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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
SENATE BILL 817 By: Dugger
AS INTRODUCED
An Act relating to the Oklahoma Accountancy Act;
amending 59 O.S. 2011, Sections 15.1A, as last
amended by Section 1, Chapter 327, O.S.L. 2019, 15.2,
as last amended by Section 6, Chapter 116, O.S.L.
2020, 15.11, 15.12A, 15.14A, as amended by Section 5,
Chapter 327, O.S.L. 2019 , 15.15, 15.15A, as amended
by Section 1, Chapter 218, O.S. L. 2015, 15.15C,
15.25, and 15.37 (59 O.S. Supp. 2020, Sections 15.1A,
15.2, 15.14A and 15.15A), which relate to the
Oklahoma Accountancy Act ; modifying definitions;
changing composition of board membership; making act
conform to firm mobility provisions; deleting
language, adding language; providing statutory
references; stating registration requirements;
providing an effective date; and declaring an
emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
SECTION 1. AMENDATORY 59 O.S. 2011, Section 15.1A, as
last amended by Section 1, Chapter 327, O.S.L. 2019 (59 O.S. Supp.
2020, Section 15.1A), is amended to read as follows:
Section 15.1A. As used in the Oklahoma Accountancy Act:
1. “Accountancy” means the profession or practice of
accounting;
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2. “AICPA” means the American Institute of Certified Public
Accountants;
3. “Applicant” means an individual or entity tha t has made
application to the Board for a certificate, license, or permit and
said application has no t been approved;
4. “Assurance” means independent pr ofessional services that
improve the quality of information, or its context, for decision
makers;
5. “Attest” means providing the following services:
a. any audit or other engagement to be performed in
accordance with the Statements on Auditing Standards
(SAS),
b. any review of a financial statement to be performed i n
accordance with the Statements on Sta ndards for
Accounting and Review Services (SSARS),
c. any engagement examination of prospective finan cial
information to be performed in accordance with t he
Statements on Standards for Attestation Engagements
(SSAE), and
d. any engagement to be performed in accordance wit h the
Auditing Standards of the Public Company Accounting
Oversight Board (PCAOB) , and
e. any examination, review or agreed upon procedure s
engagement to be performed in accordance with
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Statements on Standards for Attestation Engagements
(SSAE), other than the examination descr ibed in
subparagraph c of paragraph 34 of this section.
The statements on standards specified in this definition sha ll
be adopted by reference by the Board pursuant to rulemaking and
shall be those developed for general applicati on by recognized
national accountancy o rganizations, such as the AICPA, IFAC and the
PCAOB;
6. “Audit” can only be performed by an individual or entity who
is registered with the Board and holding a valid permit issued
pursuant to the Oklahoma Accountancy Act or an entity that is exempt
from registration under paragraph 3 of subsection A of Section 15.15
of this title, or an individual granted p ractice privileges under
Section 15.12A of this title, and means a systematic investigat ion
or appraisal of information, procedures , or operations performed in
accordance with generally accepted auditing s tandards in the United
States, for the purpose of d etermining conformity with established
criteria and communicating the results to interes ted parties;
7. “Board” means the Oklahoma Accountancy Board;
8. “Candidate” means an individual who has been quali fied and
approved by the Board to take an examinati on for a certificate or
license;
9. “Certificate” means the Oklahoma document issued by the
Board to a candidate upon successful completion of the certified
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public accountant examination designating the h older as a certified
public accountant pursuant to the laws of Oklahoma. “Certificate”
shall also mean the Oklahoma document issued by rec iprocity to an
individual who has previously been certified in another
jurisdiction;
10. “Certified public accountan t” means any person who has
received a certificate from the Board or other jurisdictions;
11. “Client” means the individual or entity whic h retains a
registrant, an individual granted practice privileges under Section
15.12A of this title, or a firm exemp t from the permit and
registration requirements und er Section 15.15C of this title and
which also is exempt from the registration requireme nt of paragraph
3 of subsection A of Section 15.15 of this title to perform
professional services;
12. “Compilation” when used with reference to financial
statements, means presenting information in the form of financial
statements which is the representat ion of management or owners
without undertaking to express any assurance on the statements;
13. “CPA” or “C.P.A.” means certified publi c accountant;
14. “Designated manager” means the Oklahoma certified public
accountant or public accountant appointed by the firm partners or
shareholders to be responsible for the administration of the office;
15. “Designee” means the National Associatio n of State Boards
of Accountancy (NASBA) or other entities so designated by the Board;
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16. “Entity” means an organization whether for profit or not,
recognized by the State of Oklahoma to conduct business;
17. “Examination” means the test sections of Aud iting and
Attestation, Busines s Environment and Concepts, Financial Accounting
and Reporting, and Regulation or their su ccessors, administered,
supervised, and graded by, or at the direction of, the Board or
other jurisdiction that is required for a certif icate as a certified
public accountant or a license as a public accountant all or any
part of the Uniform Certified Pu blic Accountant's Examination or
tests for competency in auditing, attestation, business environment
and concepts, financial accounting and reporting and accounting
regulations as approved or designated b y the Board;
18. “Executive director” means the chief administrative officer
of the Board;
19. “Financial statements ” means statements and footnotes
related thereto that undertake to pres ent an actual or anticipated
financial position as of a point in time, or results of operations,
cash flow, or changes in fi nancial position for a period of time, in
conformity with generally accepted accounting principles or another
comprehensive basis of accounting. The term does not include
incidental financial data included in management advisory service
reports to support recommendations to a client; nor does it include
tax returns and supporting schedules;
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20. “Firm” means an entity that is either a sole
