reglab/statecodes huggingface dataset:
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.07 - Enterprise

Current through Rules and Regulations filed through June 27, 2024
"Enterprise" shall be deemed and construed to mean any individual(s) or entity, whether organized for profit or not, for which a practitioner or his or her firm provides professional services.
O.C.G.A. Sec. 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.08 - Financial Statements

Current through Rules and Regulations filed through June 27, 2024
"Financial Statements" shall be deemed and construed to mean statements and footnotes related thereto that purport to show financial position which relates to a point in time or changes in financial position which relates to a period of time, and statements which use a cash or other comprehensive basis of accounting. Incidental financial data included in management advisory services reports to support recommendations to a client, and tax returns and supporting schedules do not, for purposes of these Rules, constitute financial statements, and the statement, affidavit or signature of preparers required on tax returns neither constitutes an opinion on financial statements nor requires a disclaimer of such opinion.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.09 - Firm

Current through Rules and Regulations filed through June 27, 2024
"Firm" means any proprietorship, partnership, corporation, association, or any other legal entity which is practicing public accountancy.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.10 - Generally Accepted Accounting Principles

Current through Rules and Regulations filed through June 27, 2024
"Generally accepted accounting principles" shall be deemed and construed to mean accounting principles or standards generally accepted in the United States, including, but not limited to, Accounting Principles Board Opinions as published by the American Institute of Certified Public Accountants and Statement of Financial Accounting Standards, as published by the Financial Accounting Standards Board.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.11 - Generally Accepted Auditing Standards

Current through Rules and Regulations filed through June 27, 2024
"Generally accepted auditing standards" shall be deemed and construed to mean the generally accepted auditing standards set forth in statements issued by the American Institute of Certified Public Accountants, and adopted by the Board together with interpretations thereof.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.12 - License

Current through Rules and Regulations filed through June 27, 2024
"License" means a certificate, license, or permit issued under Code Sections 43-3-16 or 43-3-18 or under corresponding provisions of a prior law.
O.C.G.A. Secs. 43-3-8, 43-3-16, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.13 - Licensee

Current through Rules and Regulations filed through June 27, 2024
"Licensee" shall be deemed and construed to mean an individual holding a license issued by the Board, or registered with the Board, and holding a license to practice, pursuant to O.C.G.A. Section 43-3; and a firm registered with the Board or licensed to practice pursuant to O.C.G.A. Section 43-3.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.15 - Physical Office

Current through Rules and Regulations filed through June 27, 2024
The "physical office" shall be deemed and construed to mean any space which is maintained by a firm for the practicing of public accountancy, and has any of the following identification:
(a) Listing in a telephone or any other directory;
(b) Name printed on entrance doors, lobby directories, windows, etc.; or
(c) Maintaining any space where someone works regularly or is available for meeting the public.
O.C.G.A. Secs. 43-3-8, 43-3-16.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.16 - Practice of Public Accountancy

Current through Rules and Regulations filed through June 27, 2024
"Practice of, or practicing public accountancy" means offering to perform or performing attest or compilation services or while holding oneself out in such a manner as to state or imply that one is a licensee, offering to perform or performing for an individual or entity one or more types of services involving:
(a) The use of accounting or auditing skills;
(b) Management advisory or other consulting services;
(c) The preparation of tax returns; or
(d) The furnishing of advice on tax matters.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.18 - Professional Engagement

Current through Rules and Regulations filed through June 27, 2024
"Professional Engagement" shall be deemed and construed to mean the association between a client and a practitioner relative to the performance of professional services by the practitioner for the client.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.19 - Professional Services

Current through Rules and Regulations filed through June 27, 2024
"Professional services" shall be deemed and construed to mean any services performed or offered to be performed by a licensee for a client in the course of the practice of public accountancy.
O.C.G.A. Secs. 43-3-8, 43-3-16, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.20 - Public Communication

