326.286. Issuance and renewal of licenses, when, term--license holder by foreign authority, state license issued, when.

MISSOURI STATUTES AND CODES

326.286. Issuance and renewal of licenses, when, term--license holder by foreign authority, state license issued, when.

Issuance and renewal of licenses, when, term--license holder byforeign authority, state license issued, when.

326.286. 1. The board may grant or renew licenses to persons whomake application and demonstrate that their qualifications, including thequalifications prescribed by section 326.280, are in accordance with thissection.

2. Licenses shall be initially issued and renewed for periods of notmore than three years and shall expire on the renewal date followingissuance or renewal. Applications for licenses shall be made in such form,and in the case of applications for renewal, between such dates, as theboard by rule shall specify. Application and renewal fees shall bedetermined by the board by rule.

3. With regard to applicants that do not qualify for reciprocitypursuant to subsection 1 of this section, or a provisional license throughthe substantial equivalency standard set out in subsection 1 of section326.283, the board may issue a license to an applicant upon a showing that:

(1) The applicant passed the examination required for issuance of theapplicant's certificate with grades that would have been passing grades atthe time in this state;

(2) The applicant had four years of experience outside of this stateof the type described in subdivision (6) of subsection 1 of section 326.280or meets equivalent requirements prescribed by the board by rule, afterpassing the examination upon which the applicant's license was based andwithin the ten years immediately preceding the application; and

(3) If the applicant's certificate, license or permit was issued morethan four years prior to the application for issuance of a license pursuantto this section, the applicant has fulfilled the requirements of continuingprofessional education that would have been applicable pursuant tosubsection 6 of this section.

4. As an alternative to the requirements of subsection 3 of thissection, a certified public accountant licensed by another state whoestablishes a principal place of business in this state shall request theissuance of a license from the board prior to establishing the principalplace of business. The board may issue a license to the person who obtainsverification from the NASBA National Qualification Appraisal Service thatthe individual's qualifications are substantially equivalent to thelicensure requirements of sections 326.250 to 326.331.

5. An application pursuant to this section may be made through theNASBA Qualification Appraisal Service.

6. For renewal of a license pursuant to this section, each licenseeshall participate in a program of learning designed to maintainprofessional competency. The program of learning shall comply with rulesadopted by the board. The board may create by rule an exception to suchrequirement for licensees who do not perform or offer to perform for thepublic one or more kinds of services involving the use of accounting orauditing skills, including issuance of reports on financial statements orof one or more kinds of management advisory, financial advisory orconsulting services, or the preparation of tax returns or the furnishing ofadvice on tax matters. Licensees granted an exception by the board shallplace the word "inactive" adjacent to their certified public accountanttitle on any business card, letterhead or any other document or device,except their certified public accountant certificate, on which theircertified public accountant title appears.

7. Applicants for initial issuance or renewal of licenses pursuant tothis section shall list all states in which they have applied for or holdcertificates, licenses or permits and list any past denial, revocation orsuspension or any discipline of a certificate, license or permit. Eachholder of or applicant for a license shall notify the board in writingwithin thirty days after its occurrence of any issuance, denial, revocationor suspension or any discipline of a certificate, license or permit byanother state.

8. The board may issue a license to a holder of a substantiallyequivalent foreign designation, provided that:

(1) The foreign authority which granted the designation makes similarprovisions to allow a person who holds a valid license issued by this stateto obtain such foreign authority's comparable designation; and

(2) The foreign designation:

(a) Was duly issued by a foreign authority that regulates thepractice of public accounting and the foreign designation has not expiredor been revoked or suspended;

(b) Entitles the holder to issue reports upon financial statements;and

(c) Was issued upon the basis of educational, examination andexperience requirements established by the foreign authority or by law; and

(3) The applicant:

(a) Received the designation based on educational and examinationstandards substantially equivalent to those in effect in this state at thetime the foreign designation was granted;

(b) Completed an experience requirement substantially equivalent tothe requirement set out in subdivision (6) of subsection 1 of section326.280 in the jurisdiction which granted the foreign designation or hascompleted four years of professional experience in this state, or meetsequivalent requirements prescribed by the board by rule within the tenyears immediately preceding the application; and

(c) Passed a uniform qualifying examination in national standards andan examination on the laws, regulations and code of ethical conduct ineffect in this state acceptable to the board.

9. An applicant pursuant to subsection 8 of this section shall listall jurisdictions, foreign and domestic, in which the applicant has appliedfor or holds a designation to practice public accounting. Each holder of alicense issued pursuant to this subsection shall notify the board inwriting within thirty days after its occurrence of any issuance, denial,revocation, suspension or any discipline of a designation or commencementof a disciplinary or enforcement action by any jurisdiction.

10. The board has the sole authority to interpret the application ofthe provisions of subsections 8 and 9 of this section.