GENERAL ASSEMBLY OF NORTH CAROLINA

1997 SESSION

 

 

S.L. 1997-284

SENATE BILL 668

 

 

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c.         Repealed by Session Laws 1991, c. 214, s. 1, effective January 1, 1997.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