Senate Bill sb2720c1

    Florida Senate - 2004                           CS for SB 2720

    By the Committee on Governmental Oversight and Productivity;
    and Senator Atwater




    302-2554-04

  1                      A bill to be entitled

  2         An act relating to public accountancy; amending

  3         s. 473.308, F.S.; authorizing waiver of certain

  4         requirements in excess of a baccalaureate

  5         degree for applicants for licensure as a

  6         certified public accountant who meet certain

  7         prior employment criteria; amending s. 473.311,

  8         F.S.; requiring completion of required

  9         continuing education in ethics prior to taking

10         the examination required for renewal of

11         license; amending s. 473.312, F.S.; requiring a

12         certain amount of continuing education to be in

13         ethics; providing course requirements and

14         requirements for course providers; providing an

15         effective date.

16  

17  Be It Enacted by the Legislature of the State of Florida:

18  

19         Section 1.  Subsection (4) of section 473.308, Florida

20  Statutes, is amended to read:

21         473.308  Licensure.--

22         (4)  If application for licensure is made prior to

23  October 1, 2008 2005, and the applicant has at least 5 years

24  of experience in the practice of public accountancy in the

25  United States or in the practice of public accountancy or its

26  equivalent in a foreign country that the International

27  Qualifications Appraisal Board of the National Association of

28  State Boards of Accountancy has determined has licensure

29  standards that are substantially equivalent to those in the

30  United States, or has at least 5 years of experience as an

31  auditor or accountant in the employment of a unit of federal,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                           CS for SB 2720
    302-2554-04




 1  state, or local government and that employment required the

 2  use of accounting skills as a substantial part of the

 3  applicant's duties and was under the supervision of a

 4  certified public accountant licensed by a state or territory

 5  of the United States, the board shall waive the requirements

 6  of s. 473.306(2)(b)2. that are in excess of a baccalaureate

 7  degree. All experience that is used as a basis for waiving the

 8  said requirements of s. 473.306(2)(b)2. must be while licensed

 9  experience outside this state. Furthermore, said experience

10  must be after licensure as a certified public accountant by

11  another state or territory of the United States or while

12  licensed after licensure in the practice of public accountancy

13  or its equivalent in a foreign country that the International

14  Qualifications Appraisal Board of the National Association of

15  State Boards of Accountancy has determined has licensure

16  standards that are substantially equivalent to those in the

17  United States. The board shall have the authority to establish

18  the standards for experience that meet this requirement.

19         Section 2.  Subsection (1) of section 473.311, Florida

20  Statutes, is amended to read:

21         473.311  Renewal of license.--

22         (1)  The department shall renew a license upon receipt

23  of the renewal application and fee and upon certification by

24  the board that the licensee has satisfactorily completed the

25  continuing education requirements of s. 473.312 and has passed

26  an examination approved by the board on chapter 455 and this

27  chapter and the related administrative rules. However, each

28  licensee must complete the requirements of s. 473.312(1)(c)

29  prior to taking the examination.

30         Section 3.  Subsection (1) of section 473.312, Florida

31  Statutes, is amended to read:

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                           CS for SB 2720
    302-2554-04




 1         473.312  Continuing education.--

 2         (1)(a)  As part of the license renewal procedure, the

 3  board shall by rule require licensees to submit proof

 4  satisfactory to the board that during the 2 years prior to

 5  application for renewal, they have successfully completed not

 6  less than 48 or more than 80 classroom hours of continuing

 7  professional education programs in public accounting subjects

 8  approved by the board. The board may prescribe by rule

 9  additional continuing professional education hours, not to

10  exceed 25 percent of the total hours required, for failure to

11  complete the hours required for renewal by the end of the

12  reestablishment period.

13         (b)  Not less than 25 percent of the total hours

14  required by the board shall be in accounting-related and

15  auditing-related subjects, as distinguished from federal and

16  local taxation matters and management services.

17         (c)  Not less than 5 percent of the total hours

18  required by the board shall be in ethics applicable to the

19  practice of public accounting. This requirement shall be

20  administered by providers approved by the board and shall

21  include a review of the provisions of chapter 455 and this

22  chapter and the related administrative rules.

23         Section 4.  This act shall take effect July 1, 2004.

24  

25          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
26                             SB 2720

27                                 

28  Clarifies that multiple providers are authorized under the
    bill to provide ethics courses.
29  

30  

31  

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CODING: Words stricken are deletions; words underlined are additions.