30 Miss. Code. R. 1-6.13

Current through December 10, 2024

Rule 30-1-6.13 - Record

Rule6.13.1. A CPA or firm permit holder shall furnish to a client or former client (regardless of the status of the client or former client account) upon request, any accounting or other records belonging to, or obtained for, the client which he or the firm may have had occasion to remove from the client's premises, or to receive for the client's account, but this shall not preclude him from making copies of such documents when they form the basis of work done by him (or his firm), but in no event shall the accountant have a lien on these accounting or other records.

Rule 6.13.2. Within a reasonable time after original issuance, a CPA or firm permit holder shall furnish to a client, or former client, upon request (subject to the provisions of this rule):

(a) a copy of a tax return,

(b) a copy of a report, or other document, that was previously issued to or for such client (provided that furnishing such reports to or for such client or former client would not cause the violation of Rule 6.9., Auditing Standards concerning subsequent events),

(c) source documents provided by the client; or

(d) a copy of the working papers, to the extent that such working papers include records which would ordinarily constitute part of the client's books and records and are not otherwise available to the client. Examples of records include but are not limited to computer generated books of original entry, general ledgers, subsidiary ledgers, adjusting, closing and reclassification entries, journal entries and depreciation schedules or their equivalent.

The information should be provided in the medium in which it is requested if it exists in that format (for example electronic or hard copy). It does not have to be converted to another format.

Rule 6.13.3. In no case shall source documents be withheld from clients; however, the CPA or firm permit holder shall not be compelled to surrender work products for which he has not been compensated. A CPA or firm permit holder shall also be permitted to collect in advance of issuance a reasonable fee for time and expenses of issuing or reproducing a return and/or report referred to above.

Rule 6.13.4. All statements, records, schedules, working papers and memoranda made by a CPA or firm permit holder incident to or in the course of professional services to clients by such CPA or firm permit holder to a client, must be retained for a minimum period of five years and shall remain the property of such CPA or firm permit holder in the absence of an express agreement between such CPA or firm permit holder and the client to the contrary. No such statement, record, schedule, working paper or memorandum shall be sold, transferred or bequeathed without the consent of the client or his personal representative or assignee to anyone other than one or more surviving partners or new partners of such CPA or firm permit holder or to his corporation or any combined or merged partnership or successor in interest to the partnership.

30 Miss. Code. R. 1-6.13

Miss. Code Ann. § 73- 33-5 (f)