reglab/statecodes huggingface dataset:
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0100 - GENERAL PROVISIONS › Section 08K .0102 - REPEALED - REGISTRATION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-8;
					 93-12(3);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Amended Eff. October 1, 1984;
Repealed Eff. June
					 1, 1985.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0100 - GENERAL PROVISIONS › Section 08K .0103 - REPEALED - SUSPENSION AND REVOCATION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 55B-12;
					 93-8;
					 93-12(3);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Amended Eff. October 1, 1984;
Repealed Eff. March
					 1, 1987.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0100 - GENERAL PROVISIONS › Section 08K .0104 - REGISTRATION AND RENEWAL

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Domestic CPA professional corporations or professional limited liability
				  companies must be formed and all CPA professional corporations or professional
				  limited liability companies must be operated in accordance with the
				  requirements set out in G.S. 55B and 57D. Before any CPA professional
				  corporation or professional limited liability company can offer to perform or
				  perform any professional services in this state, it must register with the
				  Board.
(b) Initial registration.
(1) Domestic CPA Corporation or Professional
				  Limited Liability Company. In order to register initially with this Board, the
				  incorporators of a domestic CPA corporation or professional limited liability
				  company, prior to incorporation of the CPA firm, must:
(A) prepare and file with the Board the
				  articles of incorporation along with any supporting documents and appropriate
				  checks for fees payable to the Secretary of State;
(B) complete and file with the Board the
				  application for professional corporation or professional limited liability
				  company registration form along with any supporting documents; and
(C) pay to the Board an initial registration
				  fee of fifty dollars ($50.00).
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0100 - GENERAL PROVISIONS › Section 08K .0105 - SUPPLEMENTAL REPORTS

Current through Register Vol. 39, No. 2, July 15, 2024
Professional corporations or professional limited liability
					 companies registered with the Board pursuant to G.S. 55B and 57D shall file a
					 certified copy of all amendments to the articles of incorporation or articles
					 of organization prior to the effective date of each
					 amendment.
Authority
					 G.S.
					 55B-10;
					 57D-2-01;
					 93-8;
					 93-12(8a);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Amended Eff. February 1, 2011; April 1, 1999; April 1, 1994;
					 April 1, 1991; May 1, 1989;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. October 28, 2014;
Amended Eff.
					 March 1, 2020.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0100 - GENERAL PROVISIONS › Section 08K .0106 - REPEALED - FEES

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 55B-11;
					 55B-12;
					 93-12(3);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Amended Eff. May 1, 1984;
Repealed Eff. March 1,
					 1987.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0200 - PRACTICE PROCEDURES OF PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section 08K .0201 - CORPORATE AND PROFESSIONAL LIMITED LIABILITY COMPANY NAMES

Current through Register Vol. 39, No. 2, July 15, 2024
(a) The corporate name of a professional
				  corporation registered under these Rules shall contain the wording
				  "corporation," "incorporated," "limited," "company," "professional
				  corporation," or "professional association," or an abbreviation of one of the
				  foregoing: "Corp.," "Inc.," "Ltd.," "Co.," "P.C.," or "P.A."
(b) The corporate name of a professional
				  limited liability company registered under these Rules shall contain the
				  wording "professional limited liability company," "professional ltd. liability
				  co.," "professional limited liability co.," or "professional ltd. liability
				  company," or an abbreviation of one of the foregoing: "P.L.L.C." or
				  "PLLC."
(c) The use of "CPA" or
				  "Certified Public Accountant(s)" in the corporate name is encouraged, but not
				  required. Any name shall also meet the requirements in
				  21 NCAC
				  08N .0302 and
				  08N .0307.
Authority
					 G.S.
					 55B-5;
					 55B-12;
					 57C-1;
					 57C-2;
Eff. February
					 1, 1976;
Readopted Eff. September 26, 1977;
Amended
					 Eff. April 1, 1994; May 1, 1989; December 1, 1988; April 1, 1988;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. October 28,
					 2014.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0200 - PRACTICE PROCEDURES OF PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section 08K .0202 - REPEALED - LICENSING OF SHAREHOLDERS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 55B-6;
					 93-8;
					 93-12(2);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Repealed Eff. March 1,
					 1987.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0200 - PRACTICE PROCEDURES OF PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section 08K .0203 - REPEALED - LICENSING OF DIRECTORS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-8;
					 93-12(3);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Repealed Eff. August 24,
					 1981.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0200 - PRACTICE PROCEDURES OF PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section 08K .0204-.0208

