Fiscal Note — 5887 SB, Public Accountancy Act, Board of Accountancy

Summary

Individual State Agency Fiscal Note for 5887 SB, titled public accountancy act, prepared for the Board of Accountancy (agency 165). Part I checks the No Fiscal Impact box and lists NONE for estimated cash receipts, operating expenditures and capital budget impact. The narrative states that SB 5887 adopts new and updated language from the Uniform Accountancy Act (UAA) of the American Institute of Certified Public Accountants (AICPA), including definitions of Substantial Equivalency, Practice Privilege and CPA Firms. It states that these changes will have little to no impact on current operation and can be absorbed within current resources. The agency preparation line names Diann Lewallen.

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“Fiscal Note — 5887 SB, Public Accountancy Act, Board of Accountancy.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-01-09-a31504-d263467-5887-sb-fn-final-01-08-24-316fe54496/, SHA-256 46547d2b55898278f42a2265aba9c818387203ac08f5cdd19227f32f95f06230.

Full text

Individual State Agency Fiscal Note

Bill Number: 5887 SB Title: Public accountancy act Agency: 165-Board of Accountancy

Part I: Estimates
X No Fiscal Impact

Estimated Cash Receipts to:

NONE

Estimated Operating Expenditures from:
NONE

Estimated Capital Budget Impact:

NONE

The cash receipts and expenditure estimates on this page represent the most likely fiscal impact. Factors impacting the precision of these estimates,
and alternate ranges (if appropriate), are explained in Part II.

Check applicable boxes and follow corresponding instructions:
If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note
form Parts I-V.
If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).

Capital budget impact, complete Part IV.

Requires new rule making, complete Part V.

Legislative Contact: Kellee Gunn Phone: 786-7429 Date: 01/05/2024
Agency Preparation: Diann Lewallen Phone: (360) 407-8121 Date: 01/08/2024
Agency Approval: Diann Lewallen Phone: (360) 407-8121 Date: 01/08/2024
OFM Review: Amy Hatfield Phone: (360) 280-7584 Date: 01/08/2024

Form FN (Rev 1/00) 188,810.00 Request # 2024-04-1
FNS063 Individual State Agency Fiscal Note 1 Bill # 5887 SB
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact
Significant provisions of the bill and any related workload or policy assumptions that have revenue or expenditure impact on the responding agency by
section number.

SB 5887 adopts new and updated language from the Uniform Accountancy Act (UAA) from the American Institute of
Certified Public Accountants (AICPA). These changes include language around CPA firm owners, practices prohibited and
not prohibited and acts that can result in revoked, suspended, etc license.

Updates and adds definitions for Substantial Equivalency (SE), Practice Privilege and CPA Firms.

Amends Experience requirements to as determined by the Board (mimicking existing language for education and
examination)

Amends mobility Practice Privileges from specified licensure requirements to a licensee from another state that is deemed
SE.

These changes will have little to no impact on current operation and can be absorb within current resources.
II. B - Cash receipts Impact
Cash receipts impact of the legislation on the responding agency with the cash receipts provisions identified by section number and when appropriate, the
detail of the revenue sources. Description of the factual basis of the assumptions and the method by which the cash receipts impact is derived. Explanation
of how workload assumptions translate into estimates. Distinguished between one time and ongoing functions.

II. C - Expenditures
Agency expenditures necessary to implement this legislation (or savings resulting from this legislation), with the provisions of the legislation that result in
the expenditures (or savings) identified by section number. Description of the factual basis of the assumptions and the method by which the expenditure
impact is derived. Explanation of how workload assumptions translate into cost estimates. Distinguished between one time and ongoing functions.

Part III: Expenditure Detail
III. A - Operating Budget Expenditures
NONE
III. B - Expenditures by Object Or Purpose
NONE

III. C - Operating FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part I
and Part IIIA.
NONE

III. D - Expenditures By Program (optional)
NONE

Part IV: Capital Budget Impact
IV. A - Capital Budget Expenditures
NONE

IV. B - Expenditures by Object Or Purpose
NONE

Public accountancy act 165-Board of Accountancy
Form FN (Rev 1/00) 188,810.00 Request # 2024-04-1
FNS063 Individual State Agency Fiscal Note 2 Bill # 5887 SB
IV. C - Capital Budget Breakout
Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.
NONE

IV. D - Capital FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part IVB.

NONE

Part V: New Rule Making Required
Provisions of the bill that require the agency to adopt new administrative rules or repeal/revise existing rules.

Public accountancy act 165-Board of Accountancy
Form FN (Rev 1/00) 188,810.00 Request # 2024-04-1
FNS063 Individual State Agency Fiscal Note 3 Bill # 5887 SB

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Our copy: 2024-01-09_a31504_d263467_5887-sb-fn-final-01-08-24.pdf
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