Oregon Administrative Code

801-010-0085 Holders of Foreign Licenses, Certificates, Credentials or Degrees (1) The Board recognizes the International Qualifications Appraisal Board (IQAB), a joint body of NASBA and AICPA. IQAB is charged with: (a) Evaluation of the foreign credential equivalency and profess…

801-010-0090 Servicemember, Spouse or Domestic Partner Practice Permit (1) If a servicemember or the spouse or domestic partner of a servicemember has a covered license as defined in section (3) of this rule and relocates residence because such servicemember receives military ord…

801-010-0100 Public Accountant Licenses (1) Application requirements. Applicants for the license of public accountant must submit the following: (a) A completed application on a form as provided from the Board; (b) Evidence of passing the Financial Accounting and Reporting, Taxat…

801-010-0110 Renewal of License (1) Unless properly renewed, active, inactive and retired licenses that end in even numbers expire on June 30 of even-numbered years and licenses that end in odd numbers expire on June 30 of odd-numbered years. To renew an active, inactive or retir…

801-010-0115 Resignation of License by Licensee (1) Resigning licenses that are not the subject of pending complaints or Board investigations. A certified public accountant or public accountant may resign and surrender a license, by submitting a written resignation, together with…

801-010-0119 Retired Licensee Status (1) An Oregon CPA or PA licensee that is not expired, revoked or suspended can apply for retired status when that licensee has held an active CPA or PA license in good standing for a combined period of not less than 20 years. (2) A Retired Lic…

801-010-0120 Inactive Licensee Status (1) An Oregon CPA or PA that is not expired, suspended or revoked can apply for inactive status. (2) An Inactive Licensee cannot: (a) Practice public accountancy; (b) Hold an ownership interest in a registered CPA or PA firm; or (c) Be a sole…

801-010-0121 Ability of Inactive and Retired Status Licensees to Serve as Trustee of a Trust or a Court Appointed Receiver, Trustee, Guardian, Conservator, or Personal Representative of an Estate. Notwithstanding the limitations set forth above, inactive and retired status licens…

801-010-0130 Reinstatement Requirements: Lapsed, Suspended, Retired or Inactive to Active Status. (1) CPE Requirements applicable to all reinstatements. (a) CPE taken for reinstatement purposes must comply with the CPE requirements in Division 40 of the Board’s CPE rules, includi…

801-010-0140 Restoration of an Expired Permit (1) A permit that is not renewed for six years after the close of the permit period expires pursuant to ORS 673.150(3). The Board may restore an expired permit upon determination of just cause pursuant to ORS 673.150(4). The determina…

801-010-0170 Publication of Disciplinary Action The Board in its discretion will publicize disciplinary action taken under ORS 673.170 in such manner and for such period as it may direct. Statutory/Other Authority: ORS 673.410 Statutes/Other Implemented: ORS 673.170 History: BOA …

801-010-0340 Non-CPA and Non-PA Ownership of Business Organizations (1) Requirements of non-CPA or non-PA ownership. The ownership of a business organization, defined in ORS 673.010 and registered as a firm under ORS 673.160 and OAR 801-010-0345, that is lawfully engaged in the p…

801-010-0345 Registration of Business Organizations (1) Requirement to register as a firm. A business organization organized for the practice of public accountancy that is located in Oregon or serving Oregon clients, must register with the Board as a firm if the business organiza…

801-020-0620 Bidding and Contracting for Municipal Audits (1) Municipal Roster. The Oregon Board of Accountancy is authorized by ORS 297.670 to prepare and maintain the Municipal Roster of licensees who are authorized to conduct municipal audits required by ORS 297.425. (2) Requi…

801-020-0690 Qualifications for Admission to Municipal Roster (1) Eligibility. The following licensees are eligible to apply for admission to the municipal roster: (a) Individuals holding an active CPA permit issued under ORS 673.150; (b) Individuals holding an active PA license …

801-020-0700 Qualifications for Continuance on Roster (1) Renewal. The renewal of authorization to conduct municipal audits is accomplished with the licensee's biennial renewal. Licensees who wish to renew authorization to conduct municipal audits must include the following infor…

