An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1960 |
---|---|
Law Number | 183 |
Subjects |
Law Body
CHAPTER 183
An Act to amend and reenact §§ 54-89 and 54-98 of the Code of Virginia,
relating to certification requirements for certified public accountants
and when examinations may be waived. P
[S 65]
Approved March 4, 1960
Be it enacted by the General Assembly of Virginia:
1. That §§ 54-89 and 54-93 of the Code of Virginia be amended and re-
enacted as follows:
§ 54-89. The certificate of “certified public accountant’ shall be
granted by the Board to any person who meets with the requirements of
paragraphs (1) - (6) of this section.
(1) * He shall be a citizen of the United States or * have duly de-
clared his intention of becoming such citizen, and * be domiciled in the State
of Virginia, or * have a place of business therein at the time of making
application.
(2) * He shall be over the age of twenty-one years.
(3) * He shall be of good moral character.
(4) * He shall be a graduate of a high school with a four years’ course
or *, in the opinion of the Board, * have had equivalent education through
commercial experience, or otherwise: provided that on and after July one,
nineteen hundred sixty-four, he shall be a high school graduate and shall
have received stxty semester hours of credit from a college or university
accredited by the State Board of Education, or in courses approved by the
State Board of Accountancy at any other school, and after July one, nine-
teen hundred sixty-seven, he shall be a high school graduate and have
received ninety semester hours of such credit and after July one, nineteen
hundred seventy, he shall be a high school graduate and have received one
hundred twenty semester hours of such credit.
The required semester hours shall include courses in accounting, cost
accounting, auditing, commercial law and such other courses related to
accounting as the Board shall prescribe by regulation. The required
semester hour credits may be received in schools which specialize in
business training, including business schools and correspondence schools
if the courses in which the credits are received are found by the State
Board of Accountancy to be comparable to those offered by similar
institutions accredited by the State Board of Education. On application
of any such school, the State Board of Accountancy shall make such
investigation as shall be necessary to determine whether the subject
matter and instruction in any such course or courses are substantially
equivalent to comparable courses offered by institutions accredited by the
State Board of Education; and shall approve such course, if equivalent, to
fulfill the requirements of this subsection (4), provided that such ap-
proval may be withdrawn as to any course if evidence is presented to the
Board that such course is no longer substantially equivalent to those
offered in accredited institutions.
Provided, that on and after July one, nineteen hundred sixty-four, any
person who has not been able to obtain the required semester hours of
credit in a college, university, business school or correspondence school,
may meet the requirements of this subsection (4) by successfully com-
pleting a special examination, given under the direction of the State
Board of Accountancy, demonstrating that such person through training,
experience or self-education has acquired an education substantially equiv-
alent to that of a person who has met the requirements of this subsection
(4), as such requirements exist at the time of taking such examination.
The Board shall charge a fee for the taking of this examination not to
exceed fifteen dollars.
(5) * He shall have continuously for at least two years immediately
preceding the date of his application been engaged in practice as a public
accountant or shall have been employed as a staff accountant of a practicing
certified public accountant or public accountant; or * he shall have been
actively employed for at least four years preceding the date of his ap-
plication by the United States Treasury Department as an internal reve-
nue agent; or * he shall have been actively employed for at least four years
preceding the date of his application by any federal or state supervisory
agency or instrumentality as an auditor or examiner, whose duties entail
the audit or verification of accounts and records and the preparation,
based thereon, of reports to such agency or instrumentality for the
purposes of supervision or regulation; provided, that the experience re-
quired in this subsection shall include the preparation of balance sheets and
operating statements from general books or, * he shall in the opinion of
the Board * have had experience equivalent to that required in the fore-
going, and the Board shall recognize that the equivalent experience may be
obtained independently of employment with a practicing certified public
accountant, public accountant, the United States Treasury Department,
or any federal or state supervisory agency or instrumentality, as herein-
above set forth. *
(6) * He shall have passed examination in theory of accounts, in
practical accounting, in auditing, in commercial law as affecting ac-
countancy, and in such other related subjects as the Board may deem ad-
visable.
No applicant shall be examined in the subjects stated in subsection
(6) until the Board shall have been satisfied in respect to the requirements
stated in subsection (1)—* (4). * An applicant who is examined in the
subjects specified in subsection (6) * and who receives a satisfactory
grade may be granted the certificate of certified public accountant, but
not until the practical experience required in subsection (5) shall have
been obtained; and any person receiving such certificate shall be known
and styled as a “certified public accountant”. *
Notwithstanding the foregoing provisions of this section, any candi-
date who has taken the examination prior to July one, nineteen hundred
sixty, shall be eligible to take future examinations.
§ 54-98. The Board may, in its discretion, waive the examination
provided for in this chapter, and may issue a certificate of certified public
accountant to any person who possesses the other qualifications stated in
§ 54-89, and who is the holder of a certificate of certified public accountant
issued under the laws of any state or territory, or the District of Columbia,
which extends similar privileges to certified public accountants of this
State, provided the requirements for such certificates in the state or
territory or the District of Columbia, which has granted it to the applicant
are, in the opinion of the Board, equivalent to those herein required; or
who is the holder of a certificate of certified public accountant, or the
equivalent thereof, granted under the authority of a foreign nation, pro-
vided the requirements for such certificates are, in the opinion of the
Board, equivalent to those herein required. Any person, who could other-
wise qualify for a certificate of certified public accountant under this sec-
tion at any time, shall remain eligible for such certificate notwithstanding
any change in the educational requirements set forth in § 54-89.
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