[thehip41]

Forgive this old Ninja alum, haven’t studied for over 6 years and I’m rusty!

If an accounting firm, owned by one person, that person is an EA, no other owners.

There are two CPAs on staff.

Can this firm perform any of the following?

Audits
Reviews
Compilations

Thanks everyone

FAR - 83
AUD - 73 92
BEC - 83
REG - 88

Licensed CPA in the state of Michigan

[Recked]

Ooh good question.
I think this might depend on the state regs, as to whether either of the 2 CPAs are qualified to complete any of those engagements.
The owner presumably could not sign and accept responsibility, but perhaps if one of the CPAs were the signer?

[turo9992000]

If I was one of those CPAs I would try to negotiate a partnership agreement and start generating that type of business. In CA for instance the firm has to be 51% owned by CPAs in order to issue financial statements.

[Author]

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