How can I receive full license privileges to allow me to sign off on financial statements once issued the non reporting license?
You will qualify for to upgrade to a full license privileges after you comply with the provisions of 252 CMR 3.02(5), which remains unchanged in the new rules as of November 3, 2006. Non reporting candidates should review this rule carefully, and it would only be relevant if the non reporting licensee wished to accept a report engagement after becoming licensed. Many licensees practice public accountancy and do not issue reports on financial statements. If you wish to upgrade to a full license, the purpose of the rule is to have you take the 80 hours of report CPE within six months of accepting the report engagement to gain the knowledge of reporting soon before taking a report engagement. Then, you can sign up for the peer review of this report with a report acceptance body (such as the MA Society of CPAs) and they will give you a list of peer reviewers to comply with the provisions of the rule within nine months of issuing the report. They will also schedule subsequent peer reviews a
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