The online versions of legislation provided on this website are not official. Enrolled bills are the final version passed by the Ohio General Assembly and presented to the Governor for signature. The official version of acts signed by the Governor are available from the Secretary of State's Office in the Continental Plaza, 180 East Broad St., Columbus.
|
As Reported by House Civil and Commercial Law Committee
122nd General Assembly
Regular Session
1997-1998 | Sub. S. B. No. 200 |
SENATORS CUPP-WATTS-HERINGTON-HOTTINGER-MUMPER-CARNES-
BLESSING-FINAN-SUHADOLNIK-
REPRESENTATIVE S
BUCHY-KASPUTIS-CALLENDER-SALERNO
A BILL
To amend sections 1111.01, 2925.01, 4701.01, 4701.04, 4701.06, 4701.061,
4701.07, 4701.10, 4701.11, 4701.12, 4701.13, 4701.14, 4701.16, and 4701.19 and
to enact
section 4701.29
of the Revised Code to permit
certain persons who do not hold a certificate or registration to practice as
a certified public accountant or public accountant to
acquire an ownership interest in public accounting firms, to
add a statutory definition of the "practice of public accounting" and modify
or add other definitions in the
Accountancy Board Law, to expand the
discipline that may be imposed for infractions of that law, and to make other
related changes in that law.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 1111.01, 2925.01, 4701.01, 4701.04, 4701.06,
4701.061,
4701.07, 4701.10, 4701.11, 4701.12, 4701.13, 4701.14, 4701.16, and 4701.19 be
amended
and section
4701.29 of the Revised Code be
enacted to read as follows:
Sec. 1111.01. As used in this chapter:
(A) "Charitable trust" means a charitable remainder annuity trust as defined
in section 664(d) of the Internal Revenue Code, a charitable remainder
unitrust as defined in section 664(d) of the Internal
Revenue Code, a charitable lead or other split interest trust subject to the
governing instrument requirements of section 508(e) of the Internal Revenue
Code, a pooled income fund as defined in section 642(c) of the Internal
Revenue Code, a trust that is a private foundation as defined in section 509
of the Internal Revenue Code, or a trust of which each beneficiary is a
charity.
For purposes of this division and division (B) of this section,
"Internal Revenue Code" means the "Internal Revenue Code of 1986," 100 Stat.
2085, 26 U.S.C.A. 1, as amended.
(B) "Charity" means a state university as defined in section
3345.011 of the Revised Code, a community college
as defined in section 3354.01 of the Revised Code, a technical college as
defined in section 3357.01 of the Revised Code, a state community college as
defined in section 3358.01 of the Revised Code, a
private college or university that possesses a certificate of authorization
issued by the Ohio board of regents pursuant to Chapter
1713. of the Revised Code, a trust or organization
exempt from taxation under section 501(c)(3) or
section 501(c)(13) of the Internal Revenue
Code, or a corporation, trust, or organization described in
section 170(c)(2) of the Internal Revenue Code. The
term "charities" means more than one trust or organization that is a charity.
(C) "Collective investment fund" means a fund established by a
trust company or an affiliate of a trust company for the collective investment
of assets held in a fiduciary capacity, either alone or with one or more
cofiduciaries, by the establishing trust company and its affiliates.
(D) "Fiduciary investment company" means a corporation
that is both of the following:
(1) An investment company;
(2) Incorporated, owned, and operated in accordance with rules adopted by
the superintendent of financial institutions for the investment of funds held
by trust companies in a fiduciary capacity and for true fiduciary purposes,
either alone or with one or more cofiduciaries.
(E) "Instrument" includes any will, declaration of trust,
agreement of trust, agency, or custodianship, or court order creating a
fiduciary relationship.
(F) "Investment company" means any investment company as defined
in section 3 and registered under section 8 of the "Investment
Company Act of 1940," 54 Stat. 789, 15 U.S.C.A.
80a-3 and 80a-8.
(G) "Trust business" means accepting and executing trusts of
property, serving as a trustee, executor, administrator, guardian, receiver,
or conservator, and providing fiduciary services as a
business. "Trust business" does not include any of the following:
(1) Any natural person acting as a trustee, executor,
administrator, guardian, receiver, or conservator,
pursuant to appointment by a court of competent jurisdiction;
(2) Any natural person serving as a trustee
who does not hold self out to the public as willing to act as a trustee for
hire. For purposes of division
(G) of this section, the solicitation or advertisement of legal or
accounting services by a person licensed in this state as an attorney or a
person holding a live AN OHIO permit to practice public
accounting issued under
division (A) of section 4701.10 of the Revised Code shall not be considered to
be the act of holding self out to the public as willing to act as a trustee
for hire.
(3) A charity, an officer or employee of a
charity, or a person affiliated with a charity, serving as trustee
of a charitable trust of which the charity, or another charity with a
similar purpose, is a beneficiary;
(4) Other fiduciary activities the superintendent
determines are not undertaken as a business.
Sec. 2925.01. As used in this chapter:
(A) "Administer," "controlled substance," "dispense,"
"distribute," "hypodermic,"
"manufacturer," "official written order," "person,"
"pharmacist," "pharmacy," "sale,"
"schedule I," "schedule II," "schedule III," "schedule IV,"
"schedule V," and "wholesaler" have the same meanings as in
section 3719.01 of the Revised Code.
(B) "Drug dependent person" and "drug of abuse" have the
same meanings as in section 3719.011 of the Revised Code.
(C) "Drug," "dangerous drug," "licensed health professional authorized to
prescribe
drugs," and "prescription" have the same meanings as in section
4729.01 of the Revised Code.
(D) "Bulk amount" of a controlled substance means any of
the following:
(1) For any compound, mixture, preparation, or substance
included in schedule I, schedule II, or schedule III,
with the exception of marihuana, cocaine, L.S.D., heroin, and hashish and
except as provided in division (D)(2) or (5) of this
section, whichever of the following is applicable:
(a) An amount equal to or exceeding ten grams or
twenty-five unit doses of a compound, mixture, preparation, or
substance that is or contains any amount of a schedule I opiate
or opium derivative;
(b) An amount equal to or exceeding ten grams
of a
compound, mixture, preparation, or substance that is or contains
any amount of raw or gum opium;
(c) An amount equal to or exceeding thirty
grams or ten
unit doses of a compound, mixture, preparation, or substance that
is or contains any amount of a schedule I hallucinogen other than
tetrahydrocannabinol or
lysergic acid
amide, or a schedule I stimulant or
depressant;
(d) An amount equal to or exceeding twenty
grams or five
times the maximum daily dose in the usual dose range specified in
a standard pharmaceutical reference manual of a compound,
mixture, preparation, or substance that is or contains any amount
of a schedule II opiate or opium derivative;
(e) An amount equal to or exceeding five grams or ten unit
doses of a compound, mixture, preparation, or substance that is
or contains any amount of phencyclidine;
(f) An amount equal to or exceeding one hundred twenty
grams or thirty times the maximum daily dose in the usual dose
range specified in a standard pharmaceutical reference manual of
a compound, mixture, preparation, or substance that is or
contains any amount of a schedule II stimulant that is in a final
dosage form manufactured by a person authorized by the "Federal
Food, Drug, and Cosmetic Act," 52 Stat. 1040 (1938), 21
U.S.C.A. 301, as amended, and the federal drug abuse control
laws, as defined in section 3719.01 of the Revised Code, that is or contains
any amount of a schedule II depressant
substance or a schedule II hallucinogenic substance;
(g) An amount equal to or exceeding three
grams of a
compound, mixture, preparation, or substance that is or contains
any amount of a schedule II stimulant, or any of its salts or
isomers, that is not in a final dosage form manufactured by a
person authorized by the Federal Food, Drug, and Cosmetic Act and
the federal drug abuse control laws.
(2) An amount equal to or exceeding one
hundred twenty
grams or thirty times the maximum daily dose in the usual dose
range specified
in a standard pharmaceutical reference manual of a compound,
mixture,
preparation, or substance that is or contains any amount of a
schedule
III or IV substance other than an anabolic
steroid or a schedule III opiate or opium derivative;
(3) An amount equal to or exceeding twenty grams or five times the maximum
daily dose in the usual dose range specified in a standard pharmaceutical
reference manual of a compound, mixture,
preparation, or substance that is
or contains any amount of a schedule III opiate or opium derivative;
(4) An amount equal to or exceeding two hundred fifty
milliliters or two hundred fifty grams of a compound, mixture,
preparation, or substance that is or contains any amount of a
schedule V substance;
(5) An amount equal to or exceeding two
hundred solid
dosage units, sixteen grams, or sixteen milliliters of a
compound, mixture, preparation, or substance that is or contains
any amount of a schedule III anabolic steroid.
(E) "Unit dose" means an amount or unit of a compound,
mixture, or preparation containing a controlled substance that is
separately identifiable and in a form that
indicates that it is the amount or unit by which
the controlled substance is separately administered to or taken by an
individual.
(F) "Cultivate" includes planting, watering, fertilizing,
or tilling.
(G) "Drug abuse offense" means any of the following:
(1) A violation of division (A) of section 2913.02 that
constitutes theft of drugs, or a violation of section 2925.02,
2925.03, 2925.04, 2925.05, 2925.06, 2925.11, 2925.12, 2925.13,
2925.22, 2925.23, 2925.31,
2925.32, 2925.36, or 2925.37 of the Revised Code;
(2) A violation of an existing or former law of this or
any other state or of the United States that is substantially
equivalent to any section listed in division (G)(1) of this
section;
(3) An offense under an existing or former law of this or
any other state, or of the United States, of which planting,
cultivating, harvesting, processing, making, manufacturing,
producing, shipping, transporting, delivering, acquiring,
possessing, storing, distributing, dispensing, selling, inducing
another to use, administering to another, using, or otherwise
dealing with a controlled substance is an element;
(4) A conspiracy to commit, attempt to commit, or complicity in
committing or attempting to commit any offense under division
(G)(1), (2), or (3) of this section.
(H) "Felony drug abuse offense" means any drug abuse
offense that would constitute a felony under the laws of this
state, any other state, or the United States.
(I) "Harmful intoxicant" does not include beer or
intoxicating liquor but means any compound, mixture,
preparation, or substance the gas, fumes, or vapor of which when
inhaled can induce intoxication, excitement, giddiness,
irrational behavior, depression, stupefaction, paralysis,
unconsciousness, asphyxiation, or other harmful physiological
effects, and includes, but is not limited to, any of the
following:
(1) Any volatile organic solvent, plastic cement, model
cement, fingernail polish remover, lacquer thinner, cleaning
fluid, gasoline, or other preparation containing a volatile
organic solvent;
(2) Any aerosol propellant;
(3) Any fluorocarbon refrigerant;
(4) Any anesthetic gas.
(J) "Manufacture" means to plant, cultivate, harvest,
process, make, prepare, or otherwise engage in any part of the
production of a drug, by propagation, extraction, chemical
synthesis, or compounding, or any combination of the same, and
includes packaging, repackaging, labeling, and other activities
incident to production.
(K) "Possess" or "possession" means having control over a
thing or substance, but may not be inferred solely from mere
access to the thing or substance through ownership or occupation
of the premises upon which the thing or substance is found.
(L) "Sample drug" means a drug or pharmaceutical
preparation that would be hazardous to health or safety if used
without the supervision of a licensed health
professional authorized to prescribe drugs, or a drug of abuse,
and that, at one time, had been placed in a container plainly
marked as a sample by a manufacturer.
(M) "Standard pharmaceutical reference manual" means the
current edition, with cumulative changes if any, of any of the
following reference works:
(1) "The National Formulary";
(2) "The United States Pharmacopeia," prepared by
authority of the United States Pharmacopeial Convention, Inc.;
(3) Other standard references that are approved by the
state board of pharmacy.
(N) "Juvenile" means a person under eighteen years of age.
(O) "Counterfeit controlled substance" means any of the
following:
(1) Any drug that bears, or whose container or label
bears, a trademark, trade name, or other identifying mark used
without authorization of the owner of rights to that trademark,
trade name, or identifying mark;
(2) Any unmarked or unlabeled substance that is
represented to be a controlled substance manufactured, processed,
packed, or distributed by a person other than the person that
manufactured, processed, packed, or distributed it;
(3) Any substance that is represented to be a controlled
substance but is not a controlled substance or is a different
controlled substance;
(4) Any substance other than a controlled substance that a
reasonable person would believe to be a controlled substance
because of its similarity in shape, size, and color, or its
markings, labeling, packaging, distribution, or the price for
which it is sold or offered for sale.
(P) An offense is "committed in the vicinity of a school" if the
offender commits the offense on school premises, in a school building, or
within one thousand feet of the boundaries of any school premises.
(Q) "School" means any school operated by a board of
education or any school for which the state board of education
prescribes minimum standards under section 3301.07 of the Revised
Code, whether or not any instruction, extracurricular activities,
or training provided by the school is being conducted at the time
a criminal offense is committed.
