Chapter Accy 2

Accy 2.202 Note Note: The courses covering the subjects of financial accounting, cost or managerial accounting, taxation, and auditing under s. Accy 2.202 (2) or (3), would generally be courses taken beyond the introduction accounting course required of every business major.

Accy 2.202(4) (4) Completed coursework that the board determines is reasonably equivalent to the course content and semester hours requirements specified in sub. (3) (a) and (b).

Accy 2.202 History History: 2015 Wis. Act 217: renum. (intro.), (1) from Accy 7.035 (intro.), (2) and am., cr. (1) (a) to (f), (2) Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am. (intro.), cr. (3), eff. 9-26-16; EmR1713: emerg. r. and recr., eff. 6-23-17; 2017 Wis. Act 88: r. and recr. Register December 2017 No. 744, eff. 6-1-17; CR 17-064: r. and recr., Register March 2018 No. 747 eff. 4-1-18; CR 20-041: r. (5) Register October 2021 No. 790, eff. 11-1-21.

subch. IV of ch. Accy 2 Subchapter IV — Examination

Accy 2.301 Accy 2.301 Examination. A candidate for a certified public accountant certificate shall successfully pass the certified public accountant examination set forth in s. Accy 2.302 and the professional ethics examination set forth in s. Accy 2.306.

Accy 2.301 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; 2015 Wis. Act 217: renum. from Accy 3.02 and am. Register May 2016 No. 725, eff. 6-1-16.

Accy 2.302 Accy 2.302 Certified public accountant examination.

Accy 2.302(1) (1) The subjects covering the discipline of accounting in the certified public accountant examination shall be as provided by the board of examiners of the American Institute of Certified Public Accountants Uniform Certified Public Accountant Examination. The passing grade on each section is 75 or higher.

Accy 2.302(2) (2) Examinations shall be graded by the board of examiners of the American institute of certified public accountants advisory grading service.

Accy 2.302 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; 2015 Wis. Act 217: renum. from Accy 3.03 and am. (1) Register May 2016 No. 725, eff. 6-1-16.

Accy 2.303 Accy 2.303 Education required for examination. A candidate for the certified public accountant examination must have satisfied one of the following for purposes of meeting the 120-hour coursework requirement under s. 442.04 (5) (b) 4., Stats.:

Accy 2.303(1) (1) Satisfied s. Accy 2.202 (1), (2), or (3).

Accy 2.303(2) (2) Satisfied the course content and semester hours requirements specified in s. Accy 2.202 (3) (a) and (b), or completed coursework that the board determines is reasonably equivalent to those requirements.

Accy 2.303 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93. r. and recr. Register, March, 1996, No. 483, eff. 4-1-96; 2015 Wis. Act 217: renum. from Accy 3.04 and am. Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am., eff. 9-26-16; EmR1713: emerg. r. and recr., eff. 6-23-17; 2017 Wis. Act 88: r. and recr. Register December 2017 No. 744, eff. 6-1-17; CR 17-064: r. and recr., Register March 2018 No. 747 eff. 4-1-18; CR 20-041: r. (3) Register October 2021 No. 790, eff. 11-1-21.

Accy 2.304 Accy 2.304 Candidates for examination.

Accy 2.304(1) (1) A candidate shall be allowed to sit for each section of the uniform certified public accountant examination individually.

Accy 2.304(2) (2) A candidate shall retain credit for any section passed for 18 months. A candidate may retake a section once the grade for the previous attempt of the same section has been released.

Accy 2.304(3) (3) A candidate must pass all sections of the uniform certified public accountant examination within a rolling 18-month period that begins on the date that the first section is passed.

Accy 2.304(4) (4) If any section of the uniform certified public accountant examination is not passed within the rolling 18-month period, credit for any section passed outside the 18-month period shall expire and that section shall be retaken.

Accy 2.304(5) (5) The board may on a case-by-case basis extend the 18-month period of credit for sections of the Uniform CPA Examination passed, or the duration of the 18-month rolling period, upon the applicant showing to the board’s satisfaction that the inability to pass all sections of the examination within the 18-month period was due to one of the following:

Accy 2.304(5)(a) (a) The sickness of the candidate or a member of the candidate’s immediate family if the candidate substantiates the illness by a doctor’s certificate.

