Bill Text: CA AB3251 | 2023-2024 | Regular Session | Amended
Bill Title: Accountancy.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed) 2024-08-05 - In committee: Referred to suspense file. [AB3251 Detail]
Download: California-2023-AB3251-Amended.html
Amended
IN
Senate
June 25, 2024 |
Amended
IN
Assembly
April 24, 2024 |
Introduced by (Principal coauthor: Senator Ashby) |
February 16, 2024 |
LEGISLATIVE COUNSEL'S DIGEST
The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that no reimbursement is required by this act for a specified reason.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: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 be provided to every holder of a license under this chapter at least 30 days prior to a date named for a public hearing held for the purpose of receiving and considering objections to any of the proposed provisions. Every licensee of the California Board of Accountancy in this state shall be governed and controlled by the rules and standards adopted by the board.SEC. 4.
Section 5035.3 of the Business and Professions Code is amended to read:5035.3.
For purposes ofSEC. 4.SEC. 5.
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. 6.
Section 5050.2 of the Business and Professions Code is amended to read:5050.2.
(a) The board may revoke, suspend, issue a fine pursuant to Article 6.5 (commencing with Section 5116), or otherwise restrict or discipline the holder of an authorization to practice under subdivision (b)SEC. 5.SEC. 7.
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.SEC. 8.
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.SEC. 9.
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. 10.
Section 5076 of the Business and Professions Code is amended to read:5076.
(a) In order to renew its registration in an active status or convert to an active status, a firm, as defined in Section 5035.1, shall have a peer review report of its accounting and auditing practice accepted by a board-recognized peer review program no less frequently than every three years.SEC. 8.SEC. 11.
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.SEC. 12.
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.SEC. 13.
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.No reimbursement is required by this act pursuant to Section 6 of Article XIII B of the California Constitution because the only costs that may be incurred by a local agency or school district will be incurred because this act creates a new crime or infraction, eliminates a crime or infraction, or changes the penalty for a crime or infraction, within the meaning of Section 17556 of the Government Code, or changes the definition of a crime within the meaning of Section 6 of Article XIII B of the California Constitution.