§ 2-102

Maryland § 2-102

• Jurisdiction: Maryland
• Article gbo: Business Occupations and Professions
• Title: 2

Text

(a) If the person does not engage in any activity expressly included in the definition of practice certified public accountancy, this title does not prohibit:

(1) an individual from serving as an employee of or assistant to a licensee or permit holder;

(2) a public official or public employee from performing the duties of the position of that individual; or

(3) a person from providing or offering to the public bookkeeping and accounting services, including:

(i) development or installation of a bookkeeping system;

(ii) recordation or presentation of financial information;

(iii) preparation of:

1. a financial statement;

2. a compilation of a financial statement that:

A. does not reference the Statements on Standards for Accounting and Review Services issued by AICPA; and

B. expressly states that the person has not undergone and is not required to undergo peer review;

3. a report;

4. a schedule; or

5. an exhibit; or

(iv) any similar activity.

(b) This title does not prohibit a licensee or permit holder from:

(1) employing a certified public accountant licensed by another state or a foreign country; or

(2) listing that individual as a certified public accountant, if the individual qualifies for a practice privilege under § 2–321 of this title.

(c) The Board shall adopt regulations that specify the language of the disclosure statement relating to exemption from peer review that is required to be included in a compilation of a financial statement prepared under subsection (a)(3)(iii)2 of this section.