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 55B-4;
					 55B-6;
					 55B-7;
					 55B-8;
					 55B-14;
					 93-8;
					 93-12(2);
					 93-12(3);
Eff. February 1, 1976;
Readopted Eff. September 26,
					 1977;
Repealed Eff. March 1,
					 1987.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter K - PROFESSIONAL CORPORATIONS AND PROFESSIONAL LIMITED LIABILITY COMPANIES › Section .0300 - REGISTERED LIMITED LIABILITY PARTNERSHIPS › Section 08K .0301 - REGISTERED LIMITED LIABILITY PARTNERSHIPS

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Any Registered Limited Liability Partnership created pursuant to and in
				  compliance with G.S. 59 shall also comply with all accountancy laws and rules
				  pertaining to partnerships.
(b)
				  Before any CPA registered limited liability partnership may perform or offer to
				  perform any professional services in this state, it shall file with the Board
				  the certificate of registration of the Secretary of State and appropriate fees
				  payable to the Secretary of State.
Authority
					 G.S.
					 59-84.2;
					 59-84.3;
					 93-12;
Temporary
					 Adoption Eff. October 1, 1993 for a period of 180 days or until the permanent
					 rule becomes effective, whichever is sooner;
Eff. April 1,
					 1994;
Amended Eff. August 1, 1998;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. October 28,
					 2014.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0101-.0103

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Amended Eff.
				  May 1, 1989; October 1, 1984; December 1, 1982; June 1, 1982;
Repealed Eff. April 1, 1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0104 - REPEALED - FORM CPA 3

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Repealed Eff.
				  October 1, 1984.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0105-.0106

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Amended Eff.
				  May 1, 1989; October 1, 1984; June 1, 1982;
Repealed Eff. April 1,
				  1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0107 - REPEALED - FORM CPA 6

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Repealed Eff.
				  October 1, 1984.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0108 - REPEALED - FORM CPA 7

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  93-12(4);
				  150B-11;
Eff.
				  February 1, 1976;
Readopted Eff. September 26, 1977;
Amended Eff. May 1, 1989; September 1, 1983;
Repealed Eff. April 1,
				  1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0109 - REPEALED - FORM CPA 8

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Repealed Eff.
				  October 1, 1984.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0110-.0118

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. February 1,
				  1976;
Readopted Eff. September 26, 1977;
Amended Eff.
				  May 1, 1989; April 1, 1987; October 1, 1984; June 1, 1982;
Repealed
				  Eff. April 1, 1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0119 - REPEALED - FORM CPA 18

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  93-12(7);
				  150B-11;
Eff.
				  December 1, 1982;
Amended Eff. May 1, 1989;
Repealed
				  Eff. April 1, 1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter L - FORMS › Section 08L .0120-.0125

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  150B-11;
Eff. October 1,
				  1984;
Amended Eff. May 1, 1989; April 1, 1987;
Repealed
				  Eff. April 1, 1994.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0100 - GENERAL SQR REQUIREMENTS › Section 08M .0101-.0104

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(7b);
					 93-12(8c)(e);
Eff. April 1, 1991;
Amended Eff. April 1, 1999; August 1, 1998;
					 February 1, 1996; August 1, 1995; April 1, 1994;
Repealed Eff.
					 January 1, 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0100 - GENERAL SQR REQUIREMENTS › Section 08M .0105 - PEER REVIEW REQUIREMENTS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A
				  CPA or CPA firm providing any of the following services to the public shall
				  participate in a peer review program:
(1)
				  audits;
(2) reviews of financial
				  statements;
(3) compilations of
				  financial statements; or
(4) any
				  engagement to be performed in accordance with the Statements on Standards for
				  Attestation Engagements.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0100 - GENERAL SQR REQUIREMENTS › Section 08M .0106 - COMPLIANCE

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A CPA firm
				  registered for peer review shall provide to the Board the following:
(1) peer review due date;
(2) year end date;
(3) final Letter of Acceptance from peer
				  review program within 60 days of the date of the letter; and
(4) a package to include the Peer Review
				  Report, Letter of Response, and Final Letter of Acceptance for all failed and
				  second passed with deficiencies reports issued by a peer review program within
				  60 days of the date of the Final Letter of Acceptance.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0100 - GENERAL SQR REQUIREMENTS › Section 08M .0107 - ETHICAL DUTIES OF REVIEWER

