Page:United States Statutes at Large Volume 80 Part 1.djvu/826

 790

PUBLIC LAW 89-578~SEPT. 16, 1966

[80 STAT.

the financial reporting and compliance with generally accepted accounting principles and applicable Government regulations for the protection of investors and consumers. Nothing in this subsection shall be interpreted as precluding consideration of Government experience for recognition under this subsection. (d) I n general, the educational and experience requirements specified in this section shall be those in effect on the final date for accepting applications for the examination for which the applicant first sits, but the Commissioners may permit exceptions to the general rule in order to prevent what they determine to be undue hardship to applicants resulting from changes in the edvicational and experience requirements made by this Act. (e) The Commissioners are authorized and empowered to alter, amend, and otherwise change the educational and experience requirements specified in this section at any time, but in altering, amending, or changing said standards the Commissioners shall not be permitted to lower the same below the standards herein set forth. cp^A^'^certm- °^ S^C- ^- (^) The Commissioners may, in their discretion, waive the cate. examination specified in section 6 of this Act and may issue an endorsement of certificate of certified public accountant, renewable periodi(ally but no more frequently than annually, to an applicant who— (1) is a certified public accountant of a State or territory of the United States, or who is the holder of a certificate of certified public accountant, or the equivalent thereof, issued in any foreign country, provided the requirements for such certificate are, in the opinion of the Commissioners, equivalent to those herein required; and (2) meets the qualifications specified in clauses (1), (2), (4), (6), and (7) in subsection (a) of section 6 of this Act: Prmnded^ however, That an applicant who is a certified public accountant in good standing of a State or territory shall not be required to meet more extensive educational and experience qualifications than those required by the District of Columbia at the time when such applicant was granted his certificate of certified public accountant by such State or territory; and (3) declares his intention under oath of opening and maintaining or being employed in an office in the District of Columbia for the purpose of engaging in the full-time public practice of his profession as a certified public accountant of the District of Columbia. (b) The holder of endorsement of certificate of certified public accountant, in full force and effect, shall have all of the privileges of the holder of a certificate of certified public accountant issued under section 6 of this Act and shall be subject to all of the provisions of the Act. Registration. gjj(^_ 9^ Every Certified public accountant engaged in or wiio proposes to engage in the public practice of his profession as a certified public accountant in the District of Columbia is hereby required to register periodically but no more frequently than annually with the Commissioners. A certified public accountant of the District of Columbia employed in the District of Columbia by another certified public accountant registered under this section or by a partnership of certified public accountants registered under section 10 of this Act, shall also be required to register. Failure of a certified public accountant or registrant to apply for such original or renewal registration shall deprive him of the right to engage in or continue to engage in the public practice of his profession as a certified public accountant unless and until he subsequently applies for and obtains such registration.

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