H 4568 Joint Resolution, By  House Labor, Commerce and Industry
 A Joint Resolution to approve regulations of the Board of Accountancy,
 relating to examinations, reciprocity certificates, fees, and accounting
 practitioners, designated as Regulation Document Number 1415, pursuant to the
 provisions of Article 1, Chapter 23, Title 1 of the 1976 Code.

   03/18/92  House  Introduced, read first time, placed on calendar
                     without reference HJ-18
   04/01/92  House  Debate adjourned until Wednesday, April 8, 1992 HJ-21
   04/08/92  House  Debate adjourned until Wednesday, April 15, 1992 HJ-15
   04/15/92  House  Tabled HJ-30

March 18, 1992

H. 4568

Introduced by Labor, Commerce and Industry Committee

S. Printed 3/18/92--H.

Read the first time March 18, 1992.

A JOINT RESOLUTION

TO APPROVE REGULATIONS OF THE BOARD OF ACCOUNTANCY, RELATING TO EXAMINATIONS, RECIPROCITY CERTIFICATES, FEES, AND ACCOUNTING PRACTITIONERS, DESIGNATED AS REGULATION DOCUMENT NUMBER 1415, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. The regulations of the Board of Accountancy, relating to examinations, reciprocity certificates, fees, and accounting practitioners, designated as Regulation Document Number 1415, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.

SECTION 2. This joint resolution takes effect upon approval by the Governor.

SUMMARY AS SUBMITTED BY PROMULGATING AGENCY.

The proposed amendments would reorganize the regulations so that all examination provisions are included in 1-5, all qualifications for examination in 1-6 and all experience requirements in 1-7. The amended regulations would implement changes in the format of the national Uniform CPA Examination which will be changed effective May 1994. The amended regulations would implement necessary changes in the educational requirements effective July 1997 because of amendment of statute Section 40-1-180. Regulations 1-9, 1-12, 1-18, 1-19 and 1-20 would be amended to make the regulations more clear and to include present Board policy in the regulations. Overall significant changes would delete the residency requirement, delete the requirement for a separate examination in professional ethics, delete the three year waiting period for persons who score less than 40% on the examination, delete the provision that allows a college senior in good standing to take the examination before receiving a degree and would require that a person who supervises the experience of a candidate be licensed to practice public accounting in the state where the experience was obtained instead of licensed in any state.