(R) "School premises" means either of the following:
(1) The parcel of real property on which any school is
situated, whether or not any instruction, extracurricular
activities, or training provided by the school is being conducted
on the premises at the time a criminal offense is committed;
(2) Any other parcel of real property that is owned or
leased by a board of education of a school or the governing body
of a school for which the state board of education prescribes
minimum standards under section 3301.07 of the Revised Code and
on which some of the instruction, extracurricular activities, or
training of the school is conducted, whether or not any
instruction, extracurricular activities, or training provided by
the school is being conducted on the parcel of real property at
the time a criminal offense is committed.
(S) "School building" means any building in which any of
the instruction, extracurricular activities, or training provided
by a school is conducted, whether or not any instruction,
extracurricular activities, or training provided by the school is
being conducted in the school building at the time a criminal
offense is committed.
(T) "Disciplinary counsel" means the disciplinary counsel
appointed by the board of commissioners on grievances and
discipline of the supreme court under the Rules for the
Government of the Bar of Ohio.
(U) "Certified grievance committee" means a duly
constituted and organized committee of the Ohio state bar
association or of one or more local bar associations of the state
of Ohio that complies with the criteria set forth in Rule V,
section 6 of the Rules for the Government of the Bar of Ohio.
(V) "Professional license" means any license, permit,
certificate, registration, qualification, admission, temporary
license, temporary permit, temporary certificate, or temporary
registration that is described in divisions (W)(1) to (35) of
this section and that qualifies a person as a professionally
licensed person.
(W) "Professionally licensed person" means any of the
following:
(1) A person who has obtained a license as a manufacturer
of controlled substances or a wholesaler of controlled substances
under Chapter 3719. of the Revised Code;
(2) A person who has received a certificate or temporary
certificate as a certified public accountant or who has
registered as a public accountant under Chapter 4701. of the
Revised Code and who holds a live AN OHIO permit issued
under that
chapter;
(3) A person who holds a certificate of qualification to
practice architecture issued or renewed and registered under
Chapter 4703. of the Revised Code;
(4) A person who is registered as a landscape architect
under Chapter 4703. of the Revised Code or who holds a permit as
a landscape architect issued under that chapter;
(5) A person licensed as an auctioneer or apprentice
auctioneer or licensed to operate an auction company under
Chapter 4707. of the Revised Code;
(6) A person who has been issued a certificate of
registration as a registered barber under Chapter 4709. of the
Revised Code;
(7) A person licensed and regulated to engage in the
business of a debt pooling company by a legislative authority,
under authority of Chapter 4710. of the Revised Code;
(8) A person who has been issued a cosmetologist's
license, manicurist's license, esthetician's license, managing
cosmetologist's license, managing manicurist's license, managing
esthetician's license, cosmetology instructor's license,
manicurist instructor's license, esthetician instructor's
license, or tanning facility permit under Chapter 4713. of the
Revised Code;
(9) A person who has been issued a license to practice
dentistry, a general anesthesia permit, a conscious intravenous
sedation permit, a limited resident's license, a limited teaching
license, a dental hygienist's license, or a dental hygienist's
teacher's certificate under Chapter 4715. of the Revised Code;
(10) A person who has been issued an embalmer's license, a
funeral director's license, a funeral home license, or a crematory license, or
who has been registered for an embalmer's or funeral director's apprenticeship
under Chapter 4717. of the Revised Code;
(11) A person who has been licensed as a registered nurse
or practical nurse, or who has been issued a certificate for the
practice of nurse-midwifery under Chapter 4723. of the Revised
Code;
(12) A person who has been licensed to practice optometry
or to engage in optical dispensing under Chapter 4725. of the
Revised Code;
(13) A person licensed to act as a pawnbroker under
Chapter 4727. of the Revised Code;
(14) A person licensed to act as a precious metals dealer
under Chapter 4728. of the Revised Code;
(15) A person licensed as a pharmacist, a pharmacy
intern, a wholesale distributor of dangerous drugs, or a terminal
distributor of dangerous drugs under Chapter 4729. of the Revised
Code;
(16) A person who is authorized to practice as a physician assistant under
Chapter 4730. of the Revised Code;
(17) A person who has been issued a certificate to
practice medicine and surgery, osteopathic medicine and surgery,
a limited branch of medicine or surgery, or podiatry under
Chapter 4731. of the Revised Code;
(18) A person licensed as a psychologist or school
psychologist under Chapter 4732. of the Revised Code;
(19) A person registered to practice the profession of
engineering or surveying under Chapter 4733. of the Revised Code;
(20) A person who has been issued a license to
practice chiropractic under Chapter 4734. of the Revised Code;
(21) A person licensed to act as a real estate broker,
real estate salesperson, limited real estate broker, or limited real
estate salesperson under Chapter 4735. of the Revised Code;
(22) A person registered as a registered sanitarian under
Chapter 4736. of the Revised Code;
(23) A person licensed to operate or maintain a junkyard
under Chapter 4737. of the Revised Code;
(24) A person who has been issued a motor vehicle salvage
dealer's license under Chapter 4738. of the Revised Code;
(25) A person who has been licensed to act as a steam
engineer under Chapter 4739. of the Revised Code;
(26) A person who has been issued a license or temporary
permit to practice veterinary medicine or any of its branches, or
who is registered as a graduate animal technician under Chapter
4741. of the Revised Code;
(27) A person who has been issued a hearing aid dealer's
or fitter's license or trainee permit under Chapter 4747. of the
Revised Code;
(28) A person who has been issued a class A, class B, or
class C license or who has been registered as an investigator or
security guard employee under Chapter 4749. of the Revised Code;
(29) A person licensed and registered to practice as a
nursing home administrator under Chapter 4751. of the Revised
Code;
(30) A person licensed to practice as a speech-language
pathologist
or audiologist under Chapter 4753. of the Revised Code;
(31) A person issued a license as an occupational
therapist or physical therapist under Chapter 4755. of the
Revised Code;
(32) A person who is licensed as a professional clinical counselor or
professional counselor, licensed as a social worker or independent social
worker, or registered as a social work
assistant under Chapter 4757. of the Revised Code;
(33) A person issued a license to practice dietetics under
Chapter 4759. of the Revised Code;
(34) A person who has been issued a license or
limited permit to practice respiratory therapy under Chapter 4761. of
the
Revised Code;
(35) A person who has been issued a real estate appraiser
certificate under Chapter 4763. of the Revised Code.
(X) "Cocaine" means any of the following:
(1) A cocaine salt, isomer, or derivative, a salt of a
cocaine isomer or derivative, or the base form of cocaine;
(2) Coca leaves or a salt, compound, derivative, or
preparation of coca leaves, including ecgonine, a salt, isomer,
or derivative of ecgonine, or a salt of an isomer or derivative
of ecgonine;
(3) A salt, compound, derivative, or preparation of a
substance identified in division
(X)(1) or (2) of this section
that is chemically equivalent to or identical with any of those
substances, except that the substances shall not include
decocainized coca leaves or extraction of coca leaves if the
extractions do not contain cocaine or ecgonine.
(Y) "L.S.D." means
lysergic acid diethylamide.
(Z) "Hashish" means the resin or a preparation of the resin
contained in marihuana, whether in solid form or in a liquid concentrate,
liquid extract, or liquid distillate form.
(AA) "Marihuana" has the same meaning as in section
3719.01 of the Revised Code,
except that it does not include hashish.
(BB) An offense is "committed in the vicinity of a
juvenile" if
the offender commits the offense within one hundred feet of a juvenile or
within the view of a juvenile, regardless of whether the
offender knows the age of the juvenile, whether the offender knows the offense
is being committed within one hundred feet of or within view of the juvenile,
or whether the juvenile actually views the commission of the offense.
(CC) "Presumption for a prison term" or "presumption that a
prison term shall be imposed" means a presumption, as described in division
(D) of section 2929.13 of the Revised Code, that a prison term is a necessary
sanction for a felony in order to comply with the purposes and principles of
sentencing under section 2929.11 of the Revised Code.
(DD) "Major drug offender" has the same meaning as in section
2929.01 of the Revised Code.
(EE) "Minor drug possession offense" means either of the
following:
(1) A violation of section 2925.11 of the Revised Code as
it existed prior to July 1, 1996;
(2) A violation of section 2925.11 of the Revised Code as it exists on and
after July 1, 1996, that is a misdemeanor or a felony of the fifth
degree.
(FF) "Mandatory prison term" has the same meaning as
in section 2929.01 of the Revised Code.
(GG) "Crack cocaine" means a compound, mixture, preparation, or
substance that is or contains any amount of cocaine that is analytically
identified as the base form of cocaine or that is in a form that resembles
rocks or pebbles generally intended for individual use.
Sec. 4701.01. As used in this chapter:
(A) "Live permit" means a permit issued under section
4701.10 of the Revised Code that is not suspended or revoked
PRACTICE OF PUBLIC ACCOUNTING" MEANS PERFORMING OR
OFFERING TO PERFORM ANY ENGAGEMENT THAT WILL RESULT IN THE
ISSUANCE OF AN ATTEST REPORT AND, WITH RESPECT TO A PERSON WHO
HOLDS A CPA CERTIFICATE,
PA REGISTRATION, FOREIGN
CERTIFICATE, OR FIRM REGISTRATION, ANY OTHER SERVICES INVOLVING
THE USE OF ACCOUNTING OR AUDITING SKILLS AS ESTABLISHED BY RULES
ADOPTED BY THE ACCOUNTANCY BOARD.
(B) "Public accounting firm" means a sole proprietorship, a
partnership, a limited liability company, a professional association, a
corporation-for-profit, or any other legal entity BUSINESS
ORGANIZATION that is permitted by
the accountancy board
to engage ENGAGED in the practice of public accounting in this
state.
(C) "Opinion on a financial statement REPORT" means any opinion
ON A FINANCIAL STATEMENT THAT IS expressed in accordance with generally
accepted auditing
standards as to the fairness of presentation of information AND THAT IS
used
for guidance in financial transactions or, for
accounting, or for
assessing the status or performance of commercial and
noncommercial enterprises, whether public, private, or
governmental.
(D) "Quality PEER review" means a study, appraisal, or review
of one or more aspects of the professional work of a public
accounting firm that meets the standards and requirements set
forth by the accountancy board.
(E) "Review report on a financial statement" means either
of the following:
(1) Any review report ON A FINANCIAL STATEMENT THAT IS issued with
respect to any of the
following:
(a) Interim financial information in accordance with
generally accepted auditing standards;
(b) The financial information of a nonpublic entity in
accordance with statements on standards for accounting and review
services;
(c) The reliability of another party's written assertion
in accordance with statements on standards for attestation
engagements.
(2) Any other review report ON A FINANCIAL STATEMENT THAT IS NOT DESCRIBED
IN DIVISION (E)(1) OF THIS SECTION AND THAT IS issued in
accordance with
standards promulgated by the American institute of certified
public accountants.
(F) "Compilation report on a financial statement" means
any compilation report ON A FINANCIAL STATEMENT THAT IS issued with
respect to financial
information of a nonpublic entity in accordance with statements
on standards for accounting and review services as promulgated by
the American institute of certified public accountants.
(G) "Examination report on a financial statement" means
any examination report ON A FINANCIAL STATEMENT THAT IS issued with
respect to another party's
written assertion in accordance with statements on standards for
attestation engagements as promulgated by the American institute
of certified public accountants.
(H) "Agreed-upon procedures report on a financial
statement" means any report THAT IS ON A FINANCIAL STATEMENT AND THAT
IS based on agreed-upon procedures
issued with respect to another party's written assertion in
accordance with statements on standards for attestation
engagements as promulgated by the American institute of certified
public accountants.
(I) "QUALIFIED FIRM" MEANS A
SOLE PROPRIETORSHIP, PARTNERSHIP, PROFESSIONAL ASSOCIATION,
CORPORATION-FOR-PROFIT,
LIMITED LIABILITY COMPANY, OR OTHER BUSINESS ORGANIZATION IN
WHICH THE INDIVIDUALS WHO OWN A MAJORITY OF THE BUSINESS ORGANIZATION
INTERESTS
IN THE BUSINESS ORGANIZATION AND CONTROL THE BUSINESS ORGANIZATION HOLD AN
OHIO PERMIT OR A FOREIGN
CERTIFICATE.
(J) "OWN" MEANS ANY
DIRECT OR INDIRECT OWNERSHIP OF AN EQUITY INTEREST IN A PUBLIC
ACCOUNTING FIRM OR QUALIFIED FIRM.
(K) "CONTROL" OR
"CONTROLLED" MEANS THE RIGHT TO EXERCISE THE MAJORITY OF THE
VOTING EQUITY INTERESTS IN A PUBLIC ACCOUNTING FIRM OR QUALIFIED FIRM WITH
RESPECT
TO ANY MATTER.
