SB 896 -- ACCOUNTANTS

SPONSOR:  Yeckel (Johnson, 90)

COMMITTEE ACTION:  Voted "do pass" by the Committee on
Professional Registration and Licensing by a vote of 13 to 0.

This bill allows the State Board of Accountancy, at its
discretion, to prescribe by rule the terms and conditions for
license re-examination and re-examination fees.

The bill further allows for the temporary practice of
accountancy.  Temporary practice is a continuation or extension
of services for a client which began outside of this state and
extends into this state through common ownership, existence of a
subsidiary, assets, or other operations located within this
state.

Any licensee initially licensed after August 28, 2001, who is
responsible for supervising attest services or signs or
authorizes someone to sign the licensee's report on an accounting
firm's financial statement must meet competency standards
established by the board.

Licensees responsible for supervising review services or who sign
or authorize someone to sign review reports must meet competency
requirements established by the board.  No licensee may prepare
an amended tax return or claim for a tax refund for a contingent
fee for any client unless permitted by board rule.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill allows for the
temporary practice of accounting and clarifies language in the
practice act.

Testifying for the bill were Senator Yeckel; and Missouri Society
of Certified Public Accountants.

OPPONENTS:  There was no opposition voiced to the committee.

Bob Dominique, Legislative Analyst

Missouri House of Representatives
Last Updated October 11, 2002 at 9:04 am