proprietorship, partnersh ip, professional limited liability company,
professional limited liability partnership, limit ed liability
partnership or professiona l corporation, or any other professional
form of organization organized u nder the laws of the State of
Oklahoma or the laws of another jurisdiction and issued a permit in
accordance with Section 15.15A of this title o r exempt from the
permit requirement un der Section 15.15C of this title and which also
is exempt from the registration requirement o f paragraph 3 of
subsection A of Section 15.15 of this title, including individual
partners or shareholders, that is engaged in accountancy;
21. “Holding out” means any representation by an individual
that he or she holds a certificate or license and a valid permit, or
by an entity that it holds a valid permit. Any such representation
is presumed to invite the public to rely upo n the professional
skills implied by the certificate or license and valid permit in
connection with the servi ces or products offered;
22. “Home office” means the location specified by the client as
the address to which a service described in Section 15.12 A of this
title is directed;
23. “IFAC” means the International Federation of Accountants;
24. “Individual” means a human being;
25. “Jurisdiction” means any state or territory of the United
States and the District of Columbia;
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26. “License” means the Oklahoma document issued by the Board
to a candidate upon successful completion of the public accountant
examination designating the holder as a public accou ntant pursuant
to the laws of Oklahoma. “License” shall also mean the Oklahoma
document issued by the Board by reciprocity to a public accountant
who has previously been licensed by examination in another
jurisdiction;
27. “Management advisory services”, also known as “management
consulting services”, “management services”, “business advisory
services” or other similar designation, hereinafter collectively
referred to as “MAS”, means the function of providin g advice and/or
technical assistance, performed in accordance with standards for MAS
engagements and MAS consultations such as those issued by the
American Institute of Certified Public Accountants, where the
primary purpose is to help the client improve t he use of its
capabilities and resources to achi eve its objectives including but
not limited to:
a. counseling management in analysis, planning,
organizing, operating, risk management and controlling
functions,
b. conducting special studies, preparing reco mmendations,
proposing plans and programs, and providing advice and
technical assistance in their implementation,
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c. reviewing and suggesting impro vement of policies,
procedures, systems, methods , and organization
relationships, and
d. introducing new idea s, concepts, and methods to
management.
MAS shall not include recommendations and comments prepared as a
direct result of observations made while p erforming an audit,
review, or compilation of financial statements or while providing
tax services, including tax consultations;
28. “NASBA” means the National Association of State Boards of
Accountancy;
29. “PA” or “P.A.” means public accountant;
30. “Partnership” means a contractual relationship based upon a
written, oral, or implied agreement between two or more individuals
who combine their resources an d activities in a joint enterprise and
share in varying degrees and by specific agreement in the ma nagement
and in the profits or losses. A partnership may be general or
limited as the laws of this state def ine those terms;
31. “PCAOB” means the Public Company Accounting Oversight
Board;
32. “Peer Review” means a review performed pursuant to a set of
peer review rules established by the Board. The term “peer review”
also encompasses the term “quality review”;
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33. “Permit” means the written authority gr anted annually by
the Board to individuals or firms to practice public accounting in
Oklahoma, which is issued pursuant to the Oklahoma Accountancy Act;
34. a. “Practice of public accounting ”, also known as
“practice public accounting”, “practice” and “practice
accounting”, refers to the activities of a registrant,
an individual granted practice privile ges under
Section 15.12A of this title, or a firm exempt from
the permit and registration requirements under Section
15.15C of this title in reference to acc ountancy. An
individual or firm shall be deemed to be engaged in
the practice of public accounting if the individual or
firm holds itself out to the public in any manner as
one skilled in the knowledge, scie nce, and practice of
accounting and auditing, ta xation and management
advisory services and is qualified to render such
professional services as a certified public accountant
or public accountant, and performs the following:
(1) maintains an office for the transaction of
business as a certified public a ccountant or
public accountant,
(2) offers to prospective clients to perform or who
does perform on behalf of clients professional
services that involve or require an audit,
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verification, investigation, certi fication,
presentation, or review of financial t ransactions
and accounting records or an attestation
concerning any other written assertion,
(3) prepares or certifies for clients reports on
audits or investigations of books or records of
account, balance sheets, and other financial,
accounting and relat ed schedules, exhibits,
statements, or reports which are to be used for
publication or for the purp ose of obtaining
credit, or for filing with a court of law or with
any governmental agency, or for any other
purpose,
(4) generally or incidentally to the wo rk described
herein, renders professional services to clients
in any or all matters relating to acc ounting
procedure and to the recording, presentation , or
certification of financial information or data,
(5) keeps books, or prepares trial balances,
financial statements, or reports, all as a part
of bookkeeping services for clients,
(6) prepares or signs as the tax preparer, tax
returns for clients, consults with clients on tax
matters, conducts studies for cli ents on tax
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matters and prepares reports for cli ents on tax
matters, unless the services are uncompensated
and are limited solely to the registrant ’s, or
the registrant’s spouse’s lineal and collateral
heirs,
(7) prepares personal financial or investment p lans
or provides to clients products or services of
others in implementation of personal financial or
investment plans, or
(8) provides management advisory services to clients.