(L) "EQUITY INTEREST"
MEANS ANY CAPITAL INTEREST OR PROFIT INTEREST IN A SOLE PROPRIETORSHIP,
PARTNERSHIP,
PROFESSIONAL ASSOCIATION, CORPORATION-FOR-PROFIT, LIMITED
LIABILITY COMPANY, OR OTHER BUSINESS ORGANIZATION.
(M) "OHIO PERMIT" MEANS A PERMIT TO
PRACTICE PUBLIC ACCOUNTING ISSUED UNDER DIVISION
(A) OF SECTION 4701.10 OF THE
REVISED CODE THAT IS NOT REVOKED
OR SUSPENDED.
(N) "OHIO REGISTRATION" MEANS
THE REGISTRATION UNDER DIVISION (B) OF SECTION 4701.10 of the Revised Code OF A
HOLDER OF A
CPA CERTIFICATE OR
PA REGISTRATION WHO IS NOT IN
THE PRACTICE OF PUBLIC ACCOUNTING IN THIS STATE.
(O) "FIRM REGISTRATION" OR "REGISTERED FIRM"
MEANS REGISTRATION AS A PUBLIC ACCOUNTING FIRM UNDER SECTION
4701.04 OF THE REVISED CODE.
(P) "PA REGISTRATION" MEANS
REGISTRATION AS A PUBLIC ACCOUNTANT UNDER SECTION 4701.07 OF THE
REVISED CODE THAT IS NOT REVOKED
OR SUSPENDED.
(Q) "CPA CERTIFICATE" MEANS A
CERTIFICATE ISSUED UNDER SECTION 4701.06 OR 4701.061 OF THE
REVISED CODE THAT IS NOT REVOKED
OR SUSPENDED.
(R) "FOREIGN
CERTIFICATE" MEANS A CERTIFICATE OF A CERTIFIED PUBLIC ACCOUNTANT
ISSUED UNDER THE LAWS OF ANOTHER STATE.
(S) "ATTEST REPORT"
MEANS AN OPINION REPORT, REVIEW REPORT, COMPILATION REPORT,
EXAMINATION REPORT, AGREED-UPON PROCEDURES REPORT, OR ANY
SIMILAR REPORT PREPARED IN ACCORDANCE WITH STANDARDS ESTABLISHED BY THE
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS WITH RESPECT TO A
FINANCIAL STATEMENT OR OTHER
FINANCIAL INFORMATION.
(T) "PERSON" MEANS ANY
INDIVIDUAL, CORPORATION-FOR-PROFIT, BUSINESS TRUST, ESTATE, PARTNERSHIP,
LIMITED LIABILITY COMPANY, PROFESSIONAL ASSOCIATION, OR
OTHER BUSINESS ORGANIZATION.
(U) Technical terms that define specific public accounting
engagements have the same meanings as in the professional
standards promulgated by the American institute of certified
public accountants.
(V)(1) "GOOD MORAL CHARACTER" MEANS THE COMBINATION OF
PERSONAL TRAITS OF HONESTY, INTEGRITY, ATTENTION TO DUTY,
FORTHRIGHTNESS, AND SELF-RESTRAINT THAT ENABLES A PERSON TO
DISCHARGE THE DUTIES OF THE ACCOUNTING PROFESSION FULLY AND
FAITHFULLY.
(2) A HISTORY OF DISHONEST ACTS OR FELONIOUS ACTS OR CONVICTIONS IS
SUFFICIENT TO PROVE LACK OF GOOD MORAL CHARACTER IF THAT
HISTORY DEMONSTRATES BY A PREPONDERANCE OF THE EVIDENCE THAT THE
PERSON LACKS ONE OR MORE OF THE PERSONAL TRAITS REFERRED TO IN DIVISION
(V)(1) OF THIS SECTION. A PERSON WHO HAS
A FELONY CONVICTION RELATED TO ONE OR MORE OF THOSE PERSONAL TRAITS
BEARS THE BURDEN OF ESTABLISHING THE PERSON'S PRESENT GOOD MORAL
CHARACTER, INCLUDING THE PERSON'S FULL AND COMPLETE
REHABILITATION SUBSEQUENT TO THE CONVICTION. IF LESS THAN ONE YEAR HAS
PASSED SINCE THE COMPLETION OF
THE PERSON'S SENTENCE ON A FELONY CONVICTION, INCLUDING ANY
PERIOD UNDER A COMMUNITY CONTROL SANCTION OR POST-RELEASE CONTROL, THE BOARD
MAY DELAY ANY DETERMINATION OF THE
PERSON'S GOOD MORAL CHARACTER UNTIL ONE YEAR HAS PASSED FROM THE
TIME OF THE COMPLETION OF THAT SENTENCE.
(3) IN DETERMINING WHETHER A PERSON WHO HAS A FELONY CONVICTION HAS MET THE
PERSON'S BURDEN
OF PROOF DESCRIBED IN DIVISION (V)(2) OF THIS SECTION, THE
ACCOUNTANCY
BOARD MAY CONSIDER THE FOLLOWING FACTORS:
(a) THE PERSON'S PATH TOWARD PROFESSIONAL LICENSING
FOLLOWING COMPLETION OF THE PERSON'S SENTENCE;
(b) THE NATURE AND DEGREE OF THE PERSON'S ACADEMIC
ACHIEVEMENTS;
(c) THE NATURE AND DEGREE OF THE PERSON'S EMPLOYMENT
FOLLOWING COMPLETION OF THE PERSON'S SENTENCE;
(d) THE PERSON'S DEGREE OF SELF-SUFFICIENCY FOLLOWING
COMPLETION OF THE PERSON'S SENTENCE;
(e) THE NATURE AND DEGREE OF THE PERSON'S OTHER
RESPONSIBILITIES FOLLOWING COMPLETION OF THE PERSON'S SENTENCE;
(f) THE PERSON'S CONVICTION FOR ANY OTHER CRIMINAL
OFFENSE SINCE COMPLETION OF THE PERSON'S SENTENCE FOR THE
PERSON'S FIRST FELONY CONVICTION;
(g) WHETHER THE PERSON'S APPLICATION OR PRESENTATION
CONTAINS ANY INCONSISTENCIES OR MISLEADING EXPLANATIONS THAT
CONVINCE THE BOARD THAT EITHER THE PERSON OR THE PERSON'S
ATTORNEY IS TRYING TO KEEP THE BOARD FROM ACQUIRING A TRUE,
THOUGH DAMAGING, REPRESENTATION OF THE PERSON'S CHARACTER;
(h) THE NATURE AND CIRCUMSTANCES OF THE DISHONEST ACTS OR
FELONIOUS ACTS OR CONVICTIONS OF THE PERSON;
(i) ANY OTHER SPECIFICALLY IDENTIFIABLE INFORMATION THAT THE
BOARD DETERMINES TO BE RELEVANT TO THE PERSON'S ABILITY TO
DISCHARGE THE DUTIES OF THE ACCOUNTING PROFESSION FULLY AND
FAITHFULLY.
Sec. 4701.04. (A) No public accounting firm shall
ENGAGE IN THE practice under the firm's name OF PUBLIC
ACCOUNTING in this state unless it registers
with the accountancy board and pays a registration fee set by the
board.
(B) New public PUBLIC accounting firms shall apply for initial
registration within ninety days of AFTER formation OR WITHIN
NINETY DAYS AFTER THE COMMENCEMENT OF PRACTICING PUBLIC ACCOUNTING IN THIS
STATE. All public
accounting firms shall renew their registration triennially. All
public accounting firms shall submit with their initial and
renewal registration applications a ALL OF THE FOLLOWING:
(1) A list of the names, addresses,
and certificate OR REGISTRATION numbers of all license holders
INDIVIDUALS WHO HOLD
AN OHIO PERMIT AND WHO OWN AN EQUITY INTEREST IN THE PUBLIC
ACCOUNTING FIRM OR ARE employed by them THE PUBLIC
ACCOUNTING FIRM;
(2) A LIST OF THE NAMES AND ADDRESSES OF EACH PERSON WHO DOES NOT
HOLD AN OHIO PERMIT OR A FOREIGN CERTIFICATE AND WHO OWNS AN EQUITY
INTEREST
IN
THE PUBLIC ACCOUNTING FIRM IF THE
PERSON'S PRINCIPAL PLACE OF BUSINESS IS LOCATED
IN THIS STATE;
(3) A STATEMENT THAT THE PUBLIC ACCOUNTING FIRM AND EACH PERSON
WHO OWNS AN EQUITY INTEREST IN THE PUBLIC ACCOUNTING FIRM OR IS EMPLOYED BY
THE PUBLIC ACCOUNTING FIRM AND WHO DOES NOT HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE
IS IN COMPLIANCE WITH DIVISIONS
(C) AND
(D) OF THIS SECTION.
(C) A PUBLIC ACCOUNTING
FIRM SHALL SATISFY ALL OF THE FOLLOWING REQUIREMENTS IN ORDER TO
REGISTER:
(1) EXCEPT AS PROVIDED IN DIVISION
(C)(5) OF THIS SECTION, EACH
PARTNER, SHAREHOLDER, MEMBER, OR OTHER PERSON WHO OWNS AN EQUITY
INTEREST IN THE PUBLIC ACCOUNTING FIRM SHALL HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE.
(2) THE CHIEF EXECUTIVE OF ANY OFFICE OF A PUBLIC ACCOUNTING FIRM
LOCATED IN OR DOING BUSINESS IN THIS STATE SHALL HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE.
(3) EACH INDIVIDUAL IN A PUBLIC ACCOUNTING FIRM
WHO SIGNS ANY ATTEST REPORT ISSUED FROM AN OFFICE OF THE PUBLIC ACCOUNTING
FIRM LOCATED
IN THIS STATE SHALL HOLD
AN OHIO PERMIT.
(4) AN INDIVIDUAL WHO OWNS AN EQUITY INTEREST IN THE PUBLIC ACCOUNTING
FIRM OR IS EMPLOYED BY THE PUBLIC ACCOUNTING FIRM AND WHO
HOLDS AN OHIO PERMIT OR A FOREIGN CERTIFICATE,
OR A QUALIFIED FIRM THAT OWNS AN EQUITY INTEREST IN THE PUBLIC ACCOUNTING
FIRM,
SHALL ASSUME ULTIMATE RESPONSIBILITY FOR ANY ATTEST REPORT ISSUED FROM AN
OFFICE OF
THE PUBLIC ACCOUNTING FIRM LOCATED IN THIS STATE.
(5) ANY PERSON WHO DOES NOT HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE AND WHO HOLDS AN EQUITY
INTEREST
IN
THE PUBLIC ACCOUNTING FIRM SHALL SATISFY THE CONDITIONS SET FORTH IN DIVISION
(D) OF THIS SECTION.
(6) THE PUBLIC ACCOUNTING FIRM SHALL PROVIDE FOR THE TRANSFER OF THE
EQUITY INTEREST OWNED BY PERSONS WHO DO NOT HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE TO EITHER THE PUBLIC
ACCOUNTING
FIRM OR TO ANOTHER
PERSON WHO OWNS AN EQUITY INTEREST IN THE FIRM IF A PERSON
WHO DOES NOT HOLD
AN OHIO PERMIT OR A FOREIGN CERTIFICATE
WITHDRAWS FROM OR CEASES TO BE EMPLOYED BY THE PUBLIC ACCOUNTING FIRM. THE
PUBLIC ACCOUNTING FIRM
MAY MAKE PAYMENTS IN
CONNECTION WITH THE PERSON'S WITHDRAWAL FROM THE FIRM TO
THAT PERSON OR, IF THAT PERSON IS
DECEASED OR DISSOLVED, TO THE PERSON'S ESTATE OR SUCCESSOR IN INTEREST.
(D) A PERSON WHO DOES NOT HOLD AN OHIO PERMIT OR A
FOREIGN CERTIFICATE
MAY OWN AN EQUITY INTEREST IN A PUBLIC ACCOUNTING FIRM
IF ALL OF
THE FOLLOWING CONDITIONS ARE MET:
(1) ALL OF THE INDIVIDUALS WHO HOLD AN OHIO PERMIT OR A FOREIGN
CERTIFICATE AND WHO OWN EQUITY INTERESTS IN THE PUBLIC ACCOUNTING FIRM, AND
QUALIFIED FIRMS THAT OWN EQUITY INTERESTS IN THE PUBLIC ACCOUNTING FIRM, OWN,
IN THE AGGREGATE, A MAJORITY OF THE EQUITY INTERESTS IN THE PUBLIC ACCOUNTING
FIRM AND CONTROL THE PUBLIC ACCOUNTING FIRM.
