AN ACT relating to certified public accountants. Amend KRS 325.220 to define "peer review" as designed to promote quality in "accounting and auditing services"; change "peer review committee" to " sponsoring organization"; amend KRS 325.301 to allow an out-of-state CPA firm to perform attest services within Kentucky; exempt out-of-state CPA firms from paying the initial application fee; require firms to grant the Accountancy Board access to peer review documents maintained in Facilitated State Board Access; allow the board to appoint a peer review oversight committee to monitor the peer review program; amend KRS 325.340 to allow the board to privately reprimand CPAs and CPA firms; allow CPAs and CPA firms to apply to have minor violations removed from their professional record after ten years; limit a licensee from having his or her record expunged more than once.
It became law on Mar 23, 2018.
- Stage
- Became law
- Started in
- House
- Sponsor
- J. Miller
- Latest action
- Mar 23, 2018
Where it stands
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
This bill passed and is now law.
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Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- J. Miller
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Where it goes next
It is law in Kentucky. What happens now is up to the agency that carries it out, the courts, and the place itself.