MO HB832

Creates a new section 326.260 granting the Missouri State Board of Accountancy authority to establish its own bank accounts, earn interest on deposits, acquire and manage property, enter contracts, and employ staff as state employees with benefits.

Amends section 326.289 to require a firm permit for issuing audits, compilations, or reviews, with permit periods of no more than three years and specifies ownership requirements that a simple majority must be licensed in some state.

Establishes peer review requirements for firms renewing permits no more frequently than once every three years, with confidentiality protections for peer review documents and processes.

Amends section 326.319 to transfer collection of all fees and revenues directly to the Missouri State Board of Accountancy instead of the state treasury, effective August 28, 2011, making the board financially independent from the General Revenue Fund.

Prohibits any state funds or appropriations from supporting the board's operations; the board must be entirely self-funded through licensee and permit fees collected directly by the board.