b. Except for an individual granted practice privileges
under Section 15.12A of this title or a firm exempt
from the permit and registration requirements under
Section 15.15C of this title, an individual or firm
not holding a certificate, license or permit shall not
be deemed to be engaged in the practice of public
accounting if the individual or firm does not hold
itself out, solicit, or advertise for clients using
the certified public accountant or public accountant
designation and engages only in the following
services:
(1) keeps books, or prepares trial balances,
financial statements, or reports,; provided, such
instruments do not use the terms “audit”,
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“audited”, “exam”, “examined”, “review” or
“reviewed” or are not exhibited as having been
prepared by a certified public accountant or
public accountant. Except for an individual
granted practice privileges under Section 15.12A
of this title or a firm exempt from the permit
and registration requirements under Section
15.15C of this title, nonregistrants may use the
following disclaimer language in connection with
financial statements and be in compliance with
the Oklahoma Accountan cy Act: “I (we) have not
audited, examined or reviewed the accompanying
financial statements and a ccordingly do not
express an opinion or any other form of assurance
on them.”,
(2) prepares or signs as the tax preparer, tax
returns for clients, consults w ith clients on tax
matters, conducts studies for clients on tax
matters and prepares reports for cl ients on tax
matters,
(3) prepares personal financial or investment plans
or provides to clients products o r services of
others in implementation of personal financial or
investment plans, or
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(4) provides management advisory services to clients.
c. Only permit holders, individuals granted practice
privileges under Section 15.12A of this title, or
firms exempt from the permit and registration
requirements under Section 15.15C of this title and
who also meet the requirements of paragraph 3 of
subsection A of Section 15.15 of this title may render
or offer to render any attest service, as defined
herein, or issue a report on financial state ments
which purport to be in compliance with the Statements
on Standards for Accou nting and Review Services
(SSARS). This restriction shall not prohibit any act
of a public official or public employee in the
performance of that p erson’s duties. This rest riction
shall not be construed to prohibit the performance by
any unlicensed indiv idual of other services as set out
in subparagraph b of this paragraph.
d. A person is not deemed to be practicing public
accounting within the mean ing of this section solely
by displaying an Oklahom a CPA certificate or a PA
license in an office, identifyi ng himself or herself
as a CPA or PA on letterhead or business cards, or
identifying himself or herself as a CPA or PA.
However, the designation of CPA or PA on such
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letterheads, business cards, public signs,
advertisements, publications directed to clien ts or
potential clients, financial or t ax documents of a
client, performance of any attest service or issuance
of a report constitutes the practice of public
accounting and requires a permit, practic e privileges
under Section 15.12A of this title, or an ex emption
from the permit and registratio n requirements under
Section 15.15C of this title;
35. “Preissuance review” means a review preformed pursuan t to a
set of procedures that include review of eng agement document,
report, and clients’ financial statements in order to permit the
reviewer to assess compliance with all applicable professional
standards;
36. “Principal place of business ” means the office location
designated by the licensee for the pur poses of substantial
equivalency and reciprocity;
37. “Professional corporation ” means a corporation organized
pursuant to the laws of this state;
38. “Professional” means arising out of or related to th e
specialized knowledge or skills associated with C PAs or PAs;
39. “Public accountant” means any individual who has received a
license from the Board;
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40. “Public interest” means the collective well -being of the
community of people and institutions the p rofession serves;
41. “Qualification applicant” means an individual who has made
application to the Board t o qualify to become a candidate for
examination;
42. “Registrant” means a CPA, PA, or firm composed of certified
public accountants or public accou ntants or combination of b oth
currently registered with the Board pursuant to the authority of the
Oklahoma Accountancy Act;
43. “Report”, when used with reference to any attest or
compilation service, means an opinion, report or other form of
language that states or implies assur ance as to the reliabilit y of
the attested information or complied financial state ments, and that
also includes or is acc ompanied by any statement or implication that
the person or firm issuing it has special knowledge or competen ce in
accounting or auditi ng. Such a statement or implication of special
knowledge or competence may arise from use by the issuer of the
report of names or titles indicating that the person or firm is an
accountant or auditor, or from the language of the report itself.
