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09.24.01.00.htm 09.24.01.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 01 General Regulations Authority: Business Occupations and Professions Article, §2-102, 2-207, 2-209, 2-304―2-307, 2-309, 2-311, 2-313, 2-315, 2-410, and 2-416, Annotated Code of Maryland
09.24.01.01.htm 09.24.01.01. 01 The Board.. A. In this chapter, the following terms have the meanings indicated:. 1) "Client" means the person that retains a licensee for the performance of professional services.. 2) Contingent Fee.. a) "Contingent fee" means a fee established for the performance of any service pursuant to an arrangement in which no fee will be charged unless a specified finding or result is attained, or in which the amount of the fee is otherwise dependent upon the finding or result of
09.24.01.02.htm 09.24.01.02. 02 Repealed..
09.24.01.03.htm 09.24.01.03. 03 Repealed..
09.24.01.04.htm 09.24.01.04. 04 Repealed..
09.24.01.05.htm 09.24.01.05. 05 Transfer of Grades.. A. An applicant who has passed all sections of the Uniform CPA Examination in another state is entitled to receive a license to practice certified public accountancy from the Board without retaking the examination in Maryland if the applicant meets all of the following qualifications:1) The applicant either:. a) Under the paper and pencil testing format, sat for all sections of the initial examination and all unsuccessfully completed sections of subsequent
09.24.01.06.htm 09.24.01.06. 06 Code of Professional Conduct.. A. Independence.. 1) A licensee who is performing an engagement in which the licensee is to issue a written certificate or opinion, other than one in which a lack of independence is disclosed, shall be independent with respect to the client in fact and appearance.2) Independence is considered to be impaired if, for example, during the period of a licensee's professional engagement, or at the time of issuing the written certificate or o
09.24.01.07.htm 09.24.01.07. 07 General Hearing Rules.. The regulations set forth in COMAR 09.01.02 shall govern hearings before the Board..
09.24.01.08.htm 09.24.01.08. 08 Interpretive Regulation on "Conviction" under Business Occupations and Professions Article, §3-315(a)3) Annotated Code of Maryland.In proceedings for suspension or revocation of any license or permit the Board will regard "conviction" under Business Occupations and Professions Article, §3-315(a)3) Annotated Code of Maryland, to have occurred upon the entering of a guilty verdict or acceptance of a plea of nolo contendere in a court of competent jurisdiction.
09.24.01.09.htm 09.24.01.09. 09 Fees.. A. An applicant for a licensing examination shall pay to the Board the examination fee in an amount or amounts set by one or more entities selected by the Board to develop, administer, or score the examination.B. Other fees to be charged by the Board are as follows:. 1) Original examination application fee ― $67;. 2) Application for reciprocity ― $67;. 3) License fee ― $22;. 4) Renewal fee ― $56;. 5) Application for inactive status ― $28;.
09.24.01.10.htm 09.24.01.10. 10 Compilation Reporting Language.. A compilation does not constitute the practice of certified public accountancy if the compilation report:A. Includes the statement "The preparer of this report has not undergone and is not required to undergo peer review"B. Does not reference the Statements on Standards for Accounting and Review Services issued by the AICPA.
09.24.01.9999.htm 09.24.01.9999. Administrative History Effective date:. Regulations .01―03 effective May 2, 1972. Regulations .01―03 amended effective May 12, 1976 (3:10 Md. R. 529). Regulations .04―06 adopted effective May 12, 1976 (3:10 Md. R. 529) ―. Chapter revised effective August 25, 1978 (5:17 Md. R. 1329). Regulation .01A amended effective January 26, 1987 (14:2 Md. R. 128) September 19, 1988 (15:19 Md. R. 2246)Regulation .01D amended effective January 26, 1987 (14:2 Md. R. 128).
09.24.02.00.htm 09.24.02.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 02 Continuing Education Authority: Business Occupations and Professions Article, §2-207(a) 2-311, and 2-312, Annotated Code of Maryland
09.24.02.01.htm 09.24.02.01. 01 Citation of Regulations, Applicability, and Purpose.. A. These regulations may be cited and referred to as the "Accountancy Continuing Education Regulations" The continuing education requirement applies to all persons licensed under Business Occupations and Professions Article, Annotated Code of Maryland, to practice certified public accountancy in this State.B. The requirement does not apply to those licensees who have been placed on inactive status.. C. The public interest re
09.24.02.02.htm 09.24.02.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Application date” means:. a) The date and time an online license application is electronically submitted to the Board;. b) The date a mailed, paper license application is postmarked by the U.S. Postal Service; or. c) The date a paper license application otherwise delivered is stamped by the Board.. 2) “Carried forward” means eligible to be counted towards the continuing ed
09.24.02.03.htm 09.24.02.03. 03 Basic Requirement.. A. An applicant for license renewal shall complete, prior to submitting an application, a minimum of 80 credit hours of qualifying continuing education in each 2-year license term.B. The requirement in §A of this regulation does not apply to the first renewal of a license.. C. Professional Ethics.. 1) A minimum of 4 credit hours of the continuing education for each 2-year license term shall be in professional ethics.2) Credit hours in profes
09.24.02.04.htm 09.24.02.04. 04 Qualifying Continuing Education Programs and Methods.. A. The overriding consideration in determining whether a specific program or method qualifies is that it shall be a program or method of learning which contributes directly to the professional competence of an individual after this individual has been licensed to practice certified public accountancy.B. Group Continuing Education Programs..
