(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

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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.

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(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,

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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
§ 35106.

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SOURCE: Subsection (b) amended by P.L. 28-118:7 (Apr 26, 2006). Subsection (c) amended by P.L. 28-118:8 (Apr 26, 2006), and P.L. 33-193:9 (Dec. 15, 2016). Subsection (d)(2) amended by P.L. 28-118:9, and P.L. 33-193:11 (Dec. 15, 2016). Subsection (f) amended by P.L. 28-118:10 (Apr 26, 2006), and P.L. 33-193:12 (Dec.
15, 2016. Subsection (g) amended P.L. 28-118:11 (Apr 26, 2006). Subsection (d)(1)
added by P,L. 33-193:10 (Dec. 15, 2016).

2017 NOTE: Subsection/subitem designations added/altered pursuant to the authority of 1 Guam Code Ann. § 1606.