The term “report” includes any form of language which disclaims an
opinion when such form of language is conventionally understood to
imply any positive assurance as to the reliability of the attested
information or compiled financial state ments referred to and/or
special competence on the part of the person or firm issuing such
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language; and it includes any other form of language tha t is
conventionally understood to imply such assurance and/or such
special knowledge or competence. This def inition is not intended to
include a report prepare d by a person not holding a certificate or
license or not granted practice privileges under Sect ion 15.12A of
this title. However, such report shall not refer to “audit”,
“audited”, “exam”, “examined”, “review” or “reviewed”, nor use the
language “in accordance with standards established by the American
Institute of Certified Public Accountants ” or successor of said
entity, or governmental agency approved by the Board, except for the
Internal Revenue Servi ce. Except for an individ ual granted practice
privileges under Section 15.12A of this title or a firm exemp t from
the permit and registration requ irements under Section 15.15C of
this title, nonregistrants may use the following disclaimer language
in connection with financial stat ements not to be in viola tion of
the Oklahoma Accountancy Act: “I (we) have not audited, examined,
or reviewed the accom panying financial statements and accordingly do
not express an opinion or any other form of assurance on them .”;
44. “Representation” means any oral or written communication
including but not limited to the use of ti tle or legends on
letterheads, business cards, office doors, advertisements, and
listings conveying the fact that an individual or entity holds a
certificate, license or perm it;
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45. “Review”, when used with reference to financial statements,
means a registrant or an individual granted practice privileges
under Section 15.12A of this title, that also meets the requirements
of paragraph 3 of subsection A of Section 15.15 of thi s title or a
firm exempt from the permit and registration requirements under
Section 15.15C of this title performing inquiry and analytical
procedures that provide the registran t with a reasonable basis for
expressing limited assurance that there are no ma terial
modifications that should be made to the statements in order for
them to be in conformity with generally accepted acco unting
principles or, if applicable, with another co mprehensive basis of
accounting; and
46. “Substantial equivalency” is a determination by the
Oklahoma Accountancy Board or its designee that:
a. the education, examination and experience requirements
contained in the statutes and administrative rules of
another jurisdiction are comparable to, or exceed, the
education, examination an d experience requirements
contained in the AICPA/NASBA Uniform Accountancy Act,
or
b. that an individual certified public acc ountant’s or
public accountant’s education, examinat ion and
experience qualifications are c omparable to or exceed
the education, examination and experience requirements
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contained in the Oklahoma Accountancy Act and rules of
the Board.
In ascertaining subst antial equivalency as used in the Oklahoma
Accountancy Act, the Board or its designee shall take into account
the qualifications wi thout regard to the sequence in which
experience, education, or examination requirements were attained.
SECTION 2. AMENDATORY 59 O.S. 2011, Section 15.2, as
last amended by Section 6, Chapter 116, O.S.L. 2020 (59 O.S. Supp.
2020, Section 15.2), is amended to read as follows:
Section 15.2. A. There is hereby re -created, to continue until
July 1, 2023, in accordance with the provisions of the Oklahoma
Sunset Law, the Oklahoma Accountancy Board. The Oklahoma
Accountancy Board shall have the responsibility fo r administering
and enforcing the Oklahoma Accountancy Act. The Oklahoma
Accountancy Board shall be composed of seven (7) members, who shall
have professional or practical experience in the use of account ing
services and financial matters, so as to be qua lified to make
judgments about the qualifications and conduct of persons and firms
subject to regulation under the Oklahoma Accountancy Act to be
appointed by the Governor and confirmed by the Senate. The number
of registrant members shall not be more tha n six, not including a
firm, who shall serve terms of five (5) years. No member who h as
served two successive complete terms shall be eligible for
reappointment, but an appointment to fill an unexpired te rm shall
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not be considered a complete term for this purpose. The public
member shall serve coterminously with the Governor appointing th e
public member.
B. One member shall be either a public accountant licensed and
holding a permit pursuant to the provi sions of the Oklahoma
Accountancy Act, or a person with professional or practical
experience in the use of accounting services and financ ial matters
and who shall have met the educational requirements to qualify a s a
candidate for examination for the licen se of public accountant as
provided in subsection B of Section 15.8 of this title. A list of
qualified persons shall be compiled and sub mitted to the Governor by
the Oklahoma Society of Public Accountants, or suc cessor
organization from time to time as ap pointment of the Board member is
required to be made. A list of three names shall be submitted for
each single appointment from which th e Governor may make the
appointment.