09.24.02.05.htm 09.24.02.05. 05 Controls and Reporting.. A. Applicants for license renewal or reinstatement shall provide a certification of compliance with the license requirements, under Business Occupations and Professions Article, §2-311 and 2-312, Annotated Code of Maryland, under penalty of perjury, in an appropriate form specified by the Board.B. An applicant for license renewal or reinstatement who reports continuing education credit hours to the Board shall retain the applicable documentat
09.24.02.06.htm 09.24.02.06. 06 Exceptions.. The Board may issue a license to any applicant who has not fully complied with the continuing education requirements in cases when failure by the applicant to fulfill this requirement has been caused by reason of any of the following:A. Health as certified by a medical doctor;. B. Military service on extended active duty with the armed forces of the United States;. C. Other good and valid causes, as determined and approved by the Board..
09.24.02.9999.htm 09.24.02.9999. Administrative History Effective date: January 5, 1977 (4:1 Md. R. 17). Chapter revised effective August 25, 1978 (5:17 Md. R. 1329). Regulation .01 amended effective January 26, 1987 (14:2 Md. R. 128). Regulation .01B amended effective February 28, 1994 (21:4 Md. R. 276). Regulation .02 amended effective January 26, 1987 (14:2 Md. R. 128) October 1, 2006 (32:23 Md. R. 1825) May 18, 2009 (36:10 MRegulation .02A amended and C repealed effective August 15, 1983 (10:16 Md. R. 1454).
09.24.03.00.htm 09.24.03.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 03 Practical Work Experience Authority: Business Occupations and Professions Article, §2-207(a) Annotated Code of Maryland
09.24.03.01.htm 09.24.03.01. 01 Experience Required for Initial License.. A. In order to receive an initial license, an applicant shall provide evidence of practical work experience meeting the requirements of Business Occupations and Professions Article, §2-302(f) Annotated Code of Maryland.B. Verification of Work Experience.. 1) Only work experience verified by a certified public accountant holding an active license may be approved.2) The Board may require a certified public accountant who has verified an
09.24.03.9999.htm 09.24.03.9999. Administrative History Effective date: August 25, 1978 (5:17 Md. R. 1329). Regulation .01 amended effective October 5, 1979 (6:20 Md. R. 1628) April 11, 1983 (10:7 Md. R. 633) January 26, 1987 (14:2 Md. R. 128) July 19, 1993 (20:14 Md. R. 1169)Regulation .01 repealed and new Regulation .01 adopted effective January 8, 2001 (27:26 Md. R. 2358).
09.24.04.00.htm 09.24.04.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 04 Firm Permits and Ownership Authority: Business Occupations and Professions Article, §2-207 and 2-401―2-403, Annotated Code of Maryland
09.24.04.01.htm 09.24.04.01. 01 Permits.. Except sole proprietorships, any firm in which certified public accountancy is practiced shall have a permit issued by the Board under the requirements in Business Occupations and Professions Article, Title 2, Subtitle 4, Annotated Code of Maryland.
09.24.04.02.htm 09.24.04.02. 02 Ownership Interest.. A majority of the ownership interest, in terms of financial interests and voting rights, of a firm in which certified public accountancy is practiced shall be owned by individuals licensed to practice certified public accountancy in this State or another state.
09.24.04.03.htm 09.24.04.03. 03 Registration of the Firm.. Any firm in which certified public accountancy is practiced shall designate and identify to the Board an individual licensed to practice certified public accountancy in this State who shall be responsible for the proper registration of the firm and communication with the Board.
09.24.04.04.htm 09.24.04.04. 04 Nonlicensee Owners.. A. An individual not licensed to practice certified public accountancy may have an ownership interest in a firm in which certified public accountancy is practiced, if the individual is an active participant in the business of the firm or its affiliated entities.B. To determine whether a nonlicensee owner is an active participant in the business of the firm or its affiliated entities, the Board shall consider the:1) Number of hours the no
09.24.04.9999.htm 09.24.04.9999. Administrative History Effective date: September 29, 2003 (30:19 Md. R. 1331). Regulation .04 amended effective May 18, 2009 (36:10 Md. R. 716).
09.24.05.00.htm 09.24.05.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 05 Examinations Authority: Business Occupations and Professions Article, §2-207, 2-303, 2-305, and 2-307, Annotated Code of Maryland
09.24.05.01.htm 09.24.05.01. 01 Purpose.. This chapter establishes criteria for the Uniform CPA Examination, which:. A. Tests the knowledge and skills required by the Board for performance as an entry-level certified public accountant; andB. Includes the subject areas of accounting, auditing, and related knowledge and skills as the Board may require.