Current through Rules and Regulations filed through June 27, 2024
"Public Communication" shall be deemed and construed to mean a communication made in identical form to multiple individuals or to the world at large, as by television, radio, motion picture, newspaper, pamphlet, mass mailing, letterhead, business card or directory.
O.C.G.A. Secs. 43-3-243-3-8, 43-3-31.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.21 - Purport, or Purporting to Result From

Current through Rules and Regulations filed through June 27, 2024
"Purport, or purporting to result from" shall be deemed and construed to mean: having the appearance of being; claiming or intending; intending to show; signifying; implying.
O.C.G.A. Secs. 43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-2 - DEFINITIONS › Rule 20-2-.22 - State

Current through Rules and Regulations filed through June 27, 2024
"State" means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, the Commonwealth of the Northern Marianas Islands, and Guam; except "this state" means the state of Georgia and "any other state" means a state other than Georgia.
O.C.G.A. §§
									43-3-2, 43-3-8.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.01 - Examination

Current through Rules and Regulations filed through June 27, 2024
Except as otherwise provided in this Chapter, the Uniform CPA Examination shall be the examination provided for in O.C.G.A. Section 43-3-10.
O.C.G.A. Secs. 43-3-8, 43-3-9, 43-3-10.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.02 - Qualification of Applicants

Current through Rules and Regulations filed through June 27, 2024
(1) In order to be eligible for examination, an applicant must have received a baccalaureate degree conferred or completed the requirements for the baccalaureate degree, by a college or university accredited by a national or regional accrediting organization recognized by the Board with a concentration in accounting or, with a non-accounting concentration, supplemented by what the Board determines to be the substantial equivalent to an accounting concentration. Applicants must have completed 30 quarter hours or 20 semester hours in accounting subjects above the elementary level at a four-year accredited college or university which offers a baccalaureate degree.
(2) For the purpose of equating semester and quarter hours, the following formulas are used:
1.5 x semester hours = quarter hours
2/3 x quarter hours = semester hours
O.C.G.A. Secs. 43-3-8, 43-3-9, 43-3-10.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.03 - Applications for Examination

Current through Rules and Regulations filed through June 27, 2024
(1) All applications for examination and re-examination, together with the required fee shall be submitted to the designated agent of the Board by the application deadline on the application materials. It is the responsibility of the applicant to make timely delivery of the appropriate form and designated fee.
(2) The Board through its designated agent will provide reasonable accommodation to a qualified applicant with a disability in accordance with the Americans With Disabilities Act. The request for an accommodation by an individual with a disability must be in writing and received by the designated agent of the Board by the application deadline along with appropriate documentation, as indicated in the Request for Disability Accommodation Guidelines.
O.C.G.A. Secs. 43-3-7, 43-3-8, 43-3-9, 43-3-10.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.04 - Retake and granting of credit requirements

Current through Rules and Regulations filed through June 27, 2024
(1) A Candidate may take the required Test Sections individually and in any order. Credit for any Test Section(s) passed shall be valid for a period of eighteen (18) months and be calculated from the actual date the Candidate took that Test Section, without having to attain a minimum score on any failed Test Section(s) and without regard to whether the Candidate has taken other Test Sections.
(a) Candidates must pass all Test Sections of the examination within a rolling eighteen (18) month period, which begins on the date that the first Test Section(s) passed is taken.
(b)
1. Subject to subsection (1)(b) 2., Candidates cannot retake a failed Test Section(s) in the same testing window. A testing window is equal to a calendar quarter (January-March, April-June, July-September, October- December). Candidates will be able to test no less than two (2) months out of each testing window.
2. If the Board determines that the examination system changes necessary to eliminate the test window limitations have been implemented, subsection (1) will no longer be effective, and a Candidate can retake a Test Section once their grade for any previous attempt of that same Test Section has been released.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.05 - Cheating

