| 10. Experience. During the 5-year period immediately |
following October 1, 1997, the applicant shall show that the |
applicant has had 2 years of experience in the practice of public |
accountancy or its equivalent, meeting requirements prescribed by |
the board by rule; or, if the applicant's educational |
qualifications include, a masters degree conferred by a college |
or university approved by the board, then only one year of |
experience in that practice or its equivalent is required. After |
October 1, 2002, for initial issuance of a certificate under this |
subsection, an applicant shall demonstrate 2 years of experience |
that was under the direction of a licensee under this subchapter |
and shall meet the other requirements prescribed by the board by |
rule. The applicant's experience must include the use of |
accounting or auditing skills, including the issuance of reports |
on financial statements, and at least one of the following: the |
provision of management advisory, financial advisory or |
consulting services; the preparation of tax returns; the |
furnishing of advice on tax matters; or equivalent activities |
defined by the board by rule. Board rules adopted pursuant to |
this subsection are routine technical rules as defined in Title |
5, chapter 375, subchapter II-A. To the extent the applicant's |
experience is as an auditor engaged in the examination of |
financial statements for the Department of Audit or as a revenue |
agent or similar position engaged in the examination of personal |
and corporate income tax returns for the Bureau of Revenue |
Services, the applicant receives credit at the rate of 50% toward |
the experience required by this subsection. To the extent the |
applicant's experience is as an examiner engaged in financial |
examinations for the Bureau of Insurance, the applicant receives |
credit under this subsection if that experience meets the |
following standards: |