For additional information please see 22 GCA § 35103, § 35107, and § 35122.
Practice Privilege/Substantial Equivalency. An individual whose principal place of business is not in Guam may be granted practice privileges in Guam if his/her qualifications have been deemed substantially equivalent to Guam’s requirements. Substantial equivalency is established if the individual: - Has a valid certificate or license from a substantially equivalent jurisdiction; OR
- Has individual CPA qualifications that are substantially equivalent with the CPA licensure requirements of the Uniform Accountancy Act. Individuals must obtain an individual substantial equivalency evaluation from NASBA's CredentialNet Service. This requires you to create an account with the CPA Licensing Online Application System, if you do not already have one. Select “CredentialNet” for the jurisdiction to which you wish to apply. CredentialNet will send a report to the CPA indicating substantial equivalency status. This record should be kept by the individual as an official record of verification of their individual qualifications. An individual with practice privileges in Guam may offer or render professional services, whether in person, by mail, telephone or electronic means.
Consent to Jurisdiction An individual licensee of another state exercising the practice privilege and the CPA firm that employs the licensee, as a condition of the grant of this privilege, simultaneously consent to the following: - To the personal and subject matter jurisdiction and disciplinary authority of the Guam Board;
- To comply with the Guam Board's rules and laws;
- That in the event the license from the state of the individual's principal place of business is no longer valid, the individual shall cease offering or rendering professional services in Guam individually and on behalf of a CPA firm; and
- To the appointment of the state board that issued the license as the agent upon whom process may be served in the action or proceeding by the Guam Board against the licensee.
Firm Registration Requirements May Apply An individual exercising practice privileges in the performance of the following services for a client with its home office in Guam must perform such services through a firm that holds a firm permit. - Any audit or other engagement to be performed in accordance with SAS;
- Any examination of prospective financial information to be performed in accordance with SSAE;
- Any engagement to be performed in accordance with the standards of the PCAOB; or
- Any examination, review, or agreed upon procedures engagement to be performed in accordance with SSAE, other than any examination of prospective financial information to be performed in accordance with SSAE.
An individual who has practice privileges in Guam who performs or offers to perform services for which a firm permit is required by the Guam Board shall not be required to obtain an individual certificate or permit.
A firm which does not have an office in Guam may perform any review of a financial statement to be performed in accordance with SSARS or may perform a compilation for a client having its home office in Guam, and may use the title “CPA” or “CPA firm” without a firm permit only if it: - Meets simple majority of ownership individual licensure requirements;
- Meets peer review requirements; and
- Performs such services through an individual with practice privileges in Guam.
An out-of-state firm may perform or offer professional services other than attest and compilation services and may use the "CPA" or "CPA firm" title without a firm permit issued by the Guam Board if: - It performs such services through an individual with practice privileges in Guam; and
- It can lawfully do so in the state in which the individual with practice privileges in Guam has his/her 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 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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