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A
				  reviewer shall be independent with respect to the reviewed CPA firm and comply
				  with the AICPA Standards for Performing and Reporting on Peer
				  Reviews.
(b) Information concerning
				  the participating CPA firm or its clients or personnel that is obtained as a
				  consequence of the review is confidential and shall not be disclosed to anyone
				  not involved in the peer review process.
Authority
					 G.S.
					 93-12(7b);
					 93-12(8c);
Eff. January 1, 2004;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. October 28,
					 2014.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0200 - DUTIES OF THE REVIEWED FIRM › Section 08M .0201-.0202

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(8c);
Eff.
					 April 1, 1991;
Amended Eff. April 1, 1999; August 1, 1998; April 1,
					 1994;
Repealed Eff. January 1,
					 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0200 - DUTIES OF THE REVIEWED FIRM › Section 08M .0203 - RESERVED FOR FUTURE CODIFICATION

Current through Register Vol. 39, No. 2, July 15, 2024
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0200 - DUTIES OF THE REVIEWED FIRM › Section 08M .0204 - REPEALED - CERTAIN OFFICES EXCUSED

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(8c);
Eff.
					 April 1, 1991;
Amended Eff. April 1, 1999; August 1,
					 1998;
Repealed Eff. January 1,
					 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0200 - DUTIES OF THE REVIEWED FIRM › Section 08M .0205 - RESERVED FOR FUTURE CODIFICATION

Current through Register Vol. 39, No. 2, July 15, 2024
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0200 - DUTIES OF THE REVIEWED FIRM › Section 08M .0206-.0207

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(8c);
Eff.
					 April 1, 1991;
Amended Eff. April 1, 1999; February 1,
					 1996;
Repealed Eff. January 1,
					 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0300 - REVIEW TEAM: QUALIFICATIONS AND DUTIES › Section 08M .0301-.0306

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(8c);
Eff.
					 April 1, 1991;
Amended Eff. April 1, 1999; February 1, 1996; August
					 1, 1995; June 1, 1994; April 1, 1994;
Repealed Eff. January 1,
					 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter M - STATE QUALITY REVIEW PROGRAM › Section .0400 - SQR ADVISORY COMMITTEE › Section 08M .0401-.0403

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 93-12(2);
					 93-12(8c);
Eff. April 1, 1991;
Amended Eff. April 1, 1999; February 1, 1996;
					 August 1, 1995;
Repealed Eff. January 1,
					 2004.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0100 - SCOPE AND APPLICABILITY › Section 08N .0101 - SCOPE OF THESE RULES

Current through Register Vol. 39, No. 2, July 15, 2024
(a) The rules in
				  this Subchapter are the Rules of Professional Ethics and Conduct that
				  G.S.
				  93-12(9) authorizes the
				  Board to adopt. As such, they complement the other statutory causes for
				  discipline set out in
				  G.S.
				  93-12(9)(a) through (d) and
				  other provisions of G.S. 93, 55B, 57D, and 59-84.2. These Rules cover a broad
				  range of behavior and shall not enumerate every possible unethical
				  act.
(b) In the interpretation and
				  enforcement of these Rules, the Board will consider the following without
				  dispositive weight: relevant interpretations, rulings and opinions issued by
				  the boards of other jurisdictions and by appropriately authorized ethics
				  committees of professional organizations.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0100 - SCOPE AND APPLICABILITY › Section 08N .0102 - APPLICABILITY AND ORGANIZATION OF RULES

Current through Register Vol. 39, No. 2, July 15, 2024
These Rules are applicable to all certificate holders.
					 Rules in Section .0200 of this Subchapter relate to CPAs whether or not
					 employed in the public practice of accountancy. Rules in Section .0300 of this
					 Subchapter pertain to CPAs using the CPA title in connection with providing
					 products or services to clients. Rules in Section .0400 of this Subchapter
					 pertain to CPAs whenever engaged in attest services.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0100 - SCOPE AND APPLICABILITY › Section 08N .0103 - RESPONSIBILITY FOR COMPLIANCE BY OTHERS

