71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 3089
 
                           A-Engrossed
 
                         House Bill 2975
                   Ordered by the House May 2
             Including House Amendments dated May 2
 
Sponsored by Representative MINNIS; Representative LOWE (at the
  request of Oregon Association of Independent Accountants)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure.
 
  Eliminates requirement that person receive passing grade on
auditing part of examination to be licensed as public accountant.
 { +  Prohibits licensed public accountant from performing
audits. + }
 
                        A BILL FOR AN ACT
Relating to public accountants; creating new provisions; and
  amending ORS 673.050 and 673.100.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 673.100 is amended to read:
  673.100. (1) The Oregon Board of Accountancy shall issue a
license as a public accountant to a person who applies for the
license and who:
  (a) Passes an examination on the code of professional ethics
adopted by the board;
  (b) Meets the requirements of ORS 673.050 for admission to the
examination for the certificate of certified public accountant;
  (c) Takes the examination for the certificate of certified
public accountant pursuant to ORS 673.060 and receives
 { - passing grades in the two parts of the examination that
include auditing and knowledge of accounting; and - }   { + a
passing grade in those sections of the examination, excluding the
auditing section, that the board by rule requires an applicant
for a license as a public accountant to pass; and + }
  (d) Has one year of public accountancy experience  { - ,
including auditing, - }  or the equivalent satisfactory to the
board.
  (2) An applicant for a license as a public accountant must make
application on a form provided by the board. The board shall
charge each applicant a fee for application in an amount
determined by the board by rule.
  SECTION 2. ORS 673.050 is amended to read:
  673.050. (1) Except as provided in subsection (2) of this
section, a candidate for admission to the examination for a
certified public accountant certificate shall:
  (a) Present satisfactory evidence of graduation with a
baccalaureate or higher degree from a college or university that
is accredited by one of the six regional accrediting associations
or by another accrediting body that is recognized by the Oregon
Board of Accountancy, and shall have completed 150 or more
semester hours or 225 or more quarter hours or the equivalent
thereof, including courses in the study of accounting, business,
economics, finance, written and oral communications and other
subjects as determined by the board as appropriate for the
accountancy profession; or
  (b) Be a public accountant who received a license under ORS
673.100 prior to January 1, 2000.
  (2) A person may apply to take   { - those parts of - }  the
examination for the certificate of certified public accountant
 { + in order to pass the sections + } described in ORS 673.100
on which  { + a + } passing   { - grades - }  { +  grade + } must
be received before a license as a public accountant may be issued
if the person presents satisfactory evidence of graduation from a
high school with a four-year course or of having acquired an
equivalent education, and has had two years of public accountancy
experience or the equivalent satisfactory to the board.
  SECTION 3.  { + The amendments to ORS 673.050 and 673.100 by
sections 1 and 2 of this 2001 Act apply to examinations for the
certificate of certified public accountant taken on or after the
effective date of this 2001 Act. + }
  SECTION 4.  { + Section 5 of this 2001 Act is added to and made
a part of ORS 673.010 to 673.457. + }
  SECTION 5.  { + A public accountant licensed under ORS 673.100
may not perform audits. + }
  SECTION 6.  { + Section 5 of this 2001 Act applies to audits
performed on or after the effective date of this 2001 Act. + }
                         ----------