Michigan Laws 339.724 – Conduct not prohibited by article
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Terms Used In Michigan Laws 339.724
- Certified public accountant: means an individual who is either of the following:
(i) Qualified by education, examination, and experience to engage or offer to engage in the practice of public accounting as evidenced by the issuance of a certificate as a certified public accountant under section 725 or 726 and a license or registration issued under section 727. See Michigan Laws 339.720Firm: means a corporation, partnership, limited liability company, unincorporated association, sole proprietorship operating under an assumed name, or other legal entity. See Michigan Laws 339.720 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l practice of public accounting: means rendering or offering to render an opinion on or attesting to or offering to attest to the reliability of a representation or estimate, including, but not limited to, the giving of an opinion in substance that 1 or more of the following types of information concerning the entity that is the subject of the opinion present fairly the condition of the entity:
(i) Financial or other information about which the opinion is given. See Michigan Laws 339.720Report: when used with reference to an attest or compilation service, means an opinion, report, or other form of language that states or implies assurance as to the reliability of attested information or compiled financial statements and that also includes, or is accompanied by, any statement or implication that the individual or firm issuing it has special knowledge or competence in accounting or auditing. See Michigan Laws 339.720 state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
This article does not prohibit the following:
(a) An individual who is not a certified public accountant from serving as an employee of, or an assistant to, a certified public accountant or firm composed of certified public accountants who are licensed to practice under this article if the individual does not issue an accounting or financial statement over his or her name.
(b) A licensed certified public accountant of another licensing jurisdiction who does not meet the requirements of section 727a, or an accountant who is licensed in a foreign country for the practice of public accounting in that country, from temporarily and periodically engaging in the practice of public accounting in this state if all of the following requirements are met:
(i) The individual is conducting a regular practice of public accounting in another licensing jurisdiction or foreign country.
(ii) The temporary practice is conducted in conformity with section 736 and applicable rules promulgated by the director, if any.
(iii) The individual secures a temporary permit from the department to conduct the practice in this state.
(c) A practicing attorney from preparing reports or presenting records customarily prepared by an attorney in connection with the attorney’s professional work.
(d) A person from preparing a financial report or tax return, not requiring the expression of an opinion on the report or return, for filing with a federal, state, or local governmental unit.
(e) An officer, employee, partner, or principal of an organization from signing a statement or report in reference to the financial affairs of the organization with wording designating the position, title, or office which the officer, employee, partner, or principal of an organization holds in that organization.
(f) An act of a public official or public employee in the performance of that individual’s official duties.
(g) An individual who may be employed by more than 1 individual or firm from keeping books, making trial balances or statements, and preparing audits or reports, if the audits or reports are not used or issued by the employer as having been prepared by a certified public accountant.
(h) A firm that does not hold a valid license under section 728 and that does not have an office in this state from providing its professional services in this state in the practice of public accountancy and from using the certified public accountant designation so long as it complies with the requirements of section 728(4) or (5), whichever is applicable.