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Session 126 - (2025-2026)Printer Friendly
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S*0176 (Rat #0052, Act #0034 of 2025) General Bill, By Climer
Summary: Certified Public Accountants
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 40-2-30, RELATING TO REQUIREMENTS FOR USE OF PROFESSIONAL DESIGNATIONS FOR CERTIFIED PUBLIC ACCOUNTANTS AND PUBLIC ACCOUNTS, SO AS TO APPLY THESE REQUIREMENTS TO USAGES IN ELECTRONIC FILES AND METADATA; BY AMENDING SECTION 40-2-35, RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY, SO AS TO REVISE THE EDUCATIONAL AND EXPERIENCE REQUIREMENTS, TO REVISE REQUIREMENTS CONCERNING THE UNIFORM CERTIFIED PUBLIC ACCOUNTANT EXAM REQUIREMENTS; BY AMENDING SECTION 40-2-40, RELATING TO ENTITIES REQUIRED TO REGISTER WITH THE BOARD TO PRACTICE AS CERTIFIED PUBLIC ACCOUNTING FIRMS, SO AS TO REQUIRE SUCH REGISTRATION OF FIRMS THAT PERFORM COMPILATION SERVICES, AND TO PROVIDE OWNERSHIP OF SUCH FIRMS MAY BE HELD THROUGH A REVOCABLE GRANTOR TRUST; BY AMENDING SECTION 40-2-70, RELATING TO POWERS AND DUTIES OF THE BOARD, SO AS TO ADD REVIEW AND PROVIDE INPUT ON PROPOSED LEGISLATIVE CHANGES RELATED TO THE PRACTICE OF ACCOUNTING AS A POWER OF THE BOARD; BY AMENDING SECTION 40-2-80, RELATING TO INVESTIGATIONS OF COMPLAINTS OR OTHER INFORMATION SUGGESTING VIOLATIONS, SO AS TO PROVIDE INSPECTOR-INVESTIGATORS MUST HAVE BEEN LICENSED AS CERTIFIED PUBLIC ACCOUNTANTS FOR AT LEAST THE PREVIOUS FIVE YEARS; BY AMENDING SECTION 40-2-240, RELATING TO REQUIREMENTS FOR PERSONS LICENSED IN OTHER JURISDICTIONS TO OBTAIN LICENSURE BY THE BOARD, SO AS TO PROVIDE RECIPROCITY LICENSURE REQUIREMENTS; BY AMENDING SECTION 40-2-245, RELATING TO REQUIREMENTS FOR PERSONS LICENSED IN OTHER JURISDICTIONS TO PRACTICE IN THIS STATE WITHOUT LICENSURE BY THE BOARD, SO AS TO REVISE THE REQUIREMENTS; AND BY REPEALING SECTION 40-2-20(18) RELATING TO DEFINITIONS CONCERNING THE BOARD OF ACCOUNTANCY, SECTION 40-2-35(H) RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY, AND SECTION 40-2-35(I) RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY. - RATIFIED TITLE
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Summary: Certified Public Accountants
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 40-2-30, RELATING TO REQUIREMENTS FOR USE OF PROFESSIONAL DESIGNATIONS FOR CERTIFIED PUBLIC ACCOUNTANTS AND PUBLIC ACCOUNTS, SO AS TO APPLY THESE REQUIREMENTS TO USAGES IN ELECTRONIC FILES AND METADATA; BY AMENDING SECTION 40-2-35, RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY, SO AS TO REVISE THE EDUCATIONAL AND EXPERIENCE REQUIREMENTS, TO REVISE REQUIREMENTS CONCERNING THE UNIFORM CERTIFIED PUBLIC ACCOUNTANT EXAM REQUIREMENTS; BY AMENDING SECTION 40-2-40, RELATING TO ENTITIES REQUIRED TO REGISTER WITH THE BOARD TO PRACTICE AS CERTIFIED PUBLIC ACCOUNTING FIRMS, SO AS TO REQUIRE SUCH REGISTRATION OF FIRMS THAT PERFORM COMPILATION SERVICES, AND TO PROVIDE