Current through Reg. 49, No. 38; September 20, 2024
(a) General rules
applicable to all firms:
(1) A firm name may
not contain words, abbreviations or other language that are misleading to the
public, or that may cause confusion to the public as to the legal form or
ownership of the firm.
(2) A firm
licensed by the board may not conduct business, perform or offer to perform
services for or provide products to a client under a name other than the name
in which the firm is licensed.
(3)
A word, abbreviation or other language is presumed to be misleading if it:
(A) is a trade name or assumed name that does
not comply with paragraph (4)(A) or (B) of this subsection;
(B) states or implies the quality of services
offered, special expertise, expectation as to outcomes or favorable results, or
geographic area of service;
(C)
includes the name of a non-owner of the firm;
(D) includes the name of a non-CPA, except as
provided in paragraph (4)(B) of this subsection;
(E) states or implies educational or
professional attainment not supported in fact;
(F) states or implies licensing recognition
for the firm or any of its owners not supported in fact;
(G) includes a designation such as "and
company," "associates," "and associates," "group" or abbreviations thereof or
similar designations implying that the firm has more than one employed licensee
unless there are at least two employed licensees involved in the practice.
Independent contractors are not considered employees under this subsection;
or
(H) includes the designation
"company" when it is a one licensee sole proprietorship.
(4) A word, abbreviation or other language is
presumed not misleading if it:
(A) is the
licensee's full name, the licensee's surname, or full or last initials of one
or more current or former CPA owners of the firm, its predecessor firm or
successor firm;
(B) is the name,
surname, or initials of one or more current or former foreign practitioner
owners of the firm, its predecessor firm or successor firm who are or would
have been eligible to practice public accountancy in this state pursuant to
§901.355 of the Act (relating to Registration for Certain Foreign
Applicants);
(C) indicates the
legal organization of the firm; or
(D) states or implies a limitation on the
type of service offered by the firm, such as "tax," "audit" or "investment
advisory services," provided the firm in fact principally limits its practice
to the type of service indicated in the name.
(5) The board may place conditions on the
licensing of a firm in order to ensure compliance with the provisions of this
section.
(b) Additional
Requirements Based on Legal Form or Ownership.
(1) The names of a corporation, professional
corporation, limited liability partnership, professional limited liability
company or other similar legal forms of ownership must contain the form of
ownership or an abbreviation thereof, such as "Inc.," "P.C.," "L.L.P." or
"P.L.L.C."; except that a limited liability partnership organized before
September 1, 1993 is not required to utilize the words "limited liability
partnership" or any abbreviation thereof.
(2) Sole Proprietorships:
(A) The name of a firm that is a sole
proprietor must contain the surname of the sole proprietor as it appears on the
individual license issued to the sole proprietor by the board.
(B) A partner surviving the death of all
other partners may continue to practice under the partnership name for up to
two years after becoming a sole proprietor, notwithstanding subsection (d) of
this section.
(c) The name of any current or former owner
may not be used in a firm name during any period when such owner is prohibited
from practicing public accountancy and prohibited from using the title
"certified public accountant," "public accountant" or any abbreviation thereof,
unless specifically permitted by the board.
(d) A firm licensed by the board is required
to report to the board any change in the legal organization of the firm and
amend the firm name to comply with this section regarding firm names for the
new organization within thirty days of the effective date of such
change.
(e) This section regarding
firm names does not affect firms licensed by the board prior to the effective
date of this section, but does apply to any change in legal organization or
name that occurs after the effective date of this section. Nothing in this
subsection prohibits the board from placing conditions on the licensing of a
firm pursuant to subsection (a)(5) of this section at the time of renewal of
the firm license.
