(2) The qualifying experience of an applicant for certification must be meaningful with respect to qualifying the applicant for the practice of public accountancy. The experience may consist of any type of services or advice using accounting, attest, compilation, management advisory, financial advisory, tax or consulting skills. The Board shall look at such factors as the complexity and diversity of the work. The experience will be evaluated by the Board according to the following criteria.
(a) Qualifying experience in public accountancy shall mean employment as a staff Accountant by a practicing CPA holding a current license to practice or a firm of such duly licensed accountants certified, registered or licensed to practice public accountancy in this state or by the duly constituted laws of any other sovereign state or country. The qualifying experience in subsection (2) (a) must be at least one year in duration and must include a minimum of 2,000 hours. Such experience shall be supervised by an individual who holds a license as a CPA.
1. Public accountancy work for purposes of this section shall mean the performance of any combination of services involving the use of accounting, auditing or attestation skills, one or more types of consulting services, the preparation of tax returns or the furnishing of advice on tax matters.
2. The work must involve the application of appropriate technical and behavioral Standards such as standards contained in the Code of Professional Conduct, Generally Accepted Auditing Standards, Statements on Standards for Attestation Engagements, Statements on Standards for Accounting and Review Services, the Statement on Standards for Tax Services, the Statements on Standards for Management Consulting Services, International Financial Reporting Standards, or other such standards as designated by policy statements of the Board.
(b) Qualifying experience in lieu of such years of experience in public accountancy shall mean employment in the accounting field in industry, business, government or college teaching, any combination of the above and experience in public accountancy. Self-employment experience shall not be considered qualifying experience.
1. For qualifying experience in industry or business the applicant must (a) have been employed by an individual or entity in the performance of duties primarily involving the use of financial accounting and auditing skills, which follow Generally Accepted Accounting Principles; and (b) have been supervised by an individual who holds a current license or registration to practice public accountancy as a CPA or registered public accountant licensed by this state or by the duly constituted laws of any other state or by the equivalent licensed by another country. Acceptable supervision shall include that by individuals employed by the entity or a related entity for which the applicant seeks qualifying experience and other supervision as may be approved by the Board. In addition, the applicant may have performed duties involving the installation of internal control systems; the use of management advisory, financial advisory, or consulting skills; or compliance with accounting aspects of tax or regulatory laws. The qualifying experience in this subsection must be at least one year in duration and must include a minimum of 2,000 hours.
2. For qualifying experience in government, the applicant must have been employed by a federal, state or local government agency which is appropriated public funds and whose employees are considered public employees and which is recognized by the Board as having the responsibility and organizational structure for performing auditing and accounting functions. The qualifying experience in this subsection must be at least one year in duration and must include a minimum of 2,000 hours work time. Qualifying experience for an applicant employed by the Internal Revenue Service as an internal revenue agent shall count only experience obtained at or above the GS 11 level.
3. Qualified teaching experience shall consist of teaching in the accounting discipline for academic credit at an accredited four year college or university. The teaching must include at least two different courses of accounting above the introductory or elementary level. One year of experience shall consist of no less than 24 semester hours, or the equivalent in quarter hours, taught in a period consisting of not less than twelve months and not more than thirty six (36) months.
(i) Courses outside the field of accounting will not be counted toward full-time teaching. Such courses include, but are not limited to: business law, finance, computer applications, personnel management, economics and statistics.
4. Clerical functions shall not count under this section toward meeting the experience requirements. Clerical functions are positions that do not have accounting significance, including doing merely mathematical calculations, account analysis (looking into accounting books for specific information already recorded), and merely recording information in the general ledger (as opposed to compiling the information).
5. Qualifying experience shall not count experience attained while the applicant is enrolled as a full-time student at a four year college or university where the purpose of such enrollment is to meet the education requirements for certification under Section 43-3-6 of the Act. The Board may consider exceptions to this rule on a case by case basis.
6. Such other criteria as the Board may consider to be substantially equivalent to the foregoing.
(c) Supervision shall mean "the act of directing and inspecting the performance of."