South Carolina Code of Regulations
1-05 - Firm registration, resident managers, firm names.

Universal Citation: SC Code Regs 1-05

1-05. Firm registration, resident managers, firm names.

A. Firm registration requirements.

1. A firm with an office in this State, providing attest or compilation services, or using in its business name the title, ''Certified Public Accountants'', ''Public Accountants'', ''Accounting Practitioners'', or the abbreviation ''CPAs'', ''PAs'', or ''APs'', or using any other title, designation, words, letters, abbreviation, sign, card or device indicating the firm is a CPA firm or an Accounting Practitioner firm, must be registered with the Board.

2. A firm that does not have an office in this State but performs attest services described in Section 40-2-20(2)(a)(audits), (c)(examinations), or (d)(services under PCAOB Auditing Standards) for a client having a home office in this State, must be registered with the Board.

3. A licensee who does not perform services or use his or her title as described in 1-05(A)(1) is not required to obtain a firm registration.

4. A licensee may use the CPA, PA, or AP title in accordance with his or her licensure with his or her personal name.

B. There must be a designated resident manager in charge of each firm office in this State. The designated resident manager must be licensed by this Board and is responsible for office compliance with established professional standards including standards set by federal or state law or regulation.

C. A firm must not use a misleading firm name.

1. Former partners' names may be included in a firm name only if the former partner continues practicing public accounting with that firm, no longer practices public accounting, or is deceased.

2. A firm name shall not include the name or names of non-licensed owners.

3. The Board shall determine if a firm name is misleading and therefore prohibited, and all firm names are subject to Board approval.

HISTORY: Added by State Register Volume 31, Issue No. 5, eff May 25, 2007. Amended by State Register Volume 34, Issue No. 6, eff June 25, 2010; SCSR 44-6 Doc. No. 4923, eff June 26, 2020.

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