(2) THE PERSON DOES NOT
ASSUME OR USE ANY TITLES OR DESIGNATIONS SPECIFIED IN DIVISION (A) OF
SECTION 4701.14 of the Revised Code. THE
PERSON MAY DESIGNATE OR REFER TO THE PERSON AS
A SHAREHOLDER, PARTNER, MEMBER, PRINCIPAL, OWNER, OR OFFICER OF THE PUBLIC
ACCOUNTING FIRM
AND ALSO MAY USE ANY OTHER TITLE THAT THE BOARD AUTHORIZES BY RULE.
(3) THE PERSON IS NOT IN VIOLATION OF ANY
STANDARD REGARDING THE CHARACTER OR CONDUCT OF
THAT PERSON THAT THE BOARD ESTABLISHES BY RULE.
(4) THE PERSON'S PARTICIPATION IN THE BUSINESS
OF THE PUBLIC ACCOUNTING FIRM IS THE PERSON'S PRINCIPAL OCCUPATION AND
CONSISTS OF PROVIDING SERVICES TO OR ON BEHALF OF THE PUBLIC ACCOUNTING FIRM,
AND
THE PERSON IS NOT FUNCTIONING SOLELY OR PREDOMINATELY AS A
PASSIVE INVESTOR IN THE PUBLIC ACCOUNTING FIRM.
(5) THE PERSON
HAS GRADUATED
WITH A BACCALAUREATE OR HIGHER DEGREE CONFERRED BY A COLLEGE OR
UNIVERSITY APPROVED BY THE BOARD.
(6) THE PERSON MEETS OR EXCEEDS THE
CONTINUING EDUCATION REQUIREMENTS THAT THE BOARD ESTABLISHES BY RULE.
(7) A PERSON WHO HOLDS A PROFESSIONAL LICENSE,
REGISTRATION, OR CERTIFICATION ISSUED BY THIS STATE OR ANOTHER
STATE COMPLIES WITH THE REQUIREMENTS
OF THAT LICENSE, REGISTRATION, OR CERTIFICATION.
(8) THE PERSON ABIDES BY THE CODE OF CONDUCT OF
THE AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS OR A COMPARABLE CODE OF
PROFESSIONAL CONDUCT THAT THE BOARD ADOPTS BY RULE.
(9) THE PERSON COMPLIES WITH ALL APPLICABLE
PROVISIONS OF THIS CHAPTER AND THE RULES ADOPTED BY THE
BOARD.
(C)(E) A PERSON WHO OWNS A VOTING EQUITY
INTEREST IN A PUBLIC ACCOUNTING FIRM MAY NOT DELEGATE, BY PROXY
OR OTHERWISE, THE DUTY TO EXERCISE ANY VOTING RIGHTS TO A PERSON
THAT DOES NOT HOLD AN OHIO
PERMIT OR A FOREIGN CERTIFICATE OR TO A PERSON THAT IS NOT A
QUALIFIED FIRM.
(F) As a condition for initial or renewal registration OF A
PUBLIC ACCOUNTING FIRM on
and after January 1, 1993, the board, by rule, shall require that
all EACH public accounting firms FIRM undergo a
quality PEER review to
determine
the PUBLIC ACCOUNTING FIRM'S degree of compliance by the firm
IN THE PRACTICE OF PUBLIC ACCOUNTING with
generally accepted
accounting principles and, GENERALLY ACCEPTED auditing
standards, and other generally
accepted technical standards, unless the applicant PUBLIC
ACCOUNTING firm meets one
of the exceptions in division (G)(J) of this section.
(D)(G) The board shall adopt rules establishing guidelines
for quality PEER reviews. The rules shall do all of the
following:
(1) Designate a quality PEER review committee consisting of
accounting professionals to serve as advisors to the board and to
ensure that the board's guidelines are followed. The board
shall MAY establish fair and reasonable compensation for the
committee members to
be paid for time they spend conducting committee business.
(2) Require that the quality PEER review be conducted by a
reviewer that is both independent of the PUBLIC ACCOUNTING firm
reviewed and
qualified pursuant to board rules;
(3) Require that the standards and practices applied by
the reviewer be at least as stringent as those applied by the
American institute of certified public accountants;
(4) Prohibit the use or disclosure of information obtained
by members of the board OR A COMMITTEE of PEER reviewers during
or in connection with
the quality PEER review process for purposes other than those
related
to determining the degree of compliance by the PUBLIC ACCOUNTING firm
with
generally accepted accounting principles and, GENERALLY
ACCEPTED auditing standards,
and other generally accepted technical standards. Division
(D)(G)(4) of this section does not apply to the use or
disclosure of
information that is described in division (H)(K)(3) of this
section
or that is necessary to comply with any provision of law.
(E)(H)(1) If a quality PEER review report
indicates that a
PUBLIC ACCOUNTING firm
does not comply with standards and practices set forth in board
guidelines, the board may, at, IN its discretion, or
shall, upon
submission of a written application by the firm, MAY hold a hearing
to determine whether the firm complies with the standards and
practices. If the board, after conducting the hearing,
determines that the firm complies with the standards and
practices, it shall issue an order requiring the reviewer and the
quality review committee to take any necessary action to record
and implement the board's determination and to restore the status
of compliance upon the firm. However, if REVIEW THE RESULTS OF THE
PEER REVIEW REPORT. IF the board, after
conducting the hearing, determines that the PUBLIC ACCOUNTING firm does
not comply
with the standards and practices, it may issue an order that
requires both of the following:
(a) Remedial OR DISCIPLINARY action, which may include ANY OF THE
FOLLOWING:
(i) Requiring employees of the PUBLIC ACCOUNTING firm to complete
general or
specific continuing professional education courses;
(ii) Requiring the PUBLIC ACCOUNTING firm to undergo quality
PEER review
more
frequently than triennially and PEER REVIEW THAT IS conducted in whole
or part under
the direct supervision of the board or its designee;
(iii) Any other remedial action specified by the board;
(iv) IMPOSING ANY DISCIPLINARY MEASURES SET FORTH IN DIVISION
(B) OF SECTION 4701.16 of the Revised Code.
(b) An affidavit from the PUBLIC ACCOUNTING firm submitted within the
time
specified by the board indicating completion of required remedial
actions.
(2) Notwithstanding divisions (H)(K)(1) and (2) of this
section, all matters relating to the procedures for determining
compliance with the standards and practices under division
(E)(H)(1)
of this section are subject to Chapter 119. of the Revised Code,
including the notice and conduct of any hearing, and the issuance
and appeal of any order.
(F)(I) The PUBLIC ACCOUNTING firm reviewed shall pay
for any quality PEER review
performed.
(G)(J) The board may exempt a PUBLIC ACCOUNTING firm
from the requirement to
undergo a quality PEER review if the PUBLIC ACCOUNTING
firm submits to the
board a
written and notarized statement that the PUBLIC ACCOUNTING firm meets
at least one
of the following grounds for exemption identified in the
statement:
(1) Within three years of the date of application for
initial or renewal registration, the PUBLIC ACCOUNTING firm has been
subject to a
quality PEER review acceptable to the board and conducted
pursuant to
standards not less stringent than review standards applied by the
American institute of certified public accountants. The PUBLIC
ACCOUNTING firm
shall submit to the board a copy of the results of the quality
PEER
review and any additional documentation required by the board. The
board, however, shall not require submittal of the working
papers related to the quality PEER review process.
(2) Within three years of the date of application for
initial or renewal registration, the PUBLIC ACCOUNTING firm has
undergone a quality PEER
review conducted in another state or foreign country. The PUBLIC
ACCOUNTING firm
shall submit to the board a copy of the results of the quality
PEER
review and any additional documentation required by the board,
including a detailed report of the procedures and standards
applied by the reviewer.
(3) The PUBLIC ACCOUNTING firm has never practiced public accounting
in this
state or any other state or foreign country and will undergo a
quality PEER review within eighteen months of registration.
(4) The PUBLIC ACCOUNTING firm, on a schedule as required by rule
adopted by the board, submits a report to the board that
states all of the following:
(a) The PUBLIC ACCOUNTING firm does not engage in any financial
reporting
areas of practice including audits, compilations, or reviews UNDERTAKE
ANY ENGAGEMENT THAT WILL RESULT IN THE ISSUANCE OF AN ATTEST REPORT.
(b) Within the next three years, the PUBLIC ACCOUNTING firm does not
intend
to engage in any financial reporting areas of practice including
audits, compilations, reviews, or prospective financial
statements UNDERTAKE ANY ENGAGEMENT THAT WILL RESULT IN THE ISSUANCE OF
ANY ATTEST REPORT.
(c) The PUBLIC ACCOUNTING firm agrees to notify the board within
ninety days
of engaging in any financial reporting areas of practice
including audits, compilations, or reviews AFTER ACCEPTING ANY
ENGAGEMENT THAT WILL RESULT IN THE ISSUANCE OF ANY ATTEST REPORT
and will
undergo a
quality PEER review within one year of commencing such
practices AFTER THE
ACCEPTANCE OF AN ENGAGEMENT OF THAT NATURE.
(5) Subject to the board's approval, for reasons of
personal health, military service, or other good cause, the PUBLIC
ACCOUNTING firm
is entitled to an exemption.
(H)(K) In any civil action, arbitration, or administrative
proceeding involving a PUBLIC ACCOUNTING firm, all of the following
shall apply:
(1) The proceedings, records, and work papers of any
reviewer, including board members and review committee members,
involved in the quality PEER review process are privileged and
not
subject to discovery, subpoena, or other means of legal process
and may not be introduced into evidence.
(2) No reviewer, including board members and review
committee members, involved in the quality PEER review process
shall
be permitted or required to testify as to any matters produced,
presented, disclosed, or discussed during or in connection with
the quality PEER review process; or SHALL be
required to testify to
any
finding, recommendation, evaluation, opinion, or other actions of
such THOSE committees, or their members.
(3) No privilege exists under this section for either of
the following:
(a) Information presented or considered in the quality PEER
review process which THAT was otherwise available to the public;
(b) Materials prepared in connection with a particular
engagement merely because they subsequently are presented or
considered as part of the quality PEER review process.
(I)(L) If a quality PEER review report
indicates that a PUBLIC
ACCOUNTING firm
complies with standards and practices set forth in board
guidelines, the board shall destroy all documents and reports
related to the quality PEER review within thirty days after the
board
completes its review of the report. If a quality PEER review
report
indicates that a PUBLIC ACCOUNTING firm does not comply with
such THOSE
standards and
practices, the board shall retain all documents and reports
related to the quality PEER review until completion of the next
quality PEER review.
Sec. 4701.06. The ACCOUNTANCY BOARD SHALL GRANT THE certificate of
"certified public
accountant" shall be granted by the accountancy board to any
person WHO SATISFIES THE FOLLOWING REQUIREMENTS:
(A) Who THE PERSON is a resident of this state or has a place
of
business therein IN THIS STATE or, as an employee, is regularly
employed
therein IN THIS STATE. The board may DETERMINE by rule
determine
circumstances under
which the residency requirement may be waived.
(B) Who THE PERSON has attained the age of eighteen
years;.
(C) Who THE PERSON is of good moral character;.
(D) Who THE PERSON meets the FOLLOWING requirements of
education and experience
as provided in this division:
(1)(a) Prior to January 1, 2000, graduation with a
baccalaureate degree conferred by a college or university
recognized by the board, with a concentration in accounting that
includes related courses in other areas of business
administration, or what the board determines to be substantially
the equivalent of the foregoing;
(b) On and after January 1, 2000, graduation with a
baccalaureate or higher degree that includes successful
completion of one hundred fifty semester hours of undergraduate
or graduate education. The board shall by rule SHALL specify
graduate
degrees that satisfy this requirement and shall also by rule
SHALL require such ANY subjects as THAT it
considers appropriate. The total
educational program shall include an accounting concentration
with related courses in other areas of business administration,
as defined by board rule.
(2)(a) The experience requirement for candidates meeting
the educational requirements set forth in division (D)(1)(a) or
(b) of this section is two years ONE YEAR of public
accounting experience,
satisfactory to the board, in any state in practice, as a
certified public accountant or as a public accountant, or, in any
state in employment, as a staff accountant by anyone practicing
public accounting, or such experience in private or governmental
accounting as is, in the opinion of the board, the equivalent of
such public accounting practice, or any combination of such
types
of experience.
(b) The experience requirement is only one year of the
experience described in division (D)(2)(a) of this section for
any candidate holding a master's degree in accounting or business
administration from a college or university recognized by the
board, if he has satisfactorily completed such
number
of semester hours in graduate accounting and such related subjects as the
board determines to be appropriate ANY OF THE FOLLOWING:
(i) A PUBLIC ACCOUNTING FIRM;
(ii) GOVERNMENT;
(iii) BUSINESS;
(iv) ACADEMIA.
