Section 338.5140. Permit for temporary practice.

(1) An accountant who does not qualify for practice privileges under MCL 339.727a nor hold a license to practice public accounting in this state shall obtain a permit and pay the appropriate fee for each engagement in this state by this accountant, or on behalf of his or her firm, who does not hold a license to practice public accountancy in this state. The applicant shall hold a license as a certified public accountant of another state, or hold a title from a foreign country, recognized by the board as comparable to the Michigan certificate of certified public accountant and shall be practicing public accountancy under the certificate or license in the grantor state or country.

(2)    If approved by the department, the term of the permit shall begin on the date approved unless otherwise specified and shall be for a specified period, but shall not be for more than 1 year.

(3)   The temporary practice shall be performed by, or under the direct supervision of, a licensed certified public accountant, an individual with practice privileges under to MCL 339.727a or the holder of a title from a foreign country who is recognized under subrule

(1)  of this rule.

(4)     A temporary permit is not required if the work relates to a Michigan-based division or subsidiary of an entity, if the parent entity is located in another state or foreign country and is a client of the certified public accountant, firm, or foreign accountant, and if a separate presentation of financial statements with a related independent auditor's report or review report, or an attestation regarding the reliability of a representation or estimate is not made for the division or subsidiary on a stand-alone basis.

(5)    A temporary permit is not required if the work is to be performed through the applicant's employer who presently holds the license to practice public accountancy in this state.

(6)   A temporary permit issued to an accountant shall also constitute a temporary permit for his or her firm, if his or her firm is not presently licensed in this state.

(7)    If another jurisdiction charges a fee for providing an affidavit or certificate of professional standing for determining whether the applicant is qualified to practice public accountancy temporarily in this state, then the applicant shall pay the fee.

History: 1979 AC; 1998-2000 AACS; 2007 AACS; 2013 AACS.