Enrolled HB 242: Relating to licensing of certified public accountants; and providing for an effective date.
00Enrolled HB 242 01 Relating to licensing of certified public accountants; and providing for an effective date. 02 _______________ 03 * Section 1. AS 08.04.130 is amended to read: 04 Sec. 08.04.130. Examination. An applicant shall pass an [A WRITTEN] 05 examination in accounting and reporting, in auditing, and in other related subjects that 06 the board determines appropriate. The examination shall be designated in advance by 07 the board as the [AN] examination for the certificate of certified public accountant. 08 The board shall use the Uniform Certified Public Accountant Examination of the 09 American Institute of Certified Public Accountants [UNIFORM CERTIFIED 10 PUBLIC ACCOUNTANT EXAMINATION] and the institute's advisory grading 11 service, if available. The board shall, by regulation, establish what constitutes a 12 passing grade on the examination for purposes of licensure under AS 08.04.100 - 13 08.04.240.
01 * Sec. 2. AS 08.04.195(a) is amended to read: 02 (a) Notwithstanding AS 08.04.100 - 08.04.130, the board may issue a 03 certificate to an applicant who holds a certificate, or its equivalent, issued by another 04 jurisdiction if the applicant 05 (1) passed the Uniform Certified Public Accountant Examination 06 of the American Institute of Certified Public Accountants [UNIFORM 07 CERTIFIED PUBLIC ACCOUNTANT EXAMINATION GIVEN BY THE OTHER 08 JURISDICTION] in order to receive the applicant's initial certificate from the 09 jurisdiction; 10 (2) has five years of experience outside the state in the practice of 11 public accounting or meets equivalent requirements established by the board by 12 regulation; the five years must occur after the applicant passes the examination 13 required in (1) of this subsection and within the 10 years immediately preceding the 14 applicant's application under this chapter; 15 (3) is not the subject of review procedures, disciplinary proceedings, or 16 unresolved complaints related to the applicant's certificate from another jurisdiction; 17 and 18 (4) is of good moral character. 19 * Sec. 3. AS 08.04.140, 08.04.160, and 08.04.170 are repealed. 20 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 21 read: 22 TRANSITIONAL PROVISION. Notwithstanding the provisions of this Act, an 23 applicant who, on or after May 1, 1999, and before the effective date of this Act, took the 24 examination required under AS 08.04.130 and received a passing grade in at least two 25 subjects of the examination, may choose to be reexamined in only the subjects not yet passed, 26 subject to the conditions of this section. The applicant may only sit for the remaining subjects 27 not yet passed (1) for the number of opportunities the applicant had remaining on the day 28 before the effective date of this Act; or (2) during a time period determined by the number of 29 opportunities the applicant had remaining on the day before the effective date of this Act 30 multiplied by six months, whichever is first exhausted. If an applicant does not pass all 31 remaining test sections under the conditions determined under (1) or (2) of this section, the
01 credits for passing grades received between April 30, 1999, and the effective date of this Act 02 expire. The board may, by regulation, determine what credit will be given for a subject 03 passed by an applicant on or after the effective date of this Act and before the expiration of 04 the opportunity for reexamination afforded under (1) and (2) of this section. 05 * Sec. 5. This Act takes effect January 1, 2004.