Oklahoma § 59-15.15 - Registration - Annual fee - Expiration date - Renewal Interim registration - Revocation and reinstatement

§ 59-15.15. Registration - Annual fee - Expiration date - Renewal Interim registration - Revocation and reinstatement

A. The Oklahoma Accountancy Board, upon application, shall

grant or register any firm, including sole proprietorships, seeking

to provide public accounting services to the public in this state if

such firm demonstrates its qualifications therefore in accordance

with this section. All firms, except sole proprietorships with an

office in this state, shall pay an annual registration fee not to

exceed One Hundred Dollars ($100.00). The following must register

with the Board under this section:

1. Any firm with an office in this state engaged in the

practice of public accounting or the practice of attest services as

defined in paragraph 5 of Section 15.1A of this title;

2. Any firm with an office in this state that uses the title

“CPA”, “PA”, “CPA firm” or “PA firm”; or

3. Any firm that does not have an office in this state but

offers or renders attest services as described in paragraph 5 of

Section 15.1A of this title, unless the firm meets each of the

following requirements:

a.

complies with the qualifications described in

paragraphs 1 and 3 of subsection F of Section 15.15A

of this title,

b.

complies with the qualifications described in Section

15.30 of this title,

c.

performs such services through an individual with

practice privileges under Section 15.12A of this

title, and

d.

can lawfully do so in the state where the individuals

with practice privileges have their practice of

business.

B. All such registrations shall expire on June 30 of each year

and may be renewed annually for a period of one (1) year by

registrants in good standing upon filing the registration and upon

payment of the annual fee not later than June 30 of each year.

Oklahoma Statutes - Title 59. Professions and Occupations

C. Interim registrations shall be at full rates.

D. Upon failure of a firm to pay registration fees on or before

the last day of June, the Board shall notify the firm in writing by

certified mail to the last known address of the firm, as reflected

in the records of the Board, of the firm’s failure to comply with

the Oklahoma Accountancy Act.

E. A registration granted under authority of this section shall

automatically be revoked if the firm fails to renew its registration

on or before June 30.

F. A firm whose registration is automatically revoked pursuant

to this section may be reinstated by the Board upon payment of a fee

to be set by the Board which shall not exceed Two Hundred Dollars

($200.00).

G. An individual who has practice privileges under Section

15.12A of this title who performs services for which firm

registration is required under this section shall not be required to

meet the certificate, license, registration or permit requirements

of Section 15.9, 15.13, 15.13A, 15.14 or 15.14A of this title.

Added by Laws 1965, c. 188, § 15, emerg. eff. June 8, 1965. Amended

by Laws 1968, c. 271, § 12, emerg. eff. April 30, 1968; Laws 1992,

c. 272, § 19, eff. Sept. 1, 1992; Laws 2002, c. 312, § 11, eff. Nov.

1, 2002; Laws 2004, c. 125, § 19, eff. Nov. 1, 2004; Laws 2009, c.

45, § 15, emerg. eff. April 14, 2009; Laws 2010, c. 85, § 11, eff.

July 1, 2010; Laws 2023, c. 26, § 5, eff. Nov. 1, 2023.

§59-15.15A. 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.

B. Applicants for initial firm permits shall provide the Board

with the following information:

1. A list of all states in which the firm has applied for or

been issued a permit or its equivalent within the five (5) years

immediately preceding the date of application;

2. Relevant details as to a denial, revocation, or suspension

of a permit or its equivalent of the firm, or any partner or

shareholder of the firm in any other state or jurisdiction;

3. Documentary proof that the firm has complied with the

requirements of the Office of the Secretary of State applicable to

such entities; and

Oklahoma Statutes - Title 59. Professions and Occupations

4. Such other information as the Board deems appropriate for

demonstrating that the qualifications of the firm are sufficient for

the practice of public accounting in this state.

C. The following changes in a firm affecting the offices in

this state shall be reported to the Board within thirty (30)

calendar days from the date of occurrence:

1. Changes in the partners or shareholders of the firm;

2. Changes in the structure of the firm;

3. Change of the designated manager of the firm;

4. Changes in the number or location of offices of the firm;

and

5. Denial, revocation, or suspension of certificates, licenses,

permits, or their equivalent to the firm or its partners,

shareholders, or employees other than in this state.

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. A list of all partners and shareholders at the time of

dissolution;

2. The location of each office of the firm at the time of

dissolution; and

3. The date the dissolution became effective.

E. The Board shall set a fee not more than Two Hundred Dollars

($200.00) for each initial or renewal firm permit except for sole

proprietorships.

F. Each firm seeking a permit to practice accounting as a CPA

firm shall be issued a permit by the Board upon application and

payment of appropriate fees. A firm applying for a permit shall

provide documentary proof to the Board that:

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

2. Each designated manager of an office in this state is a

holder of a valid Oklahoma certificate and permit to practice as a

certified public accountant; and

3. All nonlicensed owners are active individual participants in

the public accounting firm or affiliated entities, except as

authorized in Section 15.15B of this title.

