Current through all regulations passed and filed through September 16, 2024
(A) All public accounting firms shall pay an
initial registration fee based on the number of certified public accountants employed
by the firm:
(1)
A public accounting firm that employs up to four Ohio
permit holders shall pay an initial registration fee of thirty
dollars.
(2)
A public accounting firm that employs five to nine Ohio
permit holders shall pay an initial registration fee of ninety
dollars.
(3)
A public accounting firm that employs ten or more Ohio
permit holders shall pay an initial registration fee of one hundred eighty
dollars.
(B)
All public accounting firms shall pay a renewal fee
based on the number of certified public accountants employed by the firm:
(1)
A public
accounting firm that employs up to four Ohio permit holders shall pay a renewal
fee of ninety dollars.
(2)
A public accounting firm that employs five to nine Ohio
permit holders shall pay a renewal fee of one hundred eighty
dollars.
(3)
A public accounting firm that employs ten or more Ohio
permit holders shall pay a renewal fee of three hundred sixty
dollars.
(C) Any public
accounting firm, business or CPA permit holder that performs or offers to
perform services or engagements which result in the issuance of an attest
report must notify the board of this fact within ninety days of the initial
engagement agreement date and register with the board as a peer review firm
pursuant to section 4701.04 of the Revised
Code.
(D) Any business or CPA
permit holder that does not perform any engagements which result in the
issuance of an attest report and is exempt from peer review requirements; and
that assumes or uses the titles or designations "certified public accountant"
or "public accountant," or the abbreviations "CPA" or "PA," must register as a
tax/consulting firm with the board and obtain a firm registration.
(E) A
holder of a CPA permit who does not advertise or hold out to the public using
the titles or designations "certified public accountant" or "public
accountant," or the abbreviations "CPA" or "PA," may voluntarily register with
the board and obtain a tax/consulting firm registration.
(F)
The renewal deadlines for registration of public accounting firms are as
follows:
(1) A public accounting firm that
performs or offers to perform engagements subject to peer review must renew its
firm registration by October thirty-first of the year assigned by the board to
the firm. The firm must submit to the board all required firm registration
renewal information by that date, including documentation of an approved peer
review not previously submitted to the board.
(2) A public accounting firm that does not
perform any engagement subject to peer review, and that uses the designation
"certified public accountant," the abbreviation "CPA," "public accountant," or
the abbreviation "PA" must renew its firm registration by August thirty-first
of the year assigned by the board to the firm. The firm must submit to the
board all required firm registration renewal documentation by that
date.
(G) A conditional firm
registration may be issued to a public accounting firm that submits a
conditional acceptance letter issued by the peer review committee, with final
approval of the peer review subject to completion of one or more requirements
as outlined in the conditional acceptance letter. The firm must provide to the
board a completion letter issued by the peer review committee within thirty
days of the completion date set in the conditional acceptance letter, or the
conditional firm registration will expire.
(H) A public accounting
firm that does not comply with the requirements in paragraph (E)(1), (E)(2), or
(F) of this rule shall be considered in violation of divisions (A)(9) and
(A)(11) of section 4701.16 of the Revised Code and
may be subject to disciplinary action in accordance with division (B) of that
section. In addition, the firm shall be assessed a penalty fee based upon the
number of licensees in the firm. The amount of the penalty fee shall be
determined as follows:
(1) A public accounting
firm that performs engagements subject to peer review, and employs up to four
Ohio permit holders or foreign certificate holders, shall pay a penalty fee of
one hundred fifty dollars. The penalty fee will increase to three hundred
dollars on February first of the following year the firm's registration renewal
was due.
(2) A public accounting
firm that performs engagements subject to peer review, and employs five to nine
Ohio permit holders or foreign certificate holders, shall pay a penalty fee of
three hundred sixty dollars. The penalty fee will increase to seven hundred
dollars on February first of the following year the firm's registration renewal
was due.
(3) A public accounting
firm that performs engagements subject to peer review, and employs ten or more
Ohio permit holders or foreign certificate holders, shall pay a penalty fee of
nine hundred dollars. The penalty fee will increase to one thousand eight
hundred dollars on February first of the following year the firm's registration
renewal was due.
(4) A public
accounting firm that does not perform engagements subject to peer review, and
employs up to four Ohio permit holders or foreign certificate holders, shall
pay a penalty fee of one hundred fifty dollars. The penalty fee will increase
to three hundred dollars on December first of the year the firm's registration
renewal is due.
(5) A public
accounting firm that does not perform engagements subject to peer review, and
employs five to nine Ohio permit holders or foreign certificate holders, shall
pay a penalty fee of three hundred sixty dollars. The penalty fee will increase
to seven hundred dollars on December first of the year the firm's registration
renewal is due.
(6) A public
accounting firm that does not perform engagements subject to peer review, and
employs ten or more Ohio permit holders or foreign certificate holders, shall
pay a penalty fee of nine hundred dollars. The penalty fee will increase to one
thousand eight hundred dollars on December first of the year the firm's
registration renewal is due.
