2005 Vermont Code - § 71b. — Registered public accountant licenses

§ 71b. Registered public accountant licenses

(a) A license as a "registered public accountant" shall be granted by the board to any person:

(1) who is of good character;

(2) who completes:

(A)(i) 60 or more semester hours of college credit at a college or university recognized by the board, including a minimum of 30 semester hours of accounting, auditing and related subjects as the board determines to be appropriate, and four years of experience in public accounting, meeting the requirements prescribed by board rule or other experience or employment which the board in its discretion considers substantially equivalent; or

(ii) 120 or more semester hours of college credit at a college or university recognized by the board, including a minimum of 30 semester hours of accounting, auditing and related subjects as the board determines to be appropriate, and two years of experience in public accounting, meeting the requirements prescribed by board rule or other experience or employment which the board in its discretion considers substantially equivalent; or

(iii) 150 or more semester hours of college credit at a college or university recognized by the board, including a minimum of 42 semester hours of accounting, auditing and related subjects as the board determines to be appropriate, and one year of experience in public accounting, meeting the requirements prescribed by board rule or other experience or employment which the board in its discretion considers substantially equivalent; and

(B) who has passed the examination required by subsection (b) of this section.

(b) The board shall use the examination of the Accreditation Council for Accountancy and Taxation for all subjects except auditing. The auditing examination shall be from the uniform certified public accountants' examination. Grading shall be provided by the organization preparing the examinations.

(c) An applicant for a license as a registered public accountant must have received conditional credit toward the registered public accountant examination on or before July 1, 2003 in order to continue on that path of licensure. Registered public accountants who have qualified for licensure on or before that date are allowed to continue to hold themselves out as such and continue to use that license and title. (Added 1997, No. 145 (Adj. Sess.), § 8; amended 1999, No. 52, § 5; 2001, No. 129 (Adj. Sess.), § 10; eff. June 13, 2002.)