Authority: IC 25-2.1-2-15

Affected: IC 25-2.1-5-4; IC 25-2.1-6-6

Sec. 1. (a) This section establishes the requirements for nonlicensee owners of CPA or PA firms under IC 25-2.1-5-4. This section does not apply to firms of accounting practitioners under IC 25-2.1-6-6.

(b) An active individual participant under IC 25-2.1-5-4(c)(2) is an individual who is actively engaged in the firm or affiliated entities in providing services to the firm's clients as their occupation.

(c) The firm's owners shall comply with the AICPA Code of Professional Conduct, which applies to CPA firms only, or the NSA Rules of Professional Conduct, which applies to PA firms only, as adopted by the board in 872 IAC 1-2-1.

(Indiana Board of Accountancy; 872 IAC 1-4-1; filed Jul 7, 2003, 3:45 p.m.: 26 IR 3655; readopted filed Dec 1, 2009, 9:14 a.m.: 20091223-IR-872090784RFA; readopted filed Nov 13, 2015, 11:14 a.m.: 20151209-IR-872150227RFA; readopted filed Nov 22, 2021, 1:50 p.m.: 20211222-IR-872210379RFA; readopted filed Jan 12, 2024, 11:32 a.m.: 20240207-IR-872230761RFA; filed Mar 21, 2025, 12:35 p.m.: 20250416-IR-872240481FRA)