Title 30: Mississippi State Board of Public Accountancy
Part 1: Rules and Regulations of the Mississippi State Board of Public Accountancy
Foreword
The Board is charged with the duty of adopting and enforcing rules and regulations necessary to
maintain the highest standard of proficiency in the practice of public accounting for the
protection of the public interest. The Board’s mission is to protect the public welfare of the
citizens of the State of Mississippi, and therefore the State’s commerce, through its oversight of
certified public accountants and CPA firms. The State Board provides oversight of CPAs and
CPA firms through its regulation, testing, certification, licensing, qualification and standards
setting, monitoring and investigations as established by the Act and these regulations.
The Mississippi State Board of Public Accountancy adopts the Rules and Regulations under the
authority of Title 73, Chapter 33 of the Mississippi Code of 1972, as amended. The purpose of
the Rules and Regulations is to promote and protect the public interest, providing specific
requirements necessary to properly administer the Mississippi accountancy statutes regulating
certified public accountants.
The Rules and Regulations are binding upon every individual registering and holding a
certificate as certified public accountant (CPA). Each CPA is charged with possessing
knowledge and understanding of, and maintaining compliance with, the Mississippi accountancy
statutes and the Rules and Regulations.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Rules and Regulations of the Mississippi State Board of Public Accountancy
Foreword
The Board is charged with the duty of adopting and enforcing rules and regulations necessary to
maintain the highest standard of proficiency in the practice of public accounting for the
protection of the public interest. The Board’s mission is to protect the public welfare of the
citizens of the State of Mississippi, and therefore the State’s commerce, through its oversight of
certified public accountants and CPA firms. The State Board provides oversight of CPAs and
CPA firms through its regulation, testing, certification, licensing, qualification and standards
setting, monitoring and investigations as established by the Act and these regulations.
The Mississippi State Board of Public Accountancy adopts the Rules and Regulations under the
authority of Title 73, Chapter 33 of the Mississippi Code of 1972, as amended. The purpose of
the Rules and Regulations is to promote and protect the public interest, providing specific
requirements necessary to properly administer the Mississippi accountancy statutes regulating
certified public accountants.
The Rules and Regulations are binding upon every individual registering and holding a
certificate as certified public accountant (CPA). Each CPA is charged with possessing
knowledge and understanding of, and maintaining compliance with, the Mississippi accountancy
statutes and the Rules and Regulations.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 1: Restrictions on Use of the Title Certified Public Accountant
Rule 1.1. Restrictions
Rule 1.1. The use of the title of certified public accountant (including any letters,
abbreviations or words indicating such title) is restricted to persons who are
licensed as referenced in §73-33-1 and have not had their licenses and/or
registration of such license suspended, revoked, or canceled.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 1: Restrictions on Use of the Title Certified Public Accountant
Rule 1.1. Restrictions
Rule 1.1. The use of the title of certified public accountant (including any letters,
abbreviations or words indicating such title) is restricted to persons who: are
licensed as referenced in §73-33-1 and
(a) Are Mississippi residents, or have a place for the regular transaction of business
in Mississippi and have received from the Board a valid license; or
(b) Have received from the Board a valid reciprocal license in accordance with the
act and regulations thereunder, or qualifies for a practice privilege pursuant to
Section 73-33-17 of the Mississippi Code of 1972, as amended; and
(c) Have complied with all sections of the act and regulations thereunder; and
(d) Hhave not had their licenses and/or registration of such license suspended,
revoked, or canceled.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.1. Requirements
Rule 2.1.3. The Board shall issue a license to applicants who have complied with all the
Board’s requirements, including education, examination, and experience.
(a) Experience Requirements: In satisfaction of experience requirements, the
applicant must submit substantiating written statements, in such form as the
Board shall require, from employers or others who have actual knowledge of
such facts.
(1) Qualifying experience requirements as stated below shall be experience
during the three years immediately preceding the date the application for
the license is filed with the Board. If the candidate does not meet the
experience requirement and make application for licensure within the
three year period, all previous CPA examination credits earned will
expire, and all parts of the CPA examination must be retaken under the
requirements of Rule 2.2. CPA examination.
(2) Qualifying experience shall mean a minimum of 2,000 hours of
experience gained by full or part-time employment under the supervision
and direction of a CPA or the equivalent when considered by the Board in
the aggregate.
(3) The practical experience of an applicant for licensure must be meaningful
with respect to qualifying the applicant for the practice of public
accounting. An applicant shall show that he or she provided one or more
kinds of services involving the use of accounting or auditing skills,
including but not limited to the issuance of reports on financial statements,
or one or more kinds of management advisory, financial advisory, or
consulting services, or the preparation of tax returns or the furnishing of
advice on tax matters, or the equivalent, all of which are under the
direction of a CPA licensee, meeting requirements prescribed by the
Board by rule.
(4) The Board reserves the option of reviewing the work papers, reports, and
time records for work submitted for credit as qualifying experience. The
Board may require interviews with applicants.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.1. Requirements
Rule 2.1.3. The Board shall issue a license to applicants who have complied with all of the
Board’s requirements, including experience, continuing professional education
(CPE), and professional ethics education, examination, and experience.
(a) Experience Requirements: In satisfaction of experience requirements, the
applicant must submit substantiating written statements, in such form as the
Board shall require, from employers or others who have actual knowledge of
such facts.
(1) Qualifying experience requirements as stated below shall be experience
during the three years immediately preceding the date the application for
the license is filed with the Board. If the candidate does not meet the
experience requirement and make application for licensure within the
three year period, all previous CPA examination credits earned will expire,
and all parts of the CPA examination must be retaken under the
requirements of Rule 2.2. CPA examination.
(2) Qualifying experience shall mean a minimum of one year 2,000 hours of
experience gained by full-time or part-time employment under the
supervision and direction of a CPA or the equivalent when considered by
the Board in the aggregate.
(3) The practical experience of an applicant for licensure must be meaningful
with respect to qualifying the applicant for the practice of public
accounting. An applicant shall show that he or she provided one or more
kinds of services involving the use of accounting or auditing skills,
including but not limited to the issuance of reports on financial statements,
or one or more kinds of management advisory, financial advisory, or
consulting services, or the preparation of tax returns or the furnishing of
advice on tax matters, or the equivalent, all of which are under the
direction of a CPA licensee, meeting requirements prescribed by the
Board by rule.
(4) The Board reserves the option of reviewing the work papers, reports, and
time records for work submitted for credit as qualifying experience. The
Board may require interviews with applicants. Inspections and interviews
may be on a selective or a random basis.
(5) Experience submitted to the Board by an applicant not meeting the
requirements set forth above, when evaluated by the State Board of Public
Accountancy in the aggregate, may be considered equivalent to the
requirements set out above.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.1. Requirements
Rule 2.1.4. Other Requirements
The Board reserves the right to require applicants for licensure to provide evidence
of good moral character including, but not limited to, a Board initiated background
and criminal check.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.1. Requirements
Rule 2.1.4. Other Requirements
(a) The Board reserves the right to require applicants for licensure to successfully
complete a written examination, a Board approved ethics course of comprehensive
study, and/or an examination of the Rules and Regulations promulgated by the
Board.
