Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO:
KRS
325.261,
325.340(1)(h)
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
325.240(2) authorizes the
Kentucky State Board of Accountancy to promulgate administrative regulations
for the administration of KRS Chapter 325. This administrative regulation
establishes requirements for documenting experience when applying to become a
certified public accountant.
Section
1. Definitions.
(1) "One (1)
year" means the completion of 2,000 hours of employment obtained after the
award of a baccalaureate degree during an employment period of not less than
twelve (12) months, excluding any leave or holiday time.
(2) "Verification" means confirmation by a
certified public accountant, as described in
KRS
325.261(6), of the truth or
accuracy of the applicant's accounting or attest experience.
Section 2.
(1) An applicant for licensure shall submit a
Certificate of Experience, which has been provided by the certified public
accountant for verification of experience.
(2) If the applicant has been employed by
more than one (1) employer to meet the experience requirement described in
KRS
325.261 and this administrative regulation, a
certificate shall be submitted for each employment situation.
Section 3. Experience
Verification. The certificate of experience shall include the following
information verified by a certified public accountant as described in
KRS
325.261(6):
(1) The name and address of the employing
public accounting firm, industry, or government agency;
(2) The month, day, and year the employment:
(a) Began; and
(b) Was terminated or the experience was
completed;
(3) Total
number of hours worked during the employment period, excluding holiday or leave
time;
(4) A brief description of
the applicant's job duties;
(5) The
applicant's working titles during employment; and
(6) The signature of the verifying certified
public accountant which attests to the truth and accuracy of the statements
made regarding the applicant's experience.
Section 4. Documentation and Verification of
Applicant Experience. A false or misleading statement made by a certified
public accountant on a certificate of experience shall constitute a violation
of KRS
325.340(1)(h).
Section 5. Incorporation by Reference.
(1) "Certificate of Experience", August 2015,
is incorporated by reference.
(2)
This material may be inspected, copied, or obtained, subject to applicable
copyright law, at the State Board of Accountancy, 332 W. Broadway, Suite 310,
Louisville, Kentucky 40202, Monday through Friday, 8 a.m. to 4:30
p.m.
STATUTORY AUTHORITY:
KRS
325.240(2)
