RELATES TO: KRS 325.261, 325.340(1)(h)
STATUTORY AUTHORITY: KRS 325.240(2)
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. (19 Ky.R. 1692; Am. 2025; eff. 2-19-1993; 20 Ky.R. 3212; eff. 8-4-1994; 27 Ky.R. 586; eff. 10-16-2000; 31 Ky.R. 1527; 1782; eff. 5-26-2005; TAm 10-27-2009; 42 Ky.R. 819; 1457; eff. 12-4-2015.)