Bill > HB46

This bill modifies regulations for certified public accounting (CPA) firms in Missouri, establishing new requirements for obtaining and maintaining permits to practice. The bill mandates that firms with an office in Missouri offering attest or compilation services must obtain a permit, and firms without a Missouri office can provide such services only if they meet specific conditions, including compliance with peer review requirements and practicing through an individual with practice privileges. Firms must register with the secretary of state and ensure that a majority of ownership belongs to licensed CPAs. The bill introduces detailed provisions for firm ownership, requiring that non-licensed owners be active participants and of good moral character. It also establishes rules about firm naming, requiring names that are not misleading about the firm's structure or personnel. The legislation requires firms to undergo peer reviews every three years, with strict confidentiality provisions protecting review documents. Additionally, the bill empowers the state board to oversee these requirements, including the ability to suspend or revoke permits if firms fail to maintain compliance. Firms must disclose their permit status in other states and notify the board of any significant changes in ownership or personnel within 30 days.

https://house.mo.gov/Bill.aspx?bill=HB46&year=2025&code=R