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(1) To be issued an initial permit to practice under 37-50-203, MCA, an applicant must provide evidence of acceptable accounting and auditing experience.

(2) Accounting and auditing experience will be considered acceptable by the board if satisfactory evidence is presented of having performed accounting and auditing functions ordinarily required in the practice of public accounting, provided this experience:

(a) be attested to by a holder of a permit to practice; and

(b) takes place in the five years prior to the date of the application for permit to practice; and

(c) includes at least:

(i) 12 calendar months (2000 hours actual work experience) with at least 500 hours of attest oriented experience requiring application of generally accepted standards and issuance of reports requiring application of generally accepted accounting principles. The prescribed experience may be fulfilled from a combination of attest experience having as its objective financial audits, compliance audits, reviews, compilations, or internal financial audits; or

(ii) 24 calendar months (4000 hours actual work experience) of private, governmental, or public accounting work acceptable to the board.

History: 37-1-131, 37-50-203, MCA; IMP, 37-1-131, 37-50-203, MCA; Eff. 12/31/72; AMD, Eff. 12/5/74; AMD, Eff. 1/4/75; AMD, 1980 MAR p. 2971, Eff. 11/29/80; TRANS, from Dept. of Prof. & Occup. Lic., Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1984 MAR p. 961, Eff. 6/29/84; AMD, 1990 MAR p. 584, Eff. 3/30/90; TRANS, from Commerce, 2005 MAR p. 2668; AMD, 2009 MAR p. 9, Eff. 1/16/09.

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