Guam § 35105 - Qualifications for a Certificate as a Certified Public

§ 35105. Qualifications for a Certificate as a Certified Public

Accountant.

(a) The certificate of >certified public accountant= shall be granted to

persons of good moral character who meet the education, experience and

examination requirements of the following Subsections of this § 35105 and

COL4122017

rules adopted thereunder and who make application therefor pursuant to §

35106 of this Act.

(b) Good moral character for purposes of this §35105 means the

propensity to provide professional services in a fair, honest, and open

manner and a lack of a history of dishonest or felonious acts. The Board may

refuse to grant a certificate or license on the ground of failure to satisfy this

requirement only if there is a substantial connection between the lack of

good moral character of the applicant and the professional responsibilities of

a licensee and if the finding by the Board of lack of good moral character is

supported by clear and convincing evidence. When an applicant is found to

be unqualified for a certificate or license because of a lack of good moral

character, the Board shall furnish the applicant a statement containing the

findings of the Board, a complete record of the evidence upon which the

determination was based, and a notice of the applicant’s right of appeal.

(c) The education requirement for a certificate and license, which must

be met before an applicant is eligible to take the examination prescribed in

Subsection (d), shall be as follows:

(1) during the five (5)-year period immediately following the

effective date of this amendment, at least a college education, including

a baccalaureate, or higher, degree or its equivalent conferred by a

college or university acceptable to the Board, the total educational

program to include an accounting concentration, or equivalent, as

determined by Board rule to be appropriate;

(2) After the expiration of the five (5)-year period immediately

following the effective date of this amendment, at least one hundred

fifty (150) semester hours of college education, including a

baccalaureate, or higher, degree conferred by a college or university

acceptable to the Board, the total educational program to include an

accounting concentration or equivalent as determined by Board rule to

be appropriate.

(d) Examination and Education.

(1) The examination required to be passed as a condition for the

granting of a certificate shall be held regularly throughout the year, and

shall test the applicant’s knowledge of the subjects of accounting and

auditing, and such other related subjects as the Board may specify by

rule, including, but not limited to, business law and taxation.

COL4122017

(A) The time for holding such examination shall be

determined by the Board and may be changed from time to time.

(B) The Board shall prescribe by rule the methods of

applying for and conducting the examination, including the

methods for grading and determining a passing grade required of

an applicant for a certificate; provided, however, that the Board

shall to the extent possible see to it that the examination itself,

grading of the examination, and the passing grades, are uniform

with those applicable in all other states.

(C) The Board may make such use of all or any part of the

Uniform Certified Public Accountant Examination and Advisory

Grading Service of the American Institute of Certified Public

Accountants, and may contract with third parties to perform such

administrative services with respect to the examination as it deems

appropriate to assist it in performing its duties hereunder.

(2) Notwithstanding § 35105(c), the educational requirement,

which must be met before an applicant is qualified to take the

examination prescribed in § 35105(d)(1), may be fulfilled by the

completion of such educational requirement within eighteen (18)

months following an applicant’s taking of the examination. No credit

for the examination shall be granted if the education requirement is not

completed within such time.

(e) The Board may charge, or provide for a third party administering the

examination to charge, each applicant a fee, in an amount prescribed by the

Board by rule.

(f) (1) An applicant for initial issuance of a certificate and inactive

license under this § 35105 shall show that the applicant has met the

education and examination requirements as defined herein and as

prescribed by the Board by rule.

(2) An applicant for initial issuance of a certificate and active

license under this § 35105 shall show

(A) that the applicant has met the education and examination

requirements, and has had two (2) years of experience as defined

herein as prescribed by the Board by rule; or

(B) if the applicant’s educational qualifications comprise at

least one hundred fifty (150) semester hours of college education,

COL4122017

including a baccalaureate, or higher, degree conferred by a college

or university acceptable to the Board, the total educational

program to include an accounting concentration, or equivalent, as

determined by Board rule to be appropriate, then that such

applicant shall have had one (1) year of experience as defined

herein and as prescribed by the Board by rule.

(i) This experience shall include providing any type of

service or advice involving the use of accounting, attest,

compilation, management advisory, financial advisory, tax,

or consulting skills, all of which must be verified by an active

licensee. Experience shall be acceptable if it was gained

through employment in government, industry, academia, or

public practice, meeting all the requirements prescribed by

the Board by rule.

(iii) To be authorized to sign reports on attest

engagements, an applicant shall show that the applicant has

had experience in attest services as prescribed by the Board

by rule. The type of experience now acceptable can be

applied retroactively.

(3) An applicant for initial certification and active licensure who

first sat for the exam as other than a Guam candidate and did not meet a

one hundred fifty (150) hour educational requirement at the time of first

sitting shall have had two (2) years of experience in the practice of

public accountancy, meeting the requirements prescribed by the Board

by rule.

(4) An applicant for initial certification and active licensure who

first sat for the exam as other than a Guam candidate and did meet a

one hundred fifty (150) hour educational requirement at the time of first

sitting shall have had one (1) year of experience in the practice of

public accountancy, meeting the requirements prescribed by the Board

by rule.

(g) Upon the effective date of this Chapter, any person holding a valid

certificate issued under prior Guam law shall be deemed to have met the

requirements for certification set out in this § 35105. Individuals who held

certificates issued prior to the effective date of this law will be marked

‘inactive’ unless they are issued licenses pursuant to and in accordance with