(1) (a) (I) No person, partnership,
professional corporation, or limited liability company shall issue, author, or publish
any opinion or certificate relating to any accounting or financial statement if the
opinion or certificate utilizes any title or designation, the use of which is prohibited
by law.
(II) A person, partnership, professional corporation, or limited liability
company shall not, without an active certificate of certified public accountant or a
valid registration:
(A) As an independent auditor, make or conduct an investigation,
examination, or audit of the financial statements or supporting records of any
person, organization, or corporation, to determine the accuracy or fairness with
which they present the financial position, changes in financial position, or financial
results of operations of the person, organization, or corporation;
(B) Attest or express an opinion, as an independent auditor, as to the
financial position, changes in financial position, or financial results of the operation
of any person, organization, or corporation, or as to the accuracy or reliability of any
financial information contained in any such accounting or financial statement;
(C) Offer audit or attest services to the public if the person uses a title or
designation specified in section 12-100-112 (4)(c);
(D) Establish, participate in, or promote a business that uses a title or
designation specified in section 12-100-112 (4)(c) in its marketing if the business is
not currently registered pursuant to this article 100; or
(E) Notwithstanding any provision of this section to the contrary, offer or
render tax services to the public while using a title or designation specified in
section 12-100-112 (4)(c), unless doing so within a partnership, professional
corporation, or limited liability company of certified public accountants that holds a
registration or permit issued by the board of this state or another state.
(III) The requirement in subsection (1)(a)(II) of this section that a person,
partnership, professional corporation, or limited liability company have an active
certificate of certified public accountant or a valid registration issued by the board
shall not apply to a certified public accountant from another state or a foreign
partnership, professional corporation, or limited liability company practicing
accountancy in this state pursuant to section 12-100-117 (2).
(b) The provisions of subsection (1)(a) of this section shall not prohibit any
officer or employee of a corporation, partner or employee of a partnership, member
or employee of a limited liability company, or individual or employee of an individual
from:
(I) Making or conducting the investigation, examination, or audit; or
(II) Issuing or authoring an assessment or certificate utilizing any wording
designating the position, title, or office that the person holds concerning the
financial affairs of the corporation, partnership, limited liability company, or
individual.
(c) The provisions of subsection (1)(a) of this section shall not prohibit any act
of a public official or public employee in the performance of his or her duties as
such or affect the qualifications of any person to testify as a witness before any
court or administrative agency of the state of Colorado who is determined to be
qualified by the court or agency.
(d) The term independent auditor as used in this section shall mean any
person or corporation engaged or employed to make or conduct an audit of the
financial statements or supporting records of any person, organization, or
corporation, to determine, on the basis of the audit, the accuracy or fairness with
which they present the financial position, changes in financial position, or financial
results of operations of the person, organization, or corporation, other than an
officer, employee, or partner of the person, organization, or corporation under audit.
(e) Except as set forth in subsection (1)(a)(II)(E) of this section, subsection
(1)(a) of this section does not prohibit the performance by persons other than
certified public accountants of other services involving the use of accounting skills,
including the preparation of tax returns and the preparation of financial statements
without the expression of opinions or assurances on the returns or statements.
(2) Except as set forth in subsection (1)(a)(II)(E) of this section, nothing in this
section shall be construed to prohibit any person from preparing or assisting in the
preparation of any report or tax return to any agency of the federal, state, or local
government or other political subdivision if the preparation or assistance is
otherwise permissible under law or under the regulations of the agency or from
affixing the signature of the person or firm so preparing or assisting in the
preparation of the report or return to the report or return.