(b) The Board reserves the right to require applicants for licensure to provide
evidence of good moral character including, but not limited to, a Board initiated
background and criminal check.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.2. CPA Examination
Rule 2.2.1. Examinee Qualifications: The CPA examination as required by the Public
Accountancy Act is to determine minimum competency of an individual for
licensure purposes. The CPA examination shall test the knowledge and skills
required for performance as an entry-level certified public accountant. The
examination shall include the subject areas of accounting and auditing and related
knowledge and skills as the Board may require. In accordance with Rule 2.1. of
these Rules and Regulations, an applicant for a CPA license must pass the CPA
examination in addition to other licensure requirements. Candidates for the CPA
examination must satisfy the following requirements to qualify to sit for the CPA
examination as a Mississippi candidate:
(a) Educational Requirement: Candidates who first sit for the CPA examination
on or after July 1, 2016, must have completed at least 120 semester hours of
college education including a baccalaureate or higher degree conferred by an
accredited four-year college or university or the equivalent acceptable to the
Board, with an accounting concentration determined by Board rule to be
appropriate.
(1) Accreditation acceptable to the Board shall be by one of the following
accrediting agencies or its successor:
a. For the accounting program or business school, accreditation by
the Association to Advance Collegiate Schools of Business –
International (AACSB), or
b. For colleges or universities without AACSB accreditation,
accreditation by one of the following regional accrediting
agencies or its successor:
i. Middle States Association of Colleges and Schools; Middle
States Commission on Higher Education
ii. The Commission on Institutions of Higher Education of The
New England Association of Schools and Colleges
iii. North Central Association of Colleges Schools – The Higher
Learning Commission
iv. Northwest Commission on Colleges and Universities
v. Southern Association of Colleges and Schools Commission on
Colleges
vi. Western Association of Schools and Colleges Accrediting
Commission for Senior Colleges and Universities
(2) Accounting Concentration: The candidate shall be determined to have
the equivalent of an accounting concentration if he has at least 48
semester hours of upper division or graduate level accounting and
business related courses as approved by the Board at an accredited four-
year college or university with a minimum of 24 semester hours of
accounting at the upper division or graduate level, including a
minimum of 3 semester hours each in courses covering the following
subjects:
a. financial accounting
b. auditing
c. taxation
d. accounting information systems
(3) The educational requirements must be completed before the candidate
first applies to take the examination.
(4) Credit for hours taken at accredited colleges and universities using the
quarter system shall be counted as ⅔ of a semester hour for each hour
of credit received under the quarter system.
(b) Residency: The candidate must be a resident of the State of Mississippi.
Residency shall be determined by the Board based on all of the facts and
circumstances of each individual case. Factors normally considered by the
Board in determining residency are as follows:
(1) Place of registration as a voter
(2) Vehicle registration and tags
(3) Filing of Mississippi State Resident Income Tax Returns
(4) Qualifying for Homestead Exemption in Mississippi and payment of
real estate taxes to this state, and/or
(5) Graduation from a Mississippi university or college
(c) Good Moral Character: As the passing of the CPA examination is the initial
qualification to licensure, a candidate must be able to demonstrate that he
possesses good moral character in order to qualify to sit for the examination.
In evaluating good moral character, the Board shall consider a candidate’s
criminal record including but not limited to felony convictions or pleas;
discipline before state, local or federal jurisdictions; and other documents
and/or records determined appropriate in the circumstance.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.2. CPA Examination
Rule 2.2.1. Examinee Qualifications: The CPA examination as required by the Public
Accountancy Act is to determine minimum competency of an individual for
licensure purposes. The CPA examination shall test the knowledge and skills
required for performance as an entry-level certified public accountant. The
examination shall include the subject areas of accounting and auditing and related
knowledge and skills as the Board may require. In accordance with Rule 2.1. of
these Rules and Regulations, an applicant for a CPA license must pass the CPA
examination in addition to other licensure requirements. Candidates for the CPA
examination must satisfy the following requirements to qualify to sit for the CPA
examination as a Mississippi candidate:
(a) Educational Requirement: Candidates who first sit for the CPA examination
on or after July 1, 2016, must have completed at least 120 semester hours of
college education including a baccalaureate or higher degree conferred by an
accredited four-year college or university or the equivalent acceptable to the
Board, with an accounting concentration determined by Board rule to be
appropriate.
(1) Accreditation acceptable to the Board shall be by one of the following
accrediting agencies or its successor:
a. For the accounting program or business school, accreditation by
the Association to Advance Collegiate Schools of Business –
International (AACSB), or
b. For colleges or universities without AACSB accreditation,
accreditation by one of the following regional accrediting
agencies or its successor:
i. Middle States Association of Colleges and Schools; Middle
States Commission on Higher Education
ii. The Commission on Institutions of Higher Education of The
New England Association of Schools and Colleges
iii. North Central Association of Colleges Schools – The Higher
Learning Commission
iv. Northwest Commission on Colleges and Universities
v. Southern Association of Colleges and Schools Commission on
Colleges
vi. Western Association of Schools and Colleges Accrediting
Commission for Senior Colleges and Universities
(2) Accounting Concentration: The candidate shall be determined to have
the equivalent of an accounting concentration if he has at least 48
semester hours of upper division or graduate level accounting and
business related courses as approved by the Board at an accredited four-
year college or university with a minimum of 24 semester hours of
accounting at the upper division or graduate level, including a
minimum of 3 semester hours each in courses covering the following
subjects:
a. financial accounting
b. auditing
c. taxation
d. management/cost accounting
e. government/not-for-profit accounting
d. accounting information systems
(3) The educational requirements must be completed before the candidate
first applies to take the examination.
(4) Credit for hours taken at accredited colleges and universities using the
quarter system shall be counted as ⅔ of a semester hour for each hour
of credit received under the quarter system.
(b) Residency: The candidate must be a resident of the State of Mississippi.
Residency shall be determined by the Board based on all of the facts and
circumstances of each individual case. Factors normally considered by the
Board in determining residency are as follows:
(1) Place of registration as a voter
(2) Vehicle registration and tags
(3) Filing of Mississippi State Resident Income Tax Returns
(4) Qualifying for Homestead Exemption in Mississippi and payment of
real estate taxes to this state, and/or
(5) Graduation from a Mississippi university or college
(c) Good Moral Character: As the passing of the CPA examination is the initial
qualification to licensure, a candidate must be able to demonstrate that he
possesses good moral character in order to qualify to sit for the examination.
In evaluating good moral character, the Board shall consider a candidate’s
criminal record including but not limited to felony convictions or pleas;
discipline before state, local or federal jurisdictions; and other documents
and/or records determined appropriate in the circumstance.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.2. CPA Examination
Rule 2.2.10. Examination Grades, Conditioning, Reexamination:
(a) The Board shall notify CPA examination candidates in writing of examination
results. The passing grade for each test is 75.
(b) The Board may use the Uniform CPA Examination and advisory grading
service and may rely solely upon grades assigned to that examination by the
administering entity.
(c) A candidate may take the required test sections individually and in any order.
Credit for passing any test section shall be valid for that test section for thirty
(30) months from the date the passing score for such test section is released by
NASBA to the candidate or the Board, as the case may be, regardless of the
number of test sections taken or having to attain a minimum score on any
failed section(s).
(1) A candidate shall pass all required test sections within a rolling thirty (30)
month period. The rolling thirty (30) month period begins on the date the
first passing score(s) are released by NASBA to the candidate or the
Board, as the case may be. The rolling thirty (30) month period concludes
on the date the candidate sits for the final test section passed, regardless of
when the score is released by NASBA for the final test section.
