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MS SB2119

Bill

Status

Passed

5/11/2016

Primary Sponsor

Eugene Clarke

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Origin

Senate

2016 Regular Session

AI Summary

  • Revises the definition of "attest" to include engagements performed under Public Company Accounting Oversight Board (PCAOB) standards and other attestation standards adopted by reference by the board.

  • Reduces the collegiate-level semester hours required to sit for the CPA examination from 150 to 120 semester hours, while maintaining the 150-hour requirement before the board will accept an application for a CPA license.

  • Corrects a typographical error in Section 73-33-9 that referenced the wrong code section number (77-33-17 should be 73-33-17).

  • Expands the Mississippi State Board of Public Accountancy's disciplinary powers to take action against any license, practice privilege, or permit, and allows the board to use peer review results in disciplinary proceedings.

  • Allows the board to provide notice of rule changes by electronic mail in addition to regular mail, and takes effect July 1, 2016.

Legislative Description

Public Accountancy; revise laws regulating the practice of.

Last Action

Approved by Governor

5/11/2016

Committee Referrals

Judiciary A3/16/2016
Business and Financial Institutions2/1/2016

Full Bill Text

No bill text available