Renewal of a Certified Public Accounting Firm Permit

PURPOSE: This rule establishes requirements pertaining to the issuance and renewal of the permit to practice public accounting by certified public accounting firms. (1) Each office established, registered or maintained for the practice of public accounting by a certified public accountant (CPA) or certified public accounting firm, out of which a CPA practices or offers to practice public accounting shall obtain a permit with the board annually. Renewal shall be on a form provided by the board and shall include the name and license number of the resident manager of each office. (2) Firm permits shall be issued for a period of one (1) year beginning on November 1 and expiring on October 31 and shall be renewed annually. (3) Permit renewal notifications will be mailed to each applicant at the last known address, provided to the board, at least sixty (60) days before the permit expiration date. Failure to receive this notice does not relieve the firm of the annual obligation to renew the permit to practice. Failure to renew timely may cause the board to assess additional penalties as provided in 20 CSR 2010-2.160. (4) Each certified public accounting firm shall provide the board annually with a completed renewal application form provided by the board and pay all applicable fees as determined by the board. (5) As a part of the annual renewal of each office established and maintained for the practice of public accounting or out of which a CPA practices or offers to practice public accounting, the sole practitioner or partner, president, or managing officer of a certified public accounting firm shall affirm that: (A) All of his or her employees, its resident partners or its members and managers, shareholders in Missouri, or any combination of these, who are Missouri CPAs have applied for a current license to practice public accounting; and (B) All of his or her employees, its resident partners, its members and managers, or shareholders in Missouri, or any combination of these, who hold a CPA license issued by another state have applied for a Missouri CPA license by reciprocity or are granted practice privilege through substantial equivalency. (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 326.262 and 326.289, RSMo Supp. 2009.* This rule originally filed as 4 CSR 10-2.072. Original rule filed April 5, 2004, effective July 30, 2004. Moved to 20 CSR 2010-2.072, 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.