FINAL BILL REPORT

                   SB 5628

                          C 378 L 99

                      Synopsis as Enacted

Brief Description:  Modifying license duration and continuing education requirements for accountants.

Sponsors:  Senators Gardner, Heavey, Shin, Prentice, Winsley and T. Sheldon.

Senate Committee on Commerce, Trade, Housing & Financial Institutions

House Committee on Commerce & Labor

Background:  The Board of Accountancy regulates Certified Public Accountants (CPAs) to protect the public interest and promote dependable financial information.  The board prescribes the qualifications of CPAs including licensing and continuing professional education requirements.

Certificates of CPAs are renewed on a biennial basis with renewal subject to completion of 80 hours of continuing education during the preceding two-year period.

Public accounting licenses must be renewed biennially, and are subject to satisfactory proof of sufficient accumulation of approved continuing education.

Summary:  The CPA continuing education requirement is 120 hours during the preceding three-year period.

The Board of Accountancy provides for the transition to the three-year continuing professional education requirement terms.  The board may also adopt by rule other education standards that  are consistent with those of other states to provide the most consistency with national standards.

CPA licenses must be renewed every three years, with renewal subject to the accumulation of 120 hours of continuing education.

Votes on Final Passage:

Senate 43 0

House     90 0 (House amended)

Senate    44 0 (Senate concurred)

Effective:  July 25, 1999