Current through Rules and Regulations filed through June 27, 2024
(1) Cheating by an applicant in applying for, taking or subsequent to the examination will be deemed to invalidate any grade otherwise earned by an applicant on any test section of the examination and may warrant summary expulsion from the test site and disqualification from taking the examination for a specified period of time.
(2) For purposes of this rule, the following actions or attempted activities, among others, may be considered cheating:
(a) Falsifying or misrepresenting educational credentials or other information required for admission to the examination;
(b) Communication between applicants while the examination is in progress both inside or outside the test site or copying another applicant's answers;
(c) Communication with others inside or outside the test site while the examination is in progress;
(d) Substitution of another individual to sit in the test site in place of the actual applicant;
(e) Violating the nondisclosure prohibitions of the examination or aiding or abetting another in doing so; or
(f) Retaking or attempting to retake a test section by an individual holding a valid license or by an applicant who has unexpired credit for having already passed the same test section, unless the individual or applicant has been expressly directed to retake the test section pursuant to a Board order or expressly authorized by the Board to retake the test section to participate in a "secret shopper" program.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.06 - Examination Credits from Any Other States or Foreign Applicants

Current through Rules and Regulations filed through June 27, 2024
(a) The Board will accept credit on the Uniform Certified Public Accountant examination earned as an applicant of another state provided the applicant meets the legal requirements of this state for admission to the examination and that the credits which were earned in such state would have been earned had the Rules of Section 20-3-.04 above been in effect.
(b) A foreign applicant shall be deemed to have satisfied the examination requirement of O.C.G.A. Sections 43-3-9 and 43-3-10 by providing proof of having passed the International Certified Public Accountant Qualification Examination.
O.C.G.A. Secs. 43-3-8, 43-3-9, 43-3-10, 43-3-12.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.07 - Examination Fee

Current through Rules and Regulations filed through June 27, 2024
Fees for the administration of the examination will be established by Board policy in order that all costs for examination administration are recovered. All fees related to the examination shall be published on the application for examination.
O.C.G.A. Secs. 43-3-7, 43-3-8, 43-3-10.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.09 - Individual Practice Priviledges and Reciprocity

Current through Rules and Regulations filed through June 27, 2024
(1) An individual already licensed in another state who becomes a resident of this state, establishes a physical office in this state, or whose office location is the physical office of a firm in this state may qualify for a reciprocal license under Code Section 43-3-12 and must apply on a form for the purpose provided by the Board and obtainable from its Office. The application must be accompanied by a fee in the amount established by Board policy; as well as an affidavit that the individual is a United States citizen, a legal permanent resident of the United States, or that he/she is a qualified alien or non-immigrant under the Federal Immigration and Nationality Act. If the individual is not a U.S. citizen, he/she must submit documentation that will determine his/her qualified alien status. The Board participates in the DHS-USCIS SAVE (Systematic Alien Verification for Entitlements or "SAVE") program for the purpose of verifying citizenship and immigration status information of non-citizens. If the individual is a qualified alien or non-immigrant under the Federal Immigration and Nationality Act, he/she must provide the alien number issued by the Department of Homeland Security or other federal immigration agency. Individuals practicing under this Rule  20-3-.09  may not practice in this state under Code Section 43-3-18(b).
(2) An individual whose residence and office location is and remains outside this state may elect to exercise substantial equivalency practice privileges in this state under Code Section 43-3-18(b) without the requirement to obtain a license, certificate, or registration with the Board or pay a fee provided the individual holds a current and unencumbered license as a CPA in a state which grants similar practice privileges to license holders in this state.
(3) An individual whose residence and office location is and remains outside this state may apply for a reciprocal license under Code Section 43-3-12.
O.C.G.A. Secs. 43-3-7, 43-3-8, 43-3-10, 43-3-12, 43-3-18, 50-36-1.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-3 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS - CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-3-.10 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-24.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.01 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-3-5, 43-3-13, 43-3-14.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.02 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-2, 43-3-5, 43-3-13, 43-3-14.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.03 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-13, 43-3-14.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.04 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-3-5, 43-3-13, 43-3-14.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.05 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-19, 43-3-5, 43-3-13, 43-3-14, 43-3-28.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.06 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-3-5, 43-3-13, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.07 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-13, 43-3-14, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.08 - Repealed