Accy 2.304(5)(b) (b) A death in the candidate’s immediate family if the candidate provides proof of death.

Accy 2.304(5)(c) (c) Temporary military service.

Accy 2.304(5)(d) (d) Other good reason deemed acceptable by the board.

Accy 2.304 Note Note: An example of a good reason deemed acceptable by the board includes possible delays during NASBA’s launching of the new CPA examination in January 2024; therefore, any candidate with Uniform CPA Examination credit(s) on January 1, 2024, will have such credit(s) automatically extended to June 30, 2025.

Accy 2.304 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; CR 02-149: r. and recr. Register October 2003 No. 574, eff. 11-1-03; 2015 Wis. Act 217: renum. from Accy 3.06 and am. (title), (1), (3), (4) Register May 2016 No. 725, eff. 6-1-16; CR 19-160: am. (2) Register June 2020 No. 774, eff. 7-1-20; CR 21-013: cr. (5) Register December 2021 No. 792, eff. 1-1-22.

Accy 2.305 Accy 2.305 Cheating on examination.

Accy 2.305(1) (1) Cheating on the certified public accountant examination is a serious breach of integrity and indicates a lack of good professional character. Cheating on an examination includes any of the following:

Accy 2.305(1)(a) (a) Communications concerning an examination being taken between candidates inside or outside of the examination room, or copying another’s answers.

Accy 2.305(1)(b) (b) Communications concerning an examination being taken with accomplices outside of the examination room.

Accy 2.305(1)(c) (c) Substitution by a candidate of another person to sit in the examination room for the candidate and take one or more of the examination questions for the candidate.

Accy 2.305(1)(d) (d) Reference to “crib notes,” test books, electronic media, or other materials, other than those provided to the candidate as part of the examination, inside or outside of the examination room during periods examinations are being taken.

Accy 2.305(1)(e) (e) Divulging the nature or content of any examination question or answer to any individual or entity subsequent to the conclusion of the examination.

Accy 2.305(1)(f) (f) Removing any examination materials, notes or other similar materials from the examination room.

Accy 2.305(1)(g) (g) Falsifying or misrepresenting educational credentials or other information required for admission to the examination.

Accy 2.305(2) (2) Penalties imposed by the board for cheating on the examination shall be related to the seriousness of the offense. Cheating that was planned in advance is the most serious offense. Penalties may include the entering of a failing grade on all sections taken for the examinations in which cheating occurred and suspension of the right to take the next scheduled examination after the examination in which cheating occurred. Time within which conditional credit previously earned for passing part of the examination may be extended by board action in situations where penalties are levied, and by as long as the period of suspension.

Accy 2.305(3) (3) If more than one candidate is involved in a connected offense of cheating on an examination, each candidate knowingly involved in the cheating is subject to penalties.

Accy 2.305(4) (4) Other jurisdictions to which a candidate may apply to take the certified public accountant examination during a period of suspension of the right to take the examination shall be notified of the penalty levied in Wisconsin.

Accy 2.305 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; cr. (1) (e) and (f), Register, March, 1996, No. 483, eff. 4-1-96; 2015 Wis. Act 217: renum. from Accy 3.09 and am. (1) (intro.), (a) to (d), (2), (4), cr. (1) (g) Register May 2016 No. 725, eff. 6-1-16.

Accy 2.306 Accy 2.306 Professional ethics examination.

Accy 2.306(1) (1) A candidate for a certified public accountant certificate shall successfully pass an open book professional ethics examination on statutes and rules governing the practice of public accounting in Wisconsin.

Accy 2.306(2) (2) The passing grade on the professional ethics examination is 80.

Accy 2.306(3) (3) A candidate who fails to achieve a passing score on the professional ethics examination is not eligible for reexamination for 30 days following notification of the failure. A candidate who fails to achieve a passing score upon reexamination is not eligible for another reexamination for 90 days following notification of the reexamination failure.