09.24.05.02.htm 09.24.05.02. 02 Definitions.. A. In this chapter, the following terms have the meaning indicated.. B. Terms Defined.. 1) "Administration window" means one of four quarterly periods during the year in which a candidate may sit for any section of the Uniform CPA Examination.2) "Applicant" means an individual who applies to take the Uniform CPA Examination.. 3) "Candidate" means an individual who is approved by the Board to take the Uniform CPA Examination.. 4) "Cheating" means:.
09.24.05.03.htm 09.24.05.03. 03 Educational Requirements.. A. To take the Uniform CPA Examination, an applicant shall satisfactorily complete:. 1) Unless otherwise indicated, a minimum of 27 undergraduate semester hours or 40.5 undergraduate quarter hours of accounting education to include each of the following subjects:a) Auditing of at least 3 undergraduate semester hours or 4.5 undergraduate quarter hours;. b) Financial accounting of at least 9 undergraduate semester hours or 13.5 undergraduate quarter hou
09.24.05.04.htm 09.24.05.04. 04 Filing an Application with the Board.. A. Each original applicant shall:. 1) File an application with the Board on forms that the Board approves; and. 2) Submit the appropriate fee and the official transcripts demonstrating completion of the educational requirements set forth in Regulation .03 of this chapter to the address designated by the Board on the appropriate application forms.B. A candidate may choose to take the examination sections individually and in any order..
09.24.05.05.htm 09.24.05.05. 05 Conditional Credit.. A. A candidate who received a score of 75 or higher in any examination section shall earn conditional credit for passing the section.B. A candidate who receives conditional credit is excused from retaking the examination section passed, if the candidate passes the remaining sections of the examination within 18 months from the date the first section was passed.C. A candidate who fails to pass all sections of the examination within 18 months from the date the
09.24.05.06.htm 09.24.05.06. 06 Professional Ethics Examination.. A. Before applying for a license, an individual who has successfully passed all of the examination sections of the Uniform CPA Examination shall pass the examination in professional ethics approved by the Board.B. The individual shall pay the cost of the examination in professional ethics..
09.24.05.9999.htm 09.24.05.9999. Administrative History Effective date: March 29, 2004 (31:6 Md. R. 508). Regulation .03 amended effective December 31, 2007 (34:26 Md. R. 2262) October 3, 2011 (38:20 Md. R. 1202) April 28, 2014 (41:8 Md. R. 470)Regulation .03A amended effective May 18, 2009 (36:10 Md. R. 716).
09.24.06.00.htm 09.24.06.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 06 Peer Review Authority: Business Occupations and Professions Article, §2-207 and 2-4A-01―2-4A-06, Annotated Code of Maryland
09.24.06.01.htm 09.24.06.01. 01 Scope.. A. A firm that provides any of the services described in Business Occupations and Professions Article, §2-4A-04, Annotated Code of Maryland, shall be required to undergo, at least once every 3 years, a peer review as a condition of permit renewal.B. A licensee who provides any of the services described in Business Occupations and Professions Article, §2-4A-04, Annotated Code of Maryland, in a firm holding a permit issued by the Board is not required to undergo a separ
09.24.06.02.htm 09.24.06.02. 02 Requirements for Peer Reviews.. A. In order to qualify for purposes of license or permit renewal, a peer review shall be conducted in an approved peer review program in accordance with:1) The Standards for Performing and Reporting on Peer Reviews of the American Institute of Certified Public Accountants; or2) An equivalent set of standards approved by the Board.. B. The Board shall maintain on its website a list of all approved peer review programs and standards.
09.24.06.03.htm 09.24.06.03. 03 Requirements for Peer Reviewers.. A. Approval by the Board.. 1) Before conducting a peer review, an individual shall be approved by the Board.. 2) An individual seeking Board approval as a peer reviewer shall file an application on a form provided by the Board.3) An individual who is authorized as a peer reviewer by a program approved by the Board shall be provisionally approved by the Board pending verification of the individual's qualifications.
09.24.06.04.htm 09.24.06.04. 04 Peer Review Reporting.. A. An approved peer review program shall notify the Board upon completion of a peer review within that program that is intended to satisfy the peer review requirements of the Maryland Public Accountancy Law.B. A peer reviewer shall ensure that a copy of the report of findings is provided to the Board only under the circumstances set forth in Business Occupations and Professions Article, §2-4A-05(e) Annotated Code of Maryland.
09.24.06.9999.htm 09.24.06.9999. Administrative History Effective date: October 9, 2006 (33:20 Md. R. 1615).
09.24.07.00.htm 09.24.07.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 24 BOARD OF PUBLIC ACCOUNTANCY Chapter 07 Notification of Intent to Practice ― Repealed Administrative History Effective date: October 9, 2006 (33:20 Md. R. 1615) ―Chapter repealed effective May 18, 2009 (36:10 Md. R. 717).
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