Current through Register Vol. 46, No. 12, March 20, 2024
(a) Pursuant to
the provisions of Education Law section 7408, a firm shall register with the
department if:
(1) the firm is established
for the business purpose of lawfully engaging in the practice of public
accountancy pursuant to Education Law section 7401(1) and (2); or
(2) except as otherwise provided in section
70.7(a)(2)
of this Part, the firm uses the title "CPA" or "CPA firm" or the title "PA" or
"PA firm."
(b) A firm of
certified public accountants or public accountants engaged in the practice of
public accountancy pursuant to Education Law section 7401(3), that does not use
the title "CPA" or "CPA firm" or the title "PA" or "PA firm" and does not
engage in the practice of public accountancy pursuant to Education Law section
7401(1) and (2), may register with the department under this section.
(c) An application for registration of a firm
shall include:
(1) a list of all offices
within this State, including the name of the person(s) in charge of such
offices;
(2) a list of all states
in which the firm has applied for or holds registrations, licenses, or permits
as a public accounting firm;
(3) a
list of any past denial, revocation, or suspension of a license, registration
or permit by any other state or jurisdiction within the last three
years;
(4) a list of all partners,
owners or shareholders of the firm, including state(s) of licensure;
(5) a list of all certified public
accountants or public accountants whose principal place of business is New York
or who are otherwise authorized to practice in New York and who are responsible
for supervising attest or compilation services or signing or authorizing
someone to sign the accountant's report on financial statements on behalf of
the firm;
(6) affirmation by the
firm that the individuals listed pursuant to paragraph (5) of this subdivision
meet the following competency requirements set forth in section
29.10(a)(13)
of this Title;
(7) confirmation
acceptable to the department that the firm is appropriately authorized to do
business in New York State;
(8)
confirmation acceptable to the department that at least one partner of a
partnership or limited liability partnership, member of a limited liability
company or shareholder of a professional service corporation or the sole
proprietor who is licensed or otherwise authorized to practice under article
149 of the Education Law and that his or her license to practice is not
currently suspended, annulled or revoked in any jurisdiction and he or she is
regularly engaged in practice on behalf of the firm within the State;
(9) affirmation that the firm has not
violated the provisions of article 149 of the Education Law, any other
applicable laws and such other requirements that the department may impose;
and
(10) payment of a firm
registration fee pursuant to subdivision (d) of this section.
(d) The fee for a firm
registration shall be:
(1) $50 for each
office of the firm located in New York State or $50 for the firm if the firm
has no offices located in New York; and
(2) $10 for the sole proprietor or each
general partner of a partnership or partner of a limited liability partnership,
member of a limited liability company or shareholder of a professional service
corporation whose principal place of business is located in New York and for
each certified public accountant or public accountant licensed in New York
State that signs or authorizes someone to sign an engagement on behalf of a New
York State client but whose principal place of business is not located in New
York State. Any firm that registers with the department pursuant to the
provisions of Education Law section 7408, but does not have a sole proprietor
or a general partner of a partnership or a partner of a limited liability
partnership, or a member of a limited liability company or a shareholder of a
professional service whose principal place of business is in New York State,
shall pay $10 for the firm.
(e) A firm offering or rendering professional
services via a website shall provide the address of the firm's principal place
of business, the firm's principal state of licensure or registration and a
means to contact the person in charge of the firm regarding complaints,
questions, or regulatory compliance on the firm's homepage of their
website.
(f) In accordance with
Education Law section
7408 and the rules of the Board of Regents,
the Board of Regents may revoke a registration issued under this section or
take other action pursuant to a consent order or surrender of registration, in
the same manner and to the same extent as is provided with respect to
individuals licensed pursuant to article 149 of the Education Law, or pursuant
to a settlement in which the firm neither admits nor denies the allegations of
professional misconduct, or after a hearing conducted in accordance with the
procedures set forth in Education Law section
6510 upon proof of the following:
(1) that the registration was obtained by
either misrepresentation or suppression of any material fact;
(2) that the license or authorization to
practice of any sole proprietor, partner of a partnership or limited liability
partnership, member of a limited liability company or shareholder of a
professional service corporation is suspended, annulled or revoked in any
jurisdiction;
(3) that any sole
proprietor, partner of a partnership or limited liability partnership, member
of a limited liability company or shareholder of a professional service
corporation in such firm is or has been engaged in the practice of public
accountancy in this State who is not licensed or otherwise authorized to
practice in this State;
(4) that
the firm failed to file annually on or before the anniversary of the date of
the firm's first registration, written notification of:
(i) any admission of a partner, member or
shareholder;
(ii) any resignation,
termination, retirement or death of a partner, member or shareholder;
(iii) any termination of a firm;
(iv) any change in the number or location of
offices within this State and any change in the identity of the persons in
charge of such offices; or
(v) any
occurrence of any event or events which would eliminate as to such firm
conformity with the applicable requirements of this section.
(5) Effective January 1, 2012, a
firm seeking to re-register with the department shall submit a copy of its most
recently completed peer review report performed in accordance with the
provisions of Education Law section
7410, with its application for
re-registration.
