1. A. Hereafter, every applicant for the certificate of certified public accountant or license of public accountant must be of good moral character, must be a resident of this state immediately prior to making application and must meet the requirement of education and experience as hereinafter provided:

   1. 1. The educational requirement shall be graduation from an accredited high school or, in the opinion of the Board, the equivalent thereof; and
   2. 2. The experience requirement shall be at least three (3) years of public accounting experience, at least one (1) year of which shall have been in this state, and the Board shall give consideration to equivalent experience as satisfying the requirement of three (3) years' public accounting experience, such equivalent experience to consist of work of a responsible and nonroutine accounting nature which requires independent judgment on accounting matters. Provided, however, that as to an applicant who is a graduate of an accredited four-year college or university with a major in accounting or with a non-accounting major supplemented by what the Board determines to be substantially the equivalent of an accounting major of any four-year college or university in this state or any other four-year college or university recognized by the Board, shall be deemed to have the equivalent of three (3) years' public accounting experience provided that the applicant has satisfactorily completed forty-eight (48) semester hours, or the equivalent thereof, in accounting and related subjects, of which not less than thirty (30) semester hours, or the equivalent thereof, shall be in accounting courses at least one of which shall be in auditing, and the remainder of said forty-eight (48) semester hours shall be any or all of the subjects of economics, statistics, business law, finance, business management, marketing, business communication, financial information systems, or computer science or the equivalent of such subjects as determined by the Board. On or after July 1, 1996, every applicant for the certificate of certified public accountant shall have graduated from an accredited four-year college or university with a major in accounting or with a nonaccounting major supplemented by a curriculum the Board determines to be substantially the equivalent of an accounting major of any four-year college or university in this state or any other four-year college or university recognized by the Board. Such major in accounting or nonaccounting major shall include satisfactory completion of forty-eight (48) semester hours, or the equivalent thereof, in accounting and related subjects, of which not less than thirty (30) semester hours, or the equivalent thereof, shall be in accounting courses at least one of which shall be in auditing and the remainder of said forty-eight (48) semester hours shall be any or all of the subjects of economics, statistics, business law, finance, business management, marketing, business communication, financial information systems or computer science or the equivalent of such subjects as determined by the Board.
2. B. On or after July 1, 1999, every applicant for the license of public accountant shall have graduated from an accredited four-year college or university with a major in accounting or with a nonaccounting major supplemented by what the Board determines to be the equivalent of an accounting major of any four-year college or university in this state or any other four-year college or university recognized by the Board. Such major in accounting or nonaccounting major shall include satisfactory completion of forty-eight (48) semester hours, or the equivalent thereof, in accounting and related subjects. At least thirty (30) semester hours, or the equivalent thereof, of said forty-eight (48) semester hours, shall be in accounting courses, at least one of which shall be in auditing. The remainder of said forty-eight (48) semester hours, or the equivalent thereof, shall be in said related subjects, which shall be in any or all of the subjects of economics, statistics, business law, finance, business management, marketing, business communication, financial information systems or computer science or the equivalent of such subjects as determined by the Board.

Laws 1965, SB 286, c. 188, § 8, emerg. eff. June 8, 1965; Amended by Laws 1968, HB 1216, c. 271, § 5, emerg. eff. April 30, 1968; Amended by Laws 1986, SB 562, c. 79, § 5, emerg. eff. July 1, 1986; Amended by Laws 1992, HB 2340, c. 272, § 9, eff. September 1, 1992.