BILL NUMBER: SB 691	AMENDED
	BILL TEXT

	AMENDED IN SENATE  APRIL 13, 2009

INTRODUCED BY   Senator Yee
    (   Coauthors:   Senators  
Calderon   and Florez   ) 
   (Coauthors: Assembly Members Ma and Niello)

                        FEBRUARY 27, 2009

   An act to amend and repeal Section 5092 of, and to amend, repeal,
and add Sections 5082.3, 5082.4, 5090, and 5095 of, the Business and
Professions Code, relating to accountants.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 691, as amended, Yee. Accountants.
   Existing law provides for the licensure and regulation of
accountants by the California Board of Accountancy in the Department
of Consumer Affairs. Existing law requires an applicant for the
certified public accountant license to comply with education,
examination, and experience requirements under one of 2 provisions
that set forth different standards. Existing law, under the first
provision, requires completion of a baccalaureate or higher degree
conferred by a college or university with completion of at least 24
semester units in accounting and 24 semester units in business
related subjects, board exam passage, and 2 years of qualifying
experience. Existing law, under the 2nd provision, imposes the same
educational and examination requirements as the first provision, but
also requires proof of completion of at least 150 additional
 semester units, and instead accepts one year of qualifying
experience.
   On January 1,  2012   2014  , this bill
would delete the first provision described above, thereby requiring,
 on and  after January 1,  2012   2014
 , applicant compliance with the 2nd provision. The bill would
make conforming changes to related provisions.
   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.  Section 5082.3 of the Business and Professions Code is
amended to read:
   5082.3.  An applicant for a license as a certified public
accountant may be deemed by the board to have met the examination
requirements of Section 5082, 5092, or 5093 if the applicant
satisfies all of the following requirements:
   (a) The applicant is licensed or has comparable authority under
the laws of any country to engage in the practice of public
accountancy.
   (b) The International Qualifications Appraisal Board jointly
established by the National Association of State Boards of
Accountancy and the American Institute of Certified Public
Accountants has determined that the standards under which the
applicant was licensed or under which the applicant secured
comparable authority meet its standards for admission to the
International Uniform Certified Public Accountant Qualification
Examination.
   (c) The applicant has successfully passed the International
Uniform Certified Public Accountant Qualification Examination
referenced in subdivision (b).
   (d) This section shall remain in effect only until January 1,
 2012   2014  , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1,  2012   2014  , deletes or
extends that date.
  SEC. 2.  Section 5082.3 is added to the Business and Professions
Code, to read:
   5082.3.  An applicant for a license as a certified public
accountant may be deemed by the board to have met the examination
requirements of Section 5082 or 5093 if the applicant satisfies all
of the following requirements:
   (a) The applicant is licensed or has comparable authority under
the laws of any country to engage in the practice of public
accountancy.
   (b) The International Qualifications Appraisal Board jointly
established by the National Association of State Boards of
Accountancy and the American Institute of Certified Public
Accountants has determined that the standards under which the
applicant was licensed or under which the applicant secured
comparable authority meet its standards for admission to the
International Uniform Certified Public Accountant Qualification
Examination.
   (c) The applicant has successfully passed the International
Uniform Certified Public Accountant Qualification Examination
referenced in subdivision (b).
   (d) This section shall become operative on January 1, 
2012   2014  .
  SEC. 3.  Section 5082.4 of the Business and Professions Code is
amended to read:
   5082.4.  (a) A Canadian Chartered Accountant in good standing may
be deemed by the board to have met the examination requirements of
Section 5082, 5092, or 5093 if he or she has successfully passed the
Canadian Chartered Accountant Uniform Certified Public Accountant
Qualification Examination of the American Institute of Certified
Public Accountants or the International Uniform Certified Public
Accountant Qualification Examination referenced in subdivision (b)
Section 5082.3.
   (b) This section shall remain in effect only until January 1,
 2012   2014  , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1,  2012   2014  , deletes or
extends that date.
  SEC. 4.  Section 5082.4 is added to the Business and Professions
Code, to read:
   5082.4.  (a) A Canadian Chartered Accountant in good standing may
be deemed by the board to have met the examination requirements of
Section 5082 or 5093 if he or she has successfully passed the
Canadian Chartered Accountant Uniform Certified Public Accountant
Qualification Examination of the American Institute of Certified
Public Accountants or the International Uniform Certified Public
Accountant Qualification Examination referenced in subdivision (b)
Section 5082.3.
   (b) This section shall become operative on January 1, 
2012   2014  .
  SEC. 5.  Section 5090 of the Business and Professions Code is
amended to read:
   5090.  (a) An applicant for the certified public accountant
license shall comply with the education, examination, and experience
requirements in either Section 5092 or 5093.
   (b) Notwithstanding subdivision (a), an applicant who applied,
qualified, and sat for at least two subjects of the examination for
the certified public accountant license before May 15, 2002, may
complete the examination and qualify for licensure based on the
requirements in Sections 5081.1, 5082, 5082.2, 5083, 5084, and
applicable regulations adopted by the board that were in effect on
December 31, 2001, or comparable examination requirements adopted by
the board in the event the form or format of the examination changes,
provided the applicant qualifies and applies for licensure before
January 1, 2010.
   (c) This section shall remain in effect only until January 1,
 2012   2014  , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1,  2012   2014  , deletes or
extends that date.
  SEC. 6.  Section 5090 is added to the Business and Professions
Code, to read:
   5090.  (a) An applicant for the certified public accountant
license shall comply with the education, examination, and experience
requirements in Section 5093.
   (b) This section shall become operative on January 1, 
2012   2014  .
  SEC. 7.  Section 5092 of the Business and Professions Code is
amended to read:
   5092.  (a) To qualify for the certified public accountant license,
an applicant who is applying under this section shall meet the
education, examination, and experience requirements specified in
subdivisions (b), (c), and (d), or otherwise prescribed pursuant to
this article. The board may adopt regulations as necessary to
implement this section.
   (b) An applicant for the certified public accountant license shall
present satisfactory evidence that the applicant has completed a
baccalaureate or higher degree conferred by a college or university,
meeting, at a minimum, the standards described in Section 5094, the
total educational program to include a minimum of 24 semester units
in accounting subjects and 24 semester units in business related
subjects. This evidence shall be provided prior to admission to the
examination for the certified public accountant license, except that
an applicant who applied, qualified, and sat for at least two
subjects of the examination for the certified public accountant
license before May 15, 2002, may provide this evidence at the time of
application for licensure.
   (c) An applicant for the certified public accountant license shall
pass an examination prescribed by the board pursuant to this
article.
   (d) The applicant shall show, to the satisfaction of the board,
that the applicant has had two years of qualifying experience. This
experience may include providing any type of service or advice
involving the use of accounting, attest, compilation, management
advisory, financial advisory, tax, or consulting skills. To be
qualifying under this section, experience shall have been performed
in accordance with applicable professional standards. Experience in
public accounting shall be completed under the supervision or in the
employ of a person licensed or otherwise having comparable authority
under the laws of any state or country to engage in the practice of
public accountancy. Experience in private or governmental accounting
or auditing shall be completed under the supervision of an individual
licensed by a state to engage in the practice of public accountancy.

