SENATE BILL REPORT

                   SB 6249

              As Reported By Senate Committee On:

Commerce, Trade, Housing & Financial Institutions, January 28, 2000

Title:  An act relating to continuing professional education for certified public accountants.

Brief Description:  Providing a base standard for continuing education standards for certified public accountants.

Sponsors:  Senators Gardner, Horn, Spanel, Hale, Jacobsen, Heavey, Snyder and McCaslin.

Brief History:

Committee Activity:  Commerce, Trade, Housing & Financial Institutions:  1/27/2000, 1/28/2000 [DP].

SENATE COMMITTEE ON COMMERCE, TRADE, HOUSING & FINANCIAL INSTITUTIONS

Majority Report:  Do pass.

  Signed by Senators Prentice, Chair; Shin, Vice Chair; Gardner, Hale, Heavey, Rasmussen, T. Sheldon and Winsley.

Staff:  Susan Jones (786-7784)

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

CPAs certificates are renewed every three years with renewal subject to payment of fees and completion of 120 hours of continuing professional education.  The board may adopt, by rule, new continuing professional education standards that differ from the statute if the new standards are consistent with the standards of other states in order to provide consistent national standards.

Summary of Bill:  The board may adopt, by rule, new continuing professional education standards that differ from the statute if the new standards are consistent with the standards of other states in order to provide consistent national standards and the standards are at least at strict as the Washington statutory requirements.

Appropriation:  None.

Fiscal Note:  Available.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

Testimony For:  This is a small but important change.  OFM requested that the law be clarified that changes must be at least as strict as the statute.

Testimony Against:  None.

Testified:  PRO: Senator Gardner; Jim Boldt, WA Society of Certified Public Accountants; NEUTRAL:  Sandra Shoemaker, Deputy Director of WA State Board of Accountancy.