Statement of Scope
Accounting Examining Board
Relating to: | Extension of CPA credits |
Rule Type: | Both Emergency and Permanent |
1. Finding/nature of emergency (Emergency Rule only):
An expeditious promulgation of the proposed rule is in the best interest of Wisconsin’s economy and public welfare, as it will prevent some candidates for certification as a CPA from having to retake one or more sections of the Uniform CPA Examination resulting in a delay or possibly a denial of their opportunity to be employed or start a business as a CPA in Wisconsin.
2. Detailed description of the objective of the proposed rule:
NASBA recently notified all board members that they will be launching a new CPA Examination in January 2024. They also advised each state boards that the transition period might negatively impact exam takers because it may limit opportunities to test and create delays in score reporting. For these reasons, NASBA has recommended the Board to extend until June 30, 2025, all credit deadlines set to expire on January 1, 2024, in order to reduce negative impact to candidates.
In light of this, the Accounting Examining Board will update section Accy 2 to provide a temporary extension of the 18-month rolling deadline within which all sections of the Uniform CPA Examination must be passed. 3. Description of the existing policies relevant to the rule, new policies proposed to be included in the rule, and an analysis of policy alternatives:
Chapter Accy 2 contains the examination requirements for candidates for certification as a CPA. If the rules are not updated, some candidates who are in the process of completing the Uniform CPA Examination may be required to retake one or more exam sections. 4. Detailed explanation of statutory authority for the rule (including the statutory citation and language):
Section 15.08 (5) (b), Stats., provides an examining board “[s]hall promulgate rules for its own guidance and for the guidance of the trade or profession to which it pertains. . .” Section 442.04 (2), Stats., provides that “[t]he examining board shall hold an examination at least once each year at a time and place determined by the examining board.” Section 442.04 (5) (b) 4., Stats., provides the Board may not grant a certificate as a certified public accountant to any person other than a person who “… has successfully passed an examination in such subjects affecting accountancy and business as the examining board considers necessary.” 5. Estimate of amount of time that state employees will spend developing the rule and of other resources necessary to develop the rule:
State employees will spend approximately 80 hours developing the proposed rule.
6. List with description of all entities that may be affected by the proposed rule:
Candidates for Wisconsin certification as a CPA.
7. Summary and preliminary comparison with any existing or proposed federal regulation that is intended to address the activities to be regulated by the proposed rule:
None.
8. Anticipated economic impact of implementing the rule (note if the rule is likely to have a significant economic impact on small businesses):
The proposed rule will have minimal to no economic impact on small businesses and the state’s economy as a whole.