(2) A candidate who earns initial credit on one or more test section(s) of the
CPA examination must sit for and complete the remaining required test
section(s) of the examination by midnight local time at the Board’s main
office on the last day of the thirty (30) month period.
(3) If all required test sections are not passed within this initial thirty (30)
month period, credit for the first test section(s) passed shall expire and a
new rolling thirty (30) month period shall begin on the date the second
passing score(s) were released by NASBA to the candidate or the Board,
as the case may be, and continue for thirty (30) months from that date. If
all required test section(s) are not passed within this next rolling thirty (30)
month period, credit for the second test section(s) passed shall expire and
a new rolling thirty (30) month period will begin on the date the next test
section passing score, if any, was released by NASBA to the candidate or
the Board, as the case may be, and this cycle of thirty (30) month rolling
periods and test section credit expirations will continue until all test
sections are passed within one thirty (30) month rolling period.
Notwithstanding the foregoing, if a candidate stops testing for a thirty (30)
month period, then all credit for previously passed test sections will
expire.
(d) A candidate shall not retake a failed test section until the candidate has been
notified of the score for the most recent attempt of that failed test section.
(e) A candidate shall be deemed to have passed the examination if the candidate
obtains credit for passing all required test sections in one rolling thirty (30)
month period.
(f) A candidate shall retain credit for any and all required test sections of the
examination passed as a candidate of another state if such credit would have
been given under then applicable requirements in this State.
(g) Notwithstanding subsection (c), (d), and (e) of this rule, the period of time in
which to pass all required test sections of the examination may be extended by
the Board upon a showing of:
1. Individual hardship including, but not limited to, health; military service; a
disruption at a local, regional, or national level impacting the candidate; or
other circumstances beyond the candidate’s control, or
2. Recommendations of NASBA, AICPA, or other state regulatory authority
for additional extensions of time.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 2: Licenses and Practice Privileges
Rule 2.2. CPA Examination
Rule 2.2.10. Examination Grades, Conditioning, Reexamination:
(a) The Board shall notify CPA examination candidates in writing of examination
results. The passing grade for each test is 75.
(b) The Board may use the Uniform Certified Public Accountant CPA
Examination and advisory grading service and may rely solely upon grades
assigned to that examination papers by that administering entity body.
(c) A candidate may take the required test sections individually and in any order.
Credit for passing any test section(s) passed shall be valid for that test section
for eighteen months (six examination windows as described below) thirty (30)
months from the actual date the passing score for candidate took that such test
section is released by NASBA to the candidate or the Board, as the case may
be, regardless of the number of test sections taken or, without having to attain
a minimum score on any failed test section(s) and without regard to whether
the candidate has taken other test sections.
(1) A candidates must shall pass all four required test sections of the Uniform
CPA Examination within a rolling eighteen-month thirty (30) month
period, which begins on the date that the first test section(s) passed is
taken. The rolling thirty (30) month period begins on the date the first
passing score(s) are released by NASBA to the candidate or the Board, as
the case may be. The rolling thirty (30) month period concludes on the
date the candidate sits for the final test section passed, regardless of when
the score is released by NASBA for the final test section.
(2) A candidate who earns initial credit on one or more test section(s) of the
CPA examination must sit for and complete the remaining required test
section(s) of the examination by midnight local time at the Board’s main
office on the last day of the thirty (30) month period. Rescinded.
(3) Ifn the event all four required test sections of the Uniform CPA
Examination are not passed within thise rolling eighteen-month initial
thirty (30) month period, credit for any the first test section(s) passed shall
expire and a new rolling thirty (30) month period shall begin on the date
the second passing score(s) were released by NASBA to the candidate or
the Board, as the case may be, and continue for thirty (30) months from
that date. If all required test section(s) are not passed within this next
rolling thirty (30) month period, credit for the second test section(s) passed
shall expire and a new rolling thirty (30) month period will begin on the
date the next test section passing score, if any, was released by NASBA to
the candidate or the Board, as the case may be, and this cycle of thirty (30)
month rolling periods and test section credit expirations will continue until
all test sections are passed within one thirty (30) month rolling period.
Notwithstanding the foregoing, if a candidate stops testing for a thirty (30)
month period, then all credit for previously passed test sections will
expire. outside the eighteen-month period will expire and that test
section(s) must be retaken.
(d) The Board may, in particular cases, extend the term of conditional credit
validity notwithstanding the requirements of subsections above, upon a
showing that the credit was lost by reason of circumstances beyond the
candidate’s control. A candidate shall not retake a failed test section until the
candidate has been notified of the score for the most recent attempt of that
failed test section.
(e) A candidate shall be deemed to have passed the Uniform CPA Eexamination
once if the candidate obtains credit for passing all required test sections in one
rolling thirty (30) month period holds at the same time valid credit for passing
each of the four test sections of the examination. For purposes of this rule,
credit for passing a test section of the computer-based examination is valid
from the actual date of the testing event for that test section, regardless of the
date the candidate actually receives notice of the passing grade.
(f) A candidate shall retain credit for any and all required test sections of the
examination passed as a candidate of another state if such credit would have
been given under then applicable requirements in this State.
(g) Notwithstanding subsection (c), (d), and (e) of this rule, the period of time in
which to pass all required test sections of the examination may be extended by
the Board upon a showing of:
1. Individual hardship including, but not limited to, health; military service; a
disruption at a local, regional, or national level impacting the candidate; or
other circumstances beyond the candidate’s control, or
2. Recommendations of NASBA, AICPA, or other state regulatory authority
for additional extensions of time.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.4. Initial Registration (Application): All CPA firms domiciled in Mississippi must
register with the Board as soon as possible, but no later than 30 days after opening
a Mississippi office or beginning a new CPA firm, but in no case shall a CPA firm
engage in the practice of public accounting without a firm permit.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.4. Initial Registration (Application): All CPA firms domiciled in Mississippi must
register with the Board as soon as possible, but no later than 30 days after opening
a Mississippi office or beginning a new CPA firm, but in no case shall a CPA firm
engage in the practice of public accounting without a firm permit. A CPA firm or
office located outside of Mississippi must register the office(s) before holding-
out, offering or performing public accounting.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.5. Annual Registration: In accordance with Mississippi Code of 1972, Section 73-
33-7(3), on or before January 1 of each year, each certified public accountant firm
holding a permit to practice public accounting must register with the Board.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.5. Annual Registration: In accordance with Mississippi Code of 1972, Section 73-
33-7(3), on or before January 1 of each year, each certified public accountant firm
holding a permit to practice public accounting must register with the Board. If any
firm fails to register on or before January 1, notice of such default shall be sent to
the firm by certified mail to the firm’s last known address as shown by the records
of the Board. The permit to practice of any firm who fails to register within ten
(10) days after notice is given shall be automatically canceled, and the board shall
enter the cancellation on its records.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.11. Firm Names.
(a) A CPA firm may not use a CPA firm name unless that name has been registered
with the Board.
