Louisiana Administrative Code › Title 46 - PROFESSIONAL AND OCCUPATIONAL STANDARDS › Part XIX - Certified Public Accountants › Chapter 15 - Firm Permits to Practice; Attest Experience; Peer Review › Section XIX-1501 - CPA Firm Permits; Attest Experience; Application, Renewal, Reinstatement; Internet Practice

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any firm
				which has or establishes an office or place of business in Louisiana which
				provides attest services or which uses the title "CPA," "CPAs," "CPA firm,"
				"Certified Public Accountant," "firm of Certified Public Accountants," or
				similar such designations and firms described in Subsection B of this Section
				must obtain and hold a valid and current firm permit issued by the board under
				R.S.
				37:77(A). The use of any of
				the above titles or designations anywhere on firm letterhead, business cards,
				electronic correspondence, advertisements or publications, promotional
				materials, or any other publicly disseminated medium by a firm not holding a
				valid and current firm permit is not allowed if it implies the existence of an
				entity that holds a current and valid firm permit issued by the board under the
				provisions of
				R.S.
				37:77(A):
1. the board may require that such firm
				applying for issuance, renewal or reinstatement of a firm permit to provide any
				and all information and/or documentation that the board deems appropriate and
				necessary to ensure the firm's compliance with all provisions of the
				Act;
2. any such CPA firm organized
				as and/or represented as a professional accounting corporation is considered to
				be using the title "firm of certified public accountants" and therefore must
				hold a firm permit, pursuant to
				R.S.
				37:77(A);
3. "active individual participants" as
				referred to in
				R.S.
				37:77(C)(2)(b) means natural
				persons, firms, associations, partnerships, corporations, or other business
				organizations or entities, in which all owners of such entities must provide
				personal services in the CPA firm or its affiliated entities in the nature of
				management, performance of services for clients, performance of services which
				assist the certificate holders within the firm in providing professional
				services, or similar activities; and
4. a person or entity which makes or holds a
				passive investment in a CPA firm or its affiliated entities for the purposes of
				receiving income from the firm or its affiliated entities shall not constitute
				"active individual participation" as referred to in
				R.S.
				37:77(C)(2)(b);
5. a certificate holder, or an individual
				granted practice privileges under
				R.S.
				37:94, who is responsible for supervising
				attest services, or who signs or authorizes someone to sign accountant's
				reports on behalf of the firm, shall meet the experience and competency
				requirements for a "practitioner in charge" as set forth in AICPA Quality
				Control Standards;
6. all firms
				holding a valid registration as a certified public accounting firm June 18,
				1999 shall be deemed to have met the initial firm permit
				requirements.