Chapter 673 — Accountants; Other Tax Professionals

ORS 673.153 Holders of licenses issued by other states; fees

(1)

A holder of a license with a principal place of business in another state may practice public accountancy in this state if the holder has a license from another state that is of substantial equivalency, as defined in ORS 673.010 (21).

(2)(a)

A holder authorized under subsection

(1)

of this section meets this state’s requirements to practice public accountancy and has all the rights and privileges of certificate holders and licensees of this state without the need to obtain a certificate under ORS 673.040 or a permit under ORS 673.150.

(b)

The Oregon Board of Accountancy may not require, as a condition for practicing public accountancy under this section, an authorized holder to:

(A)

Provide notice that the holder practices or intends to practice public accountancy in this state;

(B)

Pay an annual fee for the authorization; or

(C)

Provide any other submission.

(3)

An authorized holder practicing public accountancy under this section is deemed to:

(a)

Consent to the personal and subject matter jurisdiction of the board;

(b)

Agree to comply with the requirements of ORS 673.010 to 673.465 and any rules adopted thereunder;

(c)

If the license under which the holder is authorized to practice public accountancy under this section is no longer valid, agree to immediately cease offering or rendering professional services in this state individually or on behalf of a business firm; and

(d)

Agree to the appointment of the other state’s licensing authority as the agent of the holder, upon whom process may be served in any action or proceeding by the board against the holder.

(4)(a)

A business organization that employs a holder authorized to practice public accountancy under this section is deemed to:

(A)

Consent to the personal and subject matter jurisdiction of the board;

(B)

Agree to comply with the requirements of ORS 673.010 to 673.465 and any rules adopted thereunder;

(C)

If the license under which the holder is authorized to practice public accountancy under this section is no longer valid, agree to require the following persons to immediately cease offering or rendering professional services in this state:

(i)

The holder; and

(ii)

Any other person who is employed by the business organization and who is offering or rendering professional services in this state pursuant to the holder being authorized to practice public accountancy under this section; and

(D)

Agree to the appointment of the licensing authority of the state issuing the license that is the basis of the holder’s authorization to practice public accountancy under this section as the agent of the business organization, upon whom process may be served in any action or proceeding by the board against the business organization that employs the holder during the time the holder is practicing public accountancy in this state.

(b)

For purposes of this subsection, a person practicing as a sole proprietor is a business organization.

(5)

A holder authorized to practice public accountancy under this section may not perform the following professional services for a business organization that has its home office in this state unless the business organization is registered under ORS 673.160:

(a)

Financial statement audits or other engagements to be performed in accordance with the Statements on Auditing Standards

(SAS);

(b)

Examinations of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements (SSAE); and

(c)

Engagements to be performed in accordance with the auditing standards of the Public Company Accounting Oversight Board.