La. R.S. § 37:77 Firm Permits to Practice; Attest Experience; Peer Review; Exceptions

• Library: Louisiana Statutes
• Edition: 2023
• Currency: Current with changes from the 2023 Legislative Session
• Year: 2023
• Citation: La. R.S. § 37:77

A. The board shall grant or renew permits to practice as a CPA firm to applicants who submit an application and demonstrate their qualifications in accordance with this Section. Any firm which has or establishes an office or a place of business in Louisiana from which to offer or perform professional services shall hold a permit issued pursuant to this Section in order to provide attest services or to use the title "CPA", "CPAs", "CPA firm", or "firm of Certified Public Accountants". A CPA firm that does not have an office or a place of business in Louisiana, but provides attest services in this state shall hold a permit issued pursuant to this Section unless it meets each of the following requirements:

(1) Compliance with the qualifications described in Subsection C of this Section.

(2) Compliance with the qualifications described in Subsection G of this Section.

(3) It performs such services through an individual with practice privileges as provided in R.S. 37:94.

(4) It can lawfully perform such services in the state where the individuals with practice privileges have their respective principal place of business.

B.

(1) Permits shall be initially issued and renewed annually. Applications for such permits shall be made in such form, and in the case of applications for renewal between such dates, as the board may specify. The board shall grant or deny any application for initial issuance of a permit no later than one hundred twenty days after the application is filed in proper form. Issuance or renewal of a permit shall not preclude the board from any further investigation and action against such permit or permit holder. Any permit which is not timely renewed with all required information shall expire on the date specified by the board. Any permit which has expired because of nonrenewal may be reinstated by the board upon payment of the renewal fee and any additional fees as may be prescribed by the board provided that the applicant is otherwise qualified for the issuance of a permit as provided in this Part.

(2) Where an applicant seeks the opportunity to show that issuance or renewal of a permit was mistakenly denied or where the board is not able to determine whether the application should be granted or denied, the board may issue a provisional permit to the applicant. Such provisional permit shall expire at the end of one hundred twenty days after its issuance or when the board determines whether or not to issue or renew the permit for which application was made, whichever occurs first.