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 AND INSURANCE 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 CPA or certified public accounting firm, out of which a CPA 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. AUTHORITY: sections 326.262 and 326.289, RSMo Supp. 2009.* This rule originally filed as 4 CSR 10-2.051. Original rule filed Sept. 13, 1978, effective Jan. 13, 1979. Amended: Filed March 14, 1984, effective July 12, 1984. Amended: Filed Oct. 13, 1993, effective May 9, 1994. Amended: Filed April 5, 2004, effective July 30, 2004. Moved to 20 CSR 2010-2.051, effective Aug. 28, 2006. Amended: Filed April 3, 2006, effective Nov. 30, 2006. Amended: Filed Feb. 23, 2010, effective Aug. 30, 2010. *Original authority: 326.262, RSMo 2001 and 326.289, RSMo 2001, amended 2002, 2008.