BILL NUMBER: AB 1005	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Block

                        FEBRUARY 27, 2009

   An act to add Sections 5017.5 and 5103.5 to the Business and
Professions Code, relating to accountants.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1005, as introduced, Block. California Board of Accountancy.
   Existing law provides for the licensure and regulation of
accountants by the California Board of Accountancy. Existing law sets
forth the duties of the board in that regard, and requires all board
meetings to be open and public. Existing law authorizes the board to
receive and investigate complaints against an accountant licensee or
any person acting as an accountant without a license.
   This bill would require the board to broadcast, live, each of its
board meetings from its Internet Web site. The bill would also
require the board to post on its Internet Web site notice of any
formal accusation filed by the board against a licensee. The bill
would make specified findings and declarations.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  The Legislature finds and declares all of the
following:
   (a) The Enron, WorldCom, Tyco, and similar stock scandals, the
subprime mortgage scandal, and the Madoff scandal have cost Americans
and California consumers, nonprofits, and businesses billions of
dollars of lost wealth.
   (b) In each scandal, accountants and accounting firms have played
a key role in facilitating these frauds.
   (c) Despite the hundreds of millions in settlements paid by
accounting firms as a result of these and similar scandals, the
amount of wealth lost and damage done to pensions, savings, and
investment capital has not and never will be recovered.
   (d) Accountants are not regulated nationally, and only the states
can prevent a person from acting as a certified public accountant.
The most vigorous regulation of the profession in California is
required to help ensure that future Californians will not be harmed
by similar scandals.
   (e) Therefore, to ensure that the regulation of accountants is
transparent and that the California Board of Accountancy is held
accountable to the public, it is necessary to enact the provisions of
this act.
  SEC. 2.  Section 5017.5 is added to the Business and Professions
Code, to read:
   5017.5.  The board shall provide a live broadcast of each of its
board meetings from its Internet Web site.
  SEC. 3.  Section 5103.5 is added to the Business and Professions
Code, to read:
   5103.5.  The board shall post on its Internet Web site notice of
all formal accusations filed by the board against a licensee.