(c)(b) Except as provided in division
(D)(2)(d)(c) of this
section, the experience requirement for any candidate who, on and
after January 1, 2000, does not meet the educational requirement
set forth in division (D)(1)(b) of this section is four years of
experience described in division (D)(2)(a) of this section. The
experience requirement for any candidate who, prior to January 1,
2000, does not meet the educational requirement set forth in
division (D)(1)(a) of this section is two years of experience
described in division (D)(2)(a) of this section.
(d)(c) On and after January 1, 2000, the experience
requirement for any candidate who, subsequent to obtaining a
baccalaureate or higher degree, other than a baccalaureate or
higher degree described in division (D)(1)(b) of this section,
successfully completes coursework that meets the educational
requirement set forth in division (D)(1)(b) of this section, is
two years of experience described in division (D)(2)(a) of this
section.
(E) Who THE PERSON has passed a written examination in
accounting and
auditing and in such ANY related subjects as THAT
the board determines to
be appropriate. The board shall adopt rules, consistent with
this section, for these examinations and for application to take
these examinations.
None of the educational requirements specified in division
(D) of this section apply to a candidate who is registered as a
public accountant under section 4701.07 of the Revised Code HAS A
PA REGISTRATION, but
the experience requirement for such THE candidate who does not
meet
such THOSE educational requirements is four years of the
experience
described in division (D)(2)(a) of this section.
Prior to January 1, 2000, the board shall waive the
educational requirement set forth in division (D)(1)(a) of this
section for any candidate if it finds that the candidate has
attained the equivalent education by attendance at a business
school, by self-study, or otherwise, and if it is satisfied from
the results of special written examinations given THAT THE BOARD
GIVES the candidate
by the board to test his THE CANDIDATE'S educational
qualifications that he THE CANDIDATE is as well equipped,
educationally, as if he THE CANDIDATE met the applicable
educational requirement specified in division (D)(1)(a) of this section.
On and after January 1, 2000, the board shall waive the
educational requirement set forth in division (D)(1)(b) of this
section for any candidate if the board finds that the candidate
has obtained from an accredited college or university approved by
the board, either an associate degree or a baccalaureate degree,
other than a baccalaureate degree described in division (D)(1)(b)
of this section, with a concentration in accounting that includes
related courses in other areas of business administration, and if
the board is satisfied from the results of special written
examinations given THAT THE BOARD GIVES the candidate by the
board to test his THE
CANDIDATE'S educational qualification that the candidate is as well
equipped,
educationally, as if he THE CANDIDATE met the applicable
educational requirement specified in division (D)(1)(b) of this section.
The board shall provide by rule for the general scope of
any special written examinations for a waiver of the educational
requirements under division (D)(1)(a) or (b) of this section, and
may obtain such ANY advice and assistance as THAT
it considers appropriate
to assist it in preparing and grading such THOSE special written
examinations. The board may use any existing examinations or may
prepare any number of new examinations to assist in determining
the equivalent training of a candidate. The board shall by rule
SHALL prescribe any special written examinations for a waiver of the
educational requirements under division (D)(1)(a) or (b) of this
section and the passing score required for each examination.
The examinations described in division (E) of this section
and the special written examinations for a waiver of the
educational requirements under division (D)(1)(a) or (b) of this
section shall be held by the board and shall take place as often
as the board determines to be desirable, but the examinations
described in division (E) of this section shall be held not less
frequently than once each year. The board may make such THE use
of
all or any part of the uniform certified public accountants'
examination and advisory grading service, or either, as it
considers appropriate to assist it in performing its duties
hereunder UNDER THIS SECTION. The board ALSO may
also contract with
qualified
organizations for assistance in the administration of any
examinations. The board by rule may provide for granting credit
to a candidate for his satisfactory completion of a written
examination in one or more of the subjects specified REFERRED TO
in division
(E) of this section given by the licensing authority in any other
state.
A candidate who has met the educational requirements, or
with respect to whom they either do not apply or have been
waived, is eligible to take the examination specified REFERRED
TO in division
(E) of this section without waiting until he THE CANDIDATE meets
the experience requirements, provided he THE CANDIDATE also
meets the requirements of
divisions (A) and (C) of this section.
A candidate for the certificate of certified public
accountant who has successfully completed the examination under
division (E) of this section has no status as a certified public
accountant, unless and until he THE CANDIDATE has the requisite
experience and has received his A certificate as a certified
public accountant. The board shall determine and charge a fee for issuing the
certificate that is adequate to cover the expense.
The board may by rule MAY prescribe the terms and conditions
under which a candidate who passes the examination in one or more
of the subjects indicated REFERRED TO in division (E) of this
section may be
reexamined in only the remaining subjects, with credit for the
subjects previously passed. It may also MAY provide by rule for
a
reasonable waiting period for a candidate's reexamination in a
subject he THE CANDIDATE has failed. Subject to the
foregoing BOARD RULES OF THOSE TYPES
and such ANY other rules as THAT the board may
adopt governing reexaminations, a
candidate is entitled to any number of reexaminations under
division (E) of this section. No candidate shall be required to
be reexamined in all subjects unless a period of four years has
elapsed since the candidate initially earned credit on the
examination.
The applicable educational and experience requirements
under division (D) of this section shall be those in effect on
the date on which the candidate first sits for the examination.
The board shall charge such A candidate a reasonable fee, to
be determined by the board, that is adequate to cover all
rentals, compensation for proctors, and other administrative
expenses of the board related to examination or reexamination,
including the expenses of procuring and grading the examination
provided for in division (E) of this section and for any special
written examinations for a waiver of the educational requirements
under division (D)(1)(a) or (b) of this section. Fees for
reexamination under division (E) of this section shall be charged
by the board in amounts determined by it. The applicable fees
shall be paid by the candidate at the time he THE CANDIDATE
applies for examination or reexamination.
Any person who has received from the board a certificate as
a certified public accountant and who holds a AN OHIO
permit issued under
section 4701.10 of the Revised Code, which is in full force and
effect, shall be styled and known as a "certified public
accountant" and may also MAY use the abbreviation
"CPA." The board
shall maintain a list of certified public accountants. Any
certified public accountant may also MAY be known as a "public
accountant."
Persons who, on the effective date of an amendment of this
section, held certified public accountant certificates
theretofore PREVIOUSLY issued under the laws of this state shall
not be
required to obtain additional certificates under this section,
but shall otherwise be subject to all provisions of this
section;,
and such THOSE PREVIOUSLY ISSUED certificates theretofore
issued
shall, for all purposes,
SHALL be considered certificates issued under this section and subject
to the ITS provisions hereof.
The board may waive the examination under division (E) of
this section, and, upon payment of a fee determined by
it, may
issue a certificate as a "certified public accountant" to any
person possessing WHO POSSESSES the qualifications specified in
divisions (A),
(B), and (C) of this section and what the board determines to be
substantially the equivalent of the applicable qualifications
under division (D) of this section, AND who is the holder of a
certificate as a certified public accountant, then in full force
and effect, issued under the laws of any state, or is the holder
of a certificate, license, or degree in a foreign country
constituting THAT CONSTITUTES a recognized qualification for the
practice of
public accounting in such THAT country, THAT IS
comparable to that of a
certified public accountant of this state, which AND THAT is
then in full
force and effect.
Sec. 4701.061. Notwithstanding anything to the contrary in
section 4701.06 of the Revised Code, the ACCOUNTANCY BOARD SHALL GRANT
A certificate of
"certified public accountant" shall be granted by the accountancy
board to any public accountant who meets all the following
requirements:
(A) The public accountant applies to the board for the
certificate under this section;.
(B) At the time of application and the time that the
certificate is granted, the public accountant holds a live AN
OHIO permit
issued under division (A) of section 4701.10 of the Revised
Code;.
(C) At the time of application, any public accounting firm
that employs the public accountant or in which the public
accountant has an interest is registered, and meets the
applicable quality PEER review requirements of the board,
under
section 4701.04 of the Revised Code;.
(D) For not less than one hundred twenty months, the
public accountant has held a AN OHIO permit issued
under division (A) of
section 4701.10 of the Revised Code and has completed and
reported to the board all applicable continuing education hours
required by section 4701.11 of the Revised Code and the rules
adopted pursuant thereto TO THAT SECTION.
Sec. 4701.07. The accountancy board shall register as a
public accountant any person who meets all the following
requirements:
(A) Is THE PERSON IS a resident of this state, or has a
place of
business therein; IN THIS STATE.
(B) Has THE PERSON HAS attained the age of eighteen
years;.
(C) Is THE PERSON IS of good moral character;.
(D) Holds THE PERSON HOLDS a baccalaureate or higher degree
conferred by a
college or university recognized by the board, with a
concentration in accounting, or with what the board determines to
be substantially THE equivalent of the foregoing; or with a
nonaccounting concentration supplemented by what the board
determines to be substantially the equivalent of an accounting
concentration, including related courses in other areas of
business administration.
The board may waive the educational requirement for any
candidate if it finds that the candidate has attained the
equivalent education by attendance at a business school or
two-year college, by self-study, or otherwise, and if it is
satisfied from the result of a special written examination given
THAT THE BOARD GIVES
the candidate by the board to test his THE CANDIDATE'S
educational qualifications that he THE CANDIDATE is as well
equipped, educationally, as if he THE CANDIDATE met the
applicable educational requirement specified in this division. The board may
provide by rule for the general scope of such THESE
examinations and may obtain such ANY advice and assistance
as THAT it
considers appropriate to assist it in preparing and grading such
THE
special examinations. The board may use any existing
examinations or may prepare any number of new examinations to
assist it in determining the equivalent training of a candidate.
The board may by rule MAY prescribe such THE
SPECIAL examinations and the
passing
score required for each examination.
(E) Has THE PERSON HAS completed two years of public accounting
experience, satisfactory to the board, in any state in practice
as a public accountant, or in any state in employment, as a
staff
accountant by anyone practicing public accounting, or such OTHER
experience in private or governmental accounting as will THAT,
in the
opinion of the board, WILL be the equivalent of such THAT
public accounting
practice, or any combination of such THOSE types of experience,
except
that the experience requirement is only one year of the
experience described in this division for any candidate holding a
master's degree in accounting or business administration from a
college or university recognized by the board, if he THE
CANDIDATE has satisfactorily completed such THE number of
credit hours in
accounting, business administration, economics, and such ANY
related
subjects as THAT the board determines to be appropriate;
and IF EITHER OF THE FOLLOWING APPLIES:
(1) Has THE PERSON HAS passed the uniform national society of
public
accountants examination or a comparable examination approved by
the public accountant members of the accountancy board; or.
(2) Has THE PERSON HAS passed the accounting practice and
auditing
sections of the uniform CPA examination.
The examination described in division (E)(1) of this
section shall be held by the board and shall take place as often
as the board determines, but shall not be held less frequently
than once each year. The board shall charge a candidate an
application fee, to be determined by the board, that is adequate
to cover all rentals, compensation for proctors, and other
expenses of the board related to examination or reexamination
except the expenses of procuring and grading the examination. In
addition, the board shall charge such THE candidate an
examination
fee to be determined by the board, that is adequate to cover the
expense of procuring and grading the examination. Fees for
reexamination under division (E) of this section shall also
SHALL be
charged by the board in amounts determined by it to be adequate
to cover the expenses of procuring and grading the examinations. The
applicable fees shall be paid by the candidate at the time he THE
CANDIDATE applies for examination or reexamination.
(F) Applied THE PERSON APPLIED, on or before the effective
date of this
amendment APRIL 16, 1993, for registration as a
public accountant.
The board shall determine and charge a fee for registration
under this section that is adequate to cover the expense.
The board shall in each case SHALL determine whether the
applicant is eligible for registration. Any individual who is so
registered and who holds a AN OHIO permit issued
under
section 4701.10 of
the Revised Code shall be styled and known as a "public
accountant" and may use the abbreviation "PA."
A person who, on the effective date of an amendment of this
section, holds a valid registration as a public accountant issued
under the laws of this state shall not be required to obtain
additional registration under this section, but shall otherwise
be subject to all provisions of this section; and such.
THAT registration shall, for all purposes, SHALL be
considered a
registration issued under this section and subject to the
ITS provisions hereof.
Sec. 4701.10. (A) Permits to
practice public accounting shall be issued by the THE accountancy
board SHALL ISSUE OHIO PERMITS TO PRACTICE PUBLIC ACCOUNTING
to holders
of the certificate of certified public accountant issued under
section 4701.06 or 4701.061 of the Revised Code and to persons
registered under sections 4701.07 and 4701.09 of the Revised
Code. Subject to division (D)(1) of this section, there shall be
a triennial permit fee in an amount to be determined by the board
not to exceed one hundred fifty dollars. All OHIO permits
shall
expire on the last day of December of the year assigned by the
board and, subject to division (D)(1) of this section, shall be
renewed triennially for a period of three years by certificate
holders and registrants in good standing upon payment of a
triennial renewal fee not to exceed one hundred fifty dollars. For the
purpose of implementing this section and enforcing
section 4701.11 of the Revised Code, the board may issue a AN
OHIO permit
for less than three years' duration. A prorated fee shall be
determined by the board for such THAT OHIO permit.