Current through Rules and Regulations filed through June 27, 2024
O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-13, 43-3-24.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.09 - Repealed

Current through Rules and Regulations filed through June 27, 2024
Authority O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-13, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-4 - EXAMINATIONS, APPLICATIONS FOR CERTIFICATES, AND TEMPORARY PERMITS-REGISTERED PUBLIC ACCOUNTANTS › Rule 20-4-.10 - Repealed

Current through Rules and Regulations filed through June 27, 2024
Authority O.C.G.A. Secs. 43-1-7, 43-3-5, 43-3-13, 43-3-24.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-6 - CORPORATIONS FOR THE PRACTICE OF PUBLIC ACCOUNTANCY › Rule 20-6-.01 - Professional Corporations Practicing Public Accountancy

Current through Rules and Regulations filed through June 27, 2024
Professional service corporations organized under the Georgia Professional Corporation Act practicing public accountancy, in addition to matters covered by other Rules of the Board, shall comply with the following:
(a) All shares of stock shall be owned by CPAs;
(b) All of the directors shall be CPAs;
(c) The chief executive officer shall be a CPA;
(d) Revocation or suspension of the CPA license held by a shareholder, a director or the chief executive officer shall also effect a corresponding revocation or suspension of the right to practice public accountancy by the professional service corporation, unless the Board specifically grants a continuance of such right to practice.
O.C.G.A. Secs. 43-3-8, 43-3-16, 14-7-1
et seq.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-7 - INDIVIDUALS, PARTNERSHIPS, ASSOCIATIONS AND CORPORATIONS COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-7-.01 - Licensure

Current through Rules and Regulations filed through June 27, 2024
(1) A new firm having a physical office in this state about to engage in the practice of public accountancy in this state or a firm not having a physical office in this state but required to be licensed under 43-3-16(b)(1)(C) shall make application for original licensure upon forms for that purpose provided by the Board and obtainable from its Office. Upon such application being found sufficient and in order, the application fee paid, and the applicant found eligible for licensure, the applicant:
(a) Will be forthwith licensed under the appropriate Section of the Act;
(b) Will have its physical office(s) in this state as designated in the application forthwith licensed under Section 43-3-16 of the Act;
(c) Will be issued a permit to practice public accounting in this state; and
(d) Will be notified accordingly.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-7 - INDIVIDUALS, PARTNERSHIPS, ASSOCIATIONS AND CORPORATIONS COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-7-.02 - Firm Ownership

Current through Rules and Regulations filed through June 27, 2024
(1) A firm in which a simple majority of the financial interest and voting rights are owned by CPAs of some state in good standing may be licensed in accordance with this chapter if all of the following conditions are met:
(a) Minimum Required Information: The firm must provide the following information:
1. The name, full business address, and telephone number;
2. All trade or business names used by the licensee;
3. The designated holder of a license, or in the case of a firm which must be licensed pursuant to Code Section 43-3-16(b)(1)(C), a licensee of another state who meets the requirements for substantial equivalency practice privileges as provided by Code Section 43-3-18(b), who shall be responsible for the proper registration of the firm;
4. The name, address and licensure status of the resident manager;
5. The type of ownership or operations (i.e., partnership, corporation, or sole proprietorship); and
6. The name(s) of the owners, including whether they are a CPA or Non-CPA owner, the states of licensure, the status of any license previously and currently held, and including:
(i) If an individual, the name of the individual;
(ii) If a partnership, the name of each partner, and the name of the partnership;
(iii) If a corporation, the name and title of each corporate officer and director, the corporate names, the name of the corporation, the name of the parent company, if any, the names of all members/shareholders of the corporation and parent company; and
(iv) If a sole proprietorship, the full name of the sole proprietorship and the name of the business entity.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-7 - INDIVIDUALS, PARTNERSHIPS, ASSOCIATIONS AND CORPORATIONS COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-7-.03 - Minimum Standards of Practice

