OK
Oklahoma Senate Bill SB171

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB171 Compare Versions

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4-An Act
5-ENROLLED SENATE
29+HOUSE OF REPRESENTATIVES - FLOOR VERSION
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31+STATE OF OKLAHOMA
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33+1st Session of the 59th Legislature (2023)
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35+ENGROSSED SENATE
636 BILL NO. 171 By: Dugger of the Senate
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838 and
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1040 Kendrix of the House
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1545 An Act relating to accounting; amending 59 O.S. 2021,
1646 Section 15.8, as amended by Sect ion 3, Chapter 26,
1747 O.S.L. 2022 (59 O.S. Supp. 2022, Section 15.8), which
1848 relates to qualifications for application; decreasing
1949 required semester hours for certificat ion; removing
2050 requirement for elective hours; amending 59 O.S.
2151 2021, Section 15.9, as amended by Section 4, Chapter
2252 26, O.S.L. 2022 (59 O.S. Supp. 2022, Section 15.9),
2353 which relates to grant of certificate or license;
2454 allowing the issuance of a certificate to an
2555 applicant under certain educational requirements;
2656 specifying educational requirements; updating
2757 statutory language; and providing an effective date.
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33-SUBJECT: Accountancy qualifications
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3563 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHO MA:
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3764 SECTION 1. AMENDATORY 59 O.S. 2021, Section 15.8, as
3865 amended by Section 3, Chapt er 26, O.S.L. 2022 (59 O.S. Supp. 2022,
3966 Section 15.8), is amended to read as follows:
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4167 Section 15.8. A. A qualification applicant to qualify as a
4268 candidate for examination shall file an application for
4369 qualification in a format ap proved by the Oklahoma Accountancy
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4497 Board. The fee for the qualification application sh all be
4598 determined by the Board and shall not exceed Three Hundred Dolla rs
4699 ($300.00). Every qualification applicant to qualify as a candidate
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49100 for the certificate of cert ified public accountant shall submit to a
50101 national criminal history record search, m ust be a resident of this
51102 state immediately prior to making application and, except as
52103 otherwise provided in this section, shall meet the ed ucation and
53104 experience requirements pr ovided in this section. The costs
54105 associated with the national criminal histo ry records search shall
55106 be paid by the applicant.
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57107 B. On or after July 1, 2003 the effective date of this act,
58108 every qualification applicant to qualify as a candidate for
59109 examination for the certificate of certified public accountant shall
60110 have at least one hundred fifty (150) one hundred twenty (120)
61111 semester hours, or the equivalent thereo f, of college education
62112 including a baccalau reate or higher degree, or the equivalent
63113 thereof, conferred by a college or university acceptable to the
64114 Board from an accred ited four-year college or university in this
65115 state or any other accredited four -year college or university
66116 recognized by the Board. A minimum of seventy -six (76) semester
67117 hours must be earned at the upper-division level of college or above
68118 or the equivalent thereof as determined by the Board; this education
69119 requirement shall have been comp leted prior to submitting an
70120 application to the Board; the The total educational program of the
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71148 applicant for examination shall include an accounting concentration
72149 or its equivalent as determined ac ceptable by the Board which shall
73150 include not less than thirty (30) twenty-four (24) semester hours,
74151 or the equivalent thereof, in accounting courses above principles of
75152 accounting or introductory accounting, with at least one cou rse in
76153 auditing or assurance; the remaining accounting courses s hall be
77154 selected from financial accounting, ac counting theory,
78155 cost/managerial accounting, federal income tax, governmental, not-
79156 for-profit accounting, accounting information systems, accounti ng
80157 history and other accounting electives; at least nine (9) sem ester
81158 hours shall be from any or all of the su bjects of economics,
82159 statistics, business law, finance, business management, marketing,
83160 business communication, risk management, insurance, manage ment
84161 information systems, or computer science at the upper-division level
85162 of college or above or the equivalen t of such subjects as det ermined
86163 by the Board; all the remaining semester hours, if any, shall be
87164 elective but shall be at the upper-division level of college or
88165 above.
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92166 C. The costs associated with the national criminal history
93167 record check shall be pa id by the applicant.
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95168 SECTION 2. AMENDATORY 59 O.S. 2021, Section 15.9, as
96169 amended by Section 4, Chapter 26, O.S.L. 2022 (59 O.S. Supp. 2022,
97170 Section 15.9), is amended to read as follows:
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98197
99198 Section 15.9. A. Upon payment of appropriate fees, the
100199 Oklahoma Accountancy B oard shall grant a certificate to any
101200 individual of good character who meets the applicable education,
102201 experience and testing requirements provided for in this section and
103202 in Sections 15.8 and 15.10 of this title. For purposes of this
104203 subsection, good character means an individual who does not have a
105204 history of dishonest acts as demonstrated by documented ev idence and
106205 has not been convicted, pled guilty, or pled nolo contendere to a
107206 felony charge. The Board may refuse to grant a certificate to an
108207 applicant for failure to satisfy th e requirement of good character.
