1. (a) A licensee who is an employee or officer of a business entity or governmental agency may prepare the business entity's or governmental agency's financial statements and may issue non-attest transmittals or information regarding non-attest transmittals if the transmittals or information do not purport to be in compliance with standards for accounting and review services adopted by the AICPA or another national accountancy organization recognized by the board.
2. (b) A licensee who is not an employee or officer of a business entity or governmental agency shall not submit the business entity's or governmental agency's financial statements to a client or third party unless the person complies with the Statements on Standards for Accounting and Review Services (SSARS) issued by the AICPA and other professional standards adopted by the board.

Source Note:The provisions of this §501.63 adopted to be effective February 9, 2011, 36 TexReg 545.