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 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. 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.
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