GENERAL ASSEMBLY OF NORTH CAROLINA
1991 SESSION
CHAPTER 214
AN ACT TO ENHANCE THE EDUCATIONAL REQUIREMENTS FOR CERTIFIED PUBLIC ACCOUNTANTS.
The General Assembly of North Carolina enacts:
Section 1. Effective January 1, 1997, G.S. 93-12(5) reads as rewritten:
"(5) To issue certificates
of qualification admitting to practice as certified public accountants, each
applicant who, having the qualifications herein specified, shall have passed an
examination to the satisfaction of the Board, in 'accounting theory,'
'accounting practice,' 'accounting,' 'auditing,' 'business law,' and
other related subjects.
From and after July 1, 1961, any
person shall be A person is eligible to take the examination given
by the Board, or to receive a certificate of qualification to practice as a
certified public accountant, who is a citizen of the United States or has
declared his intention of becoming a citizen or is a resident alien, and has
been domiciled in or resided for at least four months within the State of North
Carolina immediately prior to the filing of an application to take the
examination or to receive a certificate of qualification, is 18 years of age or
over, and is of good moral character, and submits evidence satisfactory to the
Board that:
a. He holds a bachelor's degree from a college or university accredited by one of the regional accrediting associations or from a college or university determined by the Board to have standards substantially equivalent to a regionally accredited institution, and
b. His degree
studies included a concentration in accounting as defined by the Board or that
he supplemented his degree studies with courses that the Board determines to be
substantially equivalent to a concentration in accounting. accounting,
and
c. Satisfactory
evidence of the completion of two years in an accredited college or university
or its equivalent with a concentration in accounting as defined by the Board
and two years experience in the practice of public accountancy under the direct
supervision of a certified public accountant, in addition to other experience
requirements in this section, may be substituted for a bachelor's degree.
Provided, however, the Board may, in its discretion, waive the education
requirement of any candidate if the Board is satisfied from the result of a
special written examination given the candidate by the Board to test his
educational qualifications that he is as well equipped, educationally, qualified
as if he met the education requirements specified above. The Board may
provide by regulation for the general scope of such examinations and may obtain
such advice and assistance as it deems appropriate to assist it in preparing,
administering and grading such special examinations.
Such applicant, in addition to passing the examination given by the Board, shall have the endorsement as to his eligibility of three certified public accountants who currently hold licenses in any state or territory of the United States or the District of Columbia and shall have had either:
a. Two years experience in the field of accounting under the direct supervision of a certified public accountant who currently holds a valid license in any state or territory of the United States or the District of Columbia, or
b. Five years experience teaching accounting in a four-year college or university accredited by one of the regional accrediting associations or in a college or university determined by the Board to have standards substantially equivalent to a regionally accredited institution; or
c. Five years experience in the field of accounting; or five years experience teaching college transfer accounting courses at a community college or technical institute accredited by one of the regional accrediting associations; or
d. Any combination of such experience determined by the Board to be substantially equivalent to the foregoing.
A Master's or more advanced degree in accounting, tax law, economics, business administration, or the equivalent thereof, or a law degree with emphasis in taxation or accounting from an accredited college or university may be substituted for one year of experience. The Board may permit persons otherwise eligible to take its examinations and withhold certificates until such person shall have had the required experience."
Sec. 2. Effective January 1, 2001, G.S. 93-12(5), as amended by Section 1 of this act, reads as rewritten:
"(5) To issue certificates of qualification admitting to practice as certified public accountants, each applicant who, having the qualifications herein specified, shall have passed an examination to the satisfaction of the Board, in 'accounting,' 'auditing,' 'business law,' and other related subjects.
A person is eligible to take the examination given by the Board, or to receive a certificate of qualification to practice as a certified public accountant, who is a citizen of the United States or has declared his intention of becoming a citizen or is a resident alien, and has been domiciled in or resided for at least four months within the State of North Carolina immediately prior to the filing of an application to take the examination or to receive a certificate of qualification, is 18 years of age or over, and is of good moral character, and submits evidence satisfactory to the Board that:
a. He
holds a bachelor's degree from a college or university accredited by one of the
regional accrediting associations or from a college or university determined by
the Board to have standards substantially equivalent to a regionally accredited
institution, and
a1. The candidate has completed a total of 150 college semester hours, or, has completed a minimum of 120 college semester hours with a concentration in accounting, which include a bachelor's degree at a college or university determined by the Board to have standards substantially equivalent to a regionally accredited institution, and
b. His
degree studies included a concentration in accounting as defined by the Board
or that he supplemented his degree studies with courses that the Board
determines to be substantially equivalent to a concentration in accounting.
b1. The candidate's total postsecondary school education included a concentration in accounting, as defined by the Board, or degree studies were supplemented with courses determined by the Board to be substantially equivalent to a concentration in accounting.
Provided, however, the Board may, in its discretion, waive the education requirement of any candidate if the Board is satisfied from the result of a special written examination given the candidate by the Board to test his educational qualifications that he is as well qualified as if he met the education requirements specified above. The Board may provide by regulation for the general scope of such examinations and may obtain such advice and assistance as it deems appropriate to assist it in preparing, administering and grading such special examinations.
Such applicant, in addition to passing the examination given by the Board, shall have the endorsement as to his eligibility of three certified public accountants who currently hold licenses in any state or territory of the United States or the District of Columbia and shall have had either:
a. Two years experience in the field of accounting under the direct supervision of a certified public accountant who currently holds a valid license in any state or territory of the United States or the District of Columbia, or
b. Five years experience teaching accounting in a four-year college or university accredited by one of the regional accrediting associations or in a college or university determined by the Board to have standards substantially equivalent to a regionally accredited institution; or
c. Five years experience in the field of accounting; or five years experience teaching college transfer accounting courses at a community college or technical institute accredited by one of the regional accrediting associations; or
d. Any combination of such experience determined by the Board to be substantially equivalent to the foregoing.
A Master's or more advanced degree in accounting, tax law, economics, business administration, or the equivalent thereof, or a law degree with emphasis in taxation or accounting from an accredited college or university may be substituted for one year of experience. The Board may permit persons otherwise eligible to take its examinations and withhold certificates until such person shall have had the required experience."
Sec. 3. Section 1 of this act becomes effective January 1, 1997. Section 2 of this act becomes effective January 1, 2001. The remainder of this act is effective upon ratification.
In the General Assembly read three times and ratified this the 5th day of June, 1991.
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James C. Gardner
President of the Senate
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Daniel Blue, Jr.
Speaker of the House of Representatives