Current through Register Vol. 39, No. 2, July 15, 2024
A CPA and CPA firm shall be responsible for assuring
					 compliance with the rules in this Subchapter by anyone who is the CPA's
					 partner, fellow shareholder, member, officer, director, licensed employee,
					 unlicensed employee or agent or unlicensed principal, or by anyone whom the CPA
					 supervises. A CPA or CPA firm shall not permit others (including affiliated
					 entities) to carry out on the CPA's behalf, with or without compensation, acts
					 that if carried out by the CPA would be a violation of these
					 Rules.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. January 1, 2006;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0201 - INTEGRITY

Current through Register Vol. 39, No. 2, July 15, 2024
The reliance of the public and the business community on
					 sound financial reporting and advice on business affairs imposes on the
					 accounting profession an obligation to maintain high standards of technical
					 competence, morality, and integrity. A CPA shall at all times maintain
					 independence of thought and action, hold the affairs of clients in strict
					 confidence, strive continuously to improve professional skills, observe
					 generally accepted accounting principles and standards, promote sound and
					 informative financial reporting, uphold the dignity and honor of the accounting
					 profession, and maintain high standards of personal conduct.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0202 - DECEPTIVE CONDUCT PROHIBITED

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A CPA
				  shall not engage in deceptive conduct. "Deception" means any fraud,
				  misrepresentations, representations, or omissions that a CPA either knew or
				  should have known to have a capacity or tendency to be misleading. Deceptive
				  conduct shall be prohibited whether or not anyone has actually been
				  deceived.
(b) Prohibited conduct
				  under this Section includes deception in:
(1)
				  obtaining or maintaining employment;
(2) obtaining or keeping clients;
(3) obtaining or maintaining certification,
				  inactive status, or exemption from peer review;
(4) reporting CPE credits;
(5) certifying the character or experience of
				  exam or certificate applicants;
(6)
				  implying abilities not supported by education, professional attainments, or
				  licensing recognition;
(7)
				  asserting that services or products sold in connection with use of the CPA
				  title are of a particular quality or standard when they are not;
(8) creating false or unjustified
				  expectations of favorable results;
(9) using or permitting another to use the
				  CPA title in a form of business not permitted by the accountancy statutes or
				  rules;
(10) permitting anyone not
				  certified in this State (including one licensed in another jurisdiction) to
				  unlawfully use the CPA title in this State or to unlawfully operate as a CPA
				  firm in this State; or
(11)
				  falsifying a review, report, or any required program or checklist of any peer
				  review program.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0203 - DISCREDITABLE CONDUCT PROHIBITED

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A CPA
				  shall not engage in conduct discreditable to the accounting
				  profession.
(b) Prohibited
				  discreditable conduct includes:
(1) acts that
				  reflect adversely on the CPA's honesty, integrity, trustworthiness, good moral
				  character, or fitness as a CPA;
(2)
				  stating or implying an ability to improperly influence a governmental agency or
				  official;
(3) failing to comply
				  with any order issued by the Board;
(4) failing to fulfill the terms of a peer
				  review engagement contract;
(5)
				  misrepresentation in reporting CPE credits;
(6) entering into any settlement or other
				  resolution of a dispute that purports to keep its contents confidential from
				  the Board; or
(7) failing to
				  participate in a peer review program pursuant to
				  21 NCAC
				  08M .0105.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0204 - DISCIPLINE BY FEDERAL AND STATE AUTHORITIES

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Violations of Other Authorities' Laws or Rules. A CPA shall not act in a way
				  that would cause the CPA to be disciplined by federal or state agencies or
				  boards for violations of laws or rules on ethics. CPAs who engage in activities
				  regulated by other federal or state authorities (may include the following
				  agencies: Internal Revenue Service, Department of Revenue, U.S. Securities and
				  Exchange Commission, State Bar, North Carolina Secretary of State, Public
				  Company Accounting Oversight Board, National Association of Securities Dealers,
				  Department of Insurance, Government Accountability Office, U.S. Department of
				  Housing and Urban Development, State Auditor, State Treasurer, or Local
				  Government Commission) shall comply with all such authorities' ethics laws and
				  rules.
(b) Prima Facie Evidence. A
				  conviction or final finding of unethical conduct by a competent authority is
				  prima facie evidence of a violation of this Rule.
(c) Notice to the Board Required. A CPA shall
				  notify the Board in writing within 30 days of any conviction or finding against
				  him or her of unlawful conduct by any federal or state court or regulatory
				  authority.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. January 1, 2006;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0205 - CONFIDENTIALITY