OWNERSHIP OF SUCH FIRMS MAY BE HELD THROUGH A REVOCABLE GRANTOR TRUST; BY AMENDING SECTION 40-2-70, RELATING TO POWERS AND DUTIES OF THE BOARD, SO AS TO ADD REVIEW AND PROVIDE INPUT ON PROPOSED LEGISLATIVE CHANGES RELATED TO THE PRACTICE OF ACCOUNTING AS A POWER OF THE BOARD; BY AMENDING SECTION 40-2-80, RELATING TO INVESTIGATIONS OF COMPLAINTS OR OTHER INFORMATION SUGGESTING VIOLATIONS, SO AS TO PROVIDE INSPECTOR-INVESTIGATORS MUST HAVE BEEN LICENSED AS CERTIFIED PUBLIC ACCOUNTANTS FOR AT LEAST THE PREVIOUS FIVE YEARS; BY AMENDING SECTION 40-2-240, RELATING TO REQUIREMENTS FOR PERSONS LICENSED IN OTHER JURISDICTIONS TO OBTAIN LICENSURE BY THE BOARD, SO AS TO PROVIDE RECIPROCITY LICENSURE REQUIREMENTS; BY AMENDING SECTION 40-2-245, RELATING TO REQUIREMENTS FOR PERSONS LICENSED IN OTHER JURISDICTIONS TO PRACTICE IN THIS STATE WITHOUT LICENSURE BY THE BOARD, SO AS TO REVISE THE REQUIREMENTS; AND BY REPEALING SECTION 40-2-20(18) RELATING TO DEFINITIONS CONCERNING THE BOARD OF ACCOUNTANCY, SECTION 40-2-35(H) RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY, AND SECTION 40-2-35(I) RELATING TO REQUIREMENTS FOR LICENSURE BY THE BOARD OF ACCOUNTANCY. - RATIFIED TITLE
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| 01/14/25 | Senate | Introduced and read first time (Senate Journal-page 107) |
| 01/14/25 | Senate | Referred to Committee on Labor, Commerce and Industry (Senate Journal-page 107) |
| 02/26/25 | Senate | Committee report: Favorable with amendment Labor, Commerce and Industry (Senate Journal-page 12) |
| 03/05/25 | Scrivener's error corrected | |
| 03/11/25 | Senate | Committee Amendment Adopted (Senate Journal-page 18) |
| 03/11/25 | Senate | Amended (Senate Journal-page 18) |
| 03/11/25 | Senate | Roll call Ayes-41 Nays-0 (Senate Journal-page 18) |
| 03/12/25 | Scrivener's error corrected | |
| 03/12/25 | Senate | Read third time and sent to House (Senate Journal-page 10) |
| 03/20/25 | House | Introduced and read first time (House Journal-page 20) |
| 03/20/25 | House | Referred to Committee on Labor, Commerce and Industry (House Journal-page 20) |
| 04/01/25 | Scrivener's error corrected | |
| 04/09/25 | Scrivener's error corrected | |
| 04/30/25 | House | Committee report: Favorable with amendment Labor, Commerce and Industry (House Journal-page 11) |
| 05/01/25 | House | Amended (House Journal-page 106) |
| 05/01/25 | House | Read second time (House Journal-page 106) |
| 05/01/25 | House | Roll call Yeas-111 Nays-0 (House Journal-page 109) |
| 05/01/25 | House | Unanimous consent for third reading on next legislative day (House Journal-page 110) |
| 05/05/25 | Scrivener's error corrected | |
| 05/02/25 | House | Read third time and returned to Senate with amendments |
| 05/06/25 | Senate | Concurred in House amendment and enrolled (Senate Journal-page 102) |
| 05/08/25 | Ratified R 52 | |
| 05/12/25 | Signed By Governor | |
| 05/19/25 | Effective date 06/30/25 | |
| 05/19/25 | Act No. 34 |