(b) It is prohibited for a CPA firm to use any name that is misleading. A misleading
CPA firm name is one which:
(1) Implies the existence of a partnership or registered limited liability
partnership or a professional corporation or professional limited liability
company if the firm is not, in fact, one of those entities;
(2) Includes the name of an individual who is not a CPA if the words
“certified public accountants” or “CPAs” are included in the firm name;
(3) Includes information about or indicates an association with persons who
are not current or former members of the firm, unless the name is that of a
firm network;
(4) Includes the terms “& Company”, “& Associates”, or “Group”, but the
firm does not include, in addition to the named partner, shareholder, owner,
or member, at least one other unnamed partner, shareholder, owner,
member, or staff employee;
(5) Contains any representation that would be likely to cause a reasonable
person to have a false or unjustified expectation of favorable results or
capabilities, including names indicating qualitative superiority or pricing
differences;
(6) Claims or implies the ability to influence a regulatory body or official;
(7) Includes the name of an owner whose license has been revoked for
disciplinary reasons by the Board whereby the licensee has been prohibited
from practicing public accountancy or prohibited from using the title CPA
or holding themselves out as a Certified Public Accountant.
(c) The following is a non-exhaustive list of types of CPA firm names that are not
in and of themselves misleading and are permissible so long as they do not
violate other firm name provisions:
(1) A firm name that includes the names or initials of one or more former
or current owners;
(2) A firm name that excludes the names of one or more former or current
owners;
(3) A firm name that uses the “CPA” title as part of the firm name when all
named individuals are owners of the firm who hold the CPA title or are
former owners who held the CPA title at the time they ceased to be owners
of the firm;
(4) A firm name that includes the name of a non-CPA owner if the words
“certified public accountant” or “CPA” title are not a part of the firm name.
(d) Any CPA firm registered in another jurisdiction that registers a Mississippi firm
permit pursuant to MS Code Section 73-33-17(4), may register and practice
under the name as registered with that jurisdiction provided that the name is not
misleading. If required by Mississippi law, such firm will register to do
business in Mississippi with the Secretary of State under the name registered
with the Board.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 3: CPA Firm Permits
Rule 3.1. General Requirements
Rule 3.1.11. Firm Names.
(a) A firm licensed by the Board may not conduct business, perform or offer to
perform services or provide products under a name other than the name in
which the firm is registered and issued a CPA firm permit. No licensee or firm
permit holder shall engage in the practice of public accountancy using a firm
name which includes any fictitious name, that includes descriptive words
relating to the quality of services offered, indicates specialization or is
misleading as to the legal form of the firm, or about the persons who are
partners, officers, or shareholders of the firm, or about any other matter. A
firm also shall not place any specialty or restricted words sufficiently close to
the firm name to confuse it as part of the firm name.
(b) A foreign firm must comply with the firm names as described herein and be so
registered with the Secretary of State to do business under the acceptable
name, if such registration is required by Mississippi law. As described in Rule
3.1.6. this documentation must be submitted as part of initial or annual
registration with the Board.
(c) No firm will be permitted to register with the Board as a certified public
accounting firm unless the firm name contains the personal name/names,
initials and names, or initials of one or more individuals who are present or
previous CPA owners of the firm. However, a firm name may contain the
name or pertinent part thereof which identifies membership of that firm in an
association or alliance of certified public accounting firms.
(d) The Board will not register two CPA firms under the same name unless there
are different individuals involved with identical surnames.
(e) The name of a non-licensee or non-owner employee may not be used as part
of a CPA firm name.
(f) The CPA firm may continue to use the name of a deceased CPA owner on its
letterhead provided some indication is made which will show the individual is
no longer living.
(g) The name of any former partner, member, or shareholder may not be used in a
registered firm name during the period of sanction when the former partner
member, or shareholder has been prohibited from practicing public
accountancy or prohibited from using the title “CPA”.
(h) Partnership.
(1) If a partner dies or withdraws from a firm and there is no change in the
firm name, the partnership will not be required to again register with the
Board until the next annual registration.
(2) If, for any reason, there is a change in the name of a partnership, it must
file an amendment form prescribed by the Board in accordance with Rule
3.1.10.
(3) A partner surviving the death or withdrawal of all other partners may
continue to practice under a partnership name for up to two years after
becoming a sole practitioner.
(a) A CPA firm may not use a CPA firm name unless that name has been registered with the
Board.
(b) It is prohibited for a CPA firm to use any name that is misleading. A misleading CPA firm
name is one which:
(1) Implies the existence of a partnership or registered limited liability partnership or a
professional corporation or professional limited liability company if the firm is not, in fact,
one of those entities;
(2) Includes the name of an individual who is not a CPA if the words “certified public
accountants” or “CPAs” are included in the firm name;
(3) Includes information about or indicates an association with persons who are not current
or former members of the firm, unless the name is that of a firm network;
(4) Includes the terms “& Company”, “& Associates”, or “Group”, but the firm does not
include, in addition to the named partner, shareholder, owner, or member, at least one other
unnamed partner, shareholder, owner, member, or staff employee;
(5) Contains any representation that would be likely to cause a reasonable person to have
a false or unjustified expectation of favorable results or capabilities, including names
indicating qualitative superiority or pricing differences;
(6) Claims or implies the ability to influence a regulatory body or official;
(7) Includes the name of an owner whose license has been revoked for disciplinary reasons
by the Board whereby the licensee has been prohibited from practicing public accountancy
or prohibited from using the title CPA or holding themselves out as a Certified Public
Accountant.
(c) The following is a non-exhaustive list of types of CPA firm names that are not in and of
themselves misleading and are permissible so long as they do not violate other firm name
provisions:
(1) A firm name that includes the names or initials of one or more former or current owners;
(2) A firm name that excludes the names of one or more former or current owners;
(3) A firm name that uses the “CPA” title as part of the firm name when all named
individuals are owners of the firm who hold the CPA title or are former owners who held
the CPA title at the time they ceased to be owners of the firm;
(4) A firm name that includes the name of a non-CPA owner if the words “certified public
accountant” or “CPA” title are not a part of the firm name.
(d) Any CPA firm registered in another jurisdiction that registers a Mississippi firm permit
pursuant to MS Code Section 73-33-17(4), may register and practice under the name as
registered with that jurisdiction provided that the name is not misleading. If required by
Mississippi law, such firm will register to do business in Mississippi with the Secretary of
State under the name registered with the Board.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.1. To annually renew a CPA license, an individual must complete and report at a
minimum, the 40 CPE credit hours required under this rule accrued during the
applicable compliance & reporting period and on forms prescribed by the Board
by August 1.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.1. To receive a CPA license and to annually renew a CPA license, an individual
must complete and report at a minimum, the 40 CPE credit hours required under
this rule accrued during the applicable compliance & reporting period and on
forms prescribed by the Board by August 1.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.2. All licensees must report a minimum of 40 CPE credit hours within each one year
(twelve month) compliance period ending June 30. Only 20 of the 40 hours may
be from carry-over hours as referred to in Rule 4.1.4.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.2. All licensees must participate in report a minimum of 40 CPE credit hours within
each one year (twelve month) compliance period ending June 30. Only 20 of the
40 hours may be from carry-over hours as referred to in Rule 4.1.4.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.3. A minimum of three (3) CPE credit hours must be earned in a Board approved
Ethics and Professional Conduct course(s) every three years. Also, a minimum of
one (1) CPE credit hour must be earned in a Mississippi Public Accountancy Law
and Regulations course every three years. No carry-over may be used to satisfy
this requirement.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.3. Effective with the triennial period beginning July 1, 2007, a A minimum of three
(3) CPE credit hours must be earned in a Board approved Ethics and Professional
Conduct course(s) every three years. Also, effective with the triennial period
beginning July 1, 2007, a minimum of one (1) CPE credit hour must be earned in
a Mississippi Public Accountancy Law and Regulations course every three years.
