GENERAL ASSEMBLY OF NORTH CAROLINA
1997 SESSION
S.L. 1997-284
AN ACT TO AMEND THE EDUCATION REQUIREMENTS FOR CERTIFIED PUBLIC ACCOUNTANTS.
The General Assembly of North Carolina enacts:
Section 1. G.S. 93-12(5) reads as rewritten:
"(5) To issue certificates
of qualification admitting to practice as certified public accountants, each
applicant who, having the qualifications herein specified, shall have has
passed an examination to the satisfaction of the Board, in 'accounting,'
'auditing,' 'business law,' and other related subjects.
A person is eligible to take the examination given by the Board, or to receive
a certificate of qualification to practice as a certified public accountant, who
if the person is a citizen of the United States, has declared the
intention of becoming a citizen, is a resident alien, or is a citizen of a
foreign jurisdiction which extends to citizens of this State like or similar
privileges to be examined or certified, is 18 years of age or over, and is
of good moral character, and submits evidence satisfactory to the Board
that: character.
a. He
holds a bachelor's degree from a college or university accredited by one of the
regional accrediting associations or from a college or university determined by
the Board to have standards substantially equivalent to a regionally accredited
institution, and
b. His
degree studies included a concentration in accounting as defined by the Board
or that he supplemented his degree studies with courses that the Board
determines to be substantially equivalent to a concentration in accounting.
c. Repealed
by Session Laws 1991, c. 214, s. 1, effective January 1, 1997.
To be eligible to take the examination given by the Board, a person shall submit evidence satisfactory to the Board that the person holds a bachelors degree from a college or university that is accredited by one of the regional accrediting associations or from a college or university determined by the Board to have standards that are substantially equivalent to a regionally accredited institution. The degree studies shall include a concentration in accounting as prescribed by the Board or shall be supplemented with courses that are determined by the Board to be substantially equivalent to a concentration in accounting.
Provided,
however, the The Board may, in its discretion, waive the education
requirement of any candidate if the Board is satisfied from the result of a
special written examination given the candidate by the Board to test his the
candidate's educational qualifications that he the candidate is
as well qualified as if he the candidate met the education
requirements specified above. The Board may provide by regulation for the
general scope of such examinations and may obtain such advice and assistance as
it deems appropriate to assist it in preparing, administering and grading such
special examinations.
To be eligible to receive a certificate of qualification to practice as a certified public accountant, a person shall submit evidence satisfactory to the Board that:
a. The person has completed 150 semester hours and received a bachelors degree with a concentration in accounting and other courses that the Board may require from a college or university that is accredited by a regional accrediting association or from a college or university determined by the Board to have standards that are substantially equivalent to those of a regionally accredited institution.
b. Such
applicant, in addition to passing the examination given by the Board, shall
have The person has the endorsement as to his the person's
eligibility of three certified public accountants who currently hold licenses
in any state or territory of the United States or the District of Columbia
and shall have had either: Columbia.
c. The person has one of the following:
a.1. Two years One
year's experience in the field of accounting under the direct supervision
of a certified public accountant who currently holds a valid license in any
state or territory of the United States or the District of Columbia, or Columbia.
b.2. Five Four
years of experience teaching accounting in a four-year college or university
accredited by one of the regional accrediting associations or in a college or
university determined by the Board to have standards substantially equivalent
to a regionally accredited institution; or institution.
c.3. Five Four
years of experience in the field of accounting; accounting.
4. or
five Four years of experience teaching college transfer
accounting courses at a community college or technical institute accredited by
one of the regional accrediting associations; or associations.
d.5. Any
combination of such experience determined by the Board to be substantially
equivalent to the foregoing.
A Master's or more advanced degree
in accounting, tax law, economics, business administration, or the equivalent thereof,
or a law degree with emphasis in taxation or accounting from an accredited
college or university may be substituted for one year of experience. The
Board may permit persons otherwise eligible to take its examinations and
withhold certificates until such the person shall have has
had the required experience."
Section 2. This act is effective when it becomes law and applies to applications for certificates of qualification received after December 31, 2000.
In the General Assembly read three times and ratified this the 1st day of July, 1997.
s/ Dennis A. Wicker
President of the Senate
s/ Harold J. Brubaker
Speaker of the House of Representatives
s/ James B. Hunt, Jr.
Governor
Approved 11:52 a.m. this 10th day of July, 1997