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Indiana General Assembly
House Bill 1312


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House Bill 1312

ARCHIVE (2007)

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DIGEST OF HB 1312 (Updated April 29, 2007 1:21 pm - DI 110)

Accountants. Requires the board of accountancy (board) to: (1) adopt rules for a quality review of CPA and PA firms that renew permits to practice accountancy; and (2) investigate a complaint made by a board of accountancy or the equivalent of a board of accountancy in another state. Provides that the members' terms expire on June 30. Establishes: (1) the accountant investigative fund (fund) to provide funds for administering and enforcing accountancy laws; and (2) a civil penalty of $25,000 for certain violations. Provides that the fund consists of fees assessed against certified accountants and civil penalties collected. Continually appropriates money from the fund to the professional licensing agency for its use in administering and enforcing accountancy laws. Allows the attorney general and the professional licensing agency to enter into a memorandum of understanding to provide the attorney general with funds to conduct investigations and pursue enforcement of the accountancy laws. Eliminates the requirement that an individual with a valid CPA certificate or similar qualifications from another state who intends to conduct business as a CPA in Indiana must notify the board of that intent. Provides that a CPA firm that employs individuals who have all the privileges granted to a CPA certificate holder consents to certain actions and requirements. Repeals provisions concerning certification of accounting practitioners.
Current Status:
 Law Enacted
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