C. Five members shall be certified pub lic accountants holding
certificates and four shall hold permits issued pursuant to the
provisions of the Oklahoma Accountancy Act, at least four of whom
shall have been engaged in the practice of public accounting as a
certified public accountant continuo usly for not less than five (5)
out of the last fifteen (15) years immediately preceding their
appointments. A list of qualified persons shall be compiled and
submitted to the Gov ernor by the Oklahoma Society of Certified
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Public Accountants from time to t ime as appointments of the
certified public accountant Board members are required. A list of
three names shall be submitted for each single appointment from
which the Governor may make the appointment.
D. One member C. Two members shall be a public member members
who is are not a certified public accountant accountants or licensed
public accountant accountants. The public member members shall be
appointed by the Governor to a term coterminous with the Governor.
The public member members shall serve at the pleasure of the
Governor.
E. D. Upon the expiration of the term of office, a member shall
continue to serve until a qualified successor has been appointed.
Confirmation by the S enate is required during the next regular
session of the Oklahoma Senate for the member to continue to serve.
SECTION 3. AMENDATORY 59 O.S. 2011, Section 15.11, is
amended to read as follows:
Section 15.11. A. No individual, other than as described in
subparagraph d of paragraph 34 of Section 15.1A of this title, shall
assume or use the title o r designation “Certified Public Accountant”
or the abbreviation “C.P.A.” or any other title, designation, words,
letters, abbreviation, sign, card, o r device tending to indicate or
represent that such individual is a certified public accountant,
unless such individual has received a certificate as a certif ied
public accountant and holds a valid permit issued pursuant to the
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provisions of the Oklahoma A ccountancy Act or is granted practice
privileges under Section 15.15C of this title that also meets the
requirements of paragraph 3 of subsection A of Section 15.15 of this
title. All offices in this state for the practice of public
accounting by such individual shall be maintained and registered as
required by the Oklahoma Accountancy Act.
B. No entity shall assume or use the title or designation
“Certified Public Accountant” or the abbreviation “C.P.A.” or any
other title, designation, words, letters, abbreviation, sign , card
or device tending to indicate or represent that such entity is
composed of certified public accountants unless such entity is
registered as a firm of certified public accountants and holds a
valid permit issued pursuant to the provisions of the Okla homa
Accountancy Act or is exempt from the registration and permit
requirements under Section 15.15C of this title. All offices in
this state for the practice of public accounting by such entity
shall be maintained and registered as required by the Oklaho ma
Accountancy Act.
C. No individual, other than as described in subparagraph d of
paragraph 34 of Section 15.1A of this title, shall assume or use the
title or designation “Public Accountant” or the abbreviation “P.A.”
or any other title, designation, wo rds, letters, abbreviation, sign,
card, or device tending to indicate or repre sent that such
individual is a public accountant, unless such individual is
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licensed as a public accountant, or is a certified public accountant
and holds a valid permit issued p ursuant to the provisions of the
Oklahoma Accountancy Act. All offices in thi s state for the
practice of public accounting by such individual shall be maintained
and registered as required by the Oklahoma Accountancy Act.
D. No entity shall assume or use the title or designation
“Public Accountant” or any other title, designation, words, letters,
abbreviation, sign, card, or device tending to indicate or represent
that such entity is composed of public accountants, unless such
entity is registered as a fi rm of public accountants and holds a
valid permit issued pursuant to the provi sions of the Oklahoma
Accountancy Act. All offices in this state for the practice of
public accounting by such entity shall be maintained and registered
as required by the Oklah oma Accountancy Act.
E. No individual or entity shall assume or use the title or
designation “Certified Accountant”, “Chartered Accountant”,
“Enrolled Accountant”, “Licensed Accountant”, “Registered
Accountant” or any other title or designation which coul d be
confused with “Certified Public Accountant ” or “Public Accountant”,
or any of the abbreviations “CA”, “EA”, except as it relates to the
term “enrolled agent” as defined by the Internal Revenue Service,
“RA”, or “LA”, or similar abbreviations which cou ld be confused with
“CPA” or “PA”; provided, however, that anyone who holds a valid
permit and whose offices in this state for the practice of public
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accounting are maintained and registered as required by the Oklahoma
Accountancy Act or is granted practic e privileges under Section
15.12A of this title may hold oneself out to the pu blic as an
“Accountant” or “Auditor”.
