4701-13-09 Change of firm registration status.

(A) A public accounting firm that changes its name shall notify the board within ninety days of the effective date of the change.

(B) If two or more public accounting firms subject to the peer review requirements are merged by any legal means, then the surviving public accounting firm shall retain the latest firm registration deadline of the former public accounting firms.

(C) If two or more public accounting firms are merged by any legal means and not all of the public accounting firms are subject to the peer review requirements, then the surviving public accounting firm shall be subject to the peer review requirements and retain the latest firm registration deadline of any former public accounting firm subject to peer review, except that twelve months must elapse between the time of the merger and the new public accounting firm's registration deadline.

(D) If two or more public accounting firms are merged by any legal means and none of the former public accounting firms are subject to the peer review requirements, then the new public accounting firm must renew its firm registration within eighteen months of the date of initial registration with the board.

(E) If a public accounting firm subject to the peer review requirements is divided, then each new public accounting firm shall be subject to the peer review requirements and retain the firm registration deadline of the former public accounting firm, except that at least twelve months must elapse before the new public accounting firms must renew their firm registrations.

(F) If a public accounting firm is dissolved and subsequently reestablished as a different public accounting firm with substantially similar ownership, then the successor public accounting firm will retain the predecessor public accounting firm's firm registration renewal deadline.

(G) An attest accounting firm may request to change its firm registration to non-attest if at least one of the following criteria has been met;

(1) The firm has not performed any engagement(s) subject to peer review requirements since the firm's last peer review. The firm may switch its status to non-attest by submitting a written request and a peer review exemption form to the board.

(2) If the firm performed any engagement(s) subject to the peer review requirements since the firm's last peer review; then a peer review must be completed before the request will be granted.

(H) If any public accounting firm subject to the peer review requirements is purchased, or otherwise acquired by another public accounting firm, the firm acquiring the previous client's records will accept responsibility for those client's records subject to review at the purchasing firms next scheduled peer review.

(I) The board may change a firm's registration renewal deadline for just cause.

Effective: 9/12/2015
Five Year Review (FYR) Dates: 04/09/2015 and 09/12/2020
Promulgated Under: 119.03
Statutory Authority: 4701.03, 4701.04
Rule Amplifies: 4701.04
Prior Effective Dates: 11/5/92, 8/5/99, 7/31/03, 7/16/09