No carry-over may be used to satisfy this requirement.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.4. If more than 40 CPE credit hours are accumulated in a one year compliance
period, the excess hours up to a maximum of 20 CPE credit hours may be carried
over and applied to the CPE requirement for the immediately following one year
compliance period.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.4. Effective with the CPE compliance year beginning July 1, 2017, I If more than 40
CPE credit hours are accumulated in a one year compliance period, the excess
hours up to a maximum of 20 CPE credit hours may be carried over and applied
to the CPE requirement for the immediately following one year compliance
period. Existing CPE credit carry over will be limited to 20 hours beginning July
1, 2017.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.5. An initial applicant for a license shall be exempt from earning CPE credit hours
during the compliance period in which he obtains a license and exempt from the
Ethics, Professional Conduct, and Mississippi Public Accountancy Law and
Regulations CPE requirement for the remainder of that triennial compliance
period. There is no provision for carry-over from a compliance period in which
CPE was not required.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.5. An initial applicant for a license shall be exempt from earning CPE credit hours
during the compliance period in which he completes the examination obtains a
license and exempt from the Ethics, Professional Conduct, and Mississippi Public
Accountancy Law and Regulations CPE requirement for the remainingder of that
triennial compliance period. There is no provision for carry-over from a
compliance period in which CPE was not required. However, any CPE hours
earned during that time may be carried forward subject to Rule 4.1.4. In addition,
the individual must satisfy the reporting requirements described in Rule 4.2. even
if the CPE credit hours is zero.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.8. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.1. Compliance Requirements and Reporting
Rule 4.1.8. A former licensee whose license registration has been canceled for failure to
register or canceled voluntarily who makes application for reinstatement must pay
the required fees and penalties and must accrue the minimum CPE credit hours
missed as a result of not being registered, subject to a maximum of 200 CPE
credit hours including the Ethics, Professional Conduct, Public Accountancy Law
and Regulations CPE requirement applicable to the compliance period(s), in lieu
of resitting for the CPA examination, and in accordance with Rule 2.4.,
Reinstatement of a License. A former licensee whose license has been revoked or
suspended may make application for reinstatement in accordance with the
provision of the Trial Board order and shall pay the required fees and penalties
and shall accrue the minimum CPE credit hours missed unless otherwise provided
per the order. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.2. Records
Rule 4.2.1. Maintenance of Records and Control: Each licensee is responsible and must
maintain records of all CPE in which he has participated showing:
(a) Sponsoring organization
(b) Location of course
(c) Title, description of content, and outline (or equivalent)
(d) Instructor(s) with qualifications
(e) Date(s) attended
(f) Contact hours (actual time) by category
(g) Number of credit hours claimed
Credit will be allowed in the compliance period in which the course is completed.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.2. Records and Reporting
Rule 4.2.1. Maintenance of Records and Control: Each licensee is individually responsible
and must maintain records of all CPE in which he has participated showing:
(a) Sponsoring organization
(b) Location of course
(c) Title, description of content, and outline (or equivalent)
(d) Instructor(s) with qualifications
(e) Date(s) attended
(f) Contact hours (actual time) by category
(g) Number of credit hours claimed
Credit will be allowed in the renewal compliance period in which the course is
completed.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.2. Records
Rule 4.2.5. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.2. Records
Rule 4.2.5. A licensee who fails to complete and return the CPE reporting form and fails to
report the minimum required CPE credit hours for the applicable reporting period
will be subject to disciplinary action under Rule 4.5. (relating to Disciplinary
Actions Relating to CPE). Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.3. Qualifying Programs
Rule 4.3.6. A qualifying program may be a group live program which permits a participant to
learn a given subject through interaction with an instructor and other participants
either in a conference or classroom setting. However, subject to the condition that
the subject matter meets the requirements of this rule and the activities maintain
or improve the individual licensee’s professional competence, the following
programs also may qualify for CPE credit hours:
(a) Formal correspondence, other individual self-study programs, and internet
based programs. The Board will only accept the aforementioned programs
from CPE sponsors that are approved by the Quality Assurance Services
(QAS) program of the National Association of State Boards of Accountancy
(NASBA). A licensee claiming credit hours for such courses will be required
to obtain evidence of satisfactory completion of the course from the sponsor.
Credit will be allowed in a compliance period in which the course is
completed with a successful final examination. Independent study is not
allowed. Such as, quizzers or programs requiring only the reading of reference
materials, professional literature, or publications whether or not followed by a
test are not allowable as CPE credit. Studying for examinations not
established as formal programs of study and meeting these requirements are
not allowable as CPE credit.
(b) Published articles and books. CPE credit hours may be claimed for published
articles and books authored directly by the licensee provided they contribute
to the professional competence of the licensee. The request should be
accompanied by a copy of the article(s) or book(s) and an explanation of the
circumstances and the number of hours requested. The amount of credit so
awarded will be determined by the Board. Editing or reviewing another’s
publication is not allowable as CPE credit.
(c) University or college credit courses. Each semester hour credit shall equal
fifteen (15) CPE credit hours toward the requirement. Each quarter hour credit
shall equal ten (10) CPE credit hours.
(d) University or college non-credit short courses. Each classroom hour will equal
one qualifying hour.
(e) Formal organized in-firm education programs. Portions of such meetings
devoted to administrative and firm matters cannot be included.
(f) Programs sponsored by recognized professional organizations such as
government agencies, NASBA, and state societies of CPA’s. Also qualifying
are technical sessions at meetings of such organizations and their chapters.
Additional approved sponsors are those included on the NASBA National
Registry of CPE Sponsors.
(g) Lecturer, instructor or discussion leader. The credit to be granted for service as
a lecturer, instructor or discussion leader of an acceptable formal program will
be equal to the licensee’s preparation time up to twice the number of actual
classroom hours of the lecture or session. However, no additional credit will
be allowed for repetition of the same program. For repeat presentations, CPE
credit can be claimed only if it can be demonstrated that the learning activity
content was substantially changed and such change required significant
additional study or research.
(h) Continuing legal education. A CPA who has a current license to practice as an
attorney and is practicing as an attorney, not in public accounting, may
include toward the Board’s annual CPE requirement programs qualified and
earned for CLE (continuing legal education).
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 4: Continuing Professional Education
Rule 4.3. Qualifying Programs
Rule 4.3.6. A qualifying program may be a group live program which permits a participant to
learn a given subject through interaction with an instructor and other participants
either in a conference or classroom setting. However, subject to the condition that
the subject matter meets the requirements of this rule and the activities maintain
or improve the individual licensee’s professional competence, the following
programs also may qualify for CPE credit hours:
(a) Formal correspondence, other individual self-study programs, and internet
based programs. The Board will only accept the aforementioned programs
from CPE sponsors that are approved by the Quality Assurance Services
(QAS) program of the National Association of State Boards of Accountancy
(NASBA). A licensee claiming credit hours for such courses will be required
to obtain evidence of satisfactory completion of the course from the sponsor.