801-020-0720 Removal, Suspension and Reinstatement to the Municipal Roster (1) Removal. Licensees may be removed from the municipal roster for the following reasons: (a) Failure to pay the biennial fee required by OAR 801-020-0700; (b) Failure to complete the required CPE describ…

801-030-0005 Professional Conduct (1) Independence. The Board adopts the Independence Rules in the Code of Professional Conduct established by the AICPA. The AICPA Interpretations and Ethics Rulings on Independence are adopted as non-exclusive guidance to licensees, prospective l…

801-030-0010 General and Technical Standards (1) General Standards. Licensees shall comply with the following general standards. (a) Professional Competence. Licensees shall undertake only those professional services that the licensee or the licensee’s firm can reasonably expect …

801-030-0015 Confidential Client Information (1) Confidential client information. A licensee will not disclose any confidential client information unless the licensee has obtained the written consent of the client, or others legally authorized to give such consent on behalf of th…

801-030-0020 Other Responsibilities and Practices (1) Professional misconduct. (a) A licensee shall not commit any act or engage in any conduct that reflects adversely on the licensee's fitness to practice public accountancy. (b) Professional misconduct may be established by refe…

801-030-0030 Records (1) Records. A licensee will furnish to a client or former client within 60 days of the request, regardless of unpaid fees, upon request made by the client or former client within seven years after the issuance of the document: (a) Copy of a tax return; (b) C…

801-030-0040 Notification to Clients (1)(a) Licensees transferring to a new Firm, leaving the practice of public accountancy, or selling their practice must notify clients within 60-days of transition by providing: (A) The name and location of where the client may retrieve their …

801-040-0010 Basic Requirements (1) Biennial CPE requirement for Active licensees. Each biennial renewal period, certified public accountants and public accountants must report satisfactory evidence of having completed 80 hours of continuing professional education (CPE) unless su…

801-040-0020 Controls and Reporting Reporting requirement. As a requirement for renewal of an active license, licensees are required to certify that the licensee has fulfilled the CPE requirement by signing or electronically affirming the certification section on the renewal form…

801-040-0030 Programs that Qualify for CPE Credit (1) Qualifying programs. In order to qualify for CPE credit under these rules, a CPE program must be a formal program of learning that contributes directly to the professional competence of the licensee. It is the obligation of ea…

801-040-0040 Acceptable Subject Matter (1) Examples listed not all-inclusive. The subjects listed in this rule serve as examples only, and are not all inclusive of technical and non-technical subjects that may qualify for CPE credit. (2) Technical subjects. Qualified continuing e…

801-040-0050 Credit Allowed and Evidence of Completion (1) Credit hours. Eligible CPE credit is measured by program length with one 50 minute period equal to one CPE credit. CPE credits can be awarded in one-fifth increments or in one-half increments (0.5, 1.0, x.2, x.4, x.5, x.6…

801-040-0070 CPE Audit (1) The Board may audit CPE reports submitted by licensees. When a licensee is selected for audit of CPE hours, licensees are required to submit the following: (a) All appropriate documentation that confirms attendance of all CPE programs and the number of …

801-040-0100 New Licenses/Reinstated Licenses (1) CPE Requirement (a) Licensees who receive an initial license to practice public accountancy shall comply with the CPE requirements from the date of issuance of the license on a prorated basis of ten (10) hours of CPE as described …

801-040-0150 Waivers (1) CPE waivers. The Board, in its discretion, may waive CPE requirements for: (a) Reasons of health, certified by a medical doctor, that prevent the licensee from complying with CPE requirements; (b) A licensee who is on extended active military duty, who do…

801-040-0160 Failure to Comply (1) CPE Penalty (a) Active Licensees. Licensees who submit an application for renewal of an active license and who do not comply with the CPE requirements described in OAR 801-040-0010 are required to complete and report an additional 16 hours of qu…

801-050-0005 Purpose (1) The purpose of peer review is to monitor firm compliance with applicable accounting and auditing standards promulgated by generally recognized standard setting bodies. (2) The Peer Review requirement established by the Board shall emphasize education and …

