Privilege to Practice

PURPOSE: This rule sets forth requirements for practice privilege of certified public accountants from other states who are not relocating to this state and whose accountancy statutes are substantially equivalent to Missouri, or certified public accountants whose individual qualifications meet the requirements to be considered substantially equivalent. (1) An individual, whose principal place of business, domicile, or residence is not in this state, shall be presumed to have practice privilege in this state and shall be required to conform to, and comply with, Missouri statutes and rules so long as the individual— (A) Has a valid and unrestricted license to practice public accounting from any state whose licensing requirements are determined by the board to be substantially equivalent to the Missouri Accountancy Act; or (B) Has a valid and unrestricted license to practice public accounting from any state and whose individual qualifications are determined by the board or National Association of State Boards of Accountancy (NASBA) National Qualification Appraisal Service to be substantially equivalent to the licensure requirements of the Missouri Accountancy Act; or (C) Has a valid and unrestricted license to practice public accounting from any state, and has practiced as a licensed certified public accountant outside of this state, with experience of the type described in section 326.286.3., RSMo, for a minimum of four (4) years within the immediately preceding ten (10) years, provided that the applicant has a minimum of a bachelor’s degree from an accredited college or university and has passed the uniform certified public accountant examination. (2) Any individual who has a valid but restricted license that otherwise meets the provisions of section (1), shall apply to the board in writing, on a form provided by the board, for practice privilege. (3) Individuals who have practice privilege in this state shall notify the board within thirty (30) days if they have violated any of the causes set forth in section 326.310.2., RSMo. (4) By entering and practicing public accounting in this state, in person, by mail, telephone, or through electronic means, the licensee shall be required to conform to, and comply with, Missouri statutes and rules. (5) An individual with practice privilege who is providing attest services for a client with a home office in Missouri must do so through a firm holding a current permit to practice in this state. (6) An individual with practice privilege may provide compilation or review services provided the licensee is associated with a firm holding a current permit to practice in this or any other state. (7) The lack of a Missouri license, practice privilege or otherwise, shall not prevent the board from having disciplinary authority over any individual practicing public accounting in Missouri. AUTHORITY: sections 326.256.1.(9), 326.283.1.(1), and 326.286.3., RSMo Supp. 2011.* This rule originally filed as 4 CSR 10-2.022. Emergency rule filed Nov. 15, 2001, effective Nov. 25, 2001, expired May 23, 2002. Original rule filed Nov. 15, 2001, effective June 30, 2002. Amended: Filed Nov. 13, 2002, effective June 30, 2003. Moved to 20 CSR 2010-2.022, effective Aug. 28, 2006. Rescinded and readopted: Filed April 3, 2006, effective Nov. 30, 2006. Amended: Filed Feb. 23, 2010, effective Aug. 30, 2010. Amended: Filed Dec. 2, 2011, effective June 30, 2012. *Original authority: 326.256, RSMo 2001, amended 2002, 2008; 326.283, RSMo 2001, amended 2002, 2008; and 326.286, RSMo 2001, amended 2002.