Table Of Content

Board of Public Accountants Department of Commerce & Statutes Rules Governing Public Accountancy in ^ A Montana STATE DOCUMENTS COLLECTION JAN G j 2001 iWONTANA STATE LIBRARY, 1515 E. 6th AVE. HELENA, MONTANA 59620 For Information Contact: Brenda St. Clair, Administrative Assistant Board ofPublic Accountants 1424 9th Avenue MT Helena, 59620-0407 (406) 444-3739 MONTANASTATELIBRARY 3 0864 0016 3387 7 ) INDEX MONTANA CODE ANNOTATED CONTENTS Board of Public Accountants 2-15-1866 Page 1 GENERAL PROVISIONS PART 1 DUTIES AND AUTHORITY OP DEPARTMENT DIRECTOR, AND BOARDS " Duties of department 37-1-101 Page 2 Standardized forms -1-104 37 Reporting disciplinary actions 37-1-105 3 against licensees 3 Biennial report to governor and 37-1-106 legislature 3 (37-1-107 through 37-1-120 reserved Duties of director 37-1-121 4 (37-1-122 through 37-1-129 reserved) Definition 37 1-130 4 Duties of boards 37-1-131 4 Nominees for appointment to licensing 37-1-132 and regulatory boards 5 Board members’ compensation and 37-1-133 expenses 5 Licensing boards to establish fees 37-1-134 commensurate with costs 5 — Licensing investigation and review 37-1-135 record access 5 — Disciplinary authority of boards 37-1-136 inj unctions 5 Grounds for disciplinary action—as 37-1-137 6 grounds for license denial conditions to new licenses (37-1-138 through 37-1-140 reserved) Nonryeeanreswal--ofterlmiicennasteionfor three 37 1-141 6 — PART 2 LICENSURE OP CRIMINAL OPPENDERS Purpose 37-1-201 Page Intent and policy CT\ 37-1-202 Conviction not a sole basis for denial 37-1-203 CTN Statement of reasons for denial 37-1-204 Licensure on completion of supervision 37-1-205 ^ — PUBLIC ACCOUNTANTS PART GENERAL 1 Definitions 37-50-101 Page 9 1 — Exemptions 37-50-102 Page 9 PART 2 BOARD OF PUBLIC ACCOUNTANTS Organization genera—l rulemaking power 37-50-201 Page 9 -- quorum -- seal records Compensation of members -- expenses 37-50-202 10 Rules of the board 37-50-203 10 Rulemaking powers relating to 37-50-204 11 reexaminations Duties of the department 37-50-205 11 PART LICENSING 3 Illegal use of title 37“ •50-301 Page 11 Certified public accountants -- 37- 50-302 13 certification -- qualifications and requirements Public accountants licensure • 37- 50-303 13 qualifications and requirements Public accountants -- licensure without 37 •50-304 13 ' examination of former military personnel examination otherwise required Education requirements 37“ 50-305 14 Repealed 37“ •50-306 14 Repealed 37“ •50-307 14 Examination 37“ •50-308 14 Credit for examinations taken 37- 50-309 14 in other states Existing certificates sufficient 37- 50-310 15 Certified public accountants -- 37“ •50-311 15 waiver of examination for holders of foreign or out-of-state licenses, certificates, permits, or degrees Public accountants -- waiver of 37-50-312 15 examination for holders of out-of-state license Registration of foreign accountants 37-50-313 16 restriction on title used Annual permit required -- display 37-50-314 16 Deposit of moneys collected 37“50-315 16 Other license fees prohibited 37-50-316 16 Certificate, license, and permit 37-50-317 17 expiration -- renewal fees (37-50-318 through 37-50-320 reserved) Revocation and suspension of 37-50-321 17 certificate, license, or per—mit or refusal to renew permit recovery of costs Reinstatement of certificate, license, 37-50-322 17 or permit to practice 37-50-323 through 37-50-330 reserved) ( Partnership composed of certified 37-50-331 18 public accountants -- registration - ii - Corporation composed of—certified 37-50-332 Page 18 public accountants registration Partnership comp—osed of public 37-50-333 19 accountants registration Corporation composed of public 37-50-334 19 accountants -- registration Registration of offices 37-50-335 20 Revocation or suspension of 37-50-336 20 partnership or corporation registration 37-50-337 through 37-50-340 reserved) ( Initiation of proceedings -- 37-50-341 21 hearings and rulemaking Violation 37-50-342 21 PART MISCELLANEOUS PROVISIONS 4 — Palse statements by accountants 37-50-401 Page 21 — misdemeanor penalty