(a) Only licensees may issue a report on financial statements of any other person, firm, organization or governmental unit or otherwise offer to render or render any attest service. This restriction does not prohibit any act of a public official or public employee in the performance of that person’s duties as such, or prohibit the performance by any person of other services involving the use of accounting skills, including the preparation of tax returns, management advisory services and the preparation of financial statements without the issuance of reports thereon.
Terms Used In Tennessee Code 62-1-113
Attest: means providing the following services:(A) Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS). See Tennessee Code 62-1-103
Certificate: means a certificate as certified public accountant issued under §. See Tennessee Code 62-1-103
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Report: when used with reference to attest services, means an opinion, report or other form of language that states or implies assurance as to the reliability of any financial statements or assertion. See Tennessee Code 62-1-103
State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands and Guam, except that "this state" means the state of Tennessee. See Tennessee Code 62-1-103
(b) Licensees performing attest services must provide those services pursuant to statements on standards relating to those services adopted by reference or directly by the board.(c) No person not holding a valid certificate shall use or assume the title “certified public accountant” or the abbreviation “CPA” or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate that the person is a certified public accountant.(d) No firm shall provide attest services or assume or use the title “certified public accountants” or the abbreviation “CPAs,” or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate that such firm is a CPA firm unless:
(1) The firm holds a valid permit issued under § 62-1-108; and(2) Ownership of the firm is in accord with this chapter and rules promulgated by the board.(e) No person shall assume or use the title “public accountant” or the abbreviation “PA,” or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate that the person is a public accountant unless that person holds a valid registration issued under § 62-1-109.(f) No firm not holding a valid permit issued under § 62-1-108 shall provide attest services or assume or use the title “public accountant” or the abbreviation “PA,” or any other title, designation, words, letters, abbreviation, sign, card or device tending to indicate that the firm is composed of public accountants.(g) No person or firm not holding a valid license under this chapter shall assume or use the title “certified accountant,” “chartered accountant,” “enrolled accountant,” “licensed accountant,” “registered accountant,” “accredited accountant” or any other title or designation likely to be confused with the titles “certified public accountant” or “public accountant,” or use any of the abbreviations “CA,” “LA,” “RA,” “AA,” or similar abbreviation likely to be confused with the abbreviations “CPA” or “PA.” The title “enrolled agent” or “EA” may only be used by individuals so designated by the internal revenue service.(h)(1) Nonlicensees may not use language in any statement relating to the financial affairs of a person or entity that is conventionally used by licensees in reports on financial statements. In this regard, the board shall issue rules providing safe harbor language that nonlicensees may use in connection with the financial information.(2) No person or firm not holding a valid license issued under § 62-1-107, § 62-1-108 or § 62-1-109 shall assume or use any title or designation that includes the words “accountant” or “accounting,” or any other language, including the language of a report, that implies that the person or firm holds such a license or has special competence as an accountant or auditor; provided, that this subsection (h) does not prohibit any officer, partner, member, manager or employee of any firm or organization from affixing that person’s own signature to any statement in reference to the financial affairs of the firm or organization with any wording designating the position, title or office that the person holds in the firm or organization nor prohibit any act of a public official or employee in the performance of the person’s duties as a public official or employee.(i) No person or firm holding a license under this chapter shall use a professional or firm name or designation that is misleading about the legal form of the firm, about the persons who are partners, officers, members, managers or shareholders of the firm or about any other matter; provided, however, that names of one (1) or more former partners, members, managers or shareholders may be included in the name of a firm or its successor.(j) None of the provisions of subsections (a)-(i) shall have any application to a person or firm holding a certification, designation, degree or license granted in a foreign country entitling the holder of a certification, designation, degree or license granted in a foreign country to engage in the practice of accountancy or its equivalent in that country, whose activities in this state are limited to the provision of professional services to persons or firms who are residents of, governments of or business entities of the country in which the person holds such entitlement, who performs no attest services and who issues no reports with respect to the financial statements of any other persons, firms or governmental units in this state and who does not use in this state any title or designation other than the one under which the person practices in such country, followed by a translation of such title or designation into the English language, if it is in a different language, and by the name of such country.(k) No holder of a certificate issued under § 62-1-107 or a registration issued under § 62-1-109 shall perform attest services in any firm that does not hold a valid permit issued under § 62-1-108.(l) Nothing prohibits a licensee from engaging in personal financial planning without further regulatory requirements.(m) No person shall conceal information relative to violations of this chapter.
