SB 703
Modifies provisions relating to the practice of public accounting
LR Number:
Last Action:
5/15/2020 - Informal Calendar S Bills for Perfection--SB 703-Hoskins, with SCS
Journal Page:
SCS SB 703
Calendar Position:
Effective Date:
August 28, 2020

Current Bill Summary

SCS/SB 703 - This act modifies provisions relating to the practice of public accounting.

Current law sets forth certain requirements for licensure as an accountant. Under this act, applicants applying for the examination after June 30, 2021, shall have at least 120 semester hours of college education at an accredited college or university recognized by the Missouri State Board of Accountancy, with an accounting concentration or equivalent.

Current law also requires an applicant for an examination to be a resident of the state, have a place of business in this state, or be regularly employed in this state. This act repeals such requirements.

(Section 326.280)

Under this act, the Missouri State Board of Accountancy may obtain information regarding peer review from any approved American Institute for Certified Public Accountants peer review program.

The Board may obtain the name and address of the public accounting firm, the firm's dates of enrollment in the program, the date of acceptance and the period covered by the firm's most recently accepted peer review, and if applicable, whether the firm's enrollment in the program has been dropped or terminated.

This provision is identical to SCS/SB 219 (2019), and is substantially similar to provisions contained in TAT/SS/HCS/HB 2046 (2020), SB 1006 (2020), HB 2648 (2020), HB 585 (2019), HB 943 (2019), and SCS/HB 705 (2019).

(Section 326.289)



No Amendments Found.