SENATE BILL REPORT

SB 5944

BYSenators Warnke, Sellar and Newhouse

Revising provisions on continuing education for certified public accountants.

Senate Committee on Commerce & Labor

Senate Hearing Date(s):March 4, 1987

Majority Report:  That Substitute Senate Bill No. 5944 be substituted therefor, and the substitute bill do pass.

      Signed by Senators Warnke, Chairman; Smitherman, Vice Chairman; Anderson, Vognild, West, Williams.

Senate Staff:Mark McDermott (786-7429)

                  March 4, 1987

AS REPORTED BY COMMITTEE ON COMMERCE & LABOR, MARCH 4, 1987

BACKGROUND:

Persons holding a certificate of "certified public accountant" issued by the State Board of Accountancy are required to complete 80 hours of continuing professional education every two years to maintain their certificates.

SUMMARY:

The Board may, by rule, exempt certified public accountants from the continuing education requirement if they are retired from the profession or not engaged in public accounting or accounting related activities.  Persons so exempted may not use the terms "certified public accountant" or "CPA" in public, in testimony or in financial statements, forms or other accounting related written materials.

EFFECT OF PROPOSED SUBSTITUTE:

The continuing education requirement for certified public accountants is eliminated.  Persons holding a valid certified public accountant certificate may use the title of "certified public Accountant" or "CPA" if their activities do not require a CPA license.

Fiscal Note:      requested

Senate Committee - Testified: Geoff Gibbs, Washington Society of CPAs; Carey Rader, Washington State Board of Accountancy; Mike Moran, Pacific Northwest Bell