In State Firm Licensing Requirements
The Kentucky Board of Accountancy licenses firms and individual CPAs. A firm may take the form of a sole proprietorship, a professional service corporation, a partnership, a limited liability company, or any other business form allowed by law.
Initial Licensing Procedures
Sole Proprietors practicing public accounting must obtain a firm license. Complete and return the Sole Proprietor Firm Application
with a check payable to the Kentucky State Board of Accountancy in the amount of $100.
CPA Firms practicing as an LLP, LLC, PSC, etc. must submit an In State Firm Application
with a check made payable to the Kentucky State Board of Accountancy in the amount of $100 for a two-year license.
Firms may practice public accounting in Kentucky through the various entities authorized by the laws that regulate business entities and the provisions of KY Revised Statutes Chapter 325. In general all these entities, with a few exceptions, must be registered with the Kentucky Secretary of State's Office prior to registering with the Board of Accountancy. Submit a copy of your approved registration from the Secretary of State
with the application.
To register a Branch Office located in Kentucky, download the Firm Change Form
. There is no fee for branch office registrations and it's not required that a CPA be present at this office at all times.
Mandatory peer review exists for all firms performing any attest services, which include audits, reviews and all compilations. Every firm that provides one or more of these services must enroll in a peer review program and provide the Board with proof of enrollment. Following completion of your peer review, you are required to submit a copy of your peer review report and acceptance letter to the Kentucky State Board of Accountancy.
Every firm must become enrolled in an approved peer review program prior to performing any attest services. The approved peer review program in Kentucky is operated by the Kentucky Society of CPAs
. The contact person is Julie Salvaggio, Peer Review Manager, KSCPA, 1735 Alliant Ave., Louisville, KY 40299, (502) 736-1360.
Changes to Firm Licensing Information
The firm manager shall notify the Board on a Firm Change Form
of any change in the firm's address, ownership, CPA owners/partners who are admitted or leave the firm, etc. or closing of a firm within thirty days of the occurrence.
If a firm consists of only two CPA owners, upon the death or retirement of an owner the firm may request a period of up to two years to continue use of the firm name. It should be noted that retirement means complete retirement, not withdrawal from the firm.
Firm License Renewals
In July of 2016 all firms will be required to renew their license through the use of an online process. The fee will be $100 if renewed on or before August 1, 2016. If the firm license is not renewed by August 1 the license will expire and the firm shall immediately cease practicing. However the firm license may still be renewed online until September 1, 2016 but the fee will increase to $200.