Rule 4701-13-05 | Change of firm name or ownership.
(A) A public accounting firm that changes its name shall notify the board within thirty days of the effective date of the change.
(B) If two or more public accounting firms subject to 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 any public accounting firm subject to peer review requirements is purchased, or otherwise acquired by another public accounting firm, the firm acquiring the previous firm's client records will accept responsibility for those client records subject to examination at the purchasing firm's next scheduled peer review.
(D) If two or more public accounting firms are merged by any legal means and not all of the merging public accounting firms are subject to peer review requirements, then the surviving public accounting firm shall be subject to 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 surviving public accounting firm's next registration deadline.
(E) If two or more public accounting firms are merged by any legal means and none of the former public accounting firms are subject to peer review requirements, then the new public accounting firm must complete a peer review within eighteen months of the date of initial registration with the board.
(F) If a public accounting firm subject to peer review requirements is divided, then each new public accounting firm shall be subject to 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.
(G) If a public accounting firm is dissolved and subsequently reestablished as another 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.
(H) The executive director, subject to board approval may change a firm's registration renewal deadline for just cause.
Supplemental Information