§ 15.15A. Firm permits
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2023
Effective: November 1, 2023
59 Okl.St.Ann. § 15.15A
§ 15.15A. Firm permits
A. The Oklahoma Accountancy Board, upon application, shall issue a permit to practice public accounting to each firm seeking to provide professional services to the public in this state except that a firm not required to register with the Board under paragraph 4 of subsection A of Section 15.12A of this title and a firm exempt from the registration requirements under paragraph 3 of subsection A of Section 15.15 of this title shall also not be required to obtain a permit under this section. Renewals of firm permits shall be applied for during the month of May of each year.
D. The Board shall be notified in the event the firm is dissolved. Such notification shall be made within thirty (30) calendar days of the dissolution. The Board shall adopt rules for notice and rules appointing the responsible party to receive such notice for the various types of firms authorized to receive permits. Such notice of dissolution shall contain but not be limited to the following information:
1. Except as authorized in Section 15.15B of this title, a simple majority of the ownership of the firm, in terms of financial interests and voting rights, belongs to partners or shareholders engaged in the practice of public accounting in the United States and holding a certificate as a certified public accountant in one or more jurisdictions. Although firms may include non-certificate holder owners, the firm and its ownership must comply with rules promulgated by the Board; and
1. Except as authorized in Section 15.15B of this title, a simple majority of the ownership of the firm, in terms of financial interests and voting rights, belongs to partners or shareholders engaged in the practice of public accounting in the United States and holding a license as a public accountant in one or more jurisdictions. Although firms may include nonlicense holder owners, the firm and its ownership must comply with rules promulgated by the Board; and
H. Any individual licensee who is responsible for supervising attest or compilation services and signs or authorizes someone to sign the accountant's report on the financial statement on behalf of the firm shall meet the competency requirements set out in the professional standards for such services.
Credits
Laws 1992, c. 272, § 20, eff. Sept. 1, 1992; Laws 2002, c. 312, § 12, eff. Nov. 1, 2002; Laws 2004, c. 125, § 20, eff. Nov. 1, 2004; Laws 2009, c. 45, § 16, emerg. eff. April 14, 2009; Laws 2010, c. 85, § 12, eff. July 1, 2010; Laws 2011, c. 150, § 2; Laws 2015, c. 218, § 1, eff. Nov. 1, 2015; Laws 2023, c. 26, § 6, eff. Nov. 1, 2023.
59 Okl. St. Ann. § 15.15A, OK ST T. 59 § 15.15A
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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