Kentucky Administrative Regulations › Title 201 - GENERAL GOVERNMENT CABINET › Chapter 1 - Board of Accountancy › Section 201 KAR 1:190 - Examination sections, applications, and procedures

Current through Register Vol. 51, No. 1, July 1, 2024
RELATES TO: KRS 325.261, 325.270
NECESSITY, FUNCTION, AND CONFORMITY: KRS 325.240(2) authorizes
				the board to promulgate administrative regulations to administer KRS Chapter
				325. KRS 325.270(1) and (2) require the board to authorize examinations for
				individuals seeking to become certified public accountants and authorize the
				board to, by administrative regulation, promulgate standards and fees governing
				all examination policies and procedures. KRS 325.261(4) requires passage of an
				examination prior to a person becoming licensed as a certified public
				accountant and for the board to determine the subjects to be included on the
				examination. This administrative regulation establishes the subjects, also
				referred to as sections, to be included on the examination, and the procedures
				and fees associated with the administration of the examination.
Section 1. Definitions.
(1) "Accounting course" means the subject
			 matter contained in the course description or catalog issued by a college or
			 university that includes auditing, tax, accounting standards, principles, or
			 processes.
(2) "AICPA" means the
			 American Institute of Certified Public Accountants, the entity that prepares
			 and grades the Uniform CPA Examination.
(3) "Business-related subjects" means courses
			 that contain in the course prefix or title, an indication that the course
			 subject matter is one (1) of the following: business, finance, marketing,
			 management, economics, computers, statistics, or accounting.
(4) "CLEP credit" means credit granted by a
			 university or college to a prospective student who obtains a passing score on
			 an exam administered through the College Level Examination Program.
(5) "DSST credit" means credit granted by a
			 university or college to a prospective student who obtains a passing score on
			 an exam administered through the Dantes Subject Standardized Testing
			 program.
(6) "Life assessment
			 course" means a course in which a student earns credit at a university or
			 college based upon the student's personal life and work experiences.
(7) "Major or concentration in accounting"
			 means a minimum of thirty-nine (39) semester hours in business-related
			 subjects, of which twenty-seven (27) semester hours consist of accounting
			 courses.
(8) "NASBA" means the
			 National Association of State Boards of Accountancy, which operates a
			 nationwide computer data bank for candidates applying to sit for the Uniform
			 CPA Examination.
(9) "Official
			 transcript" means an official document issued by a college or university that:
(a) States the college course work completed,
			 degrees awarded, and the date the degree was awarded; and
(b) Contains an authorizing signature or
			 seal.
(10) "Prometric or
			 its successor" means the testing service in charge of administering the Uniform
			 CPA Examination.
(11) "Quarter
			 hour" means 66/100ths of a semester hour.
(12) "Uniform CPA Examination" means the
			 computer-based version of the licensure examination administered by the
			 AICPA.