Oklahoma Statutes - Title 59. Professions and Occupations

G. Each firm seeking a permit to practice accounting as a PA

firm shall be issued a permit by the Board upon application and

payment of appropriate fees. A firm applying for a permit shall

provide documentary proof to the Board that:

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

2. Each designated manager of an office in this state has

received an Oklahoma license and permit to practice as a public

accountant or certificate and permit to practice as a certified

public accountant; and

3. All nonlicensed owners are active individual participants in

the public accounting firm or affiliated entities, except as

authorized in Section 15.15B of this title.

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.

I. Any individual licensee who signs or authorizes someone to

sign the accountant’s report on the financial statements on behalf

of the firm shall meet the competency requirements of the prior

subsection.

Added by Laws 1992, c. 272, § 20, eff. Sept. 1, 1992. Amended by

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.

§59-15.15B. Designated manager - Succession of business.

A. Except as authorized in subsection B of this section, each

office established or maintained in this state for the practice of

public accounting shall be under the direct supervision of a

designated manager.

1. The designated manager must be the holder of a certificate

in order for the title "Certified Public Accountant" or the

abbreviation "C.P.A." to be used in connection with such office; or

2. The designated manager must be the holder of a certificate

or a license in order for the title "Public Accountant" or the

abbreviation "P.A." to be used in connection with such office.

Oklahoma Statutes - Title 59. Professions and Occupations

B. 1. For the purposes of a sale or transfer of an existing

office established or maintained in this state for the practice of

public accounting, the office is authorized to continue its

accounting practice during the pendency of its sale or transfer to a

qualified person or entity. For purposes of this subsection, the

term "sale or transfer" means and includes, but is not limited to:

a.

the succession of an office established or maintained

in this state for the practice of public accounting by

the sale or transfer to another person or entity

authorized by law to practice public accounting in

this state, or

b.

the succession of an office established or maintained

in this state for the practice of public accounting by

transfer to a grantor trust upon the death of the

holder of a permit to practice public accounting as an

interim interest holder before being transferred to

qualified individual owners as set out in paragraph F

or G of Section 15.15A of this title and only upon the

actual review of all client documents by a qualified

certified public accountant or public accountant in

this state.

2. Upon the death of a sole proprietor, single owner of a firm

or a majority stockholder of a firm, notice shall be given to the

executive director of the Oklahoma Accountancy Board by letter

within fourteen (14) days of the death expressing any intention to

sell, transfer or assume responsibility of the office, and declaring

the name of the qualified person or entity who has agreed to

continue the business or review the client documents during pendency

of the sale or transfer.

3. Upon completion of a sale or transfer authorized by this

subsection, notice shall be given to the executive director of the

Oklahoma Accountancy Board by affidavit within fourteen (14) days of

conclusion of the sale or transfer stating the date of completion of

the sale or transfer, the name of the designated manager who

reviewed client documents or continued the business through

completion of the sale or transfer, and the name of the purchaser or

transferee that has assumed responsibility for the office, if

different from the designated manager.

4. If a sale or transfer cannot be completed within sixty (60)

days, the executive director of the Oklahoma Accountancy Board shall

be notified monthly until the sale or transfer has been completed.

5. Nothing in this subsection shall prohibit the executive

director of the Oklahoma Accountancy Board from seeking an action

for injunctive relief or disciplinary action if there is reasonable

cause to believe a person is violating the law or administrative

rules of the Board.

Oklahoma Statutes - Title 59. Professions and Occupations

C. The Board shall promulgate such rules as are necessary to

implement the provisions of this section.

Added by Laws 1965, c. 188, § 17, emerg. eff. June 8, 1965. Amended

by Laws 1968, c. 271, § 13, emerg. eff. April 30, 1968; Laws 1992,

c. 272, § 21, eff. Sept. 1, 1992. Renumbered from § 15.17 by Laws

1992, c. 272, § 34, eff. Sept. 1, 1992. Amended by Laws 2015, c.

218, § 2, eff. Nov. 1, 2015.

§59-15.15C. Services provided by unregistered firm.

It shall not be a violation of the Oklahoma Accountancy Act for

a firm which is not registered under Section 15.15 of this title and

does not hold a valid permit under Section 15.15A of this title and

which does not have an office in this state to provide its

professional services in this state so long as it complies with the

requirements of paragraph 4 of subsection A of Section 15.12A of

this title or meets the requirements of paragraph 3 of subsection A

of Section 15.15 this title, whichever is applicable.

Added by Laws 2009, c. 45, § 17, emerg. eff. April 14, 2009.

Amended by Laws 2023, c. 26, § 7, eff. Nov. 1, 2023.