident certificate holders, require reporting of changes in courses previously reported, guide documentation requirements for non-degree certificate programs, set deadlines to comply with CPE requirements and establish penalties for a failure to comply with the rules. Chapter 6 is amended to clarify to whom the rules of professional conduct apply, update references to recently issued authoritative professional standards and clarify language. Chapter 7 is amended to clarify who is included in the term "registrant," to clarify the Board's ability to take disciplinary action and to allow the sharing of investigation information with law enforcement and accountancy boards. Chapter 9 amends the peer review program to reflect changes adopted by the American Institute of Certified Public Accountants and amends how non-resident firms may be required to comply with peer review requirements. Finally, Chapter 10 is created to prescribe rules governing the determination of substantial equivalency and to designate those qualified to make substantial equivalence determinations. Chapter 10 guides who may have practice privileges in Wyoming.
FINDINGS: The rules appear to be within the scope of statutory authority and legislative intent.
STAFF RECOMMENDATION: That the rules be placed on the Consent List and be approved by the Council as submitted by the Agency.
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Ian Shaw
Staff Attorney
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Lynda G. Cook
Staff Attorney
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