The Legislative Council of The South Carolina General Assembly published the latest updates to The South Carolina State Register (Vol. 43, Issue 10) on Oct. 25. SCACPA commends all the LLR staff, Board Members and other volunteers who put in countless hours of work to make these proposals become reality.

However, the SCACPA Advocacy Team wants to alert all members of the Association to two areas that we intend to continue to monitor through this process:

  1. proposed increases to the LLR Fees Schedule (Document 4922)
  2. regulation 1‐10 (C) Definition of Client Records (Document 4923)

Updating of LLR Fees Schedule

On Sept. 14, the South Carolina Board of Accountancy voted its approval to raise annual license fees starting for 2021. The Oct. 25 issue of the State Register contains a table that updates those fees in Document No. 4922.

The LLR has scheduled a hearing for comments to be conducted at the Administrative Law Court at 10 a.m. on Dec. 9. If a qualifying request is not timely received, the hearing will be canceled. The deadline for the LLR to receive comments is 5 p.m. on Nov. 25. Written comments may be directed to Holly Beeson, Counsel to the Office of Communications and Governmental Affairs, South Carolina Department of Labor, Licensing, and Regulation, P.O. Box 11329, Columbia, SC 29211-1329.

The amended schedule for fees that appears under 10-2. Board of Accountancy is:

1. Individual Application Fee: $5075
2. Individual License:
a. CPA $80120
b. Accounting Practitioner: $80120
3. Annual Renewal of Individual License:
a. CPA/PA: $80120
b. Accounting Practitioner: $80120
4. Individual Licensing Certificate: $20
5. Firm Registration:
a. Out-of-State Firm: $5075
b. In-State Firm: $5075
6. Annual Renewal of Firm Registration:
a. Out-of-State Firm: $5075
b. In-State Firm: $5075
7. Reinstatement of Certificate/License: $500
8. Miscellaneous Fees:
a. Verification/License’s History: $5
b. Wall Certificate Replacement: $20

“While SCACPA supports the efforts by the LLR to properly staff and provide administrative support to the SC Board of Accountancy, we believe the methods used to calculate the increases should be transparent, properly vetted, and communicated,” SCACPA CEO Chris Jenkins said. “We hope to receive the information requested by the Governemental Affairs Committee in a timely fashion so we can make well-informed comments regarding these proposed fee increases. Additionally, we feel the licensees deserve the ability to review this documentation and form their own opinions and provide comments as necessary.”

Document 4923 and Regulation 1‐10 (C) Definition of Client Records Public Comment

SCACPA commends the Board of Accountancy for setting up a task force to comprehensively review and update the regulations with input from stakeholders around the state. The task force’s work has resulted in many changes that make the regulations easier to understand and also reflect current practices in the profession.

We recommend all members review Document 4923 to evaluate the impact that changes may have to future activities. SCACPA has provided the following public comment regarding Regulation 1‐10 (C) Definition of Client Records.

The LLR has scheduled a hearing for comments to be conducted at the Administrative Law Court at 10 a.m. on Dec. 13. If a qualifying request is not timely received, the hearing will be canceled. Written comments may be directed to Susanna Sharpe, Administrator, Board of Accountancy, South Carolina Department of Labor, Licensing and Regulation, P.O. Box 11329, Columbia, SC 29211-1329, no later than 5 p.m. on Nov. 25.

Please continue to monitor the SCACPA blog, our social media and weekly electronic Current Assets newsletter for developments on these topics. SCACPA thanks its members for being actively engaged in efforts that protect and promote the credential in South Carolina.