Page:United States Statutes at Large Volume 80 Part 1.djvu/825

 80 STAT. ]

PUBLIC LAW 89-578-SEPT. 16, 1966

tory of the United States, and said firm is regularly engaged in the full-time public practice as certified public accountants, or (2)(A) Completion of a four-year course of study at an approved high school or the equivalent of such a course of study, and (B) Completion of a resident course of study satisfactory to the Commissioners at an institution, junior college, or school of accountancy, or combination thereof, of not less than ninety semester hours of which a minimum of thirty semester hours shall have been in accounting theory and practice, in auditing, and in commercial law as affecting accountancy, and the remainder of the semester hours shall have been in subjects satisfactory to the Commissioners, and (C) Not less than three years' experience satisfactory to the Commissioners in the full-time employment of a certified public accountant of the District of Columbia or of some other State or territory of the United States regularly engaged in the full-time public practice of his profession as a certified public accountant or in the full-time employment of a firm of certified public accountants, all the partners of which are certified public accountants of the District of Columbia or of any State or territory of the United States, and said firm is regularly engaged in the fulltime public practice as certified public accountants, or (3) (|A) Completion of a four-year course of study at an approved high school or the equivalent of such a course of study; and (B) Completion of a resident course of study satisfactory to the Commissioners at an institution, junior college, or school of accountancy, or combination thereof, of not less than one hundred and twenty semester hours with a major in accountancy satisfactory to the Board, or what the Board determines to be substantially the equivalent thereof, and (C) Not less than two years' experience satisfactory to the Commissioners in the full-time employment of a certified public accountant of the District of Columbia or of some other State or territory of the United States regularly engaged in the full-time public practice of his profession as a certified public accountant or in the full-time employment of a firm of certified public accountants all the partners of which are certified public accountants of the District of Columbia or of some other State or territory of the United States and said firm is regularly engaged in the full-time public practice as certified public accountants. (c) Commencing with the effective date of this Act, the Commissioners may, upon recommendation of the Board of Accountancy, except for any required year of certified public accountant employment as set forth in subsections (b)(1)(C), (b)(2)(C), and (b)(3) (C) of this sedtion, one and one-half years of actual and continuous experience of any person (1) in auditing the books and accounts of other persons in three or more distinct lines of commercial business in accordance with generally accepted auditing standards, or (2) in a combination satisfactory to the Board of the experience described in (1) above together with auditing the books and accounts or activities of three or more governjmental agencies or distinct organizational units in accordance with generally accepted auditing standards and reporting on their operations to a third party, to the Congress, or to a State legislature, or ^3) in reviewing financial statements and supporting material covering the financial condition and operations of private business entities to determine the reliability and fairness of

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