109208 The Board shall provi de to the denied applicant written notification
110209 specifying grounds for denial of a certificate including failure to
111210 meet the good character c riterion. Appeal of the action of the
112211 Board may be made in accordance with the provisions of the
113212 Administrative Procedures Act.
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115213 B. The Board shall issue certificates as c ertified public
116214 accountants to those applicants who have met the qualifications
117215 required by the provisions of the Oklahoma Accountanc y Act and the
118216 applicable rules of the Board, and have passed an ex amination in
119217 accounting, auditing and related subjects as the Board determines
120218 appropriate with such grades that satisfy the Board that each
121219 applicant is competent to practice as a certified public accountant.
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123247 C. The Board may make use of all o r any part of the Uniform
124248 Certified Public Accountant’s Accountant Examination and any
125249 organization that assists in providing the examination.
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127250 D. An applicant for initial issuance of a certificate pursuant
128251 to this section shal l show that the applicant has at least o ne
129252 hundred fifty (150) semester hours, or the equivalent thereof, of
130253 college education including a baccalaureate or higher degree, or the
131254 equivalent thereof, conferred by a college or university acceptable
132255 to the Board from an accredited four-year college or university in
133256 this state or any other accredited four-year college or university
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136257 recognized by the Board. Of the one hundred fifty (150) semester
137258 hours, not less than thirty (3 0) semester hours, or the equivalent
138259 thereof, shall be in accounting courses above principles of
139260 accounting or introdu ctory accounting. These education requirements
140261 shall have been completed pr ior to submitting an application to the
141262 Board and within the time frame outline d in this section. A
142263 qualified applicant may take the cert ified public accountant
143264 examination as allowed in Section 15.8 of this title but shall not
144265 be issued a certificate until the education requirements pursuant to
145266 this section and Section 15.8 of this title ha ve been met.
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147267 E. An applicant for initial issuance of a certificate under
148268 this section shall show that the applicant has had one (1) year of
149269 experience. Experience shall be d efined by the Board by rule a nd
150270 shall include providing a type of s ervice or advice involving the
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151298 use of accounting, attest, compil ation, management advisory,
152299 financial advisory, tax or consulting skills, and be satisfied
153300 through work experience in governm ent, industry, academia or pu blic
154301 practice, all of which shall be v erified by a certificate or license
155302 holder or an individual appr oved by the Board. Upon completion of
156303 the requirements of Section 15.8 of this title, a qualified
157304 applicant for the examinat ion may take the certified pu blic
158305 accountant or public accountant e xamination prior to earning the
159306 experience required in this subs ection, but shall not be issued a
160307 certificate until the experience requirement has been met.
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162308 E. F. Every applicant for the certificate of certified public
163309 accountant shall provide evidence of successful completion o f an
164310 ethics examination prescribed by th e Board.
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166311 F. G. Every applicant for the ce rtificate of certified public
167312 accountant shall submit to a national criminal history record check.
168313 The costs associated with the natio nal criminal history record check
169314 shall be paid by the applicant.
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171315 G. H. An individual applying for a certi ficate as a certified
172316 public accountant must make application for the certificate within
173317 five (5) years of the date the Board notifies the candidate tha t the
174318 candidate has successfully pas sed all sections of the C.P.A.
175319 Examination. If the candidate fails to make application for the
176320 certificate within five (5) years, the candidate must provide
177321 documentation showing he or she has completed at least one hun dred
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180349 twenty (120) hours of qualifyin g continuing public accountancy
181350 education completed within the three -year period immediately
182351 preceding the date the individual applies for certification. The
183352 Board shall establish rules whereby time limits set for appli cation
184353 pursuant to this provision ma y, upon written application to the
185354 Board, be waived or reduced if th e candidate is called to active
186355 military service or becomes incapacitated as a result of illness or
187356 injury or for such other good causes as determined b y the Board on a
188357 case-by-case basis.
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190358 SECTION 3. This act shall become effective November 1, 2023.
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194-Passed the Senate the 13th day of March, 2023.
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198- Presiding Officer of the Senate
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201-Passed the House of Representatives the 17th day of April, 2023.
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205- Presiding Officer of the House
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208-OFFICE OF THE GOVERNOR
209-Received by the Office of the Governor this ____________________
210-day of _________________ __, 20_______, at _______ o'clock _______ M.
211-By: _______________________________ __
212-Approved by the Governor of the State of Oklahoma this _____ ____
213-day of _________________ __, 20_______, at _______ o'c lock _______ M.
214-
215- _________________________________
216- Governor of the State of Oklahoma
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219-OFFICE OF THE SECRETARY OF STATE
220-Received by the Office of the Secretary of State this _______ ___
221-day of __________________, 20 _______, at _______ o'clock _______ M.
222-By: _______________________________ __
360+COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND COMMERCE, dated
361+04/05/2023 - DO PASS.