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Nondisclosure.
				  A CPA shall not disclose any confidential information obtained in the course of
				  employment or a professional engagement except with the consent of the employer
				  or client.
(b) Exceptions. This
				  Rule shall not be construed:
(1) to relieve a
				  CPA of any reporting obligations pertaining to Section .0400 of this
				  Subchapter;
(2) to affect in any
				  way the CPA's compliance with an order of a court or a validly issued subpoena
				  by this Board;
(3) to preclude the
				  CPA from responding to any inquiry made by the AICPA Ethics Division or Trial
				  Board, by a duly constituted investigative or disciplinary body of a state CPA
				  society, or under state statutes;
(4) to preclude the disclosure of
				  confidential client information necessary for the peer review
				  process;
(5) to preclude the CPA
				  from assisting the Board in enforcing the accountancy statutes and
				  rules;
(6) to affect a CPA's
				  disclosure of confidential information to state or federal authorities when the
				  CPA concludes in good faith based upon professional judgment that a crime is
				  being or is likely to be committed;
(7) to affect a CPA's disclosure of
				  confidential information when such disclosure is required by state or federal
				  laws or regulations; or
(8) to
				  prohibit a CPA from revealing information:
(A)
				  in order to establish a claim or defense on behalf of the CPA in a controversy
				  between the CPA and a client;
(B)
				  to establish a defense to a criminal charge or civil claim against the CPA
				  based upon conduct in which the client was involved; or
(C) to respond to allegations in any
				  proceeding concerning the CPA's professional services to the client.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0206 - COOPERATION WITH BOARD INQUIRY

Current through Register Vol. 39, No. 2, July 15, 2024
A CPA shall provide full cooperation in connection with any
					 inquiry made by the Board. Full cooperation includes responding within 21 days
					 to all inquiries of the Board or representatives of the Board and claiming
					 Board correspondence from the U.S. Postal Service, private delivery service, or
					 personal delivery.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. February 1, 2011;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0207 - VIOLATION OF TAX LAWS

Current through Register Vol. 39, No. 2, July 15, 2024
A CPA shall not knowingly violate any state or federal tax
					 laws or regulations in handling the CPA's personal business affairs, the
					 business affairs of an employer or client, or the business affairs of any
					 company owned by the CPA.
Authority
					 G.S.
					 93-12(9);
Eff.
					 April 1, 1994;
Amended Eff. February 1, 2011;
Readopted
					 Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0208 - REPORTING CONVICTIONS, JUDGMENTS, AND DISCIPLINARY ACTIONS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Criminal Actions. A CPA shall notify the
				  Board within 30 days of any conviction or finding of guilt of, pleading of nolo
				  contendere, or receiving a prayer for judgment continued to any criminal
				  offense.
(b) Civil Actions. A CPA
				  shall notify the Board within 30 days of any judgment or settlement in a civil
				  suit, bankruptcy action, administrative proceeding, or binding arbitration
				  that:
(1) is grounded upon an allegation of
				  professional negligence, gross negligence, dishonesty, fraud,
				  misrepresentation, incompetence, or violation of any federal or state tax law
				  and
(2) was brought against either
				  the CPA or a North Carolina office of a CPA firm of which the CPA was a
				  managing owner.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0209 - ACCOUNTING PRINCIPLES

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Generally
				  Accepted Accounting Principles. A CPA shall not express an opinion that
				  financial statements are presented in conformity with generally accepted
				  accounting principles if such statements contain any departure from an
				  accounting principle that has a material effect on the statements taken as a
				  whole, unless the CPA can demonstrate that due to unusual circumstances the
				  financial statements would otherwise have been misleading. In such cases the
				  CPA's report shall describe the departure, the approximate effects thereof, if
				  practicable, and the reasons why compliance with the principle would result in
				  a misleading statement.
(b)
				  Financial Accounting Standards Board Accounting Standards Codification. The
				  Financial Accounting Standards Board Accounting Standards Codification is
				  incorporated by reference, including subsequent amendments and editions and
				  shall be considered generally accepted accounting principles for the purposes
				  of Paragraph (a) of this Rule. This document may be accessed at
https://asc.fasb.org
at no
				  cost.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. July 1, 2010;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0210 - REPEALED - FORECASTS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 55B-12;
					 57C-2-01;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. February 1, 2006;
Repealed Eff. July 1, 2010.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0211 - RESPONSIBILITIES IN TAX PRACTICE

