TSS3

Profession FAQ

Accountant

The following are answers to some frequently asked questions received by the Department of Safety and Professional Services. These questions and answers are general in nature and are provided as a public service. Licensees and applicants with specific questions should refer to the Wisconsin statutes and administrative code provisions which govern their profession. In any instance in which an answer may differ from the provisions of the statutes and administrative code provisions, the latter will govern.


If one of the owners of the CPA firm is not a CPA and the names of non-CPA owners may not be used in the firm name, are we allowed to use the term "and company" in the name to identify that other firm owners exist?

Ch Accy 1.405(2) , Wisc Admin Code states that no person engaged in practice as a CPA may use a business name or designation that is misleading as to the number of people in the firm. In order to use the term "and company" in a firm name, more than 50% of the ownership interest in the firm must be held by licensed CPAs. Merely employing another CPA who does not have equity in the firm is not sufficient.