| (a) Acceptable supervision must be performed by a CPA
experienced in the non-routine accounting area assigned to an applicant
and who holds an active license or permit in this state or another
state and has not been exempted from the board's CPE during the period
of supervision. If the applicant's work experience and CPA supervision
is gained through the client practice of public accountancy, as defined
in §511.122 of this chapter (relating to Acceptable Work Experience),
the CPA and the CPA firm must be properly licensed and in good standing
with the licensing board where the applicant performs the work experience.
(1) Supervision is provided whenever the person being
supervised reports to, is instructed by, is reviewed by, and is evaluated
directly by the supervisor. The supervisor in this capacity may be
in an intermediate level of supervision above the applicant.
(2) Where there is no CPA, acceptable supervision may
be gained if the following conditions are met:
(A) a properly licensed CPA firm that is in good standing
with the firm's licensing board is engaged to provide supervision,
review, and evaluation of work experience; and
(B) the supervision, review, and evaluation of work
is performed on a routine and recurring basis to permit the CPA firm
to provide documentation of work experience;
(C) the CPA firm does not perform attest services for
which independence is required for the applicant or the applicant's
employer; and
(D) the CPA assigned to provide the supervision is
employed by the CPA firm and is currently licensed and in good standing
with the firm's licensing board and experienced to provide such supervision
in the non-routine accounting area assigned to the applicant.
(3) Telecommunications equipment and computers may
be used to facilitate supervision. The board requires detailed documentation
if such devices are used to facilitate supervision.
(b) It is the responsibility of an applicant to document
that supervision was adequate and effective in any situations inconsistent
with the above examples.
|
| Source Note: The provisions of this §511.124 adopted to be effective September 14, 1990, 15 TexReg 5022; amended to be effective April 24, 1996, 21 TexReg 3186; amended to be effective February 12, 2003, 28 TexReg 1186; amended to be effective August 8, 2012, 37 TexReg 5776; amended to be effective April 18, 2018, 43 TexReg 2274; amended to be effective June 2, 2021, 46 TexReg 3409 |
