Accy 1.405(1)(a)4. 4. A name that includes information about or indicates an association with persons who are not members of the firm, except as provided in subs. (3) and (4).
Accy 1.405(1)(a)5. 5. A name that includes the terms "& Company," "& Associate," or "Group," if the firm does not include, in addition to the named partner, shareholder, owner, or member, at least one other unnamed partner, shareholder, owner, member, or staff employee.
Accy 1.405(1)(b) (b) A name that contains any representation that would be likely to cause a reasonable person to have a false or unjustified expectation of favorable results or capabilities, through the use of a false or unjustified statement of fact as to any material matter.
Accy 1.405(1)(c) (c) A name that claims or implies the ability to influence a regulatory body or official.
Accy 1.405(1)(d) (d) A name that includes the name of an owner whose license has been revoked for disciplinary reasons by the board, whereby the licensee has been prohibited from practicing public accountancy or prohibited from using the title CPA or holding himself or herself out as a certified public accountant.
Accy 1.405(2) (2) Any of the following is a permissible type of CPA firm name if it does not otherwise violate this subchapter:
Accy 1.405(2)(a) (a) A firm name that includes the names of one or more former or present owners.
Accy 1.405(2)(b) (b) A firm name that excludes the names of one or more former or present owners.
Accy 1.405(2)(c) (c) A firm name that uses the CPA title as part of the firm name when all named individuals are owners of the firm who hold such title or are former owners who held such title at the time they ceased to be owners of the firm.
Accy 1.405(2)(d) (d) A firm name that includes the name of a non-CPA owner if the CPA title is not a part of the firm name.
Accy 1.405(3) (3) A network firm may use a common brand name or share common initials as part of the firm name.
Accy 1.405(4) (4) A network firm may use the network name as the firm's name, provided that it also shares one or more of the following characteristics with other firms in the network:
Accy 1.405(4)(a) (a) Common control, as defined by generally accepted accounting principles in the U.S., among the firms through ownership, management, or other means.
Accy 1.405(4)(b) (b) Profits or costs, excluding costs of operating the association, costs developing audit methodologies, manuals and training courses, and other costs that are immaterial to the firm.
Accy 1.405(4)(c) (c) A common business strategy that involves ongoing collaboration among the firms whereby the firms are responsible for implementing the association's strategy and are held accountable for performance pursuant to that strategy.
Accy 1.405(4)(d) (d) A significant part of professional resources.
Accy 1.405(4)(e) (e) Common quality control policies and procedures that participating firms are required to implement and that are monitored by the association.
Accy 1.405 History History: Cr. Register, June, 1974, No. 222, eff. 7-1-74; cr. (2), Register, December, 1974, No. 228, eff. 1-1-75; r. and recr. (1) (a), renum. (2) to be (3) and cr. (2), Register, February, 1976, No. 242, eff. 4-1-76; renum. from Accy 1.505 and am. (3) (intro.), Register, July, 1980, No. 295, eff. 8-1-80; am. (2) (intro.) and (a), Register, April, 1981, No. 304, eff. 5-1-81; am. (3) (a), Register, June, 1982, No. 318, eff. 7-1-82; am. (2), Register, July, 1983, No. 331, eff. 8-1-83; am. (1) (intro.) and (a), Register, January, 1985, No. 349, eff. 2-1-85; r. (1) (b), Register, February, 1990, No. 410, eff. 3-1-90; am. (1) (a), Register, February, 1992, No. 434, eff. 3-1-92; r. and recr. (1) (intro.), Register, May, 1994, No. 461, eff. 6-4-94; CR 03-071: cons. and renum. (1) (intro.), (a) to be (1) and (3) (intro.), (a) to be (3) and am., r. (1) (c), am. (2) Register May 2004 No. 581, eff. 6-1-04; 2015 Wis. Act 217: r. and recr. Register May 2016 No. 725, eff. 6-1-16.
Accy 1.406 Accy 1.406 Practice while suspended. No person who is licensed to practice as a certified public accountant, who has been suspended, shall practice as a certified public accountant during the period of such suspension.
Accy 1.406 History History: Cr. Register, June, 1974, No. 222, eff. 7-1-74; renum. from Accy 1.506, Register, July, 1980, No. 295, eff. 8-1-80; CR 03-071: am. Register May 2004 No. 581, eff. 6-1-04.
Accy 1.407 Accy 1.407 Communications. A certified public accountant shall, when requested, respond to communications from the board within 30 days of the mailing of such communications by registered or certified mail.
Accy 1.407 History History: Cr. Register, July, 1978, No. 271, eff. 9-1-78; renum. from Accy 1.507, Register, July, 1980, No. 295, eff. 8-1-80.
Accy 1.408 Accy 1.408 Ownership requirements.
Accy 1.408(1) (1) In this section "ownership interest" means any equity or voting interest in a firm.
Accy 1.408(2) (2) An applicant for a license as a certified public accounting firm shall demonstrate that more than 50% of the ownership interest of the firm is held by individuals who hold certificates or licenses to practice as a certified public accountant issued under the laws of any state or foreign country.
Accy 1.408(3) (3) A firm applying for licensure meets the ownership requirement under sub. (2) in the following circumstances:
Accy 1.408(3)(a) (a) If the applicant is a sole proprietorship and the owner holds a certificate and license to practice as a certified public accountant issued under the laws of this state.
Accy 1.408(3)(b) (b) If the applicant is organized as a service corporation and more than 50% of the voting rights are held by individuals who are certified public accountants.
Accy 1.408(3)(c) (c) If the applicant is organized as a business corporation and more than 50% of the voting rights are held by individuals who are certified public accountants.
Accy 1.408(3)(d) (d) If the applicant is organized as a partnership or limited liability partnership and more than 50% of the voting rights are held by individuals who are certified public accountants.
Accy 1.408(3)(e) (e) If the applicant is organized as a limited liability company and more than 50% of the voting rights are held by individuals who are certified public accountants.
Accy 1.408(4) (4) An applicant firm with ownership characteristics other than those identified in sub. (3) may submit information about the ownership interests of all members of the firm to the board. The board may determine that more than 50% of the ownership interest of the firm is held by individuals who hold certificates or licenses to practice as a certified public accountant. In making this determination the board shall consider whether ownership interest of all members of the firm results in control and management of the firm by individuals who hold certificates or licenses to practice as a certified public accountant.
Accy 1.408 History History: CR 02-052: cr. Register December 2002 No. 564, eff. 1-1-03.
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Published under s. 35.93, Stats. Updated on the first day of each month. Entire code is always current. The Register date on each page is the date the chapter was last published.