| 1 | A bill to be entitled |
| 2 | An act relating to public accountancy; amending s. |
| 3 | 473.308, F.S.; authorizing waiver of certain requirements |
| 4 | in excess of a baccalaureate degree for applicants for |
| 5 | licensure as a certified public accountant who meet |
| 6 | certain prior employment criteria; amending s. 473.311, |
| 7 | F.S.; requiring completion of required continuing |
| 8 | education in ethics prior to taking the examination |
| 9 | required for renewal of license; amending s. 473.312, |
| 10 | F.S.; requiring a certain amount of continuing education |
| 11 | to be in ethics; providing course requirements and |
| 12 | requirements for course providers; providing an effective |
| 13 | date. |
| 14 |
|
| 15 | Be It Enacted by the Legislature of the State of Florida: |
| 16 |
|
| 17 | Section 1. Subsection (4) of section 473.308, Florida |
| 18 | Statutes, is amended to read: |
| 19 | 473.308 Licensure.-- |
| 20 | (4) If application for licensure is made prior to October |
| 21 | 1, 2008 2005, and the applicant has at least 5 years of |
| 22 | experience in the practice of public accountancy in the United |
| 23 | States or in the practice of public accountancy or its |
| 24 | equivalent in a foreign country that the International |
| 25 | Qualifications Appraisal Board of the National Association of |
| 26 | State Boards of Accountancy has determined has licensure |
| 27 | standards that are substantially equivalent to those in the |
| 28 | United States, or has at least 5 years of experience as an |
| 29 | auditor or accountant in the employment of a unit of federal, |
| 30 | state, or local government and that employment required the use |
| 31 | of accounting skills as a substantial part of the applicant's |
| 32 | duties and was under the supervision of a certified public |
| 33 | accountant licensed by a state or territory of the United |
| 34 | States, the board shall waive the requirements of s. |
| 35 | 473.306(2)(b)2. that are in excess of a baccalaureate degree. |
| 36 | All experience that is used as a basis for waiving the said |
| 37 | requirements of s. 473.306(2)(b)2. must be while licensed |
| 38 | experience outside this state. Furthermore, said experience must |
| 39 | be after licensure as a certified public accountant by another |
| 40 | state or territory of the United States or while licensed after |
| 41 | licensure in the practice of public accountancy or its |
| 42 | equivalent in a foreign country that the International |
| 43 | Qualifications Appraisal Board of the National Association of |
| 44 | State Boards of Accountancy has determined has licensure |
| 45 | standards that are substantially equivalent to those in the |
| 46 | United States. The board shall have the authority to establish |
| 47 | the standards for experience that meet this requirement. |
| 48 | Section 2. Subsection (1) of section 473.311, Florida |
| 49 | Statutes, is amended to read: |
| 50 | 473.311 Renewal of license.-- |
| 51 | (1) The department shall renew a license upon receipt of |
| 52 | the renewal application and fee and upon certification by the |
| 53 | board that the licensee has satisfactorily completed the |
| 54 | continuing education requirements of s. 473.312 and has passed |
| 55 | an examination approved by the board on chapter 455 and this |
| 56 | chapter and the related administrative rules. However, each |
| 57 | licensee must complete the requirements of s. 473.312(1)(c) |
| 58 | prior to taking the examination. |
| 59 | Section 3. Subsection (1) of section 473.312, Florida |
| 60 | Statutes, is amended to read: |
| 61 | 473.312 Continuing education.-- |
| 62 | (1)(a) As part of the license renewal procedure, the board |
| 63 | shall by rule require licensees to submit proof satisfactory to |
| 64 | the board that during the 2 years prior to application for |
| 65 | renewal, they have successfully completed not less than 48 or |
| 66 | more than 80 classroom hours of continuing professional |
| 67 | education programs in public accounting subjects approved by the |
| 68 | board. The board may prescribe by rule additional continuing |
| 69 | professional education hours, not to exceed 25 percent of the |
| 70 | total hours required, for failure to complete the hours required |
| 71 | for renewal by the end of the reestablishment period. |
| 72 | (b) Not less than 25 percent of the total hours required |
| 73 | by the board shall be in accounting-related and auditing-related |
| 74 | subjects, as distinguished from federal and local taxation |
| 75 | matters and management services. |
| 76 | (c) Not less than 5 percent of the total hours required by |
| 77 | the board shall be in ethics applicable to the practice of |
| 78 | public accounting. This requirement shall be administered by a |
| 79 | provider approved by the board and shall include a review of the |
| 80 | provisions of chapter 455 and this chapter and the related |
| 81 | administrative rules. |
| 82 | Section 4. This act shall take effect July 1, 2004. |