Accy 2.306 History History: Cr. Register, November, 1993, No. 455, eff. 12-1-93; 2015 Wis. Act 217: renum. from Accy 3.10 Register May 2016 No. 725, eff. 6-1-16.

Accy 2.307 Accy 2.307 Examination review.

Accy 2.307(1) (1) An applicant for the certified public accountant examination may request a review of his or her examination from the National Association of State Boards of Accountancy.

Accy 2.307(2) (2) An applicant who fails the professional ethics examination may request a review of the examination. The following conditions apply:

Accy 2.307(2)(a) (a) The applicant shall file a written request to the board within 30 days of the date on which examination results were mailed and pay the fee under s. SPS 4.05.

Accy 2.307(2)(b) (b) Examination reviews are by appointment only and shall be limited to one hour.

Accy 2.307(2)(c) (c) Reviews shall be conducted prior to the time an applicant applies to retake the examination.

Accy 2.307(2)(d) (d) An applicant may review each failed examination only once.

Accy 2.307(2)(e) (e) The examination may be reviewed by telephone. During a telephone review an applicant shall be provided with the statute or administrative code reference number and the topic of the test questions the applicant failed.

Accy 2.307(2)(f) (f) An applicant may not be accompanied during the review by any person other than the proctors.

Accy 2.307(2)(g) (g) Bound reference books shall be permitted in the review.

Accy 2.307(2)(h) (h) Applicants may not remove any notes from the review. Notes shall be retained by the proctor.

Accy 2.307(2)(i) (i) The proctor shall not respond to inquiries by the applicant regarding allegations of examination error.

Accy 2.307 History History: Cr. Register, March, 1996, No. 483, eff. 4-1-96; correction in (2) (a) made under s. 13.92 (4) (b) 7., Stats., Register November 2011 No. 671; 2015 Wis. Act 217: renum. from Accy 3.11 and am. (1) Register May 2016 No. 725, eff. 6-1-16.

Accy 2.308 Accy 2.308 Transfer of scores. Applicants who have passed all or part of the uniform certified public accountant examination in another jurisdiction but who have not yet received their certified public accountant certificate shall be able to transfer scores in subjects passed to Wisconsin provided that:

Accy 2.308(1) (1) Scores transferred must be certified to the board by the other jurisdiction and must be passed in accordance with rules applicable to Wisconsin candidates.

Accy 2.308(2) (2) Transfer of scores must be accepted by board action and the applicant notified in a manner similar to the action on scores for Wisconsin applicants.

Accy 2.308 History History: 2015 Wis. Act 217: renum. from Accy 7.04 (1) and am. Register May 2016 No. 725, eff. 6-1-16.

subch. V of ch. Accy 2 Subchapter V — Experience

Accy 2.401 Accy 2.401 Review of candidate’s experience.

Accy 2.401(1) (1) Following the successful passing of each section of the uniform CPA examination and upon written request by a candidate, a candidate’s experience shall be reviewed by the board. The written request shall include employer verification statements and information on experience to update the experience data already in the candidate’s file. Such evaluation will determine whether the candidate qualifies at that time under the requirement of having at least one year of public accounting experience or its equivalent, the sufficiency of the experience or the equivalency to be judged by the board. The board shall inform the candidate if additional experience is needed. Upon gaining the required additional experience, the candidate shall notify the board and provide verification.

Accy 2.401(2) (2) Experience may consist of providing any type of services or advice using accounting, attest, compilation, management advisory, financial advisory, tax, or related consulting skills.

Accy 2.401 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.01, Register, October, 1976, No. 250, eff. 11-1-76; r. (4), Register, April, 1986, No. 364, eff. 5-1-86; renum. and am. (1), r. (2) and (3), Register, February, 1990, No. 410, eff. 3-1-90; CR 03-071: renum. from Accy 5.02 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. (title), (1) from Accy 5.01 and am., cr. (2) Register May 2016 No. 725, eff. 6-1-16.

Accy 2.402 Accy 2.402 Experience evaluation.

