§ 101. Objectives and functions. The primary objective of the Board of Accountancy, to which all other objectives and purposes are secondary, is to protect the general public (specifically those persons who are direct recipients of services regulated by this chapter) from unsafe practices, including incompetent auditing, accounting and tax services rendered by certificate and […]
§ 103. Board of Accountancy; appointments; qualifications; term; vacancies. (a) There is created a State Board of Accountancy which shall administer and enforce this chapter. (b) The Board shall consist of 9 members who are residents of this State and are appointed by the Governor, as follows: (1) Five certified public accountants, all of whom […]
§ 104. Officers; meetings; conduct of business; quorum; absences. (a) The Board shall hold a regularly scheduled business meeting at least once in each quarter of a calendar year and at such other times as the president may deem necessary, or at the request of a majority of Board members. (b) The Board shall elect […]
§ 105. Powers and duties. (a) The Board of Accountancy shall have the authority to: (1) Formulate rules and regulations, with appropriate notice to those affected. Each rule or regulation shall implement or clarify a specific section of this chapter. All rules and regulations shall be promulgated in accordance with the procedures specified in the […]
§ 106. Certificate or permit required. (a) The use of the title or designation “certified public accountant” or the abbreviation “CPA” or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate that a person is a certified public accountant shall be limited to a person who holds an active permit […]
§ 107. Requirements and qualifications for a permit to practice as a certified public accountant [Effective Jan. 1, 2023]. (a) Each person who is engaged in the practice of certified public accountancy and whose principal place of business is in this State, whether as a principal or employee of a firm, shall be required to […]
§ 107. Requirements and qualifications for a permit to practice as a certified public accountant [Effective until Jan. 1, 2023]. (a) Each person who is engaged in the practice of certified public accountancy and whose principal place of business is in this State, whether as a principal or employee of a firm, shall be required […]
§ 108. Issuance and renewal of CPA permits to practice and maintenance of competency; reciprocity. (a) The Board shall grant or renew permits to practice to persons who make application and demonstrate that: (1) Their qualifications, including where applicable the qualifications prescribed by § 107 of this title, are in accordance with the following subsections […]
§ 109. Substantial equivalency. (a) (1) An individual whose principal place of business is not in this State and who holds a valid license as a certified public accountant from any state which the NASBA National Qualification Appraisal Service has verified to be in substantial equivalence with the CPA licensure requirements of the AICPA/NASBA Uniform […]
§ 110. Requirements for permits to practice public accountancy [Effective Jan. 1, 2023]. (a) Each person who intends to be or is engaged in the practice of public accountancy in this State, whether as a principal of a firm or an employee of a firm, shall be required to obtain and maintain a valid permit […]
§ 110. Requirements for permits to practice public accountancy [Effective until Jan. 1, 2023]. (a) Each person who intends to be or is engaged in the practice of public accountancy in this State, whether as a principal of a firm or an employee of a firm, shall be required to obtain and maintain a valid […]
§ 111. Requirements for permits to practice by firms. (a) Each firm with an office in this State and which intends to be or is engaged in the practice of certified public accountancy or the practice of public accountancy in this State shall be required to obtain and maintain a valid permit to practice. The […]
§ 112. Professional responsibilities. While § 111(a) of this title requires firms to obtain permits to practice, and § 102(10) of this title defines “firm” to include valid partnerships and corporations, this chapter shall not be interpreted to alter professional responsibility standards. All firms and accountants practicing in firms shall continue to be bound by […]
§ 113. Examinations. The Board may, by regulation, prescribe the terms and conditions for granting credit to a candidate for a permit to practice certified public accountancy or an applicant for a permit to practice public accountancy based on the candidate’s or applicant’s satisfactory completion of an examination in any 1 or more of the […]
§ 115. Prohibited acts; limitation of services. (a) No person or firm shall perform compilation, review or audit services, as defined by the American Institute of Certified Public Accountants (AICPA), except holders of a valid permit to practice. (b) Audit services provided by holders of permits to practice public accountancy shall be limited to services […]
§ 116. Complaints. (a) The Board or any aggrieved person may file a complaint against any individual or firm holding a permit to practice or any certificate holder. All complaints shall be received and investigated by the Division in accordance with § 8735 of Title 29, and the Division shall be responsible for issuing a […]
§ 117. Unprofessional conduct. An individual holding a certificate and any individual or firm holding a permit to practice shall be subject to those disciplinary actions set forth in § 118 of this title if, after a hearing, the Board finds that the individual or firm: (1) Has employed or knowingly cooperated in fraud or […]
§ 118. Disciplinary sanctions. (a) The Board may impose any of the following sanctions or take any of the following actions, singly or in combination, when it finds that 1 or more of the conditions or violations set forth in § 117 of this title applies to a certificate or permit holder or to an […]
§ 119. Board hearings; procedures. (a) If a complaint is filed with the Board pursuant to § 8735 of Title 29, alleging violation of § 117 of this title, the Board shall set a time and place to conduct a hearing on the complaint. Notice of the hearing shall be given and the hearing conducted […]
§ 120. Ownership of working papers. (a) All statements, records, schedules, working papers and memoranda made by a permit holder or a partner, shareholder, officer, director or employee of a permit holder, incident to or in the course of rendering services to a client, except the reports submitted by the permit holder to the client, […]
