Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.051 - Registration of Certified Public Accounting Firms

Current through Register Vol. 49, No. 14, July 15, 2024
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 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 C PA or certified public
				accounting firm, out of which a C PA 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.
*Original authority: 326.262, RSMo 2001 and 326.289, RSMo
					 2001, amended 2002, 2008.