Accy 2.402(1) (1) The board shall evaluate public accounting experience and equivalent experience at each regularly scheduled board meeting. Evaluations may be made at special meetings, but normally will not be scheduled at such meetings.

Accy 2.402(2) (2) The board shall review the candidate’s experience on written request by the candidate. Among the areas of experience that may be considered by the board are the following:

Accy 2.402(2)(a) (a) Experience in accounting in industry and government may be considered equivalent to public accounting when it requires high levels of knowledge, competence and judgment.

Accy 2.402(2)(b) (b) Experience in teaching accounting may be considered equivalent to public accounting when it is at an advanced and specialized level of accounting. Courses taught in areas other than accounting do not qualify as public accounting experience.

Accy 2.402(2)(c) (c) Experience in law may be considered equivalent to public accounting when it is at a level with responsibility for independent accounting decisions and requires high levels of accounting knowledge, competence and judgment.

Accy 2.402 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.02, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.03 and am., cr. (2) (a) to (c) Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.02 Register May 2016 No. 725, eff. 6-1-16.

Accy 2.403 Accy 2.403 Public accounting experience. An individual must have at least one year of public accounting experience or its equivalent as determined by the board. Experience shall be acquired after the applicant has satisfied one of the requirements under s. Accy 2.303. This experience must have been acquired within 5 years prior to applying for the certification as a certified public accountant.

Accy 2.403 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.03, Register, October, 1976, No. 250, eff. 11-1-76; CR 01-047: am. Register December 2002 No. 564, eff. 1-1-03; CR 03-071: renum. from Accy 5.04 Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.03 and am. Register May 2016 No. 725, eff. 6-1-16; EmR1618: emerg. am., eff. 9-26-16; EmR1713: emerg. am., eff. 6-23-17; CR 17-064: am., Register March 2018 No. 747 eff. 4-1-18.

Accy 2.404 Accy 2.404 Experience; general.

Accy 2.404(1) (1) The nature and level of an employee’s position or job title and position description is considered.

Accy 2.404(2) (2) Part-time employment can be counted proportionately, but normally is given little weight. If part-time employment is combined with full-time employment, the full-time employment is normally given the most weight.

Accy 2.404(3) (3) No more than one day of experience is allowed for any calendar day.

Accy 2.404 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.07, Register, October, 1976, No. 250, eff. 11-1-76; am. Register, December, 1978, No. 276, eff. 1-1-79; CR 03-071: renum. from Accy 5.08 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.04 Register May 2016 No. 725, eff. 6-1-16.

Accy 2.405 Accy 2.405 Bookkeeping and elementary individual tax return preparation. Bookkeeping and elementary individual tax return preparation are generally not considered to be qualifying experience.

Accy 2.405 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.08, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.09 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.05 Register May 2016 No. 725, eff. 6-1-16.

Accy 2.406 Accy 2.406 Judgment. Experience evaluations are based on the judgment of the board.

Accy 2.406 History History: Cr. Register, December, 1974, No. 228, eff. 1-1-75; renum. from Accy 5.11, Register, October, 1976, No. 250, eff. 11-1-76; CR 03-071: renum. from Accy 5.12 and am. Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: renum. from Accy 5.07 Register May 2016 No. 725, eff. 6-1-16.

subch. VI of ch. Accy 2 Subchapter VI — Licensure

Accy 2.501 Accy 2.501 Requirements for renewal and reinstatement of individual licenses.

Accy 2.501(1) (1) Renewal before 5 years. An individual certified public accountant who files an application for renewal of a license within 5 years after the renewal date may renew his or her license by filing with the board all of the following:

Accy 2.501(1)(a) (a) An application for renewal on a form prescribed by the department that includes the applicant’s representation under penalties of perjury that, during the 2-year period immediately preceding the date of application, the applicant has completed at least 80 continuing professional development credits meeting the requirements under s. Accy 2.602.

Accy 2.501(1)(b) (b) The fee determined by the department under s. 440.03 (9) (a), Stats., and the applicable late renewal fee specified in s. 440.08 (3) (a), Stats.