Bill No.: HB0021                  Drafter:  KMS

 

LSO No.:  05LSO-0066              Effective Date:  7/1/2005

 

Enrolled Act No.:  HEA0005

 

Chapter No.:       1

 

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

 

Catch Title:       Certified public accountants.

 

Subject:  Amends the certified public accountant's act.

 

 

Summary/Major Elements:

    

·        This bill:

 

·        Relates to certified public accountants and provides for modifications to the practice of public accounting.

·        Amends language from "licensed" to "certified".

·        Provides for conforming definitions.

·        Increase members on Board of Certified Public Accountants from three (3) CPA's to four (4)(One member is not required to be a CPA).   Provides for salary the same as state legislators, per diem and mileage are the same as state employees.

·        Allows for certification by educational and experience requirements.

·        Provides application procedures for active and retired CPA's, and for renewal of certificates. 

·        Allows for certified public accountant firms to practice in any form of organization allowed by the state, conforming language from "partnership or corporation" to "organization".

·        Provides for language to be presented when representing oneself as a CPA, or when representing oneself as a public accountant who is not certified.

·        Provides for various levels of CPA audits, and for related disclosure statements.

·        Modifies licensing fees.