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Standards for Tax Services. A CPA shall not render services in the area of
				  taxation unless the CPA has complied with both the Statements on Standards for
				  Tax Services and the Treasury Department Circular 230 as defined in this
				  Section. In the event that there is a conflict between the Statements on
				  Standards for Tax Services and Treasury Department Circular 230, the CPA shall
				  comply with Treasury Department Circular 230.
(b) Statements on Standards for Tax Services.
				  The Statements on Standards for Tax Services issued by the AICPA are
				  incorporated by reference, including subsequent amendments and editions. This
				  document may be accessed at
https://www.aicpa.org/resources/toolkit/statements-on-standards-for-tax-services
at no cost.
(c) Treasury Department
				  Circular 230. The Treasury Department Circular 230 is incorporated by
				  reference, including subsequent amendments and editions. This document may be
				  accessed at
https://www.irs.gov/pub/irs-pdf/pcir230.pdf
at no cost.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. July 1, 2010; February 1, 2006;
					 April 1, 2003;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0212 - COMPETENCE

Current through Register Vol. 39, No. 2, July 15, 2024
A CPA shall perform professional services competently and
					 shall:
(1) undertake only those
				  engagements that the CPA or CPA's firm can expect to complete with professional
				  competence;
(2) exercise due
				  professional care in the performance of an engagement;
(3) adequately plan and supervise an
				  engagement; and
(4) obtain
				  sufficient relevant data to afford a reasonable basis for conclusions or
				  recommendations in relation to an engagement.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0213 - OTHER RULES

Current through Register Vol. 39, No. 2, July 15, 2024
A CPA shall not willfully violate any other rule in this
					 Chapter nor any other provision of the Accountancy Statutes, the Professional
					 Corporation Act, the Partnership Act, or the North Carolina Limited Liability
					 Company Act.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. January 1, 2006;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0214 - OUTSOURCING TO THIRD-PARTY PROVIDERS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) A CPA
				  shall provide a written disclosure in advance of the outsourcing to the client
				  that he or she is using a third-party provider to assist the CPA in providing
				  any professional services to the client.
(b) A CPA outsourcing professional services
				  to a third-party provider shall be responsible for ensuring a third-party
				  provider is in compliance with all rules of Professional of Conduct and Ethics
				  in this Subchapter.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. January 1, 2006;
Amended Eff. July 1, 2010;
Readopted Eff. February 1, 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0200 - RULES APPLICABLE TO ALL CPAS › Section 08N .0215 - INTERNATIONAL FINANCIAL ACCOUNTING STANDARDS

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  International Financial Accounting Standards. A CPA shall not express an
				  opinion that financial statements are presented in accordance with
				  international financial accounting standards if such statements contain any
				  departure from an accounting standard that has a material effect on the
				  statements, taken as a whole, unless the CPA can demonstrate that due to
				  unusual circumstances the financial statements would otherwise have been
				  misleading. In such cases, the CPA's report shall describe the departure, the
				  approximate effect thereof if practicable, and the reason why compliance with
				  the standard would result in a misleading statement.
(b) International Financial Accounting
				  Standards consist of the following:
(1)
				  International Financial Reporting Standards (IFRS) issued after 2003;
(2) International Accounting Standards (IAS)
				  issued before 2004;
(3)
				  Interpretations originated from the International Financial Reporting
				  Interpretations Committee (IFRIC) issued after 2003; and
(4) Standing Interpretations Committee (SIC)
				  issued before 2003.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0300 - RULES APPLICABLE TO ALL CPAS WHO USE THE CPA TITLE IN OFFERING OR RENDERING PRODUCTS OR SERVICES TO CLIENTS › Section 08N .0301 - PROFESSIONAL JUDGMENT

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Professional
				  Judgment. A CPA shall not subordinate the CPA's professional judgment to
				  non-CPAs.
(b) Tax Practice. In tax
				  practice, the CPA may resolve doubt in favor of the CPA's client as long as
				  there is reasonable support for the CPA's position.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Readopted Eff. February 1,
					 2016.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0300 - RULES APPLICABLE TO ALL CPAS WHO USE THE CPA TITLE IN OFFERING OR RENDERING PRODUCTS OR SERVICES TO CLIENTS › Section 08N .0302 - FORMS OF PRACTICE

