Renewal of Licenses

PURPOSE: This rule clarifies requirements of the statutes pertaining to the renewal of the license to practice public accounting by certified public accountants and public accountants in this state. (1) Licenses shall be issued for a licensing period of two (2) years beginning on October 1 and expiring on September 30 and shall be renewed biennially. (2) Each certified public accountant (CPA) shall provide the board with the following information at the time of application for renewal of his or her individual license to practice: (A) Residence address; (B) Business connection or employer; (C) Business address; (D) Verification that the individual has met the Continuing Professional Education (CPE) requirements as described in Chapter 4; (E) Details regarding any conviction of any criminal offense other than a minor traffic violation whether or not a sentence is imposed or executed; (F) Details regarding any suspension, revocation or cancellation of the certificate or permit to practice by any jurisdiction; details regarding any suspension, revocation or restriction of his or her right to practice by the Internal Revenue Service, Securities Exchange Commission, Public Company Accounting Oversight Board, or any other federal or state agency; (G) Details regarding any judgments rendered against the licensee for professional malpractice; (H) Details regarding any willful violation of the rules and standards of professional conduct governing the practice of public accounting; (I) Each licensee shall report to the board any revocation, suspension, restriction, modification, limitation, reprimand, warning, censure, probation or other final disciplinary action to practice any profession regulated by this chapter, or by another state, territory, federal agency or country, whether voluntarily agreed to by the certified public accountant or applicant, including but not limited to the denial of licensure, surrender of a license, allowing a license to expire or lapse, or discontinuance or limitation of a professional practice while subject to an investigation or while actually under investigation by any licensing authority, branch of the armed forces of the United States of America, court, agency of the state or federal government; and (J) Each licensee shall notify the board in writing within thirty (30) days of any change in subsections (2)(A) through (2) (I) above occurring during the licensing period. (3) All employees, representatives, agent, resident partners, members, managers and shareholders of certified public accounting firms practicing public accounting in Missouri who have held a Missouri certificate issued prior to August 28, 2001 or who received an initial license on or after August 28, 2001 are required to have an active Missouri license to practice in a certified public accounting firm. (4) License renewal notifications will be mailed to each licensee at the last known address at least sixty (60) days before the license expiration date. Failure to receive this notice does not relieve the licensee of the obligation biennially to renew the license to practice. (5) Before a current license to practice will be issued, an applicant must pay all required fees and penalties, including any fees and penalties owed for periods during which the applicant was engaged in the practice of public accounting in Missouri. No license shall be issued or reinstated until all required fees and penalties are paid by the applicant. (6) 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 324.001.11(2), 326.262, and 326.286, RSMo Supp. 2009.* This rule originally filed as 4 CSR 10-2.070. Original rule filed Sept. 11, 1974, effective Sept. 21, 1974. Rescinded and readopted: Filed Sept. 13, 1978, effective Jan. 13, 1979. Amended: Filed Aug. 6, 1981, effective Dec. 11, 1981. Amended: Filed Feb. 9, 1982, effective May 13, 1982. Amended: Filed March 14, 1984, effective July 12, 1984. Amended: Filed April 18, 1989, effective July 27, 1989. Amended: Filed Oct. 13, 1993, effective May 9, 1994. Amended: Filed April 5, 2004, effective July 30, 2004. Moved to 20 CSR 2010-2.070, effective Aug. 28, 2006. Amended: Filed April 3, 2006, effective Nov. 30, 2006. Amended: Filed Feb. 23, 2010, effective Aug. 30, 2010. *Original authority: 324.001, RSMo 2008, amended 2009; 326.262, RSMo 2001; and 326.286, RSMo 2001, amended 2002.