Failure of any
certificate holder or registrant to apply for a triennial OHIO
permit
to practice within three years from the expiration date of the
OHIO permit to practice last obtained or renewed, or three
years from
the date upon which the certificate holder or registrant was
granted a certificate or registration, shall result in
suspension of such THE certificate or registration unless the
board
determines such THE failure to have been due to excusable
neglect. In such THAT case,
the renewal fee or the fee for the issuance of the
original OHIO permit, as the case may be, shall be such
THE amount as THAT the
board shall determine, but not in excess of fifty dollars plus
the fee for each triennial period or part of a period the
certificate holder or registrant did not have a AN OHIO
permit.
(B) All certificate holders and registrants who are not in
the practice of public accounting in this state shall register
with the board every three years at a fee, not to exceed
fifty-five dollars, established by the board. Such persons shall
not convey to the general public that they are actively engaged
in the practice of public accounting in this state.
(C) The board shall suspend the certificate or
registration of any person failing to obtain a AN OHIO
permit in
accordance with this section, except that the board may by rule
MAY exempt persons from the requirement of holding a AN
OHIO permit for such SPECIFIED
reasons as, INCLUDING, BUT NOT LIMITED TO,
retirement, health reasons, military service, foreign
residency, or other just cause.
(D)(1) On and after January 1, 1995, the board shall, by
rule adopted in accordance with Chapter 119. of the Revised Code,
SHALL increase the triennial OHIO permit and renewal
fee imposed pursuant to
this section by at least fifteen dollars but no more than thirty
dollars.
(2) Beginning with the first quarter of 1995 and each
quarter thereafter, the board, for the purpose provided in
section 4743.05 of the Revised Code, shall certify to the
director of budget and management the number of triennial OHIO
permits
renewed under this chapter during the preceding quarter and the
amount equal to that number times the amount by which the
triennial OHIO permit and renewal fee is increased by the
board under
division (D)(1) of this section.
Sec. 4701.11. The accountancy board may adopt rules
requiring that each applicant for the AN OHIO permit
required by
section
4701.10 of the Revised Code shall have demonstrated to the
satisfaction of the board that the applicant has maintained a
high level of professional competence by the completion of
programs of continuing education satisfactory to the board during
the period immediately prior to the application for the permit or
renewal. The board shall not require more than one hundred
twenty hours of such THOSE programs over any three-year period
for
applicants possessing a live AN OHIO permit. For
purposes of this
section, the board shall not approve any continuing education
courses for which fees are charged and which THAT are sponsored
by an
accounting association in this state unless such THOSE courses
are open
to all persons registered or certified under this chapter and
unless the fees charged are reasonable for all persons desiring
to take the courses.
The board may issue a AN OHIO permit required by
section 4701.10 of
the Revised Code for less than three years to any person who is
unable to complete continuing education hours required for
renewal of a triennial OHIO permit for good cause, as
established by
rule. Such THE OHIO permit shall be conditioned upon
the completion of
all required continuing education hours during the period for
which such THE OHIO permit is issued.
Sec. 4701.12. The display or uttering by a person of a card, sign,
advertisement, or other printed, engraved, or written instrument
or device,
bearing a person's name in conjunction with the words "certified public
accountant" or any abbreviation thereof OF THOSE WORDS, or
"public accountant" or any
abbreviation thereof OF THOSE WORDS, shall be
prima-facie evidence in any action
brought under
section 4701.18 or section 4701.99 of the Revised Code, that the
person whose
name is so displayed caused or procured the display or uttering of such
THAT card,
sign, advertisement, or other printed, engraved, or written
instrument or
device, and that such THE person is holding himself
SELF out to be a
certified public accountant or a public accountant holding a AN
OHIO permit to
practice under section 4701.10 of the Revised Code. In any action,
evidence
of the commission of a single act prohibited by this section shall be
sufficient to justify an injunction or a conviction without evidence of a
general course of conduct.
Sec. 4701.13. The accountancy board shall publish annually a printed
register,
which. THE PRINTED REGISTER shall contain in separate lists
the names and business addresses of all
certified public accountants and public accountants holding live
OHIO permits as of
the date of preparation of the register.
Sec. 4701.14. (A) No person EXCEPT AS PERMITTED BY RULES ADOPTED
BY THE ACCOUNTANCY BOARD, NO INDIVIDUAL shall assume or use the title
or designation "certified public accountant,"
"CERTIFIED ACCOUNTANT," "CHARTERED ACCOUNTANT," "ENROLLED
ACCOUNTANT," "LICENSED ACCOUNTANT," OR "REGISTERED ACCOUNTANT," OR
ANY OTHER TITLE OR DESIGNATION LIKELY TO BE CONFUSED WITH
"CERTIFIED PUBLIC ACCOUNTANT,"
or abbreviation
ANY OF THE ABBREVIATIONS
"CPA,"
"PA,"
"CA,"
"EA,"
"LA," OR
"RA," OR SIMILAR ABBREVIATIONS
LIKELY TO BE CONFUSED WITH
"CPA," or any other title, designation, words, letters,
abbreviation, sign, card, or device tending to indicate that the person
INDIVIDUAL is a
certified public accountant, unless the person has
received INDIVIDUAL HOLDS a CPA certificate as a
certified public accountant under
section 4701.06 or 4701.061 of the Revised Code and holds a live
AN OHIO
permit issued under section 4701.10 of the Revised Code; provided
that
a foreign accountant who. HOWEVER, AN INDIVIDUAL WHO POSSESSES
A FOREIGN CERTIFICATE, has
registered under section 4701.09 of the
Revised Code, and holds a live AN OHIO permit
issued under section 4701.10 of the Revised Code may use the
title PERMITTED under which he is
generally known
in his country THE LAWS OF THE INDIVIDUAL'S OTHER LICENSING
JURISDICTION, followed
by the name of the country from which he
received his
certificate, license, or degree JURISDICTION.
(B) No partnership shall assume or use the title or
designation "certified public accountant" or abbreviation
"CPA"
or any other title, designation, words, letters, abbreviation,
sign, card, or device tending to indicate that the partnership
is composed of certified public accountants unless it meets all of
the following requirements:
(1) At least one general partner of the partnership is a certified
public accountant of this state in good standing.
(2) Each partner who is personally engaged within this
state in the practice of public accounting as a member of the partnership is
a certified public accountant of this state in good standing.
(3) Each partner of
the
partnership is a certified public accountant
of some state in good standing.
(4) Each resident manager in charge of an office of the
firm in this state is a certified public accountant of this state
in good standing.
(C) No person EXCEPT AS PERMITTED BY RULES ADOPTED BY THE BOARD, NO
INDIVIDUAL shall assume or use the title or designation
"public accountant," or
"CERTIFIED PUBLIC ACCOUNTANT," "CERTIFIED ACCOUNTANT,"
"CHARTERED ACCOUNTANT," "ENROLLED ACCOUNTANT," "REGISTERED
ACCOUNTANT," OR "LICENSED ACCOUNTANT," OR ANY OTHER TITLE OR
DESIGNATION LIKELY TO BE CONFUSED WITH "PUBLIC ACCOUNTANT," OR
ANY OF THE ABBREVIATIONS
"PA,"
"CPA,"
"CA,"
"EA,"
"LA," OR
"RA," OR SIMILAR ABBREVIATIONS
LIKELY TO BE CONFUSED WITH
"PA,"
or any other title, designation,
words, letters, abbreviation, sign, card, or device tending to
indicate that the person INDIVIDUAL is a public accountant,
unless the
person is registered as a public accountant under section 4701.07
of the Revised Code and INDIVIDUAL HOLDS A PA REGISTRATION
AND holds a live AN OHIO permit issued under
section
4701.10 of the Revised Code, or unless the person has received
a INDIVIDUAL HOLDS A CPA
certificate as a certified public accountant under section
4701.06 or 4701.061 of the Revised Code or holds a live permit
issued under section 4701.10 of the Revised Code.
AN INDIVIDUAL WHO HOLDS A
PA REGISTRATION AND AN
OHIO PERMIT MAY HOLD SELF OUT TO THE
PUBLIC AS AN "ACCOUNTANT" OR "AUDITOR."
(D) No partnership shall assume or use the title or
designation "public accountant" or abbreviation
"PA" or any other
title, designation, words, letters, abbreviation, sign, card, or
device tending to indicate that the partnership is composed of
public accountants, unless all of the following apply:
(1) At least one general partner of the partnership is a certified
public accountant or a public accountant of this state in good
standing.
(2) Each partner who is personally engaged within this
state in the practice of public accounting as a member of the partnership is
a certified public accountant or a public accountant of this
state in good standing.
(3) Each resident manager in charge of an office of a firm
in this state is a certified public accountant or a public
accountant of this state in good standing.
(E) No person or partnership shall assume or use the title
or designation "certified accountant," "chartered accountant,"
"enrolled accountant," "licensed accountant," "registered
accountant," or any other title or designation likely to be
confused with "certified public accountant" or "public
accountant," or any of the abbreviations "CA,"
"EA,"
"RA," or
"LA" or similar abbreviations likely to be confused
with
"CPA" or
"PA"; provided that
anyone who
holds a live permit issued under
section 4701.10 of the Revised Code may hold himself out to the
public as an "accountant" or "auditor"; and provided
that a
foreign accountant who has registered under section 4701.09 of
the Revised Code and holds a live permit issued under section
4701.10 of the Revised Code may use the title under which he
is
generally known in his country,
followed by the name of the
country from which he received his
certificate, license, or
degree.
(F) No (C) EXCEPT AS PROVIDED IN DIVISIONS
(C)(1), (2),
(3), AND (4)
OF THIS SECTION, NO PARTNERSHIP, professional association,
corporation-for-profit,
limited liability
company, or other legal entity BUSINESS ORGANIZATION not
addressed in another division of
this
section THAT IS PRACTICING PUBLIC ACCOUNTING IN THIS STATE shall assume
or use the title
or
designation "certified public accountant," or "public
accountant," and no
professional association, corporation-for-profit, limited liability company,
or other legal entity not addressed in another division of this section shall
assume or use the title or designation
"certified accountant," "chartered accountant," "enrolled
accountant," "licensed accountant," "registered accountant," or
any other title or designation likely to be confused with
"certified public accountant" or "public accountant," or any of
the abbreviations "CPA," "PA," "CA," "EA,"
"RA," or "LA," or
similar abbreviations likely to be confused with "CPA" or
"PA,"
except that a
OR ANY OTHER TITLE, DESIGNATION, WORDS, LETTERS,
ABBREVIATION, SIGN, CARD, OR DEVICE TENDING TO INDICATE THAT THE
BUSINESS ORGANIZATION IS A PUBLIC ACCOUNTING FIRM.
(1)(a) A PARTNERSHIP MAY ASSUME OR
USE THE TITLE OR DESIGNATION "CERTIFIED PUBLIC ACCOUNTANT," THE
ABBREVIATION "CPA," OR ANY
OTHER TITLE, DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN,
CARD, OR DEVICE TENDING TO INDICATE THAT THE PARTNERSHIP IS
COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS IF IT IS A REGISTERED
FIRM, IF A MAJORITY OF ITS PARTNERS WHO ARE INDIVIDUALS HOLD A
CPA CERTIFICATE OR A FOREIGN
CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A PARTNER HOLD A
CPA CERTIFICATE OR A
FOREIGN CERTIFICATE.
(b) A PARTNERSHIP MAY ASSUME OR USE
THE TITLE OR DESIGNATION "PUBLIC ACCOUNTANT," THE ABBREVIATION
"PA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE PARTNERSHIP IS COMPOSED OF PUBLIC
ACCOUNTANTS IF IT IS A REGISTERED FIRM, IF A MAJORITY OF ITS
PARTNERS WHO ARE INDIVIDUALS HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A FOREIGN
CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A PARTNER HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A
FOREIGN CERTIFICATE.
(2)(a) A professional association organized for the
practice
of public accounting and incorporated under Chapter 1785. of the
Revised Code may assume or use the title OR DESIGNATION "certified
public
accountant," if all of its
shareholders
are certified public
accountants in good standing under the law of this state or another state or
may assume or use the title "public accountant"
if all of its shareholders are
public
accountants in good standing under this
chapter or its
shareholders consist of certified public accountants and public
accountants in good standing under this chapter, except that a
THE ABBREVIATION
"CPA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE PROFESSIONAL ASSOCIATION IS
COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS IF IT IS A REGISTERED
FIRM, IF A MAJORITY OF ITS SHAREHOLDERS WHO ARE INDIVIDUALS HOLD
A CPA CERTIFICATE OR A
FOREIGN CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A SHAREHOLDER HOLD A
CPA CERTIFICATE OR A FOREIGN
CERTIFICATE.