F. No individual or entity not holding a valid permit, not
granted practice privileges under Section 15.12A of this title, or
not exempt from the permit requirement under Section 15.15C of this
title that also meets the requireme nts of paragraph 3 of subsection
A of Section 15.15 of this title shall hold oneself or itself out to
the public as an “Accountant” or “Auditor” by use of either or both
of such words on any sign, card, letterhead, or in any advertisement
or directory, without specifically indicating that such individual
or entity does not hold such a pe rmit. The provisions of this
subsection shall not be construed to prohibit any officer, employee,
partner or principal of any entity from describing oneself by the
position, title or office one holds in such organization; nor shall
this subsection prohibi t any act of public official or public
employee in the performance of the duties as such.
G. Any individual or entity who is registered with the Board
but does not hold a v alid permit issued pursuant to the Oklahoma
Accountancy Act may not issue a report on financial statements of
any other person, firm, organization recognized by the State of
Oklahoma, or governmental unit. This prohibition does not apply to
an officer, partner, or employee of any firm or organization
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affixing a signature to any statemen t or report in reference to the
financial affairs of such firm or organization with any wording
designating the position, title, or office that is held therein; nor
prohibit any act of a public official or employee in the performance
of the duties as such.
SECTION 4. AMENDATORY 59 O.S. 2011, Section 15.12A, is
amended to read as follows:
Section 15.12A. A. 1. An individual whose principal place of
business is not in this state a nd who holds a valid certificate or
license as a Certified Public Accountant or Public Accountant from
any jurisdiction which the Oklahoma Accountancy B oard’s designee has
verified to be in substantial equi valence to the Certi fied Public
Accountant and Public Accountant licensure requirements of the
AICPA/NASBA Uniform Accountancy Act shall be presumed to have
qualifications substantially equivalent to th is state’s requirements
and shall have all the privile ges of certificate a nd license holders
of this state without the need to obtain a certificate, license or
permit required under Sections 15.9, 15.13, 15.14A, 15.15 and 15.15A
of this title. An individu al who offers or renders professional
services, whether in person or by ma il, telephone or electronic
means, under this section shall be granted practice privileges in
this state and no notice, fee or submission shall be provided by any
such individual. Such an individual shall be subject to the
requirements in paragraph 3 of this subsection.
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2. An individual whose principal place of business is not in
this state who holds a valid certificate or license as a Certified
Public Accountant or Public Accountan t from any jurisdiction which
the Oklahoma Accountancy Board’s designee has not verified to be in
substantial equivalence to the Certified Public Accountant licensure
requirements of the AICPA/NASBA Uniform Accountancy Act shall be
presumed to have qualifi cations substantially equivalent to this
state’s requirements and shall ha ve all the privileges of
certificate and license holders of this state without the need to
obtain a certificate, license or permit required under Sections
15.9, 15.13, 15.14A, 15.15 and 15.15A of this title. Any individual
who passed the Uniform CPA Exami nation and holds a valid certi ficate
or license issued by any other state prior to January 1, 2012, may
be exempt from the education requirement of the Uniform Accountancy
Act for purposes of this paragraph. An individual who offers or
renders professional services, whether in person, or by mail,
telephone or electronic means, under this section, shall be granted
practice privileges in this state and no notice, fee or submission
shall be provided by any such individual. Such an individ ual shall
be subject to the requirements in paragr aph 3 of this subsection.
3. An individual certificate holder or license holder of
another jurisdiction exercising the privilege afforded under this
section, and any firm which employs that certificate hol der or
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license holder hereby simultaneously consen t, as a condition of the
granting of this privilege:
a. to the personal and subject matter jurisdiction and
disciplinary authority of the Board,
b. to comply with the Oklahoma Accountancy Act and the
Board’s rules,
c. that in the event the certificate hold er or license
holder from the jurisdiction of the individual ’s
principal place of business is no longer valid, the
individual will cease offering or ren dering
professional services in this state individuall y or on
behalf of a firm, and
d. to the appointment of the state board which issued the
certificate or license as the agent upon whom process
may be served in any action or proceeding by the Board
against the certificate or license holder.
4. A certified public accounting or public accounting firm that
is licensed and has its primary place of business in another state,
does not have an office in this state and does not provide the
professional services described in subparagraphs a, b, and c of
paragraph 5 of this subsection f or a client whose home office is in
this state, is not subject to the requirements of paragraph 1 or 2
of subsection A of Section 15.15 of this title may practice perform
services described in subsection 12 of Section 15.1A of this title
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and other nonattest professional services while using the title
“CPA” or “CPA firm” in this state without a firm license, permit, or
notice to the Board if the firm ’s practice in this state is
performed by an individual who is licensed in Oklahoma or who has
been granted practice privileges under parag raph 1 or 2 of this
subsection, and the firm can lawfully do so in the state where the
individuals with practice privileges have the ir principal place of
business.
