ORS Chapter 673 - Oregon Statutes

Chapter 673 — Accountants;Tax Consultants and Preparers

 

2009 EDITION

 

 

ACCOUNTANTS;TAX CONSULTANTS AND PREPARERS

 

OCCUPATIONSAND PROFESSIONS

 

ACCOUNTANTS

 

(Generally)

 

673.010     Definitionsfor ORS 673.010 to 673.457; rules

 

673.012     Rulesdefining certain terms

 

673.015     Statementof public interest in regulating practice of accountancy

 

(Authorityto Practice Public Accountancy)

 

673.040     Eligibilityfor certificate of certified public accountant; experience requirement;issuance of certificate to licensee from other state or country; fee; rules

 

673.050     Generalqualifications for candidates for C.P.A. examination; rules

 

673.060     C.P.A.and public accountant examination; scope; conduct; fee

 

673.075     Creditfor examination sections taken in other states

 

673.100     Licenseas public accountant; application; rules; fee

 

673.103     Publicaccountant audits prohibited; exception

 

673.138     Liabilityof persons operating in certain registered business organization

 

673.150     Permitsto engage in practice of public accountancy; permit renewals; fees; rules

 

673.153     Holdersof licenses issued by other states; fees

 

673.160     Registrationof business organizations; exceptions; fees; rules

 

673.165     Continuingeducation; types of programs; hours; waiver; rules

 

673.170     Disciplinaryactions; grounds; costs

 

673.173     Ceaseand desist orders

 

673.175     Reviewof statement or report prepared by accountant required by consent agreement;liability of accountant performing review

 

673.185     Procedurefor disciplinary actions and adoption of rules; continuing authority of board

 

673.210     Reissuanceof revoked or suspended licenses

 

673.220     Inactivestatus; conditions; rules; roster; fees

 

673.310     Wordsor abbreviations of similar import to certified public accountant, publicaccountant, C.P.A. or P.A. prohibited

 

(Practiceof Accountancy)

 

673.320     Requirementsfor providing attestation or compilation services or issuing report;exceptions; use of terms certified public accountant, public accountant, C.P.A.or P.A.; exceptions

673.325     Statementallowed without permit or authorization

 

673.345     Paymentor acceptance of commissions; contingent fees; referral fees; rules

 

673.350     Applicationof ORS 673.010 to 673.457 to employees of registered business organizations

 

673.360     Injunctions

 

673.370     Actsconstituting prima facie evidence that person is authorized to use wordscertified public accountant or public accountant

 

673.380     Dispositionof statements, records, schedules, working papers and memoranda of licensee

 

673.385     Disclosureof client information prohibited; exceptions

 

673.390     Solicitationpermitted

 

(CivilPenalties)

 

673.400     Civilpenalties

 

(OregonBoard of Accountancy)

 

673.410     OregonBoard of Accountancy; confirmation; qualifications; enforcement authority

 

673.415     Furnishingof signature block of income tax return or report by Department of Revenue; useof information; unlawful disclosure

 

673.440     Compilationof laws and rules; availability

 

673.445     Codeof professional conduct; accounting standards; rules

 

673.455     PeerReview Oversight Committee; alternative peer review programs; review of personsand business organizations performing attestation or compilation services

 

673.457     Reviewby alternative peer review program; right of Oregon Board of Accountancy toconduct review

 

673.465     Authorityof Oregon Board of Accountancy to require fingerprints

 

TAXCONSULTANTS AND TAX PREPARERS

 

(Generally)

 

673.605     Definitionsfor ORS 673.605 to 673.740

 

673.610     Applicationof ORS 673.605 to 673.740

 

673.615     Prohibitedacts; preparation of tax returns; refund anticipation loans

 

(Licensing)

 

673.625     Qualificationsfor tax consultant and tax preparer; examination

 

673.630     Taxconsultant’s application

 

673.635     Taxpreparer’s application

 

673.637     Licensingof person licensed in another state or enrolled to practice before InternalRevenue Service; requirements

 

673.640     Issuanceof licenses

 

673.643     Preparationof tax returns by corporation, firm or partnership; requirements; liability;prohibitions

 

673.645     Renewalof licenses; restoration of lapsed license

 

673.655     Continuingeducation requirement; waiver

 

673.660     Licensesto be displayed

 

673.663     Useof title “tax consultant”

 

673.667     Inactivestatus; application; renewal; reactivation; revocation or suspension;prohibition; rules

 