Credit will be allowed in a compliance period in which the course is
completed with a successful final examination. Independent study is not
allowed. Such as, quizzers or programs requiring only the reading of reference
materials, professional literature, or publications whether or not followed by a
test are not allowable as CPE credit. Studying for examinations not
established as formal programs of study and meeting these requirements are
not allowable as CPE credit.
(b) Published articles and books. CPE credit hours may be claimed for published
articles and books authored directly by the licensee provided they contribute
to the professional competence of the licensee. The request should be
accompanied by a copy of the article(s) or book(s) and an explanation of the
circumstances and the number of hours requested. The amount of credit so
awarded will be determined by the Board. Editing or reviewing another’s
publication is not allowable as CPE credit.
(c) University or college credit courses. Each semester hour credit shall equal
fifteen (15) CPE credit hours toward the requirement. Each quarter hour credit
shall equal ten (10) CPE credit hours.
(d) University or college non-credit short courses. Each classroom hour will equal
one qualifying hour.
(e) Formal organized in-firm education programs. Portions of such meetings
devoted to administrative and firm matters cannot be included.
(f) Programs sponsored by recognized professional organizations such as
government agencies, NASBA, and state societies of CPA’s. Also qualifying
are technical sessions at meetings of such organizations and their chapters.
Additional approved sponsors are those included on the NASBA National
Registry of CPE Sponsors.
(g) Lecturer, instructor or discussion leader. The credit to be granted for service as
a lecturer, instructor or discussion leader of an acceptable formal program will
be equal to the licensee’s preparation time up to twice the number of actual
classroom hours of the lecture or session. However, no additional credit will
be allowed for repetition of the same program. For repeat presentations, CPE
credit can be claimed only if it can be demonstrated that the learning activity
content was substantially changed and such change required significant
additional study or research.
(h) Continuing legal education. A CPA who has a current license to practice as an
attorney and is practicing as an attorney, not in public accounting, may
include toward the Board’s annual CPE requirement programs qualified and
earned for CLE (continuing legal education).
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
1
1
1
V
1
1
1
1
1
G)
1
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.1. A practice unit which has not performed any engagement as defined in paragraph
1 of this rule during the 12 months prior to registration per Chapter 3 shall be
exempt from enrollment in a peer review program but not from registering with
the Board.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.3. Compliance Assurance Enrollment in Board-Approved Peer Review Program
Rule 5.3.1. A practice unit which has not performed any engagement as defined in paragraph
1 of this rule during the 12 months prior to registration per Chapter 3 shall be
exempt from the mandatory peer review, enrollment in a peer review program but
not from registering with the Board.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.3. Unless exempt under Rule 5.3.1., each new practice unit shall enroll in the
program of an approved sponsoring organization within one year from its initial
permitting date or the performance of accounting and/or auditing services that
require a review. The practice unit shall adopt the review date assigned by the
sponsoring organization and must notify the board of the date within 30 days of
its assignment.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.3. Unless exempt under Rule 5.3.1., each new practice unit shall enroll in the
program of an approved sponsoring organization in accordance with paragraph
5.6. of this rule within one year from its initial permitting date or the performance
of accounting and/or auditing services that require a review. The practice unit
shall adopt the review date assigned by the sponsoring organization and must
notify the board of the date within 30 days of its assignment.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.4. The Board may accept an extension, not to exceed 180 days, as granted by the
sponsoring organization to conduct a review, provided the board is notified by the
practice unit within 30 days of the date of such an extension.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.4. The Board may accept an extension, not to exceed 180 days, as granted by the
sponsoring organization to conduct a review, provided the board is notified by the
practice unit within 20 30 days of the date of such an extension.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.7. In the event a practice unit is sold, dissolved, or merged with the practice of one
or more other practice units, determination of successor or predecessor practice
unit(s), peer review year-end(s) and the peer review due date(s) will be made in
accordance with the sponsoring organization’s guidance.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.3. Enrollment in Board-Approved Peer Review Program
Rule 5.3.7. In the event a practice unit is sold, dissolved, or merged with the practice of one
or more other practice units, determination of successor or predecessor practice
unit(s), peer review year-end(s) and the peer review due date(s) will be made in
accordance with the sponsoring organization’s guidance.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.6. Approved Peer Review Sponsoring Organizations, Programs and Peer Review
Standards
(a) The Board shall approve peer review sponsoring organizations, program(s) and
standards.
(b) The Board finds that because the American Institute of Certified Public
Accountants (AICPA) has decades of experience as a sponsoring organization
and has developed universally respected peer review standards, the Board
recognizes the AICPA as an approved sponsoring organization, along with its
peer review program and standards; this approval also applies to any
Administering Entity of the AICPA Peer Review Program. These organizations
are not required to submit an application for approval to the Board. As a
condition of this approval, a sponsoring organization is required to:
(1) administer peer reviews for nonmember licensees whose firms’ principal
places of business are located in the state(s) where it administers peer
reviews, provided that such nonmembers comply with the applicable peer
review standards, and
(2) provide advance notice to the Board and an opportunity for discussion if any
Administering Entity is to be discontinued.
(c) The Board may terminate its approval of a sponsoring organization for cause
following notice and opportunity for hearing. For purposes of this paragraph,
“cause” includes but is not limited to a substantive change in the Peer Review
Program that adversely affects licensees or the public firms or impairs the
Board’s ability to protect the public in this State or failure to maintain an
ongoing compliance with the requirements of this chapter.
(d) The Board may approve other peer review sponsoring organizations and
programs. For an organization not specifically identified in these Rules as
Board-approved, to receive Board approval for its peer review program and
standards, the organization must submit evidence to the satisfaction of the
Board. The evidence shall include but is not limited to the standards,
procedures, guidelines, oversight process, training materials and related
documents used to administer, perform, and accept peer reviews. The Board has
the authority to request any other documents/information from an organization
about its peer review program in determining whether to grant approval.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.6. Requirements of Sponsoring Organizations’ Peer Review Programs Approved
Peer Review Sponsoring Organizations, Programs and Peer Review Standards
Rule 5.6.1. Minimum standards: The board hereby adopts "Standards for Performing and
Reporting on Peer Reviews" and “Peer Review Standards Interpretations”
promulgated by the American Institute of Certified Public Accountants, Inc., as its
minimum standards for review of practice units.
Rule 5.6.2. A sponsoring organization is subject to review by an independent Board
Oversight Committee as set forth in Rule.
Rule 5.6.3. To qualify as a sponsoring organization, an entity must submit an administration
plan to the Board for review and approval. The plan of administration must:
(a) establish a peer review committee (PRC) and subcommittees as needed, and
provide professional staff as needed for the operation of the review program;
(b) establish and document a program to communicate to practice units
participating in the program the latest developments in peer review standards
and the most common findings in the reviews conducted by the sponsoring
organization;
(c) establish and document procedures for resolving any disagreement which may
arise out of the performance of a review;
(d) establish procedures to resolve matters which may lead to the dismissal of a
practice unit from the peer review program, and conduct hearings pursuant to
those procedures;
(e) establish procedures to evaluate and document the performance of each
reviewer, and conduct hearings which may lead to the disqualification of a
reviewer who does not meet the AICPA standards;
(f) require the maintenance of records of reviews conducted under the program in
accordance with the records retention rules of the AICPA; and
(g) provide for periodical examinations and reports to the Board’s Oversight
Committee on the results of the program.
