Indiana § 25-2.1-5-4 Application for initial permit; demonstration of firm member
qualifications

Indiana Statutes

§ 25-2.1-5-4 — Application for initial permit; demonstration of firm member qualifications

Indiana § 25-2.1-5-4

Title 25PROFESSIONS AND OCCUPATIONS

Art. 2.1ACCOUNTANTS

Ch. 5Permits for Firms

This text of Indiana § 25-2.1-5-4 (Application for initial permit; demonstration of firm member qualifications) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 25-2.1-5-4 (2026).

Text

(a)An applicant for initial issuance or renewal of a permit to practice under this chapter must show that:

(1)a simple majority of the ownership of the firm, in terms of financial interests and voting rights of all partners, officers, shareholders, members, or managers, belongs to holders of an active CPA certificate issued under this article or a corresponding certificate that is issued after examination by another state; and

(2)the partners, officers, shareholders, members, or managers whose principal place of business is in Indiana and who practice accountancy in Indiana hold a valid CPA certificate issued under this article.

(b)For firms of public accountants, at least a simple majority of ownership of the firm, in terms of financial interests and voting rights, must belong to publ

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(a) An applicant for initial issuance or renewal
of a permit to practice under this chapter must show that:
(1) a simple majority of the ownership of the firm, in terms of
financial interests and voting rights of all partners, officers,
shareholders, members, or managers, belongs to holders of an
active CPA certificate issued under this article or a corresponding
certificate that is issued after examination by another state; and
(2) the partners, officers, shareholders, members, or managers
whose principal place of business is in Indiana and who practice
accountancy in Indiana hold a valid CPA certificate issued under
this article.
(b) For firms of public accountants, at least a simple majority of
ownership of the firm, in terms of financial interests and voting rights,
must belong to public accountants certified under IC 25-2.1-6.
(c) A firm issued a permit under this section may include
nonlicensee owners if:
(1) the firm designates a licensee who is responsible for the
proper registration of the firm and identifies that individual to the
board;
(2) all nonlicensee owners are active individual participants in the
CPA or PA firm or affiliated entities; and
(3) the firm complies with the other requirements that the board
may impose by rule.
(d) An individual licensee who is responsible for supervising attest
or compilation services and signs or authorizes an individual to sign the
accountant's report on behalf of the firm shall meet the competency
requirements set out in the professional standards adopted by the board
for the services.
(e) An individual licensee who signs or authorizes an individual to
sign the accountant's report on behalf of the firm shall meet the
competency requirement of subsection (d).