For purposes of part 1105.4200 and Minnesota Statutes, sections 326A.05, subdivision 1, and 326A.14, subdivision 1, a client is considered to have its headquarters in this state if the location specified by the client as the address to which a service is directed is located in this state. In addition, a client is considered to have its headquarters in this state if:
the client has its headquarters, home office, or principal place of business located within this state;
the client is a subsidiary or affiliate of another entity that does not have its headquarters in this state, but the client subsidiary or client affiliate does have its headquarters in this state and enters into an agreement with a CPA firm to provide attest services;
the CPA firm's engagement letter or agreement to provide attest services is with a client located within this state; or
the client is a subsidiary or affiliate of another entity that does not have its headquarters in this state, but the client subsidiary or client affiliate is located within this state and the CPA firm is engaged, either directly or indirectly, to provide attest services and issue a report on the financial statements of the entity located within this state.
Upon a request from the board, a firm not holding a permit in this state shall provide to the board documentation obtained from its client supporting the determination that the address to which a service is directed is not located in this state and shall provide other requested documentation supporting such determination.
For purposes of determining whether a firm permit is required for a firm that does not have an office in this state, the board can make a determination, based on the documentation provided by the firm in item B and other information regarding the location and ownership structure of the client obtained from other state agencies, that a client has its headquarters in this state.
MS s 326A.02
September 18, 2008
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