2006 Utah Code - 58-26a-302 — Qualifications for licensure and registration -- Licensure by endorsement -- Transitional provisions.

     58-26a-302.   Qualifications for licensure and registration -- Licensure by endorsement -- Transitional provisions.
     (1) Each applicant for licensure under this chapter as a certified public accountant shall:
     (a) submit an application in a form prescribed by the division;
     (b) pay a fee determined by the department under Section 63-38-3.2;
     (c) show evidence of good moral character;
     (d) submit a certified transcript of credits from an accredited institution acceptable to the board showing:
     (i) successful completion of a total of 150 semester hours or 225 quarter hours of collegiate level education with a concentration in accounting, auditing, and business;
     (ii) a baccalaureate degree or its equivalent at a college or university approved by the board; and
     (iii) compliance with any other education requirements established by rule by the division in collaboration with the board in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act;
     (e) submit evidence of one year of accounting experience in a form prescribed by the division;
     (f) submit evidence of having successfully completed the qualifying examinations in accordance with Section 58-26a-306; and
     (g) submit to an interview by the board, if requested, for the purpose of examining the applicant's competence and qualifications for licensure.
     (2) The division may issue a license under this chapter to a person who holds a license as a certified public accountant issued by any other jurisdiction of the United States if the applicant for licensure by endorsement:
     (a) submits an application in a form prescribed by the division;
     (b) pays a fee determined by the department under Section 63-38-3.2;
     (c) shows evidence of good moral character;
     (d) submits to an interview by the board, if requested, for the purpose of examining the applicant's competence and qualifications for licensure; and
     (e) (i) (A) shows evidence of having passed the qualifying examinations; and
     (B) (I) meets the requirements for licensure which were applicable in this state at the time of the issuance of the applicant's license by the jurisdiction from which the original licensure by satisfactorily passing the AICPA Uniform CPA Examination was issued; or
     (II) had five years of professional experience after passing the AICPA Uniform CPA Examination upon which the original license was based, within the ten years immediately preceding the application for licensure by endorsement; or
     (ii) shows evidence that the applicant's education, examination record, and experience are substantially equivalent to the requirements of Subsection (1), as provided by rule.
     (3) (a) Each applicant for registration as a Certified Public Accountant firm shall:
     (i) submit an application in a form prescribed by the division;
     (ii) pay a fee determined by the department under Section 63-38-3.2;
     (iii) have a CPA license under this chapter held by:
     (A) its proprietor, in the case of a sole proprietorship;
     (B) one of its general partners, managers, or members, in the case of a partnership or limited liability company;

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     (C) one of its officers or shareholders, in the case of a corporation; or
     (D) one of its owners, in the case of any other type of qualified business entity;
     (iv) designate a CPA licensee who is responsible for on site supervision of operations of the CPA firm; and
     (v) meet any other requirements established by rule by the division in collaboration with the board in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act;
     (b) Each separate location of a qualified business entity within the state seeking registration as a Certified Public Accountant firm shall register separately.
     (c) A Certified Public Accountant firm may include owners who are not licensed under this chapter provided that:
     (i) more than 50% of the ownership of the Certified Public Accountant firm, including financial interest and voting rights in the firm, is held by individuals who are Certified Public Accountants, licensed under this chapter or another jurisdiction of the United States; and
     (ii) all nonlicensed owners are active individual participants in the CPA firm.
     (4) An individual shall have until July 1, 2004, to obtain three years of qualifying experience for licensure without being required to complete the education requirement if that individual:
     (a) was approved to take the qualifying examinations prior to July 1, 1994, under prior law without completion of the education requirement; and
     (b) (i) passed the AICPA Uniform CPA Examination prior to July 1, 1994; or
     (ii) received conditional credits on the AICPA Uniform CPA Examination prior to July 1, 1994, and subsequently passed all parts of the AICPA Uniform CPA Examination within six immediately successive examination administrations.

Enacted by Chapter 261, 2000 General Session