673.685     Fees;rules

 

673.690     Taxconsultant’s records

 

673.695     Secretaryof State as agent for service of process against nonresident; fee

 

673.697     Continuingauthority of board

 

673.700     Disciplinaryaction; grounds

 

673.705     Prohibitedacts

 

673.710     Namesof tax preparers and other information furnished by Department of Revenue; useof information

 

(RefundAnticipation Loans)

 

673.712     Refundanticipation loan disclosures

 

673.715     Localgovernment regulation of refund anticipation loans prohibited; preemption

 

(StateBoard of Tax Practitioners)

 

673.725     StateBoard of Tax Practitioners; term;

                  qualification

 

673.730     Powersof board; rules

 

673.732     Ceaseand desist orders

 

673.735     Civilpenalties

 

673.740     Educationalprogram as remedy

 

CRIMINALPENALTIES

 

673.990     Criminalpenalties

 

ACCOUNTANTS

 

(Generally)

 

      673.010Definitions for ORS 673.010 to 673.457; rules. As used in ORS673.010 to 673.457:

      (1)“Attestation services” means the following professional services required to beperformed under rules adopted by the Oregon Board of Accountancy pursuant toORS 673.445 as follows:

      (a)An audit or other engagement for which performance standards are included inthe Statements on Auditing Standards (SAS);

      (b)Review of a financial statement for which performance standards are included inthe Statements on Standards for Accounting and Review Services (SSARS);

      (c)Examination of prospective financial information for which performancestandards are included in the Statements on Standards for AttestationEngagements (SSAE); and

      (d)Engagements for which performance standards are included in the AuditingStandards of the Public Company Accounting Oversight Board.

      (2)“Business organization” means any form of business organization authorized bylaw, including but not limited to a proprietorship, partnership, corporation,limited liability company, limited liability partnership or professionalcorporation.

      (3)“Certificate” means a certificate of certified public accountant issued underORS 673.040.

      (4)“Client” means a person who agrees with a licensee to receive any professionalservice from the licensee.

      (5)“Commission” means money or other consideration recognized as a commissionunder rules adopted by the board pursuant to ORS 673.012.

      (6)“Compilation services” means professional services required to be performed inaccordance with the Statements on Standards for Accounting and Review Services(SSARS) under rules adopted by the Oregon Board of Accountancy pursuant to ORS673.445 in which the person performing the services presents a financialstatement that:

      (a)Is based on the representation of the owner or management of the company forwhich the statement is presented; and

      (b)Does not include assurances by the person that the representations in thefinancial statement conform to generally accepted accounting principles.

      (7)“Contingent fee” means a fee established for the performance of anyprofessional service and directly or indirectly paid to a licensee pursuant toan arrangement in which no fee will be charged unless a specified finding orresult is attained, or in which the amount of the fee is otherwise dependentupon the finding or result of such service. A fee is not contingent if the fee:

      (a)Is fixed by courts or other public authorities; or

      (b)In tax matters, is determined based on the results of judicial proceedings orthe findings of governmental agencies.

      (8)“License” means:

      (a)A certificate, permit or registration, or a license issued under ORS 673.100,enabling the holder thereof to practice public accountancy in this state; or

      (b)A certificate, permit, registration or other authorization issued by ajurisdiction outside this state enabling the holder thereof to practice publicaccountancy in that jurisdiction.

      (9)“Licensee” means the holder of a license as defined in subsection (8)(a) ofthis section.

      (10)“Manager” means a manager of a limited liability company.

      (11)“Member” means a member of a limited liability company.

      (12)“Peer review” means a study, appraisal or review of one or more aspects of thepublic accountancy work of a holder of a permit under ORS 673.150, or of aregistered business organization that performs attestation or compilationservices, that is conducted by:

      (a)A certified public accountant who holds an active permit issued under ORS673.150 or an active license issued by the licensing authority for the practiceof public accountancy in another state and who is independent of the permitholder or registered business organization being reviewed; or

      (b)A public accountant who holds an active permit issued under ORS 673.150 and whois independent of the permit holder or registered business organization beingreviewed.

      (13)“Permit” means a permit to practice public accountancy issued under ORS673.150.

      (14)“Principal place of business” means the office location designated by a personfor purposes of substantial equivalency and reciprocity.

      (15)“Professional” means arising out of or related to the specialized knowledge orskills associated with certified public accountants and public accountants.