Rule 5.6.4. A peer review committee (PRC) is comprised of CPAs practicing public
accountancy and formed by a sponsoring organization for the purpose of
accepting review reports submitted by practice units on review engagements.
(a) Each member of a PRC must be active in the practice of public accountancy at
a supervisory level in the accounting or auditing function while serving on the
committee. The member's practice unit must be enrolled in an approved
practice monitoring program and have received an unqualified report on its
most recent review. A majority of the committee members must satisfy the
qualifications required of onsite peer review team captains as established and
reported in the AICPA Standards for Performing and Reporting and Peer
Reviews, paragraph 76.
(b) Each member of the PRC must be approved for appointment by the governing
body of the sponsoring organization.
(c) In determining the size of the PRC, the requirement for broad industry
experience, and the likelihood of some members needing to recuse themselves
during the consideration of some reviews a result of the members' close
association to the practice unit or having performed the review, shall be
considered.
(d) No more than one PRC member may be from the same practice unit.
(e) A PRC member may not concurrently serve as a member of his:
(1) state's board of public accountancy; or
(2) state’s CPA society’s ethics committee
(f) A PRC member may not participate in any discussion or have any vote with
respect to a reviewed practice unit when the committee member lacks
independence as defined in Rule 6.2. of the board's Rules of Professional
Conduct (relating to Independence) or has a conflict of interest. Examples of
conflicts of interest include, but are not limited to:
(1) the member's practice unit has performed the most recent review of the
reviewed practice unit’s accounting and auditing practice;
(2) the member served on the review team which performed the current or the
immediately preceding review of the enrolled practice unit;
(3) the member serves on the state board of accountancy or state society ethics
committee of any state in which any office of the practice unit is located;
and
(4) the member believes he cannot be impartial or objective.
(g) Each PRC member must comply with the confidentiality requirements of
Mississippi Code of 1972, Section 73-33-12. The sponsoring organization
may annually require its PRC members to sign a statement acknowledging
their appointments and the responsibilities and obligations of their
appointments.
Rule 5.6.5. Responsibilities of the Peer Review Committee.
(a) The PRC shall establish and administer the sponsoring organization's review
program in accordance with the AICPA Standards for Performing and
Reporting on Peer Reviews.
(b) The PRC shall, when necessary in reviewing reports on peer reviews,
prescribe actions designed to assure correction of the deficiencies in the
reviewed practice unit’s system of quality control policies and procedures.
(c) The PRC shall monitor the prescribed remedial and corrective actions to
determine compliance by the reviewed practice unit.
(d) The PRC shall resolve instances in which there is a lack of cooperation and
disagreement between the committee and review teams or reviewed practice
units in accordance with the sponsoring organization's adjudication process.
(e) The PRC shall resolve instances in which there is a lack of cooperation and
disagreement between the committee and review teams or reviewed practice
units in accordance with the sponsoring organization's adjudication process.
(f) The PRC may appoint members to subcommittees and task forces as
necessary to carry out its functions.
(g) The PRC shall establish and perform procedures for insuring that reviews are
performed and reported on in accordance with the AICPA Standards for
Performing and Reporting on Peer Reviews.
(h) The PRC shall establish a report acceptance process which facilitates the
exchange of viewpoints among committee members.
(i) The PRC shall communicate to the governing body of the sponsoring
organization on a recurring basis:
(1) problems experienced by the enrolled practice units in their systems of
quality control as noted in the reviews conducted by the sponsoring
organization;
(2) problems experienced in the implementation of the review program; and
(3) a summary of the historical results of the review program.
(a) The Board shall approve peer review sponsoring organizations, program(s) and
standards.
(b) The Board finds that because the American Institute of Certified Public
Accountants (AICPA) has decades of experience as a sponsoring organization
and has developed universally respected peer review standards, the Board
recognizes the AICPA as an approved sponsoring organization, along with its
peer review program and standards; this approval also applies to any
Administering Entity of the AICPA Peer Review Program. These organizations
are not required to submit an application for approval to the Board. As a
condition of this approval, a sponsoring organization is required to:
(1) administer peer reviews for nonmember licensees whose firms’ principal
places of business are located in the state(s) where it administers peer
reviews, provided that such nonmembers comply with the applicable peer
review standards, and
(2) provide advance notice to the Board and an opportunity for discussion if any
Administering Entity is to be discontinued.
(c) The Board may terminate its approval of a sponsoring organization for cause
following notice and opportunity for hearing. For purposes of this paragraph,
“cause” includes but is not limited to a substantive change in the Peer Review
Program that adversely affects licensees or the public firms or impairs the
Board’s ability to protect the public in this State or failure to maintain an
ongoing compliance with the requirements of this chapter.
(d) The Board may approve other peer review sponsoring organizations and
programs. For an organization not specifically identified in these Rules as
Board-approved, to receive Board approval for its peer review program and
standards, the organization must submit evidence to the satisfaction of the
Board. The evidence shall include but is not limited to the standards,
procedures, guidelines, oversight process, training materials and related
documents used to administer, perform, and accept peer reviews. The Board has
the authority to request any other documents/information from an organization
about its peer review program in determining whether to grant approval.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.7. Peer Review Oversight Committee
(a) A Peer Review Oversight Committee (PROC) may be appointed or adopted by
the Board to monitor the Board-approved peer review program, including
sponsoring organizations’ administering entities. The PROC or the Board’s
designee shall report to the Board, at least annually, on the conclusions and
recommendations reached as a result of the PROC’s activities.
(b) PROC members shall:
(1) Not include individuals who have a conflict of interest under applicable law,
Board Rule, or sponsoring organization standards.
(2) Be subject to removal or replacement by the Board at its discretion.
(3) Be required to sign a confidentiality agreement indicating they will not
divulge any information to the Board that would identify any firm,
licensee, or peer reviewer/reviewing firm as a result of their monitoring of
the peer review process.
(4) Perform procedures which may consist of but are not limited to the
following activities:
(i) Visiting the Administering Entities of the approved peer review
program;
(ii) Reviewing sponsoring organization procedures for administering the
program;
(iii) Meeting with an Administering Entity’s Report Acceptance
Body during consideration of the peer review documents;
(iv) Reviewing the Administering Entity’s compliance with its
program.
(c) The Board shall establish procedures and take all action necessary to ensure that
the above materials remain confidential to the extent required by applicable
statutes and rules.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.7. Board Oversight Peer Review Oversight Committee
Rule 5.7.1. The Board shall appoint a Board Oversight Committee (BOC) whose function
shall be the oversight and monitoring of sponsoring organizations for compliance
and implementation of the minimum standards for peer review performance and
reporting on reviews. Oversight procedures to be followed by the BOC shall be
provided for by rules promulgated by the board. Information concerning a specific
practice unit or reviewer obtained by the BOC during oversight activities shall be
confidential, and the practice unit’s or reviewer's identity shall not be reported to
the board. The BOC shall consist of three members, none of whom are current
members of the board. The Board shall designate and have control over who sits
on the committee within the following guidelines:
(a) No member of the Board Oversight Committee shall be a current member of
the Board, an employee of the Board, the sponsoring organization, or the
ethics committees of the AICPA or CPA Society.
(b) Members of the Board Oversight Committee shall be appointed by the Board
to serve terms of service no less than three years and no more than five years.
