1. The board may grant or renew licenses to persons who make application and demonstrate that their qualifications, including the qualifications prescribed by section 326.280, are in accordance with this section.
2. Licenses shall be initially issued and renewed for periods of not more than three years and shall expire on the renewal date following issuance or renewal. Applications for licenses shall be made in such form, and in the case of applications for renewal, between such dates, as the board by rule shall specify. Application and renewal fees shall be determined by the board by rule.
Terms Used In Missouri Laws 326.286
- Appraisal: A determination of property value.
- Board: the Missouri state board of accountancy established under section Missouri Laws 326.256
- Certificate: a certificate issued under section Missouri Laws 326.256
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- 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.
- License: a license issued under section Missouri Laws 326.256
- Licensee: the holder of a license as defined in this section. See Missouri Laws 326.256
- NASBA: the National Association of State Boards of Accountancy. See Missouri Laws 326.256
- Permit: a permit to practice as a certified public accounting firm issued under section Missouri Laws 326.256
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Principal place of business: the office location designated by the licensee for purposes of substantial equivalency and reciprocity. See Missouri Laws 326.256
- Professional: arising out of or related to the specialized knowledge or skills associated with certified public accountants. See Missouri Laws 326.256
- State: any state of the United States, the District of Columbia, Puerto Rico, the U. See Missouri Laws 326.256
- substantially equivalent: a determination by the board of accountancy or its designee that the education, examination and experience requirements contained in the statutes and administrative rules of another jurisdiction are comparable to or exceed the education, examination and experience requirements contained in this chapter or that an individual certified public accountant's education, examination and experience qualifications are comparable to or exceed the education, examination and experience requirements contained in this chapter. See Missouri Laws 326.256
- this state: means the state of Missouri. See Missouri Laws 326.256
3. With regard to applicants that do not qualify for reciprocity pursuant to subsection 1 of this section, the board may issue a license to an applicant upon a showing that:
(1) The applicant passed the examination required for issuance of the applicant’s certificate with grades that would have been passing grades at the time in this state;
(2) The applicant had four years of experience outside of this state of the type described in subdivision (6) of subsection 1 of section 326.280 or meets equivalent requirements prescribed by the board by rule, after passing the examination upon which the applicant’s license was based and within the ten years immediately preceding the application; and
(3) If the applicant’s certificate, license or permit was issued more than four years prior to the application for issuance of a license pursuant to this section, the applicant has fulfilled the requirements of continuing professional education that would have been applicable pursuant to subsection 6 of this section.
4. As an alternative to the requirements of subsection 3 of this section, a certified public accountant licensed by another state who establishes a principal place of business in this state shall request the issuance of a license from the board prior to establishing the principal place of business. The board may issue a license to the person who obtains verification from the NASBA National Qualification Appraisal Service that the individual’s qualifications are substantially equivalent to the licensure requirements of sections 326.250 to 326.331.
5. An application pursuant to this section may be made through the NASBA Qualification Appraisal Service.
6. Each licensee shall participate in a program of learning designed to maintain professional competency. The program of learning shall comply with rules adopted by the board. The board may create by rule an exception to such requirement for licensees who do not perform or offer to perform for the public one or more kinds of services involving the use of accounting or auditing skills, including issuance of reports on financial statements or of one or more kinds of management advisory, financial advisory or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. Licensees granted an exception by the board shall place the word “inactive” adjacent to their certified public accountant title on any business card, letterhead or any other document or device, except their certified public accountant certificate, on which their certified public accountant title appears.
7. Applicants for initial issuance or renewal of licenses pursuant to this section shall list all states in which they have applied for or hold certificates, licenses or permits and list any past denial, revocation or suspension or any discipline of a certificate, license or permit. Each holder of or applicant for a license shall notify the board in writing within thirty days after its occurrence of any issuance, denial, revocation or suspension or any discipline of a certificate, license or permit by another state.
8. The board may issue a license to a holder of a substantially equivalent foreign designation, provided that:
(1) The foreign authority which granted the designation makes similar provisions to allow a person who holds a valid license issued by this state to obtain such foreign authority’s comparable designation; and
(2) The foreign designation:
(a) Was duly issued by a foreign authority that regulates the practice of public accounting and the foreign designation has not expired or been revoked or suspended;
(b) Entitles the holder to issue reports upon financial statements; and
(c) Was issued upon the basis of educational, examination and experience requirements established by the foreign authority or by law; and
(3) The applicant:
(a) Received the designation based on educational and examination standards substantially equivalent to those in effect in this state at the time the foreign designation was granted;
(b) Completed an experience requirement substantially equivalent to the requirement set out in subdivision (6) of subsection 1 of section 326.280 in the jurisdiction which granted the foreign designation or has completed four years of professional experience in this state, or meets equivalent requirements prescribed by the board by rule within the ten years immediately preceding the application; and
(c) Passed a uniform qualifying examination in national standards and an examination on the laws, regulations and code of ethical conduct in effect in this state acceptable to the board.
9. An applicant pursuant to subsection 8 of this section shall list all jurisdictions, foreign and domestic, in which the applicant has applied for or holds a designation to practice public accounting. Each holder of a license issued pursuant to this subsection shall notify the board in writing within thirty days after its occurrence of any issuance, denial, revocation, suspension or any discipline of a designation or commencement of a disciplinary or enforcement action by any jurisdiction.
10. The board has the sole authority to interpret the application of the provisions of subsections 8 and 9 of this section.