Bill Text: CA AB3251 | 2023-2024 | Regular Session | Amended
Bill Title: Accountancy.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2024-09-25 - Chaptered by Secretary of State - Chapter 586, Statutes of 2024. [AB3251 Detail]
Download: California-2023-AB3251-Amended.html
Amended
IN
Assembly
April 24, 2024 |
Introduced by Committee on Business and Professions |
February 16, 2024 |
LEGISLATIVE COUNSEL'S DIGEST
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee:Bill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 5000 of the Business and Professions Code is amended to read:5000.
(a) There is in the Department of Consumer Affairs the California Board of Accountancy, which consists of 15 members, 7 of whom shall be licensees, and 8 of whom shall be public members who shall not be licentiates of the board or registered by the board. The board has the powers and duties conferred by this chapter.SEC. 2.
Section 5015.6 of the Business and Professions Code is amended to read:5015.6.
The board may appoint a person exempt from civil service who shall be designated as an executive officer and who shall exercise the powers and perform the duties delegated by the board and vested in the executive officer by this chapter.SEC. 3.
Section 5018 of the Business and Professions Code is amended to read:5018.
The board may by regulation, prescribe, amend, or repeal rules of professional conduct appropriate to the establishment and maintenance of a high standard of integrity and dignity in the profession. In addition to the requirements contained in Chapter 4 (commencing with Section 11370) of Part 1 of Division 3 of Title 2 of the Government Code, a copy of the rules shall beSECTION 1.SEC. 4.
Section 5050 of the Business and Professions Code is amended to read:5050.
(a) Except as provided in subdivision (b) of this section, in subdivision (a) of Section 5054, and in Section 5096.12, no person shall engage in the practice of public accountancy in this state unless the person is the holder of a valid permit to practice public accountancy issued by the board or a holder of a practice privilege pursuant to Article 5.1 (commencing with Section 5096).SEC. 5.
Section 5062.3 is added to the Business and Professions Code, to read:5062.3.
For purposes of an enforcement action taken by the board, an accounting firm providing attestation services where none of the licensee owners of the firm have authority to sign reports on attest engagements, the licensee owners shall be held to the same level of responsibility as the licensee or licensees who performed the engagement.SEC. 6.
Section 5062.4 is added to the Business and Professions Code, to read:5062.4.
If a licensee is no longer employed with an accounting firm, the accounting firm shall make all working papers available to a licensee who signed a report on an attest engagement upon request by the board for purposes of conducting an investigation. The licensee shall return the working papers upon direction by the board and shall keep no copies.SEC. 7.
Section 5070.1 of the Business and Professions Code is amended to read:5070.1.
(a) The board may establish, by regulation, a system for the placement of a license into a retired status, upon application, for certified public accountants and public accountants who are not actively engaged in the practice of public accountancy or any activity that requires them to be licensed by the board.SEC. 8.
Section 5093 of the Business and Professions Code is amended to read:5093.
(a) To qualify for the certified public accountant license, an applicant who is applying under this section shall meet the education, examination, and experience requirements specified in subdivisions (b), (c), and (d), or otherwise prescribed pursuant to this article. The board may adopt regulations as necessary to implement this section.SEC. 9.
Section 5094 of the Business and Professions Code is amended to read:5094.
(a) In order for education to be qualifying, it shall meet the standards described in subdivision (b) or (c) of this section.SEC. 10.
Section 5096.21 of the Business and Professions Code is amended to read:5096.21.
(a) (1) On and after January 1, 2016, if the board determines, through a majority vote of the board at a regularly scheduled meeting, that allowing individuals from a particular state to practice in this state pursuant to a practice privilege as described in Section 5096, violates the board’s duty to protect the public, pursuant to Section 5000.1, the board shall require out-of-state individuals licensed from that state, as a condition to exercising a practice privilege in this state, to file the notification form and pay the applicable fees as required by Section 5096.22.(c)On or before July 1, 2014, the board shall convene a stakeholder group consisting of members of the board, board enforcement staff, and representatives of the accounting profession
and consumer representatives to consider whether the provisions of this article are consistent with the board’s duty to protect the public consistent with Section 5000.1, and whether the provisions of this article satisfy the objectives of stakeholders of the accounting profession in this state, including consumers. The group, at its first meeting, shall adopt policies and procedures relative to how it will conduct its business, including, but not limited to, policies and procedures addressing periodic reporting of its findings to the board. The group shall provide recommendations to the board on any matter upon which it is authorized to act.