801-050-0010 Definitions As used in OAR 801-050 the following terms have the following meanings: (1) Acceptance of Engagement: The date the engagement letter is signed by the client. (2) Peer Review Board: The Peer Review Board is responsible for maintaining, promoting and govern…

801-050-0020 Peer Review Enrollment and Participation in Peer Review Program (1) Enrollment Requirement. Every firm that performs attest as defined by OAR 801-005-0010(4) or compilation as defined by 801-005-0010(14) services in Oregon or for Oregon clients, is required to partic…

801-050-0030 Peer Review Oversight Program (PROC) (1) The Board shall: (a) Establish standards for approved peer review programs; (b) Review sponsor applications for peer review programs for approval; (c) Consider reports from the PROC; (d) Take appropriate actions to carry out t…

801-050-0035 Peer Review Oversight Committee Responsibilities (1) Approval of sponsor applications. The PROC shall review applications received from sponsors of peer review programs and recommend approval or disapproval of such applications. (2) On behalf of the Board, the PROC s…

801-050-0040 Reporting Requirements (1) Reporting Enrollment in Peer Review Program. Every firm is required to provide the following information in writing with every application for registration and renewal of registration: (a) Certify whether the firm is or is not required to p…

801-050-0060 Confidentiality Client records that are received in the course of a peer review shall be treated as confidential in accordance with the provisions of Oregon Public Records Law (ORS Chapter 192). Statutory/Other Authority: ORS 673.455 & OL 2001, Ch. 638 & Sec. 12 Stat…

801-050-0065 Document Retention (1) Documents created by the sponsor of an approved peer review program and Peer Reviewer shall be retained by the sponsor for a period of time corresponding to the designated retention period of the sponsor. In no event shall the retention period …

801-050-0070 Application for Administration of Peer Review Program (1) Application. Applications for administration of a peer review program shall be submitted to the Board in writing and shall be accompanied by materials describing the operation of the proposed peer review progr…

801-050-0080 Minimum Standards for Peer Review Programs (1) Peer review programs must inform the firm of the results and include procedures as appropriate to the type of review being conducted, that assure a firm that the firm’s system of quality control is appropriately designed…

801-060-0010 Definitions (1) "Eligible Student" means an individual who meets the scholarship grant program eligibility requirements under OAR 801-60-0030, is currently enrolled at an eligible institution, and meets all other eligibility criteria established by rule or under the …

801-060-0020 Grant Requirements (1) The Board of Accountancy may make grants up to the amount approved in its legislatively approved budget for making grants under the Oregon Board of Accountancy Pipeline Scholarship Grant Program to one or more nonprofit entities to be used to p…

801-060-0030 Eligible Students An eligible student is one enrolled at an eligible institution who: (1) Is currently enrolled in classes totaling at least six (6) quarter or semester credit hours per term; (2) Demonstrates financial need under the same standard as is required for …

801-060-0040 Residency Requirements For a student to be eligible for a scholarship under the scholarship grant program the student must: (1) Be a U.S. Citizen, or an eligible non-citizen as defined by federal regulations under Title IV, part B of the Higher Education Act of 1965 …

801-060-0050 Application/Selection Procedures (1) Applicants for a scholarship under the scholarship grant program must complete and submit the Free Application for Federal Student Aid or its equivalent. (2) Applicants must submit a scholarship application form, as specified by t…

801-060-0060 Scholarship Amounts Scholarships awarded to eligible students may be an amount up to the cost of attendance at the eligible institution but no more than $5,000 per student, per academic year for attendance at a university, and no more than $3,000 per student, per aca…

801-060-0070 Conditions of Award (1) Except as provided in section (2) below, the maximum period of scholarship eligibility for eligible students may not exceed six (6) academic years of undergraduate or graduate level study. (2) Students who need to exceed the time limitations i…

801-060-0080 Grantee Reporting Requirements (1) Grantees receiving a scholarship grant program grant must collect data and other information specified by the Board of Accountancy related to the scholarship grant program and report that information to the board annually or as othe…