(a) An individual whose principal place of business is not in this state and who has a current and active license, certificate, or permit to practice public accountancy from another state may, subject to the conditions and limitations in this article, engage in the practice of public accountancy in this state under a practice privilege without obtaining a certificate or license under this chapter. (b) An individual who qualifies for the practice privilege under this section may engage in the practice of public accountancy in this state, and a notice, fee, or other requirement shall not be imposed on that individual by the board. (c) An individual who qualifies for the practice privilege under this section may perform the following services only through a firm of certified public accountants that has obtained a registration from the board pursuant to Section 5096.12: (1) An audit or review of a financial statement for an entity headquartered in California. (2) A compilation of a financial statement when that person expects, or reasonably might expect, that a third party will use the financial statement and the compilation report does not disclose a lack of independence for an entity headquartered in California. (3) An examination of prospective financial information for an entity headquartered in California. (d) An individual who holds a practice privilege under this article, and is exercising the practice privilege in California: (1) Is subject to the personal and subject matter jurisdiction and disciplinary authority of the board and the courts of this state. (2) Shall comply with the provisions of this chapter, board regulations, and other laws, regulations, and professional standards applicable to the practice of public accountancy by the licensees of this state and to any other laws and regulations applicable to individuals practicing under practice privileges in this state, except the individual is deemed, solely for the purpose of this article, to have met the continuing education requirements of this state when the individual has met the continuing education requirements of the state in which the individual holds the current and active license, certificate, or permit. (3) Shall not provide public accountancy services in this state from any office located in this state, except as an employee of a firm registered in this state. This paragraph does not apply to public accountancy services provided to a client at the clientâs place of business or residence. (4) Is deemed to have appointed the regulatory agency of the state in which the principal place of business identified by the individual is located, as the individualâs agent on whom notices, subpoenas, or other process may be served in any action or proceeding by the board against the individual. (5) Shall cooperate with any board investigation or inquiry and shall timely respond to a board investigation, inquiry, request, notice, demand, or subpoena for information or documents and timely provide to the board the identified information and documents. (6) Shall cease exercising the practice privilege in this state if a regulatory agency in a state in which the individual holds a certificate, license, or permit takes disciplinary action resulting in the suspension or revocation, including stayed suspension, stayed revocation, or probation of the individualâs certificate, license, or permit, or takes other disciplinary action against the individualâs certificate, license, or permit that arises from any of the following: (A) Gross negligence, recklessness, or intentional wrongdoing relating to the practice of public accountancy. (B) Fraud or misappropriation of funds. (C) Preparation, publication, or dissemination of false, fraudulent, or materially incomplete or misleading financial statements, reports, or information. (7) Shall cease exercising the practice privilege in this state if convicted in any jurisdiction of any crime involving dishonesty, including, but
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