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§ 51.1. Notification of Non-Licensee Ownership.

16 CA ADC § 51.1Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 16. Professional and Vocational Regulations
Division 1. State Board of Accountancy (Refs & Annos)
Article 9. Rules of Professional Conduct
16 CCR § 51.1
§ 51.1. Notification of Non-Licensee Ownership.
Currentness
(a) Any firm with a nonlicensee owner or owners that has one or more offices located in California shall notify each client served by an office located in California of the actual or potential involvement of a nonlicensee owner or owners in any service to be provided to the client by the firm. Notice shall be provided by any of the following methods:
(1) Providing a statement to each client served by a California office to be signed and dated by the client and retained in the firm's records that states that the client understands that services will or may be provided by a nonlicensee owner of the firm.
(2) Including a statement that the firm has a nonlicensee owner or owners who may provide client services in any contract for services, proposal letter, or engagement letter with the client served by a California office.
(b) A copy of the statement, contract, engagement letter, or proposal letter containing this notice shall be maintained by the public accounting firm in the client's files for a minimum of five years from the date of the notice.

Credits

Note: Authority cited: Sections 5010, 5018 and 5079, Business and Professions Code. Reference: Section 5079, Business and Professions Code.
History
1. New section filed 1-23-2004; operative 1-23-2004 pursuant to Government Code section 11343.4 (Register 2004, No. 4).
This database is current through 4/12/24 Register 2024, No. 15.
Cal. Admin. Code tit. 16, § 51.1, 16 CA ADC § 51.1
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