HB 1517 -- Accountancy

Sponsor:  Treadway

This bill contains provisions regarding the practice of
accountancy.  The bill:

(1)  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;

(2)  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;

(3)  Removes the substantial equivalency standard provision
pertaining to the issuance of licenses to out-of-state license
holders;

(4)  Requires 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, to meet competency
standards established by the board;

(5)  Requires any licensee who is responsible for supervising
review services or signs or authorizes someone to sign review
reports to meet competency requirements established by the board;
and

(6)  Prohibits any licensee from preparing an amended tax return
or claim for a tax refund for a contingent fee for any client
unless permitted by board rule.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:01 am