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					                                                                             Attachment B
                 EXCERPTS FROM STATE LAW AND REGULATIONS


                                       STATE LAW

AS 08.04.100. Certificate granted. The certificate of “Certified Public Accountant” shall be
granted by the board to any person who meets the requirements of AS 08.04.110 —
08.04.130.

AS 08.04.110. Personal requirements. An applicant for the certified public accountant
certificate shall be at least 19 years of age and of good moral character.

AS 08.04.120. Educational and experience requirements. (a) The education and
experience requirements for an applicant are as follows:

(1) a baccalaureate degree or its equivalent conferred by a college or university acceptable
    to the board and additional semester hours or post-baccalaureate study so that the total
    educational program includes at least 150 hours, with an accounting concentration or
    equivalent as determined by the board by regulation to be appropriate, and two years of
    accounting experience satisfactory to the board; or

(2) a baccalaureate degree or its equivalent conferred by a college or university acceptable
    to the board and additional semester hours or post-baccalaureate study so that the total
    educational program includes at least 150 hours, and three years of accounting
    experience satisfactory to the board.

     (b) Notwithstanding (a) of this section, the board may grant a certificate to an applicant
     who has not completed the 150-hour educational program required by (a) of this section
     if the applicant has received a baccalaureate degree, or its equivalent, before January 1,
     2001, from a college or university acceptable to the board, and if the applicant satisfies
     the other criteria established by the board by regulation for receiving the certificate.

Sec. 08.04.130. Examination. An applicant shall pass an examination in accounting and
reporting, in auditing, and in other related subjects that the board determines appropriate. The
examination shall be designated in advance by the board as the examination for the
certificate of certified public accountant. The board shall use the Uniform Certified Public
Accountant Examination of the American Institute of Certified Public Accountants and the
institute's advisory grading service, if available. The board shall, by regulation, establish
what constitutes a passing grade on the examination for purposes of licensure under
AS 08.04.100 - 08.04.240.

Sec. 08.04.150. Qualifications to take examination. A person is qualified to take the
examination for certified public accountants if the person either



                                          Page 1 of 3
                                                                            Attachment B
                 EXCERPTS FROM STATE LAW AND REGULATIONS

(1) has a baccalaureate degree or its equivalent conferred by a college or university
    acceptable to the board with

      (A) an accounting concentration or the equivalent, as defined in regulations of the
          board;

      (B) a minimum of 15 semester credit hours or 22 quarter credit hours of accounting
          subjects; or

      (C) one year of public accounting experience under the direct supervision of a
          certified public accountant;
      or

(2) has met or is within 18 semester credit hours or 27 quarter credit hours of meeting the
    undergraduate educational requirements of AS 08.04.120 and has completed at least
    15 semester hours or 22 quarter hours of accounting subjects.


                                STATE REGULATIONS

12 AAC 04.185. EDUCATION DEFINED FOR CERTIFIED PUBLIC ACCOUNTANT
APPLICANTS.

(a)   Repealed 2/2/94.

(b) As used in AS 08.04.120, an accounting concentration consists of not less than

      (1) 24 semester credit hours or 36 quarter credit hours in subjects such as

           (A) accounting principles;

           (B) intermediate accounting;

           (C) income tax;

           (D) cost accounting;

           (E) auditing;

           (F) advanced accounting; or

           (G) accounting theory;


                                          Page 2 of 3
                                                                            Attachment B
                 EXCERPTS FROM STATE LAW AND REGULATIONS

      (2) three semester credit hours or five quarter credit hours of business law;

      (3) three semester credit hours or five quarter credit hours of economics; and

      (4) three semester credit hours or five quarter credit hours of

           (A) statistics;

           (B) computer science; or

           (C) algebra, calculus, or mathematics.

(c)   Repealed 2/2/94.

(d) Repealed 2/2/94.

(e)   As used in AS 08.04.120, "a college or university acceptable to the board" means

      (1) the University of Alaska;

      (2) a college or university accredited by a regional accrediting association that is
          recognized by the University of Alaska; or

      (3) a foreign college or university whose degree program has been evaluated by an
          approved credentials evaluation service and determined to be equivalent to the
          degree program of an institution acceptable under (1) or (2) of this subsection; an
          approved credentials evaluation service must be

           (A) a member of the National Association of Credentials Evaluation Services,
               Inc.,

           or

           (B) recognized by the University of Alaska.




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