Current through Rules and Regulations filed through June 27, 2024
A firm granted a license in Georgia must comply with the minimum standard of practice, including, but not limited to the following standards of practice:
(a) Non-CPA owners' names may be listed on firm stationery provided that if Non-CPA owners are designated as partners, shareholders, or members then all CPA owners must also be so designated.
(b) Non-CPA owners may not be listed in any advertisement under the heading.
(c) Membership in accounting organizations or their logos may not be used on CPA firm stationery, business cards, or advertising materials unless all eligible partners are members of the organization and have attained the certification or designation indicated by the logo.
(d) A Non-CPA owner may not be designated as the resident manager of a physical office of the firm.
(e) A Non-CPA owner may not be the chief executive officer of a firm located in or doing business in this state.
(f) An individual who owns a voting equity interest in a firm may not delegate by proxy or otherwise, the duty to exercise any voting rights to an individual that does not qualify as owner under the laws and rules of this state.
(g) A Non-CPA owner who becomes disqualified from ownership must dispose of his or her entire interest in the firm to a qualified owner within 60 days of the date of disqualification.
(h) Owners who are CPAs and whose office location is in this state and who perform accounting services in this state must hold a license from this state.
(i) Changes in any information from the application shall be submitted to the Board within 30 days of such change, including, but not limited to, changes in business organization, changes in ownership, changes in business location, and changes in resident manager.
O.C.G.A. Secs. 43-3-2, 43-3-8, 43-3-16, 43-3-17, 43-3-21, 43-3-22, 43-3-24, 43-3-25, 43-3-30, 43-3-31.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-7 - INDIVIDUALS, PARTNERSHIPS, ASSOCIATIONS AND CORPORATIONS COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-7-.04 - Repealed

Current through Rules and Regulations filed through June 27, 2024
Ga. L. 1935, p. 90, 1943, pp. 363, 366.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-7 - INDIVIDUALS, PARTNERSHIPS, ASSOCIATIONS AND CORPORATIONS COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS › Rule 20-7-.05 - Repealed

Current through Rules and Regulations filed through June 27, 2024
Ga. L. 1943, pp. 363, 366.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-8 - REGISTRATION REQUIREMENTS FOR ACCOUNTING FIRMS › Rule 20-8-.01 - Firms Required to Be Licensed - Biennial Licensure

Current through Rules and Regulations filed through June 27, 2024
(1) A firm that does not have a physical office in this state but performs any audit or any other engagement to be performed in accordance with the Statements on Auditing Standards, any examination of prospective financial statements to be performed in accordance with the Statements on Standards for Attestation Engagements or any engagement to be performed in accordance with the auditing standards of the Public Company Accounting Oversight Board for a client that specifies a location in this state to which such service is directed shall be required to obtain a license biennially with the Board in accordance with this Chapter.
(a) A firm required to be licensed with the Board under 43-3-16(b)(1)(C) between biennial reporting periods shall obtain a license with the Board on a form obtained from the Board within 60 days of the date when such license requirement first becomes effective. Failure to timely obtain a license will result in a penalty.
(b) The licensure fee for a firm is $150.00
(c) The penalty for a firm to fail to timely obtain a license is $250.00 in addition to the licensure fee.
(d) The renewal fee for a firm is $150.00.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-8 - REGISTRATION REQUIREMENTS FOR ACCOUNTING FIRMS › Rule 20-8-.02 - Firms not Required to Be Licensed

Current through Rules and Regulations filed through June 27, 2024
(1) A firm that does not have a physical office in this state may perform compilation or review services to be performed in accordance with Statements on Standards for Accounting and Review Services described in subsection (E) of paragraph 2 of Code Section 43-3-2 for a client having its office in this state without obtaining a license from the Board if:
(a) Such firm complies with the ownership requirements of Code Section 43-3-16.
(b) Such firm participates in a peer review whose standards at a minimum comply with the "Standards for Performing and Reporting on Peer Review" promulgated by the American Institute of Certified Public Accountants in a manner consistent with the timing and completion requirements of Code Section 43-3-17.
Such firm provides services through an individual with practice privileges under subsection (c) of Code Section 43-3-18 related to substantial equivalency practice privileges. Practice privileges under subsection (b) of Code Section 43-3-18 are not permitted for an individual unless that individual holds a current and unencumbered license as a CPA in a state which grants similar practice privileges to license holders in this state.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-9 - OFFICES › Rule 20-9-.01 - Registration

