1. (a) An individual who holds a certificate or license as a certified public accountant issued by another state and whose principal place of business is not in this state may exercise all the privileges of certificate and license holders of this state without obtaining a certificate or license under this chapter if:

   1. (1) the National Association of State Boards of Accountancy's National Qualification Appraisal Service has verified that the other state has education, examination, and experience requirements for certification or licensure that are comparable to or exceed the requirements for licensure as a certified public accountant of The American Institute of Certified Public Accountants/National Association of State Boards of Accountancy Uniform Accountancy Act and the board determines that the licensure requirements of that Act are comparable to or exceed the licensure requirements of this chapter; or
   2. (2) the individual obtains from the National Association of State Boards of Accountancy's National Qualification Appraisal Service verification that the individual's education, examination, and experience qualifications are comparable to or exceed the requirements for licensure as a certified public accountant of The American Institute of Certified Public Accountants/National Association of State Boards of Accountancy Uniform Accountancy Act and the board determines that the licensure requirements of that Act are comparable to or exceed the licensure requirements of this chapter.
2. (b) An individual who meets the requirements of subsection (a)(1) or (2) of this section and who offers or renders professional services in person or by mail, telephone, or electronic means may practice public accountancy in this state without notice to the board.

3. (c) An individual practicing under this section must practice through a firm that holds a license under this title if, for an entity with its principal office in this state, the individual performs:

   1. (1) a financial statement audit or other engagement that is to be performed in accordance with the Statements on Auditing Standards;
   2. (2) an examination of prospective financial information that is to be performed in accordance with the Statements on Standards for Attestation Engagements; or
   3. (3) an engagement that is to be performed in accordance with auditing standards of the Public Company Accounting Oversight Board or its successor.

Source Note:The provisions of this §517.2 adopted to be effective October 11, 2007, 32 TexReg 7063.