Or. Admin. R. 801-030-0040 - Notification to Clients

(a) Licensees transferring to a new Firm, leaving the practice of public accountancy, or selling their practice must notify clients within 60-days of transition by providing:
(A) The name and location of where the client may retrieve their records;
(B) The location and name of the new firm; or
(C) The name and location of the licensee who is in possession of the records.
(b) Licensee must provide to clients a consent to transfer their records to the new location.
(2) Notification to clients for Sole Practitioners.
(a) Sole practitioners have duty to safeguard Client records, funds and property in their possession or under the licensees control in the event the licensee is incapacitated, disappears or dies.
(b) The sole practitioner shall provide for continuing services to a client or ensure that, in the event that licensee is incapacitated, disappears, or dies:
(A) Clients are promptly notified;
(B) Client records, property and funds belonging to a client are securely maintained; and
(C) Those client records, property, and funds are promptly made available or returned to the respective clients.
(c) Sole Practitioners shall designate a partner, personal representative, or other responsible party to assume responsibility for client files in the event the licensee is incapacitated, disappears, or dies.
(d) The Board will require sole practitioners to provide to the Board the point of contact no later than December 31, 2021.
(e) Sole practitioners must provide to the Board biannually on the firm renewal application, if registered, or on their individual renewal, any update to the point of contact.


Or. Admin. R. 801-030-0040
BOA 1-2019, adopt filed 12/19/2019, effective 1/1/2020

Statutory/Other Authority: 673.380 & 673.410

Statutes/Other Implemented: 673.410

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