   (e) This section shall remain in effect only until January 1,
 2012   2014  , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1,  2012   2014  , deletes or
extends that date.
  SEC. 8.  Section 5095 of the Business and Professions Code, as
added by Section 20 of Chapter 704 of the Statutes of 2001, is
repealed.
  SEC. 9.  Section 5095 of the Business and Professions Code, as
added by Section 23 of Chapter 718 of the Statutes of 2001, is
amended to read:
   5095.  (a) To be authorized to sign reports on attest engagements,
a licensee shall complete a minimum of 500 hours of experience,
satisfactory to the board, in attest services.
   (b) To qualify under this section, attest experience shall have
been performed in accordance with applicable professional standards.
Experience in public accounting shall be completed under the
supervision or in the employ of a person licensed or otherwise having
comparable authority under the laws of any state or country to
engage in the practice of public accountancy and provide attest
services, and this experience shall be verified. Experience in
private or governmental accounting or auditing shall be completed
under the supervision of an individual licensed by a state to engage
in the practice of public accountancy and perform attest services,
and this experience shall be verified. An applicant may be required
to present work papers or other evidence substantiating that the
applicant has met the requirements of this section and any applicable
regulations.
   (c) An individual who qualified for licensure by meeting the
requirements of Section 5083 shall be deemed to have satisfied the
requirements of this section.
   (d) The board shall adopt regulations to implement this section,
including, but not limited to, a procedure for applicants under
Section 5092 or Section 5093 to qualify under this section.
   (e) This section shall remain in effect only until January 1,
 2012   2014  , and as of that date is
repealed, unless a later enacted statute, that is enacted before
January 1,  2012   2014  , deletes or
extends that date.
  SEC. 10.  Section 5095 is added to the Business and Professions
Code, to read:
   5095.  (a) To be authorized to sign reports on attest engagements,
a licensee shall complete a minimum of 500 hours of experience,
satisfactory to the board, in attest services.
   (b) To qualify under this section, attest experience shall have
been performed in accordance with applicable professional standards.
Experience in public accounting shall be completed under the
supervision or in the employ of a person licensed or otherwise having
comparable authority under the laws of any state or country to
engage in the practice of public accountancy and provide attest
services, and this experience shall be verified. Experience in
private or governmental accounting or auditing shall be completed
under the supervision of an individual licensed by a state to engage
in the practice of public accountancy and perform attest services,
and this experience shall be verified. An applicant may be required
to present work papers or other evidence substantiating that the
applicant has met the requirements of this section and any applicable
regulations.
   (c) An individual who qualified for licensure by meeting the
requirements of Section 5083 shall be deemed to have satisfied the
requirements of this section.
   (d) The board shall adopt regulations to implement this section,
including, but not limited to, a procedure for applicants under
Section 5093 to qualify under this section.
   (e) This section shall become operative on January 1, 
2012   2014  .