(b) A PROFESSIONAL ASSOCIATION
INCORPORATED UNDER CHAPTER
1785. OF THE REVISED CODE MAY ASSUME OR USE THE
TITLE OR DESIGNATION "PUBLIC ACCOUNTANT," THE ABBREVIATION
"PA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE PROFESSIONAL ASSOCIATION IS
COMPOSED OF PUBLIC ACCOUNTANTS IF IT IS A REGISTERED FIRM, IF A
MAJORITY OF ITS SHAREHOLDERS WHO ARE INDIVIDUALS HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A
FOREIGN CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A SHAREHOLDER HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A
FOREIGN CERTIFICATE.
(3)(a) A corporation-for-profit
organized for the practice of public accounting and incorporated under
Chapter
1701. of the Revised Code may assume or use the title OR DESIGNATION
"certified public
accountant," if all
of its
shareholders
are certified public accountants in
good
standing under the law of this state or another state or may assume or use the
title "public accountant" if all of
its
shareholders are public accountants in
good standing under this chapter or its
shareholders consist of certified
public accountants and public accountants in good standing under this chapter,
and except that a
THE ABBREVIATION
"CPA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE CORPORATION IS COMPOSED OF
CERTIFIED PUBLIC ACCOUNTANTS IF IT IS A REGISTERED FIRM, IF A
MAJORITY OF ITS SHAREHOLDERS WHO ARE INDIVIDUALS HOLD A
CPA CERTIFICATE OR A FOREIGN
CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A SHAREHOLDER HOLD A
CPA CERTIFICATE OR A
FOREIGN CERTIFICATE.
(b) A CORPORATION INCORPORATED UNDER
CHAPTER 1701. OF THE
REVISED CODE MAY ASSUME OR USE THE
TITLE OR DESIGNATION "PUBLIC ACCOUNTANT," THE ABBREVIATION
"PA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE CORPORATION IS COMPOSED OF PUBLIC
ACCOUNTANTS IF IT IS A REGISTERED FIRM, IF A MAJORITY OF THE
SHAREHOLDERS WHO ARE INDIVIDUALS HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A
FOREIGN CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A SHAREHOLDER HOLD A
PA REGISTRATION, A
CPA CERTIFICATE, OR A FOREIGN
CERTIFICATE.
(4)(a) A limited liability company formed
ORGANIZED under Chapter 1705.
of the
Revised Code for the purpose of rendering public accounting services
may
assume
and OR use the title OR DESIGNATION "certified public
accountant," if each
member
of the company
and, if the management of the company is not reserved to its members, each
manager of the company
is a certified public accountant
in good standing under
the law of this state or another state or may assume and use the title "public
accountant" if each member
of the company and, if the management of the
company
is not reserved to its members, each manager
of the company is a public
accountant in good standing under this chapter or
those members and, if
applicable, managers are either a certified public
accountant or a public
accountant in good standing under this
chapter
THE ABBREVIATION
"CPA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE LIMITED LIABILITY COMPANY IS
COMPOSED OF CERTIFIED PUBLIC ACCOUNTANTS IF IT IS A REGISTERED
FIRM, IF A MAJORITY OF ITS MEMBERS WHO ARE INDIVIDUALS HOLD A
CPA CERTIFICATE OR A FOREIGN
CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A MEMBER HOLD A
CPA CERTIFICATE OR A FOREIGN
CERTIFICATE.
(b) A LIMITED LIABILITY COMPANY
ORGANIZED UNDER CHAPTER 1705.
OF THE REVISED
CODE MAY ASSUME OR USE THE
TITLE OR DESIGNATION "PUBLIC ACCOUNTANT," THE ABBREVIATION
"PA," OR ANY OTHER TITLE,
DESIGNATION, WORDS, LETTERS, ABBREVIATION, SIGN, CARD, OR DEVICE
TENDING TO INDICATE THAT THE LIMITED LIABILITY COMPANY IS
COMPOSED OF PUBLIC ACCOUNTANTS IF IT IS A REGISTERED FIRM, IF A
MAJORITY OF THE MEMBERS WHO ARE INDIVIDUALS HOLD A
PA REGISTRATION,
CPA CERTIFICATE, OR A FOREIGN
CERTIFICATE,
AND IF A MAJORITY OF THE OWNERS OF
ANY QUALIFIED FIRM THAT IS A MEMBER HOLD A
PA REGISTRATION,
A CPA CERTIFICATE, OR A FOREIGN
CERTIFICATE.
(G)(D) No person INDIVIDUAL shall sign, affix,
or associate his THE INDIVIDUAL'S
name or
any trade or assumed name used by him THE INDIVIDUAL in
his
THE INDIVIDUAL'S profession or
business to any opinion, review report, compilation report,
examination report, or agreed-upon procedures report on a
financial statement ATTEST REPORT with any wording indicating that
he THE
INDIVIDUAL is an
accountant or auditor, or with any wording accompanying or
contained in the opinion or ATTEST report that indicates that
he THE
INDIVIDUAL has
expert knowledge in accounting or auditing or expert knowledge
regarding compliance with conditions established by law or
contract, including, but not limited to, statutes, ordinances,
regulations, grants, loans, and appropriations, unless he THE
INDIVIDUAL holds a
live AN OHIO permit issued under section 4701.10 of the
Revised Code;
provided that. HOWEVER, this division does not
prohibit
any officer, employee, partner, or principal of any organization
from affixing his THE OFFICER'S, EMPLOYEE'S, PARTNER'S, OR
PRINCIPAL'S signature to any statement or report in
reference to the financial affairs of that organization with any
wording designating the position, title, or office that he THE
INDIVIDUAL holds
in that organization; and provided that this. THIS
division ALSO does not prohibit any
act of a public official or public employee in the
performance of his THE PUBLIC OFFICIAL'S OR PUBLIC EMPLOYEE'S
duties.
(H)(E) No person shall sign, affix, or associate the name of
a
partnership, limited liability company, professional association,
corporation-for-profit, or other legal entity BUSINESS
ORGANIZATION not addressed in another
division of this section to any opinion, review report,
compilation report, examination report, or agreed-upon procedures
report on a financial statement ATTEST REPORT with any wording
accompanying or
contained in the opinion or ATTEST report that indicates that
the partnership,
limited liability company, professional association, corporation-for-profit,
or other legal entity BUSINESS ORGANIZATION is composed of or
employs
accountants
or auditors or persons having expert knowledge in accounting or
auditing or expert knowledge regarding compliance with conditions
established by law or contract, including, but not limited to,
statutes, ordinances, regulations, grants, loans, and
appropriations, unless the
partnership is entitled to designate
itself as a partnership of certified public accountants under
division (B) of this section or as a partnership of public
accountants under division (D) of this section
and, if it is required to be registered, is registered under section 4701.04
of the Revised Code or unless the,
limited liability company, professional
association, or corporation-for-profit is entitled to designate
itself as a
limited liability company, professional association, or corporation-for-profit
of certified public accountants or public accountants under division (F) of
this section and, if it is required to be registered, OR OTHER BUSINESS
ORGANIZATION is A registered
under section 4701.04 of the Revised Code FIRM.
(I)(F) No person INDIVIDUAL WHO DOES not
holding a
live HOLD AN OHIO permit under section
4701.10 of the Revised Code shall hold himself SELF out to
the public
as an "accountant" or "auditor" by use of either or both of those words on any
sign, card, or letterhead, in any advertisement or
directory, or otherwise, without indicating thereon or therein ON
THE SIGN, CARD, OR LETTERHEAD, IN THE ADVERTISEMENT OR DIRECTORY, OR IN THE
OTHER MANNER OF HOLDING OUT
that the person does not hold a live AN OHIO permit;
provided that. AN INDIVIDUAL WHO HOLDS A CPA
CERTIFICATE AND AN OHIO PERMIT MAY HOLD SELF OUT TO THE PUBLIC AS AN
"ACCOUNTANT" OR "AUDITOR."
HOWEVER, this
division does not prohibit any officer, employee, partner, or
principal of any organization from describing himself SELF by
the
position, title, or office he THE PERSON holds in that
organization; and provided that
this. THIS division ALSO does not prohibit any act
of a public official or
public employee in the performance of his THE PUBLIC OFFICIAL'S OR
PUBLIC EMPLOYEE'S duties.
(J)(G) No partnership that is not entitled to designate
itself as a
partnership of certified public accountants under division (B) of
this section or as a partnership of public accountants under
division (D) of this section, and no limited liability company,
professional
association, corporation-for-profit, LIMITED LIABILITY COMPANY,
or other legal entity BUSINESS ORGANIZATION not addressed in
another division of this section that is not entitled to
assume or use the title "certified public accountant" or "public
accountant" under division (F)(C) of this section,
shall hold
itself
out to the public as a firm, partnership, limited liability
company,
professional association, corporation-for-profit, LIMITED LIABILITY
COMPANY, or other legal entity BUSINESS ORGANIZATION
not
addressed in another division of this section of AS BEING
COMPOSED OF OR EMPLOYING "accountants" or
"auditors" by use of either or both of those words on any sign,
card, or letterhead, in any advertisement or directory, or
otherwise, without indicating thereon or therein ON THE SIGN, CARD,
OR LETTERHEAD, IN THE ADVERTISEMENT OR DIRECTORY, OR IN THE OTHER MANNER OF
HOLDING OUT that the partnership,
limited
liability company, professional association, corporation-for-profit,
LIMITED LIABILITY COMPANY, or
other legal entity BUSINESS ORGANIZATION is not A REGISTERED
FIRM AND IS NOT permitted by law
to practice as a partnership,
limited liability company, professional association, corporation-for-profit,
or other legal entity of public accountants PUBLIC ACCOUNTING FIRM.
(K)(H) No person shall assume or use the title or designation
"certified public accountant" or "public accountant" in
conjunction with names indicating or implying that there is a
partnership or in conjunction with the designation "and Company"
or "and Co." or a similar designation if, in any such case
OF THOSE CASES, there
is in fact no bona fide partnership entitled to designate itself
as a partnership of certified public accountants under division
(B)(C)(1)(a) of this section or as a partnership of public
accountants
under division (D)(C)(1)(b) of this section; provided
that.
HOWEVER, a sole
proprietor or partnership that was on October 22, 1959, or a
corporation that on or after September 30, 1974, has been,
lawfully using a title or designation of those types in conjunction with names
or designations of those types, may continue to do so if he or it
THE SOLE PROPRIETOR, PARTNERSHIP, OR CORPORATION otherwise complies
with this section.
(I)(1) NOTWITHSTANDING ANY OTHER PROVISION OF THIS
CHAPTER, AN INDIVIDUAL WHOSE PRINCIPAL PLACE OF BUSINESS IS NOT
IN THIS STATE AND WHO HOLDS A VALID
FOREIGN CERTIFICATE AS A CERTIFIED PUBLIC ACCOUNTANT
SHALL BE PRESUMED TO HAVE
QUALIFICATIONS SUBSTANTIALLY EQUIVALENT TO THIS STATE'S
CPA REQUIREMENTS AND SHALL HAVE ALL OF THE PRIVILEGES OF A HOLDER
OF A CPA CERTIFICATE
AND AN OHIO PERMIT WITHOUT THE NEED TO OBTAIN A CPA
CERTIFICATE AND AN
OHIO PERMIT
IF THE ACCOUNTANCY BOARD HAS FOUND AND
HAS SPECIFIED IN ITS RULES ADOPTED PURSUANT TO DIVISION (A) OF
SECTION
4701.03 OF THE REVISED CODE THAT THE CPA
REQUIREMENTS OF
THE STATE THAT ISSUED THE INDIVIDUAL'S FOREIGN CERTIFICATE ARE SUBSTANTIALLY
EQUIVALENT TO THIS STATE'S CPA REQUIREMENTS.
(2) ANY INDIVIDUAL EXERCISING THE PRIVILEGE AFFORDED UNDER DIVISION
(I)(1) OF THIS
SECTION HEREBY CONSENTS AND IS SUBJECT, AS A CONDITION OF THE
GRANT OF THE PRIVILEGE, TO ALL OF THE FOLLOWING:
(a) THE PERSONAL AND SUBJECT MATTER JURISDICTION OF THE
ACCOUNTANCY BOARD;
(b) ALL PRACTICE AND DISCIPLINARY PROVISIONS OF THIS
CHAPTER AND THE ACCOUNTANCY BOARD'S RULES;
(c) THE APPOINTMENT OF THE BOARD THAT ISSUED THE
INDIVIDUAL'S FOREIGN CERTIFICATE AS THE
INDIVIDUAL'S AGENT UPON WHOM PROCESS MAY BE SERVED IN ANY ACTION
OR PROCEEDING BY THE ACCOUNTANCY BOARD AGAINST
THE INDIVIDUAL.
