Municipal adviser requirements scaled back for CPAs

09/26/2013 | Journal of Accountancy online

Under rules approved by the Securities and Exchange Commission last week, CPAs must register with the agency as municipal advisers if they provide certain advice, such as tax advice to municipalities. However, CPAs who provide audit or attest services or prepare financial statements or issuing letters for underwriters fall within a registration exemption. The rules are to take effect 60 days after publication in the Federal Register.

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