Substantial Equivalency
(Effective 9/20/07)

CPAs - An individual whose principal place of business is outside the State is presumed to have qualifications substantially equivalent to the State's requirements and has all the privileges of permit holders of the State and may provide professional services in the State without the requirement to obtain a permit under this section or to otherwise notify or register with the board or pay any fee if the individual:

  1. Holds a valid license as a certified public accountant from a state that the board has verified to be in substantial equivalence with the certified public accountant licensure requirements of a national association of state boards of accountancy and standards promulgated by the AICPA; or
  2. Holds a valid license as a certified public accountant from a state that is not in substantial equivalence with the certified public accountant licensure requirements under subparagraph (1), but the board determines that the individual's certified public accountant qualifications are substantially equivalent to the certified public accountant licensure requirements of a national association of state boards of accountancy and standards promulgated by the AICPA.

    A CPA who holds a license in a state that has NOT been found to be substantially equivalent to the Uniform Accountancy Act by the NASBA National Qualification Appraisal Service click here for a list of those states) must obtain an individual substantial equivalency evaluation from NASBA's CredentialNet Service. CredentialNet will send a report to the applicant indicating substantial equivalency status. This record should be kept by the applicant as an official record for verification of their individual qualifications.

Firms - A firm must hold a permit issued under this section if it:

  1. Has an office in this State performing any of the services described in section 12201, subsection 3-A, paragraphs A to D;
  2. Has an office in this State that uses the title "CPA" or "CPA firm"; or
  3. Does not have an office in this State but performs any of the services described in section 12201, subsection 3-A, paragraphs A to D for a client having its home office in this State.

If you cannot find the answer to your question, click HERE to send an e-mail message to the Board of Accountancy.

 

Last Updated: February 3, 2014