Practice Privilege. Effective August 28, 2014: An individual whose principal place of business is not in Puerto Rico shall have all the privileges of a Puerto Rico CPA without the need to obtain a reciprocal Puerto Rico CPA license or file notice, if the individual: - Holds a valid license as a CPA issued by another state that NASBA's National Qualification Appraisal Service (NQAS) has verified to be substantially equivalent to the CPA licensure requirements of the Uniform Accountancy Act (UAA); OR
- Holds a valid license as a CPA issued by another state and obtains from the NQAS a CredentialNet Substantial Equivalency Evaluation Report verifying that the individual's CPA qualifications are substantially equivalent to the CPA licensure requirements of the UAA.
Please Note: An individual who has passed the Uniform CPA Examination and holds a valid license issued by any other state prior to January 1, 2012, shall be exempt from the education requirements of Section 774(e) for purposes of Section 775(a)(2).
The performance of attest services or the issuance of reports requiring the attachment of a stamp may require individual reciprocal licensing and society membership. Please contact the Puerto Rico Board directly for further clarification on requirements specific to your activities.
Consent to Jurisdiction An individual licensee of another state who is exercising this privilege and the CPA firm that employs such individual, if any, as a condition of the grant of this privilege, hereby simultaneously consents: - To the personal and subject matter jurisdiction and disciplinary authority of the Board;
- To comply with the Puerto Rico law and rules;
- That in the event that the license from the state of the individual's principal place of business is no longer valid, the individual shall cease offering or rendering accounting activities individually or on behalf of a CPA firm; and
- To the appointment of the state board that issued the individual's or the CPA firm's license as the agent upon which process may be served in any action or proceeding by the Board against the individual.
Firm Registration Requirements May Apply An individual licensee who qualifies for practice privileges who, for any entity with its home office in Puerto Rico, performs (1) an audit or other engagement to be performed in accordance with SAS; (2) any review of a financial statement or compilation to be performed in accordance SSARS; (3) any engagement to be performed in accordance with SSAE; or (4) any engagement to be performed in accordance with PCAOB standards may only do so through a firm having a firm permit issued under Section 776 or 778 unless the individual is a sole practitioner in the state in which they have their principal place of business.
For mobility purposes, "CPA license" means a CPA license granted by the state board after all education, exam and experience requirements have been met. A CPA performing services through mobility may only perform the same level of services (attest or non-attest) in the mobility jurisdiction as he or she is permitted to perform in the home jurisdiction. Please note the following if you are coming from one (1) of the jurisdictions listed: - An Alabama certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- A Connecticut certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- An Illinois certificate or registered certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- Both a Hawaii CPA license and permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- A Kansas certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- Both a Nebraska CPA certificate and permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- An Oklahoma registrant must hold an active permit In order to hold out or practice as a CPA in a mobility jurisdiction.
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