5. An individual who has been granted practice privileges unde r
this section who, for any entity with its home office in this state,
performs any of the following services:
a. any audit or other engagement to be performed in
accordance with Statements on Auditing Standards,
b. any review of a financial statement to b e performed in
accordance with the Statements on Standards for
Accounting and Review Services (SSARS),
c. any report performed in accordance with Statements on
Standards for Attestation Engagements (SSAE), and
d. any engagement to be performed in accordanc e with the
Auditing Standards of the Public Company Accounting
Oversight Board (PCAOB),
attest services described in subsection 5 of Section 15.1A of this
title may only do so throug h a firm which meets the requirements of
paragraph 3 of subsection A of Section 15.15 of this title for
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exemption from the registration requirements o r which has obtained a
registration under Section 15.15 and a permit issued under Section
15.15A of this title.
B. A registrant of this state offering or rendering services or
using the registrant’s CPA or PA title in another jurisdiction shall
be subject to disciplinary action in this state fo r an act committed
in another jurisdiction which would sub ject the certificate or
license holder to discipline in that jurisdiction. The Bo ard shall
be required to investig ate any complaint made by the board of
accountancy of another jurisdiction.
SECTION 5. AMENDATORY 59 O.S. 2011, Section 15.14A, as
last amended by Section 5, Chapter 327, O.S.L. 2019 (59 O.S. Supp.
2020, Section 15.14A), is amended to read as follows:
Section 15.14A. A. Before any individual may practice public
accounting or hold himself or herself out as being engaged in the
practice of public accounting as a certified public accountant or
public accountant in this state, such per son shall obtain a permit
from the Oklahoma Acc ountancy Board, unless such person is g ranted
practice privileges under Section 15.12A of this title. Any
individual, corporation or partnership or any other entity who
provides any of the services defined he reinabove as the “practice of
public accounting” without holding a license and permit, or without
holding a certificate and permit, shall be assessed a fine not to
exceed Ten Thousand Dollars ($10,000.00) for each separate offense,
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unless such person is gr anted practice privileges under Section
15.12A of this title, or such entity is exempt from the permit and
registration requirements of Section 15.15C of this title or is
exempt from the registration requirements of paragra ph 3 of
subsection A of Section 1 5.15 of this title.
B. The Board shall promulgate rules establishing the
qualifications for obtaining a permit to practice public accounting
in this state. Such rules shall include but not be limited to
provisions that:
1. Any individual seeking a permi t must have a valid
certificate or license;
2. Any individual or entity seeking a per mit must be registered
pursuant to the provisions of the Oklahoma Accou ntancy Act;
3. Any individual seeking a permit must meet continui ng
professional education require ments as set forth by the Oklahoma
Accountancy Act and rules promulgated by the Board; and
4. There shall be no examination for obtaining a permit.
C. All such individuals shall, upon application and compliance
with the rules establishing qualifications for obtaining a permit
and payment of the fees, be granted an annual permit to practic e
public accounting in this state. Al l permits issued shall be
renewed on the last day of the individual ’s birth month in
conjunction with the registrant’s certificate or license renewal.
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The Board may issue interim permits upon payment of the same fees
required for annual permits.
D. Failure to apply for and obtain a perm it shall disqualify an
individual from practicing public accountin g in this state until
such time as a valid permit has been obtained.
E. The Board shall charge a fee for each individu al permit not
to exceed Two Hundred Do llars ($200.00).
SECTION 6. AMENDATORY 59 O.S. 2011, Section 15.15, is
amended to read as follows:
Section 15.15. A. The Oklahoma Accountancy Board, upon
application, shall grant or register any firm, including sole
proprietorships, seeking to pro vide public accounting services to
the public in this state if su ch 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 n ot to exceed One Hundred
Dollars ($100.00). The following must r egister 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 th is state that uses the title
“CPA”, “PA”, “CPA firm” or “PA firm”; or
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3. Any firm that does not have an office in this state but
performs offers or renders attest services as described in
subparagraph a, c, or d of par agraph 5 of Section 15.1A of this
title for a client having its home office in this sta te subsection 5
of Section 15.1A of this title, un less it meets each of the
following requirements :
a. it complies with the qualifications described in
paragraphs 1 and 3 of subsection F of Section 15.15A
of this title,
b. it complies with the qualificati ons described in
Section 15.10 of this title,
c. it performs such services through an individual with
practice privileges under Section 15.12A of this
title, and
d. it 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.
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 fir m in writing by
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certified mail to the last known address of the fi rm, 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 excee d Two Hundred Dollars
($200.00).
G. An individual who has practic e 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, regis tration or permit requirements
of Section 15.9, 15.13, 15.13A, 15. 14 or 15.14A of this title.
SECTION 7. AMENDATORY 59 O.S. 2011, Section 15.15A, as
last amended by Section 1, Chapter 218, O.S.L. 2015 (59 O.S. Supp.