(c) All members of the Board Oversight Committee shall be licensees in the State
of Mississippi, with extensive experience in accounting and auditing,
currently in practice at the partner (or equivalent) level, and shall be members
of the Society or the AICPA. The member’s practice unit must have received
an unqualified opinion from its last peer review.
Rule 5.7.2. Operation and Function.
(a) At least one member of the BOC may attend all meetings of the Society Peer
Review Committee. Attendance is integral to the oversight of the program
because of the necessity to hear the deliberations and considerations made by
the Peer Review Committee. Certain Peer Review Committee meetings may
be conducted by telephone. In those instances, the oversight committee may
join the conference call.
(b) The Board shall be responsible for the travel cost of the BOC member
attending the PRC meetings.
(c) The BOC shall meet at its discretion to compile an annual report to the Board
as to the continued reliance on the sponsoring organization review reports as
grounds for excluding CPAs from undergoing Board initiated reviews.
However, in no case shall the BOC report any matters to the Board that could
divulge the identity of a practice unit or a CPA.
(d) The sponsoring organization PRC will address all items of feedback from the
oversight committee.
(e) In order for the BOC to function appropriately, the sponsoring organization
will make available to the BOC the following:
(1) Standards, procedures, guidelines, training materials and similar
documents prepared for the use of reviewers, reviewed practice units, and
administering entities.
(2) Information concerning the extent to which the PRC has reviewed the
quality of reviewers’ working papers in connection with the acceptance of
reviews.
(3) Statistical data concerning the results of reviews including number and
type of corrective actions required and the number, nature and extent of
the monitoring procedures applied.
(4) The following documents on a reasonable sample of reviews that have
been accepted by the PRC:
a. The report and letter of comments, if any, on the review and the
practice unit’s letter of response.
b. The firm-wide summary review memorandum.
c. The team captain checklist.
d. Any working papers, notes, or other documentation, including
reviewer working papers prepared or reviewed by the Peer Review
Committee in connection with the scheduling, performance, or
acceptance of the review.
e. Correspondence or other documentation concerning acceptance of the
review, the imposition of required corrective actions, the monitoring
procedures applied, and the results thereof.
f. The Oversight Committee shall predetermine the number of reviews to
be selected each year and shall select the specific reviews using
random sampling.
(5) The sponsoring organizations’ PRC meetings and all minutes of such
meetings, including meetings during which peer review reports are
considered.
(f) BOC members shall not take part in the discussion of a peer review by the
PRC nor offer any evidentiary matters related to a particular practice unit.
Rule 5.7.3. Confidentiality: Members of the State BOC shall sign an agreement to appraise
all information to which they have access as confidential. This is consistent with
the responsibilities assumed by PRC members. The BOC shall not communicate
to the Board information, or any of its staff, that would divulge the identity of a
licensee or a practice unit.
Rule 5.7.4. Reporting: Annually and no later than ninety days after the end of its June 30
fiscal year, the sponsoring organization’s Executive Director or equivalent shall
provide the Board’s Executive Director a listing of CPAs names that participated
in the sponsoring organization’s peer review program within the prior fiscal year.
The list shall present no confidential information related to the program; however,
shall present only dates for the last peer review and next scheduled review for
each. In addition, the PRC agrees to notify the Board in writing the name of any
practice unit discontinued from its program and the known reasons for
discontinuance.
Rule 5.7.5. Funding: The expenses of the State BOC will be paid by the Mississippi State
Board of Public Accountancy after Committee members complete necessary
forms as prescribed by the Board and as agreed to by the applicable parties.
(a) A Peer Review Oversight Committee (PROC) may be appointed or adopted by
the Board to monitor the Board-approved peer review program, including
sponsoring organizations’ administering entities. The PROC or the Board’s
designee shall report to the Board, at least annually, on the conclusions and
recommendations reached as a result of the PROC’s activities.
(b) PROC members shall:
(1) Not include individuals who have a conflict of interest under applicable law,
Board Rule, or sponsoring organization standards.
(2) Be subject to removal or replacement by the Board at its discretion.
(3) Be required to sign a confidentiality agreement indicating they will not
divulge any information to the Board that would identify any firm,
licensee, or peer reviewer/reviewing firm as a result of their monitoring of
the peer review process.
(4) Perform procedures which may consist of but are not limited to the
following activities:
(i) Visiting the Administering Entities of the approved peer review
program;
(ii) Reviewing sponsoring organization procedures for administering the
program;
(iii) Meeting with an Administering Entity’s Report Acceptance
Body during consideration of the peer review documents;
(iv) Reviewing the Administering Entity’s compliance with its
program.
(c) The Board shall establish procedures and take all action necessary to ensure that
the above materials remain confidential to the extent required by applicable
statutes and rules.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Quality Review/Peer Review
Rule 5.8. Investigations
Nothing in this rule should be construed to prohibit the Board from initiating an
investigation involving complaint(s) of alleged violations of statute or Rules and
Regulations against a practice unit or CPA.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 5: Compliance Assurance Program Quality Review/Peer Review
Rule 5.8. Investigations
Nothing in this rule should be construed to prohibit the Board from initiating an
investigation involving compliaaint(s) of alleged violations of statute or Rules and
Regulations against a practice unit or CPA.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.1. Appointments
Rule 8.1.1. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.1. Appointments
Rule 8.1.1. The Board shall consist of seven members, duly appointed by the Governor of the
State of Mississippi. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.1. Meetings of the Board shall be conducted in accordance with Robert’s Rules of
Order insofar as such rules are compatible with the laws of the State governing
the Board or its own resolutions as to its conduct. No Board action shall be
invalidated by reasons of failure to comply with those rules.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.1. Meetings of the Board shall be conducted in accordance with Robert’s Rules of
Order insofar as such rules are compatible with the laws of the State governing
the Board or its own resolutions as to its conduct. No Board action shall be
invalidated by reasons of failure to comply with those rules. All meetings will be
open to the public.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.3. The Board shall elect from its members, a Chair, Vice Chair and Secretary of the
Board for calendar year terms. Such election shall be held during the first
regularly scheduled Board meetings of the calendar year, normally convened in
January of each year.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.3. The Board shall elect from its members, a Chair, Vice Chair and Secretary of the
Board for calendar year terms. Such election shall be held during the first
regularly scheduled Board meetings of the calendar year, normally convened in
January of each year. Any member missing three (3) consecutive meetings for
reasons other than illness shall be subject to removal on majority vote of the
Board members.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.4. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.4. A majority of the members appointed and serving on the Board shall constitute a
quorum and no business shall be transacted by the Board in the absence of a
quorum. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.14. Rescinded.
Title 30: Mississippi State Board of Public Accountancy
Part 1: Mississippi State Board of Public Accountancy Rules and Regulations
Part 1 Chapter 8: State Board of Public Accountancy
Rule 8.2. Meetings, Organization, and Duties
Rule 8.2.14. The Board is charged with the duty of adopting and enforcing rules and
regulations necessary to maintain the highest standard of proficiency in the
practice of public accounting for the protection of the public interest. The Board’s
mission is to protect the public welfare of the citizens of the State of Mississippi,
and therefore the State’s commerce, through its oversight of certified public
accountants and CPA firms. The State Board provides oversight of CPAs and
CPA firms through its regulation, testing, certification, licensing, qualification
and standards setting, monitoring and investigations as established by the Act and
these regulations. Rescinded.