Current through Rules and Regulations filed through June 27, 2024
(1) Each physical office established or maintained for practice in this state by a CPA, partnership, professional association, or professional corporation of CPAs, or by a public accountant, partnership, or professional association of public accountants, or by a foreign accountant, shall register with the Board within sixty days after it is opened.
(a) The registration fee for a sole practitioner, for a partnership, or for an association or corporation is $150.00.
(b) The renewal fee for office registration of a sole practitioner, a partnership, or an association or corporation is $150.00.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-9 - OFFICES › Rule 20-9-.02 - Resident Manager

Current through Rules and Regulations filed through June 27, 2024
The Board shall not register an office for the purpose of public accountancy unless a Resident Manager has been designated to be in full and continuous charge.
(a) The Resident Manager must hold a license in this state.
(b) The Resident Manager must assume full responsibility for the supervision of the office to which he or she has been designated as resident manager.
(c) Notice shall be given to the Board, within thirty days, of any change in the position of Resident Manager.
1. In the event any physical office shall be temporarily without a Resident Manager, a grace period must be requested. The grace period may extend to six months.
2. The request for a grace period must be in writing, and must include how the operation of the office will be carried out during this period.
3. One renewal of the grace period may be requested; however, cause must be shown for this extension.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-10 - PERMITS TO PRACTICE ISSUED TO INDIVIDUALS › Rule 20-10-.01 - Licenses to Practice Issued to Individual

Current through Rules and Regulations filed through June 27, 2024
A license to engage in the practice of public accountancy in this state will be issued to each individual who has been approved for licensure as a CPA.
O.C.G.A. Secs. 43-3-8, 43-3-9, 43-3-11, 43-3-12, 43-3-13, 43-3-15, 43-3-18.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-10 - PERMITS TO PRACTICE ISSUED TO INDIVIDUALS › Rule 20-10-.02 - Biennial Renewal

Current through Rules and Regulations filed through June 27, 2024
(1) All licenses to practice public accountancy in this state issued to individuals will expire on December 31 of each odd numbered year and shall be biennially renewable.
(2) Without a current license, it is unlawful to practice public accountancy in this state.
(3) Applications for biennial renewal must be submitted on or before the expiration date of December 31. Applications may be submitted electronically or via the U.S. Postal Service. For applications submitted via the U.S. Postal Service, a U.S. Postal Service postmark will be considered the date of submission.
(4) Every application by an individual for renewal of a license must be accompanied by a renewal fee and must include affirmation that all applicable continuing professional education requirements, as provided in O.C.G.A. Section 43-3-19 and Chapter 20-11 of the Rules have been met.
(5) In addition, the applicant for renewal must notify the Board of the applicant's current mailing address, and such other information as the Board may require.
(6) The fee for biennial renewal is $100.00.
O.C.G.A. Secs. 43-3-7, 43-3-8, 43-3-18, 43-3-19.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-10 - PERMITS TO PRACTICE ISSUED TO INDIVIDUALS › Rule 20-10-.03 - Penalty Period (Late Renewal)

Current through Rules and Regulations filed through June 27, 2024
(1) Renewal applications submitted during the four months penalty period following license expiration will be considered penalty period applications.
(2) Penalty period applications must be accompanied by a penalty fee of $100.00, an affirmation that the continuing professional education requirements set forth in Chapter 20-11 of the Rules have been met prior to the license expiration date, and such other information as the Board may require.
(3) Licenses which have not been renewed prior to or during the penalty period in accordance with Rules  20-10-.02  or  20-10-.03  may not be renewed; provided however, that the holder thereof may apply for reinstatement.
(4) During the penalty period, without a current license it is unlawful to practice public accountancy in this state.
O.C.G.A Secs. 43-3-7, 43-3-8, 43-3-18, 43-3-20.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-10 - PERMITS TO PRACTICE ISSUED TO INDIVIDUALS › Rule 20-10-.04 - Reinstatement

