1.1 	A bill for an act
1.2 	relating to accountants; reducing hours required for continuing education;
1.3 	amending Minnesota Statutes 2006, section 326A.02, subdivision 5.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. Minnesota Statutes 2006, section 326A.02, subdivision 5, is amended to 
1.6 	read:
1.7 		Subd. 5.Rules. (a) The board may adopt rules governing its administration and 
1.8 	enforcement of this chapter and the conduct of licensees and persons registered under 
1.9 	section 326A.06, paragraph (b), including: 
1.10 	(1) rules governing the board's meetings and the conduct of its business;
1.11 	(2) rules of procedure governing the conduct of investigations and hearings and 
1.12 	discipline by the board;
1.13 	(3) rules specifying the educational and experience qualifications required for the 
1.14 	issuance of certificates and the continuing professional education required for renewal 
1.15 	of certificates;
1.16 	(4) rules of professional conduct directed to controlling the quality and probity 
1.17 	of services by licensees, and dealing among other things with independence, integrity, 
1.18 	and objectivity; competence and technical standards; and responsibilities to the public 
1.19 	and to clients;
1.20 	(5) rules governing the professional standards applicable to licensees including 
1.21 	adoption of the statements on standards specified in section 326A.01, subdivision 2, and 
1.22 	as developed for general application by recognized national accountancy organizations 
1.23 	such as the American Institute of Certified Public Accountants; 
2.1 	(6) rules governing the manner and circumstances of use of the titles "certified public 
2.2 	accountant," "CPA," "registered accounting practitioner," and "RAP";
2.3 	(7) rules regarding peer review that may be required to be performed under 
2.4 	provisions of this chapter;
2.5 	(8) rules on substantial equivalence to implement section 326A.14; 
2.6 	(9) rules regarding the conduct of the certified public accountant examination;
2.7 	(10) rules regarding the issuance and renewals of certificates, permits, and 
2.8 	registrations;
2.9 	(11) rules regarding transition provisions to implement this chapter;
2.10 	(12) rules specifying the educational and experience qualifications for registration, 
2.11 	rules of professional conduct, rules regarding peer review, rules governing standards for 
2.12 	providing services, and rules regarding the conduct and content of examination for those 
2.13 	persons registered under section 326A.06, paragraph (b); and 
2.14 	(13) rules regarding fees for examinations, certificate issuance and renewal, firm 
2.15 	permits, registrations under section 326A.06, paragraph (b), notifications made under 
2.16 	section 326A.14, and late processing fees. 
2.17 	(b) Rules governing continuing professional education may not require more than 30 
2.18 	hours every three years.