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Authorized
				  Forms of Practice. A CPA who uses CPA in or with the name of the business or
				  offers or renders audits, reviews, compilations, agreed-upon procedure or
				  engagement services performed in accordance with the standards in
				  21 NCAC
				  08A .0301(b)(5) in the
				  public practice of accountancy to clients shall do so only through a registered
				  sole proprietorship, partnership, Professional Corporation, Professional
				  Limited Liability Company, or Registered Limited Liability
				  Partnership.
(b) Authorized
				  Ownership. A CPA firm may have an ownership of up to 49 percent by non-CPAs. A
				  CPA firm shall have ownership of at least 51 percent and be controlled in law
				  and fact by holders of valid CPA certificates who have the unrestricted
				  privilege to use the CPA title and to practice public accountancy in a
				  jurisdiction and at least one of whom shall be licensed by this
				  Board.
(c) CPA Firm Registration
				  Required. A CPA shall not offer or render professional services through a CPA
				  firm that is in violation of the registration requirements of
				  21 NCAC
				  08J .0108, 08J .0110, or 08M .0105.
(d) Supervision of CPA Firms. Every North
				  Carolina office of a CPA firm registered in North Carolina shall be actively
				  and locally supervised by a designated actively licensed North Carolina CPA
				  whose primary responsibility and a corresponding amount of time shall be work
				  performed in that office.
(e) CPA
				  Firm Requirements for CPA Ownership. A CPA firm and its designated supervising
				  CPA shall be accountable for the following in regard to a CPA owner:
(1) a CPA owner shall be a natural person or
				  a general partnership or a limited liability partnership directly owned by
				  natural persons;
(2) a CPA owner
				  shall actively participate in the business of the CPA firm; and
(3) a CPA owner who, prior to January 1,
				  2006, is not actively participating in the CPA firm may continue as an owner
				  until such time as his or her ownership is terminated.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0300 - RULES APPLICABLE TO ALL CPAS WHO USE THE CPA TITLE IN OFFERING OR RENDERING PRODUCTS OR SERVICES TO CLIENTS › Section 08N .0303 - OBJECTIVITY AND CONFLICTS OF INTEREST

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Personal Financial Interest in Advice. When offering or rendering accounting or
				  related financial, tax, or management advice, a CPA shall be objective and
				  shall not place the CPA's own financial interests nor the financial interests
				  of a third party ahead of the legitimate financial interests of the CPA's
				  client or the public in any context in which a client or the public can
				  reasonably expect objectivity from one using the CPA title.
(b) Expectation of Objectivity Presumed. If
				  the CPA uses the CPA title in any way to obtain or maintain a client
				  relationship, the Board shall presume the reasonable expectation of
				  objectivity.
(c) Acceptance of a
				  Commission or Referral Fee. A CPA shall not recommend or refer to a client any
				  product or service for a commission; recommend or refer any product or service
				  to be supplied by a client; or receive a commission, when the CPA also performs
				  the following for the client:
(1) an audit or
				  review of a financial statement;
(2) a compilation of a financial statement
				  when the CPA expects, or reasonably might expect, that a third party will use
				  the financial statement and the CPA's compilation report does not disclose a
				  lack of independence; or
(3) an
				  examination of prospective financial information.
This prohibition applies during the period in which the CPA
					 is engaged to perform any of the services listed in Paragraph (c)of this Rule
					 and the period covered by any historical financial statements involved in such
					 listed services.
North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 08 - CERTIFIED PUBLIC ACCOUNTANT EXAMINERS › Subchapter N - PROFESSIONAL ETHICS AND CONDUCT › Section .0300 - RULES APPLICABLE TO ALL CPAS WHO USE THE CPA TITLE IN OFFERING OR RENDERING PRODUCTS OR SERVICES TO CLIENTS › Section 08N .0304 - CONSULTING SERVICES STANDARDS

Current through Register Vol. 39, No. 2, July 15, 2024
(a)
				  Standards for Consulting Services. A CPA shall not render consulting services
				  unless the CPA has complied with the Statements on Standards for Consulting
				  Services.
(b) Statements on
				  Standards for Consulting Services. The Statements on Standards for Consulting
				  Services including the definition of such services issued by the AICPA are
				  incorporated by reference, including subsequent amendments and editions. This
				  document may be accessed at
https://www.aicpa.org/resources/download/statement-on-standards-for-consulting-services-no-1
at no cost.
Authority
					 G.S.
					 55B-12;
					 57D-2-02;
					 93-12(9);
Eff. April 1, 1994;
Amended Eff. July 1, 2010; January 1,
					 2006;
Readopted Eff. February 1,
					 2016.