20 CSR 2010-2.051 - Registration of Certified Public Accounting Firms
PURPOSE: This rule clarifies the requirements of section 326.289, RSMo for registration of certified public accounting firms.
(1) Each certified public accounting firm
shall provide the board with a completed initial firm permit application form
provided by the board and pay all applicable fees as determined by the
board.
(2) Applications for
approval of the permit of a certified public accounting firm shall be filed
with the board prior to the date the firm begins the practice of public
accounting in this state.
(3) If a
partner, member or shareholder is admitted or a partner, member or shareholder
withdraws and there is a resulting change in the name of the certified public
accounting firm, it shall be considered by the board as a new firm, which must
file an application for a permit to practice.
(4) All out-of-state certified public
accounting firms that practice public accounting in this state shall comply
with Chapter 326, RSMo, and all other applicable Missouri statutes.
(5) Each office established, registered or
maintained for the practice of public accounting by a C PA or certified public
accounting firm, out of which a C PA practices or offers to practice public
accounting shall be registered with the board annually. Application shall be on
a form provided by the board and shall include the name and license number of
the resident manager of each office.
(6) Notice shall be given to the board within
thirty (30) days of any change of an office address, change of resident manager
for an existing office, the address of any additional office opened for the
practice of public accounting or of the closing of any office. No form is
provided by the board for this notice, but the notice must be in writing and
must be clearly headed with "Notice of New Office," "Change of Address of
Office," "Change of Resident Manager" or "Closing of Office" and in the case of
a new office must contain the name and license number of the resident
manager.
(7) Before a current
permit to practice will be issued an applicant must pay all required fees and
penalties that were not paid previously for all years the applicant was engaged
in the practice of public accounting in Missouri. No permit shall be issued or
reinstated until all required fees and penalties are paid by the
applicant.
(8) Each certified
public accounting firm shall attest that all employees, representatives,
agents, resident partners, members, managers and shareholders of certified
public accounting firms practicing public accounting in Missouri who have held
a Missouri certificate issued under prior law or any individual who received an
initial license on or after August 28, 2001 hold an active Missouri license to
practice in a certified public accounting firm.
(9) The change of majority ownership, form of
organization (i.e., professional corporation (P.C.), limited liability company
(L.L.C.), etc.), or name or title of the firm, shall require the issuance of a
new permit to practice public accounting with the completion of an initial firm
permit application form provided by the board and payment of all applicable
fees as determined by the board.
(10) In the event a firm through which the
practicing CPAs are licensed, and there is no physical location for the firm
within the state of Missouri, the firm shall complete the form for such
practice as provided by the board and payment of all applicable fees as
determined by the board. The firm permit shall only be valid for such time that
the firm has an active provisional licensee in the state of Missouri. If the
firm opens or operates a firm location within the state of Missouri, the firm
is required to complete an initial firm permit application and pay all
applicable fees as determined by the board.
(11) The name of the firm shall not be
misleading nor shall it include words or phrases that are quantitative or
qualitative such as: "biggest," "best," "finest," "cheapest," etc.
(12) The name of sole proprietorships or sole
practitioners shall not include the words "and Associates," "Company," "and
Company," or any designation that implies there is multiple or corporate
ownership. Sole proprietorships and sole practitioners shall only use a
business name that is in the singular form or represents itself in a neutral
manner.
(13) Names of one (1) or
more past partners, members or shareholders may be included in the firm name of
a partnership, limited liability company, or professional corporation or its
successor. A partner surviving the death or withdrawal of all other partners
may continue to practice under a partnership name for up to two (2) years after
becoming a sole proprietorship or a sole practitioner.
(14) The provisions of this rule are declared
severable. If any provision of this rule is held invalid by a court of
competent jurisdiction, the remaining provisions of this rule shall remain in
full force and effect, unless otherwise determined by a court of competent
jurisdiction to be invalid.
Notes
*Original authority: 326.262, RSMo 2001 and 326.289, RSMo 2001, amended 2002, 2008.
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