(3) THE HOLDER OF A CPA CERTIFICATE AND AN OHIO PERMIT
WHO OFFERS OR RENDERS ATTEST SERVICES OR
USES THE HOLDER'S CPA
TITLE IN ANOTHER
STATE SHALL BE SUBJECT TO DISCIPLINARY ACTION IN THIS STATE FOR AN ACT
COMMITTED IN THE OTHER STATE
FOR WHICH THE HOLDER OF A FOREIGN
CERTIFICATE ISSUED BY THE OTHER STATE WOULD BE SUBJECT TO DISCIPLINE
IN THE OTHER STATE.
(4) THE HOLDER OF A FOREIGN CERTIFICATE
WHO OFFERS OR RENDERS
ATTEST SERVICES OR USES A CPA TITLE OR DESIGNATION IN
THIS STATE PURSUANT TO THE PRIVILEGE AFFORDED BY DIVISION (I)(1) OF
THIS SECTION
SHALL BE SUBJECT TO DISCIPLINARY ACTION IN THIS STATE FOR ANY ACT
THAT WOULD SUBJECT THE HOLDER OF A CPA CERTIFICATE AND AN
OHIO PERMIT TO DISCIPLINARY
ACTION IN THIS STATE.
Sec. 4701.16. (A) After notice and hearing as provided in
Chapter 119. of the Revised Code, the accountancy board may
discipline AS DESCRIBED IN DIVISION (B) OF THIS SECTION a
registrant or certificate holder
as specified in
division (B) of this section
PERSON HOLDING
AN OHIO PERMIT, AN OHIO REGISTRATION, A FIRM REGISTRATION, A
CPA CERTIFICATE, OR A PA REGISTRATION OR ANY OTHER PERSON
WHOSE
ACTIVITIES ARE REGULATED BY THE BOARD
for any one or any combination of
the following causes:
(1) Fraud or deceit in registering as a public accounting
OBTAINING A firm, REGISTRATION OR in obtaining a
CPA
certificate as a certified public
accountant, or in obtaining a permit to practice accounting
pursuant to sections 4701.02 to 4701.19 of the Revised Code, A
PA REGISTRATION, AN OHIO PERMIT, OR AN OHIO
REGISTRATION;
(2) Dishonesty, fraud, or gross negligence in the practice
of public accounting;
(3) Violation of any of the provisions of section 4701.14
of the Revised Code;
(4) Violation of a rule of professional conduct
promulgated by the board under the authority granted by sections
4701.02 to 4701.22 of the Revised Code THIS CHAPTER;
(5) Conviction of a felony under the laws of any state or
of the United States;
(6) Conviction of any crime, an element of which is
dishonesty or fraud, under the laws of any state or of the United
States;
(7) Cancellation, revocation, suspension, or refusal to
renew authority to practice as a certified public accountant, a
public accountant, or a public accounting firm by any other
state, for any cause other than failure to pay registration fees
in such THAT other state;
(8) Suspension or revocation of the right to practice
before any state or federal agency;
(9) Failure of a certified public accountant or public
accountant HOLDER OF A CPA CERTIFICATE OR PA
REGISTRATION to obtain the AN OHIO permit
required by section 4701.10 of
the Revised Code OR AN OHIO REGISTRATION, or THE
failure of a public accounting firm to
register with the board pursuant to section 4701.04 of the
Revised Code OBTAIN A FIRM REGISTRATION;
(10) Conduct discreditable to the public accounting
profession OR TO THE HOLDER OF AN OHIO PERMIT, OHIO
REGISTRATION, OR FOREIGN CERTIFICATE;
(11) FAILURE OF A PUBLIC ACCOUNTING FIRM TO COMPLY WITH SECTION
4701.04 of the Revised Code.
(B) For any of the reasons specified in division (A) of
this section, the board may DO ANY OF THE FOLLOWING:
(1) Revoke or, suspend, OR REFUSE TO RENEW any
CPA certificate issued under section
4701.06 or 4701.061 of the Revised Code OR PA
REGISTRATION or any registration
granted under section 4701.04 or 4701.07 of the Revised Code
OHIO PERMIT, OHIO REGISTRATION, OR FIRM REGISTRATION;
(2) Revoke, suspend, or refuse to renew any permit issued
under section 4701.10 of the Revised Code
DISQUALIFY A PERSON WHO IS NOT A HOLDER OF AN
OHIO PERMIT OR A
FOREIGN CERTIFICATE FROM OWNING AN EQUITY INTEREST IN A PUBLIC
ACCOUNTING FIRM OR QUALIFIED FIRM;
(3) Publicly censure a registrant REGISTERED FIRM or A
holder of
a
CPA certificate, A
PA REGISTRATION, AN
OHIO PERMIT, OR AN
OHIO REGISTRATION;
(4) Levy
AGAINST A REGISTERED FIRM OR A HOLDER OF A
CPA CERTIFICATE, A
PA REGISTRATION, AN
OHIO PERMIT, OR AN
OHIO REGISTRATION
a penalty OR fine not to exceed one thousand dollars
for each offense. Any fine shall be reasonable and in relation
to the severity of the offense.
(5) In the case of violations of division (A)(2) or (4) of
this section, require completion of remedial continuing education
programs prescribed by the board in addition to those required by
section 4701.11 of the Revised Code;
(6) In the case of violations of division (A)(2) or (4) of
this section, require the HOLDER OF A CPA certificate
holder or registrant, PA REGISTRATION, OR FIRM
REGISTRATION to
submit to a quality PEER review by a professional committee
designated
by the board, which committee shall report to the board
concerning the certificate holder's or registrant's THAT
HOLDER'S compliance
with generally accepted accounting principles or, GENERALLY
ACCEPTED auditing
standards, OR OTHER GENERALLY ACCEPTED TECHNICAL STANDARDS;
(7) REVOKE OR SUSPEND THE PRIVILEGES TO OFFER OR RENDER ATTEST SERVICES IN
THIS STATE OR TO USE A CPA TITLE OR DESIGNATION IN THIS STATE OF AN
INDIVIDUAL WHO HOLDS A FOREIGN CERTIFICATE.
(C) Where IF the board levies a fine against or suspends the
certificate of a person or registration of a person or firm for a
violation of division (A)(2) or (4) of this section, it may waive
all or any portion of the fine or suspension where IF the
HOLDER OF THE CPA certificate holder or
registrant, PA REGISTRATION, OR FIRM REGISTRATION
complies fully with division
(B)(5) or (6) of this section.
Sec. 4701.19. (A) All statements, records, schedules,
working papers, and memoranda made by a certified public
accountant or public accountant incident to or in the course of
professional service to clients by the accountant, except reports
submitted by a certified public accountant or public accountant
to a client, shall be and remain the property of the accountant,
in the absence of an express agreement between the accountant and
the client to the contrary. No such statement, record, schedule,
working paper, or memorandum OF THAT NATURE shall be sold, transferred,
or
bequeathed, without the consent of the client or his THE
CLIENT'S personal representative or assignee, to anyone
ANY PERSON other than one or
more surviving partners or new partners of the accountant.
(B) The statements, records, schedules, working papers,
and memoranda made by a certified public accountant or public
accountant incident to or in the course of performing an audit of
a public office or private entity, except reports submitted by
the accountant to the client, are not a public record as
defined. STATEMENTS, RECORDS, SCHEDULES, WORKING PAPERS, AND
MEMORANDA THAT ARE SO MADE IN AN AUDIT BY A CERTIFIED PUBLIC ACCOUNTANT OR
PUBLIC ACCOUNTANT AND THAT ARE IN THE POSSESSION OF THE AUDITOR OF STATE ALSO
ARE NOT A PUBLIC RECORD. AS USED IN THIS DIVISION, "PUBLIC RECORD" HAS THE
SAME MEANING AS
in section 149.43 of the Revised Code.
Sec. 4701.29. (A) THE ACCOUNTANCY BOARD MAY
INVESTIGATE WHETHER A PERSON HAS VIOLATED ANY PROVISION OF THIS
CHAPTER OR RULE ADOPTED UNDER IT BEFORE COMMENCING A
DISCIPLINARY PROCEEDING PURSUANT TO SECTION 4701.16 OF THE
REVISED CODE OR TAKING LEGAL ACTION
PURSUANT TO SECTION 4701.18 OF THE
REVISED CODE. AN INVESTIGATION UNDER
THIS SECTION IS NOT SUBJECT TO
CHAPTER 119. OF THE
REVISED
CODE.
THE BOARD MAY APPOINT A COMMITTEE OF BOARD MEMBERS OR
STAFF EMPLOYED BY THE BOARD TO CONDUCT AN INVESTIGATION.
NOTWITHSTANDING ANY STATUTE OR RULE TO THE CONTRARY, A BOARD
MEMBER WHO PARTICIPATES IN AN INVESTIGATION MAY
PARTICIPATE ACTIVELY IN ANY HEARING OR PROCEEDING TO THE
SAME EXTENT AS A BOARD MEMBER WHO DID NOT PARTICIPATE IN THE
INVESTIGATION.
(B) DURING AN
INVESTIGATION, THE BOARD MAY ADMINISTER OATHS, ORDER THE TAKING
OF DEPOSITIONS, ISSUE SUBPOENAS, COMPEL THE ATTENDANCE AND
TESTIMONY OF A PERSON AT A DEPOSITION, AND COMPEL THE PRODUCTION
OF ANY FORM OF DOCUMENTARY EVIDENCE OR RECORD. SUBPOENAS AND
ORDERS TO COMPEL UNDER THIS SECTION MAY BE SERVED BY A DESIGNEE
OF THE BOARD OR BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE RESIDENCE
OR PLACE OF
BUSINESS OF THE INDIVIDUAL, PROFESSIONAL ASSOCIATION, FIRM, CORPORATION,
PARTNERSHIP, SOLE
PROPRIETORSHIP, LIMITED LIABILITY COMPANY, OR OTHER BUSINESS ORGANIZATION
NAMED
IN THE SUBPOENA OR ORDER.
(C)(1) ANY WITNESS WHO
APPEARS IN RESPONSE TO A SUBPOENA OF THE BOARD MAY REQUEST, AND
SHALL RECEIVE WITHIN A REASONABLE TIME AFTER MAKING THE REQUEST,
THE FEES AND MILEAGE PROVIDED FOR WITNESSES IN CIVIL CASES IN
THE COURTS OF COMMON PLEAS IN THIS STATE.
(2) IF A PERSON FAILS TO COMPLY WITH A SUBPOENA OR ORDER
ISSUED BY THE BOARD UNDER THIS SECTION, THE BOARD MAY
APPLY TO THE FRANKLIN COUNTY
COURT OF COMMON PLEAS FOR AN ORDER COMPELLING COMPLIANCE WITH
THE BOARD'S SUBPOENA OR ORDER. UPON APPLICATION BY THE BOARD
AND UPON EVIDENCE OF THE PERSON'S FAILURE TO COMPLY, THE COURT
SHALL COMPEL THE APPEARANCE OF THE PERSONS OR THE PRODUCTION OF
THE DOCUMENTS NAMED IN THE BOARD'S SUBPOENA OR ORDER IN
ACCORDANCE WITH THE RULES OF
CIVIL
PROCEDURE. THE COURT ALSO MAY
ISSUE ANY CONTEMPT CITATION AND SANCTION THE COURT DEEMS
APPROPRIATE.
(D) THE INVESTIGATIVE
PROCEEDINGS OF THE BOARD UNDER THIS SECTION ARE NOT A PUBLIC
RECORD UNDER SECTION 149.43 of the Revised Code, ARE CONFIDENTIAL, AND ARE NOT SUBJECT TO
DISCOVERY IN
ANY CIVIL OR ADMINISTRATIVE ACTION OR PROCEEDING.
Section 2. That existing sections 1111.01, 2925.01, 4701.01, 4701.04, 4701.06,
4701.061, 4701.07, 4701.10, 4701.11, 4701.12, 4701.13, 4701.14, 4701.16, and
4701.19 of
the Revised
Code are hereby repealed.
Section 3. Section 2925.01 of the Revised Code is presented in this act as a
composite of the section as amended by both Am. Sub. S.B. 66 and Am. Sub. S.B.
117
of the 122nd General Assembly, with the new
language of neither of the acts shown in capital letters. Section 4701.16 of
the
Revised Code is presented in this act
as a composite of the section as amended by both
Am. Sub. S.B. 165 and Am. S.B. 316 of the 119th General Assembly, with the new
language of
neither of the acts shown in capital letters. This is in
recognition of the principle stated in division (B) of section
1.52 of the Revised Code that such amendments are to be
harmonized where not substantively irreconcilable and constitutes
a legislative finding that such is the resulting version in
effect prior to the effective date of this act.
|