Chapter 209 Oregon Laws 2003

AN ACT

HB 2331

Relating to accountancy; creating new provisions; amending ORS 673.040; and declaring an emergency.

Be It Enacted by the People of the State of Oregon:

SECTION 1. ORS 673.040 is amended to read:

673.040. (1) A certificate of certified public accountant shall be granted to any applicant who meets the requirements of this section and ORS 673.050 and 673.060 and who passes an examination on the code of professional ethics adopted by the Oregon Board of Accountancy.

(2) An applicant for a certificate shall show that after meeting the eligibility requirements for the examination required by ORS 673.050, the applicant has had one year of experience, meeting requirements prescribed by the board by rule, under the direct supervision of a public accountant, [or of a] certified public accountant or chartered accountant who:

(a) Is licensed and in good standing in this state or another jurisdiction; and

(b) Has been licensed for a minimum period of time set by the board by rule.

(3) The board may issue a certificate to a holder in good standing of a license of certified public accountant or chartered accountant issued by another state or by a foreign country upon a showing that the holder meets requirements that are substantially equivalent to the education, experience and other requirements that must be satisfied for the issuance of a certificate of certified public accountant under ORS 673.010 to 673.457.

[(3)] (4) The board shall charge a fee for each application for issuance of a certificate under this section in an amount prescribed by the board by rule.

[(4)] (5) The board by rule [shall] may prescribe:

(a) Information required of applicants regarding the practice of public accountancy outside this state; [and]

(b) Information required of licensees regarding changes in the ability or authority of the licensee to practice public accountancy; and

(c) A period of time within which applicants must satisfy the requirements of this section and ORS 673.050 and 673.060.

[(5)] (6) Any certified public accountant may also be known as a “public accountant.”

SECTION 2. (1) For purposes of complying with or enforcing rules adopted under ORS 673.040 (2) on or after the effective date of this 2003 Act, time served as a licensee prior to the effective date of this 2003 Act may be counted against any minimum licensing period adopted by the Oregon Board of Accountancy under ORS 673.040 (2) on or after the effective date of this 2003 Act.

(2) Rules adopted under ORS 673.040 on or after the effective date of this 2003 Act that establish a period of time within which applicants must satisfy the requirements of ORS 673.040, 673.050 and 673.060 may apply to persons who applied for a certificate of certified public accountant or for admission to the examination for a certificate of certified public accountant prior to the effective date of this 2003 Act.

SECTION 3. This 2003 Act being necessary for the immediate preservation of the public peace, health and safety, an emergency is declared to exist, and this 2003 Act takes effect on its passage.

Approved by the Governor June 4, 2003

Filed in the office of Secretary of State June 5, 2003

Effective date June 4, 2003

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