Practice Privileges.
General Requirement (Available at S.C. Code Ann. § 40-2-245) An out-of-state applicant whose principal place of business is outside of South Carolina is presumed to have qualifications substantially equivalent to South Carolina's requirements and may exercise all the privileges of licensees of South Carolina without the need to obtain a license if the individual: - Holds a valid license as a CPA from a substantially equivalent jurisdiction as set out in S.C. Code Ann. § 40-2-20(33) and can lawfully practice in the jurisdiction where privileges have been granted.
- Notwithstanding any other provision of law, an individual who offers or renders professional services, whether in person or by mail, telephone, or electronic means pursuant to practice privileges in this State subject to the jurisdictional requirements below.
- No notice, fee, or other submission may be required of the individual.
- Note: South Carolina defines "Substantial Equivalency" to include 150 semester hours and one year of acceptable experience and successful completion of the Uniform CPA Exam. It also deems any jurisdiction substantially equivalent if found to be substantially equivalent by NASBA's National Qualification Appraisal Service.
An individual licensee or holder of a permit to practice of another state exercising practice privileges and the firm that employees that licensee simultaneously consents, as a condition of exercising this privilege: - To the personal and subject matter jurisdiction and disciplinary authority of the South Carolina Board;
- To comply with the provisions of the law and the regulations promulgated pursuant to this privilege;
- That in the event the license or permit to practice from the state of the individual's principal place of business is no longer valid, to cease offering or rendering professional services in South Carolina individually and on behalf of a firm; and
- To have an administrative notice of hearing served on the board in the individual's principal state of business in any action or proceeding by the South Carolina Board against the licensee.
Out-of-State Firms Firms that do not have an office in South Carolina may engage in the practice of accounting, without obtaining a registration pursuant to S.C. Code Ann. § 40-2-40. Firms that do not have an office in South Carolina may perform attest services as defined in S.C. Code Ann. § 40-2-20(2) for a client in South Carolina, may engage in the practice of accounting and may use the title “CPA” or “CPA Firm” only if the firm: - Has the qualifications described in S.C. Code Ann. § 40-2-40 (C) and S.C. Code Ann. § 40-2-255(C);
- Performs these services through an individual with practice privileges under S.C. Code Ann. § 40-2-245; and
- Can lawfully perform these services in the State where the individual with practice privileges under S.C. Code Ann. § 40-2-245 has his principal place of business.
- Note: South Carolina defines “Principal place of business" as the office location designated by a licensee for the purposes of substantial equivalency and reciprocity.
- Note: South Carolina defines “Attest” as providing the following services:
- any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS);
- any review of a financial statement to be performed in accordance with the Statements on Standards for Accounting and Review Services (SSARS);
- any examination of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements (SSAE);
- any engagement to be performed in accordance with Public Company Accounting Oversight Board (PCAOB) Auditing Standards; or
- any examination, review, or agreed upon procedure to be performed in accordance with the SSAE, other than an examination described the SSAE section.
For mobility purposes, "CPA license" means a CPA license granted by the state board after all education, exam and experience requirements have been met. A CPA performing services through mobility may only perform the same level of services (attest or non-attest) in the mobility jurisdiction as he or she is permitted to perform in the home jurisdiction. Please note the following if you are coming from one (1) of the jurisdictions listed: - An Alabama certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- A Connecticut certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- An Illinois certificate or registered certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- Both a Hawaii CPA license and permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- A Kansas certificate holder may not hold out or practice as a CPA in a mobility jurisdiction.
- Both a Nebraska CPA certificate and permit are required in order to hold out or practice as a CPA in a mobility jurisdiction.
- An Oklahoma registrant must hold an active permit In order to hold out or practice as a CPA in a mobility jurisdiction.
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