2020, Section 15.15A), is amended to read as follow s:
Section 15.15A. A. The Oklahoma Accountancy Board, upon
application, shall issue a permit to practice public acc ounting to
each firm seeking to provide professional services to the public in
this state except that a firm not required to regist er 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
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paragraph 3 of subsection A of Section 1 5.15 of this title shall
also not be required to obtain a pe rmit under this secti on.
Renewals of firm permits s hall be applied for during the month of
May of each year.
B. Applicants for in itial firm permits shall provide the Board
with the following information:
1. A list of all states in which the firm has app lied for or
been issued a permit or its equivalent w ithin 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 an y other state or jurisdiction;
3. Documentary proof that the firm has complied with the
requirements of the O klahoma Office of the Secretary of State
applicable to such entities; and
4. Such other information as the Board deems appro priate 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 dat e of occurrence:
1. Changes in the partners or shareholders of the fir m;
2. Changes in the structure of the firm;
3. Change of the designated manager of the firm;
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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 t o 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 notificat ion shall be made wit hin thirty (30)
calendar days of the dissolution. The Board shall adop t 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 cont ain but not be limited to the
following information:
1. A list of all partners and shareholders at the time o f
dissolution;
2. The location of each office of the firm at the time of
dissolution; and
3. The date the dissolution becam e effective.
E. The Board shall set a fee of not mo re than Two Hundred
Dollars ($200.00) fo r each initial or renewal firm permit e xcept 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 app lication and
payment of appropriate fees. A firm applying for a permit shall
provide documentary proof to the Board that:
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1. Except as authorized in Section 15.15B of this title, a
simple majority of the ownership of the firm, in te rms of financial
interests and voting rights, belong s to partners or shareholders
engaged in the practice of public accounting in t he 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; a nd
3. All nonlicensed owners a re active individual participants in
the public accounting firm or affiliated e ntities, except as
authorized in Section 15.15B of this title.
G. Each firm seeking a permit to practice accounting as a PA
firm shall be issued a permit by the Board upon appl ication 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 th e ownership of the fi rm, in terms of financial
interests and voting rights, belongs to partn ers 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 incl ude nonlicense holder owners,
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the firm and its ownership must comply wi th 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 certifica te and permit to practice as a certified
public accountant; and
3. All nonlicensed owners are active individu al participants in
the public accounting firm or affiliated entities, except as
authorized in Section 15.15B of this title.
H. Any individual lic ensee who is responsible for su pervising
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 autho rizes 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.
SECTION 8. AMENDATORY 59 O.S. 2011, Section 15.15C, is
amended to read as follows:
Section 15.15C. It shall not be a violation of the Oklahoma
Accountancy Act for a firm which is not registered under Section
15.15 of Title 59 of the Oklaho ma Statutes and does not hold a valid
permit under Section 15.15A of Title 59 of the Oklahoma Statutes
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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 paragr aph 4 of subsection A of
Section 15.12A of Title 59 of the Oklahoma Statutes this title or
meets the requirements of paragraph 3 of subsection A of Section
15.15 of this title, whichever is applicable .
SECTION 9. AMENDATORY 59 O.S. 2011, Section 15.25, is
amended to read as follows :
Section 15.25. Any individual or entity who:
1. Represents himself, herself or itself as having received a
certificate, license , or permit and otherwise presents himself,
herself or itself to the pub lic as having specialized knowledge or
skills associated with CPAs and PAs without having received such
certificate, license, or permit; or
2. Continues to use such title or designation after such
certificate, license , or permit has been recalled, revoked ,
surrendered, canceled, or suspended or refuses to s urrender such
certificate, license , or permit; or
3. Falsely represents himself, herself or itself as being a CPA
or licensed as a public accountant, or firm of CPAs or licensed
public accountants, or w ho incorrectly designates the character of
the certificate, license or permit which he, she or it holds; or
4. Otherwise violates any of the provisions of the Oklahoma
Accountancy Act;
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upon conviction shall be deemed guilty of a misdemeanor.
Provided,; however, that an individual granted practice
privileges under Section 15.12A of this title or a firm exempt from
the permit and registration requirements under Section 15.15C of
this title or paragraph 3 of subsectio n A of Section 15.15 of this
title may hold out as a CPA or a firm of CPAs, respectively, withou t
violation of this section.
SECTION 10. AMENDATORY 59 O.S. 2011, Section 15.37, is
amended to read as follows:
Section 15.37. No ordinance, trust or other legal instrument
shall provide for any audit services to be performed other than by a
registrant holding a valid permit or an individual granted practice
privileges under Section 15.12A of this title or a firm exempt from
the registration requirement under paragraph 3 of subsection A of
Section 15.15 of this title .
SECTION 11. This act shall become effective July 1, 2021.
SECTION 12. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof thi s act shall take effect and
be in full force from and after its passage and approval.
58-1-1183 NP 1/21/2021 3:15:05 PM