Accountants, Board of Certified Public

Accountants, Board of Certified Public

Chapter 4: Permits

Effective Date: 08/25/2009 to 08/25/2010

Rule Type: Superceded Rules & Regulations

Reference Number: 061.0001.4.08252009

CHAPTER 4

PERMITS (Effective )

Section 1. Registration of Firms

(a) Partnerships, corporations, limited liability companies, or sole proprietorships shall register the entity and obtain a permit prior to rendering professional services when:

(i) an office as defined in Chapter 1, Section 2(p) exists and attest services as defined in W. S. 33-3-102(a)(vi) are provided;

(ii) an office as defined in Chapter 1, Section 2(p) exists and the entity or individuals associated with it hold out as CPA(s) in any manner;

(iii) an office as defined in Chapter 1, Section 2(p) exists, a majority interest in the entity is owned by CPAs, and services as defined in W. S. 33-3-109(c) and Chapter 1, Section 2(d) and Section 2(ii) are provided;

(iv) the firm does not have an office as defined in Chapter 1, Section 2(p) but performs any audit in accordance with the Statements on Auditing Standards, any examination of prospective financial information in accordance with the Statements on Standards for Attestation Engagements, or any engagement in accordance with the PCAOB auditing standards when these services are performed for a client whose home office is in Wyoming; or

(v) the firm does not have an office as defined in Chapter 1, Section 2(p), performs any attest services as defined in W. S. 33-3-102 (a)(vi)(B) for a client whose home office is in Wyoming and is not required to comply with the AICPA peer review requirements or some state’s peer review requirements.

(b) All certificate holders who perform compilation services outside of a permitted firm from a Wyoming office shall register as sole proprietors and obtain permits.

(i) a firm that does not have an office as defined in Chapter 1, Section 2(p), but performs compilations for a client whose home office is in Wyoming and is not required to comply with the AICPA peer review requirements or some state’s peer review requirements must register with the Board and obtain a permit.

(c) CPA firms required to register shall meet the application requirements as follows:

(i) A corporation must file a copy of the filed articles of incorporation at the time of initial application and any subsequent amendments thereto in accordance with Chapter 1 of the Rules and Regulations.

(A) The practice of public accounting in Wyoming is permitted in the professional corporation form in compliance with the additional requirements of W.S. 17-3-101 through 104 specifically but not limited to the requirement of W.S. 17-3-101 that all owners of capital stock be licensed or permitted under Wyoming law and the requirements of W.S. 17-3-103 with respect to corporate name.

(ii) A limited liability company must file a filed copy of the articles of organization at the time of initial application and any subsequent amendments thereto in accordance with Chapter 1 of the Rules and Regulations.

(d) An application to register shall be made on forms provided by the Board and upon the affidavit of a designated certificate holder who holds an active Wyoming certificate or qualifies for practice privileges and is responsible for the CPA firm in the State of Wyoming. All notifications required under this act and the Rules and Regulations shall be the responsibility of this designated certificate holder.

(f) Designated certificate holders shall register all Wyoming office locations with the CPA firm registration and provide the following information:

(i) Office address;

(ii) Phone number;

(iii) Name of certificate holder providing attest or compilation services at each location.

Section 2. Renewal/Activation.

(a) All CPA firm permits expire December 31 of each calendar year. Renewal notifications shall be mailed or e-mailed to designated certificate holders no later than October 1 of each calendar year.

(b) The designated certificate holder shall submit an application for renewal which shall be postmarked or received in the Board office no later than November 1 of each calendar year and be accompanied by the following:

(i) his complete individual certificate renewal unless authorized to use practice privileges;

(ii) copies of applicable amended articles of incorporation or articles of organization; and

(iii) applicable fees, to include late and notice fees as outlined in Chapter 1, Section 12.

(c) Firms eligible for practice privileges may activate an expired firm permit at any time and are subject to activation fees as set forth in Chapter 1, Section 12.

Section 3. Non-certificate Holders. CPA firms whose ownership includes non-certificate holders shall provide a listing of the names of all certificate and non-certificate holder owners at initial registration. This listing shall document compliance with subsection (ii) of this section.

(i) subsequent changes must be reported within sixty (60) days;

(ii) if the withdrawal of a certificate holder results in the CPA firm’s ownership being controlled by more than 49% of non-certificate holders, the CPA firm shall take corrective action within sixty (60) days to ensure the CPA firm complies with W. S. 33-3-118(b)(xvi) and (xvii).

Section 4. Non-Resident Firms. CPA firms that qualify for practice privileges but elect to obtain/maintain a permit in Wyoming shall comply with all provisions and requirements set forth in W. S. 33-3-118(b)(xiv) and (xv), W. S. 33-3-120, W. S. 33-3-132, and the Rules and Regulations.