Privileged communications 37-50-402 21 ADMINISTRATIVE RULES OP MONTANA CONTENTS BOARD OP PUBLIC ACCOUNTANTS SUB-CHAPTER ORGANIZATIONAL RULE 1 Board organization 8.54.101 Page 26 SUB-CHAPTER 2 PROCEDURAL RULES Procedural rules 8 54.201 Page 27 . Public participation rules 8 54.202 27 . Committees 8 54.203 27 . Definitions 8.54.204 27 SUB-CHAPTER RESERVED 3 SUB-CHAPTER SUBSTANTIVE RULES 4 Board meetings 8.54.401 Page 29 Examinations 8.54.402 29 Out-of state candidates for 8.54.403 30 examination Examination credits -- Out-of-state 8.54.404 30 candidates Consecutive examinations and 8.54.405 30 re-examination requirements Requirements for certified public 8.54.406 31 accountant certificate and licensed public accountant license Qualifications for a license as 8.54.407 32 licensed public accountant iii Education requirements 8.54.408 Page 32 Accounting and auditing experience 8.54.409 33 requirements Fee schedule 8.54.410 33 Expiration -- renewal -- grace period 8.54.411 34 Registration of office/partnerships 8.54.412 34 and professional corporation -- repealed Rules of professional conduct repealed 8.54.413 34 Applications ““ repealed 8.54.414 35 Reciprocity other states 8.54.415 35 Reciprocity other countries 8.54.416 35 Previous applications in effect 8.54.417 35 SUB-CHAPTER RESERVED 5 SUB-CHAPTER 6 PROFESSIONAL CONDUCT RULES Preamble 8,54.601 Page 35 Definitions 8.54.602 37 Independence 8.54,603 37 Integrity and objectivity 8.54.604 37 Commissions 8.54.605 38 Contingent fees 8.54.606 38 Incompatible occupations 8.54.607 38 Competence 8.54.608 38 Auditing standards 8.54.609 39 Accounting principles 8.54.610 39 Forecasts 8.54.611 39 Confidential client information 8.54.612 40 Records 8.54,613 40 Discreditable acts 8.54.614 41 Acting through others 8.54.615 42 Advertising 8.54.616 42 Other technical standards 8,54,617 42 Form of practice and name 8.54.618 42 SUB-CHAPTER POSITIVE ENFORCEMENT RULES 7 Definitions 8 54.701 Page 43 . Enforcement against permit holders 8 54.702 43 . Enforcement procedures -- investigations 8 54.703 44 . Enforcement procedures -- hearing 8 54.704 45 . by the board Reinstatement 8 54.705 46 . SUB-CHAPTER 8 CONTINUING EDUCATION RULES Introduction 8 54.801 Page 46 . Basic requirement 8 54.802 46 . Who must comply -- general 8 54.803 47 . Non-resident holders of permit to 8.54,804 47 practice compliance Exceptions -- not practicing public 8 54.805 48 . accounting iv Hardship exception 8.54.806 Page 48 Other exceptions 8.54.807 48 General effective date 8.54.808 48 Reciprocity effective date 8.54.809 48 Reentry 8.54.810 49 Programs which qualify 8.54.811 49 Controls and reporting 8.54.812 50 Acceptable subject matter for 8.54.813 50 qualifying programs Acceptable programs — 8.54.814 51 Credit hours granted general 8.54.815 51 Credit for formal Individual 8.54.816 51 study programs Credit for service as lecturer. 8.54.817 52 discussion leader, or speaker Credit for published articles. 8.54.818 52 books, etc. Evidence of completion -- retention 8.54.819 52 Verification 8.54.820 53 Renewal of certificate or 8.54.821 53 license to practice Advisory committee 8.54.822 53 Statement on standards for formal 8.54.823 54 continuing education programs Standards for CPE program development 8.54.824 54 Standards for CPE program presentation 8.54.825 56 Standards for CPE program measurement 8.54.826 57 Standards for CPE reporting 8.54.827 58 SUB-CHAPTER PROFESSIONAL MONITORING RULES 9 Introduction 8.54.901 Page 59 Definitions 8.54.902 59 Statement by permit holders 8.54.903 60 Filing of reports 8.54.904 60 Alternatives and exemptions 8.54.905 61 Enforcement 8.54.906 61 V Digitized by the Internet Archive 2016 in https://archive.org/details/statutesrulesgov1995mont . TITLE 2 GOVERNMENT STRUCTURE AND ADMINISTRATION 2-15-1866. Board of public accountants. (1) There is a board of public accountants. (2) The board consists of five members appointed by the governor. The members are: (a) three certified public accountants certified under Title 37, chapter 50, who are certified and actively engaged in the practice of public accounting