FINAL BILL REPORT

SB 6123

C 159 L 04

Synopsis as Enacted

Brief Description: Modifying the public accountancy act.

Sponsors: Senators Carlson, Keiser, Winsley and Spanel; by request of State Board of Accountancy.

Senate Committee on Financial Services, Insurance & Housing

House Committee on Commerce & Labor

Background: Certified Public Accountants (CPAs) provide necessary services to businesses and individuals. The very nature of their work requires that they be competent and reliable. The Washington State Board of Accountancy oversees the profession, and has the ability to impose sanctions and determine qualifications for certification and licensure in Washington.

Summary: The board's authority to sanction is extended to include authority over imposters and those who cheat on the CPA exam. Criminal penalties are established for persons who illegally use the CPA designation. CPAs licensed in other jurisdictions may qualify in a shorter period of time for reciprocal licensure in Washington State. The grace period for certificate holders converting to CPA licenses is extended by two years, and the board member term limits are extended from two three-year terms to three three-year terms.

Votes on Final Passage:

Senate       49  0

House       96  0

Effective: June 10, 2004

July 1, 2004 (Section 5)