Current through Rules and Regulations filed through June 27, 2024
(1) An application for reinstatement of an expired license shall be accompanied by:
(a) A reinstatement fee of $300.00; and
(b) Evidence, satisfactory to the Board, of the completion of continuing professional education as specified below:
1. Forty hours of continuing professional education for each year since the last renewal of the license or since the initial issuance of the license, whichever is less, up to a maximum of 160 hours.
2. At least twenty percent of the total hours required must be earned in accounting and auditing subjects.
3. At least 80 of the continuing professional education hours must have been completed during the 2-year period immediately preceding the date of application for reinstatement.
4. The hours required may be counted toward fulfilling the continuing professional education requirements for the next biennial renewal, if they were completed during the applicable period for renewal.
5. No carryover hours may be used to satisfy continuing professional education requirements for reinstatement of an expired license.
(c) The Board may, however, accept in lieu of the continuing professional education requirements other evidence of continued competency including, but not limited to, the passing of an examination approved by the Board.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-11 - CONTINUING PROFESSIONAL EDUCATION › Rule 20-11-.01 - Introduction

Current through Rules and Regulations filed through June 27, 2024
(1) CPAs by virtue of their training have been certificated or licensed by the Board and, therefore, are eligible to provide the public with needed professional services not otherwise available. In furnishing these services, the CPA occupies a unique position of public trust. It is essential in maintaining this trust that each accountant continuously strive to increase his or her technical skills and his or her understanding of the whole accounting body of knowledge.
(2) Pursuant to the provision of Section 43-3-19 of this Act, the Board prescribes the following regulations establishing requirements of continuing professional education to be met from time to time by CPAs and registered foreign accountants in order to demonstrate that they are continuing their professional education as a condition to continuing to practice as public accountants.
O.C.G.A. Secs. 43-3-8, 43-3-9, 43-3-19.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-11 - CONTINUING PROFESSIONAL EDUCATION › Rule 20-11-.02 - Requirements

Current through Rules and Regulations filed through June 27, 2024
(1) An applicant for renewal of his or her individual license to practice as a CPA must have completed 80 hours of acceptable continuing professional education, of which 16 hours shall be in accounting and auditing subjects, during the two-year period immediately preceding each biennial renewal date as a condition for renewal, except as provided under paragraphs (2) and (4) below. A minimum of 20 of the 80 hours will be earned in each year.
(2) An applicant for renewal of his or her individual license to practice as a CPA who has been initially certified by this state for one year, but less than two, will have completed 40 hours of acceptable continuing professional education after the date of licensure but prior to the expiration date of his or her first license, of which at least 8 hours of continuing professional education reported shall be in accounting and auditing subjects, as a condition for renewal. An applicant who has been initially licensed as a CPA by this state for less than one year at the date of expiration of his or her first license shall not be required to have completed any hours of continuing professional education prior to that first expiration date as a condition for renewal.
(3) "Accounting and auditing courses" for purposes of this section shall be defined as follows:
(a) Accounting-related courses shall include, but not be limited to courses which enhance or develop understanding of generally accepted accounting principles, particularly as they relate to presentation of financial statements, as promulgated by authoritative literature in the United States and pronouncements of the Financial Accounting Standards Board and the Governmental Accounting Standards Board.
(b) Auditing-related courses shall include, but not be limited to, courses which enhance or develop understanding of generally accepted auditing standards, particularly as they relate to reporting on financial statements (including related standards for compilation and review services) as promulgated by authoritative literature in the United States, including the Statement on Auditing Standards and the Statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants and standards issued by the Public Company Accounting Oversight Board as well as courses related to auditing in specialized industries (e.g., governmental auditing requirements) and environments (e.g., computer systems).
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-11 - CONTINUING PROFESSIONAL EDUCATION › Rule 20-11-.03 - Programs Which Qualify