and who have held a valid certificate for at least years before their appointment. The 5 Montana society of certified public accountants shall submit to the governor annually a list of names of two candidates from which the appointments of these members may be made. However, the governor is not restricted to the names on this list. These members may not be residents of the same county. (b) one licensed public accountant licensed under Title 37, chapter 50, who is actively engaged in the practice of public accounting and who has held a valid license for at least 5 years before his appointment. When an appointment in this category is necessary, the Montana society of public accountants shall submit to the governor a list of names of two candidates from which the appointment may be made. However, the governor is not restricted to the names on this list. If there is no licensed public accountant known by the governor to be qualified and willing to serve in this position, the governor may appoint a certified public accountant meeting the qualifications provided in (2) (a). (c) one member of the general public who is not engaged in the practice of public accounting. (3) Each appointment is subject to confirmation by the senate and shall be submitted for consideration at the next regular session following appointment. (4) Each member shall serve for a term of 3 years. A member who has served two successive complete terms is not eligible for reappointment until after the lapse of 1 year. The governor may, after a hearing, remove a member for neglect of duty or other just cause (5) The board is allocated to the department for administrative purposes only as prescribed in 2-15-121. History: (1) thru (4)En. Sec. 1, Ch. 118, L. 1969; Sec. 66-1813, R.C.M. 1947; amd. and redes. 82A-1602.2 by Sec. 161, Ch. 350, L. 1974; Sec. 82A-1602.2, R.C.M. 1947; (5)En. 82A-1602 by Sec. 1, Ch. 272, L. 1971; amd. Sec. 10, Ch. 250, L. 1973; amd. Sec. 1, Ch. 285, L. 1973; amd. Sec. 1, Ch. 57, L. 1974; amd. Sec. 1, Ch. 58, L. 1974; amd. Sec. 1, Ch. 84, L. 1974; amd. Sec. 1, Ch. 99, L. 1974; amd. Sec. 354, Ch. 350, L. 1974; Sec. 82A-1602, R.C.M. 1947; R.C.M. 1947, 82A-1602 (part 82A-1602.2; amd. Sec. 3, ) , Ch. 684, L. 1979; MCA 1979, 2-15-1641, redes. 2-15-1866 by Sec. 4, Ch. 274, L. 1981. - - 1 . . ,, TITLE 37 PROFESSIONS AND OCCUPATIONS CHAPTER 1 GENERAL PROVISIONS Part 1 Duties and Authority of Department, Director, and Boards 37-1-101. Duties of department. 37-1-102. Renumbered 37-1-121 by Code Commissioner 1981. 37-1-103. Renumbered 37-1-131 by Code Commissioner 1981. 37-1-104. Standardized forms. 37-1-105. Reporting disciplinary actions against licensees. 37-1-106. Biennial report to governor and legislature. 37-1-107 through 37-1-120 reserved. 37-1-121. Duties of director. 37-1-122 through 37-1-129 reserved. 37-1-130. Definition, 37-1-131. Duties of boards. 37-1-132. Nominees for appointment to licensing and regulatory boards 37-1-133. Board members® compensation and expenses, 37-1-134. Licensing boards to establish fees commensurate with costs — 37-1-135. Licensing investigation and review record access. 37-1-136. Disciplinary authority of boards -- injunctions. 37-1-137. Grounds for disciplinary action as grounds for license denial -- conditions to new licenses. 37-1-138 through 37-1-140 reserved. 37-1-141. Nonre'newal of license for three years -- termination. — Part 2 Licensure of Criminal Offenders 37-1-201. Purpose. 37-1-202. Intent and policy. 37-1-203. Conviction not a sole basis for denial. 37-1-204. Statement of reasons for denial. 37-1-205. Licensure on completion of supervision. Par,t 1 Duties and Authority of Department, Director, and Boards 37-1-101. Duties of department. In addition to the provisions of 2-15-121, the department of commerce shall: (1) provide all the administrative and clerical services needed by the boards within the department, including corresponding, taking applications for licenses, issuing licenses granted by the boards, renewing licenses, registering, taking minutes of board meetings and hearings, and filing? - - 2