PA 06-31—HB 5682

General Law Committee

AN ACT CONCERNING PUBLIC ACCOUNTANTS

SUMMARY: This act requires the State Board of Accountancy to adopt regulations to allow licensed “public accountants” to convert their licenses to “certified public accountant” licenses without requiring any testing. Existing law allows public accountants to renew their annual licenses if they meet the same continuing education requirements met by certified public accountants.

EFFECTIVE DATE: October 1, 2006

BACKGROUND

Public Accountants and Certified Public Accountants

Prior law required the board to issue without charge credentials called “authorities” to practice public accounting to returning Korean War and World War II veterans who (1) practiced accounting as their principal profession before entering the service or (2) were in the service on June 29, 1955 and had been employed by an accounting firm as a staff accountant before entering the service. Applicants were required to apply within one year of their discharge. The law sets more rigorous standards for certified public accountants, requiring them to meet character, education, examination, and experience requirements (CGS 20-281c).

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