Current through Rules and Regulations filed through June 27, 2024
(1) The overriding consideration in determining whether a specific program qualifies as acceptable continuing education is that it be a formal program of learning which contributes directly to the professional competence of an individual licensed to practice as a CPA or a foreign accountant by this state, and which meets the minimum standards of quality of development and presentation and of measurement and reporting of credits set forth in the Statement on Standards for Continuing Professional Education Programs published by the National Association of State Boards of Accountancy, or such other educational standards as may be established from time to time by the Board.
(2) Subject Matter: The following general subject matters are acceptable so long as they meet the standards specified in subsection (1):
(a) Accounting and auditing;
(b) Taxation;
(c) Management services;
(d) Computer sciences;
(e) Oral and written communications;
(f) Mathematics and statistics;
(g) Economics;
(h) Business law;
(i) Functional fields of business (e.g., finance, production, marketing, personnel relations, business management, and organization);
(j) Specialized industries (e.g., real estate, agriculture, construction and financial institutions); and
(k) Administration of an accounting practice.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-11 - CONTINUING PROFESSIONAL EDUCATION › Rule 20-11-.04 - Controls and Reporting

Current through Rules and Regulations filed through June 27, 2024
(1) An applicant for renewal of a license to practice public accountancy must provide a signed statement, under penalty of perjury, that all applicable continuing education requirements have been met.
(2) All licensees shall maintain their records confirming attendance at and completion of continuing education, including the following information:
(a) School, firm or organization conducting the program;
(b) Location of the program;
(c) Title of program or description of content;
(d) Program outline;
(e) Dates attended;
(f) Hours claimed; and
(g) Evidence of satisfactory completion.
Compilation of Rules and Regulations of the State of Georgia › Department 20 - RULES OF STATE BOARD OF ACCOUNTANCY › Chapter 20-11 - CONTINUING PROFESSIONAL EDUCATION › Rule 20-11-.05 - Calculation of Hours of Credit

Current through Rules and Regulations filed through June 27, 2024
The following standards will be used to measure the hours of credit to be given for acceptable continuing education programs completed by individual applicants:
(a) Programs requiring class or meeting attendance:
1. All programs will be measured in terms of twenty-five minute segments or one-half, contact hours. The shortest recognized program will consist of one contact hour. A contact hour is 50 minutes of continuous participation in a group program. For example, a group program lasting 75 minutes would count for one and one-half hours; however, one lasting between 50 and 75 minutes would count for only 1 hour. For continuous conferences and conventions, when individual segments are less than 50 minutes, the sum of the segments should be considered one total program. For example, five 30 minute presentations would equal 150 minutes and should be counted as 3 contact hours. Sponsors will be required to monitor group programs in order to accurately assign the appropriate number of credit hours for participants who arrive late or leave before a program is completed. Credit will be allowed for a question-and-answer period, but will not be allowed for introductions, announcements or other activity which may be a part of the program;
2. Only hours in class, or the equivalent, will be counted. No credit will be allowed for time devoted to preparation;
3. Each hour of service as a lecturer or discussion leader of an acceptable formal program allows additional credit based on actual preparation time of up to two hours of continuing professional education. However, no additional credit will be allowed for repetition of the same program;
4. Each semester hour of credit from a college or university shall be deemed to be fifteen hours, and each quarter hour of credit shall be deemed to be ten hours;
5. Each classroom hour of noncredit courses from a college or university shall be counted as one hour of continuing professional education;
6. Credit as an instructor, discussion leader or speaker will be allowed for any meeting or engagement provided that the session is one which would meet the continuing education requirements of those attending. The credit allowed for presentation by an instructor, discussion leader or a speaker will be on the basis of one hour of continuing education credit for each hour of teaching. No additional credit will be allowed for repetition of the same program.