What's in a (firm) name?
BOA Business
Julia Shiota, MNCPA communications coordinator | February/March 2025 Footnote
Editor's note: Updated February 10, 2025
It turns out there’s a lot that goes into a CPA firm name! Unlike other professions, there are key rules in place for determining a CPA firm name. First and foremost, a CPA firm name cannot be used unless it has first been registered and approved by the Minnesota Board of Accountancy (BOA). There are two broad categories to keep in mind when it comes to getting BOA approval: Misleading firm names and fictitious firm names.
Misleading firm names
A CPA firm name should make it clear to a reasonable person what kind of firm it is and what services it offers. Does the name contain words like corporation, incorporated, LLP or similar abbreviations when the firm isn’t that type of entity? Does it include the name of someone who is not a CPA if you include CPA in the firm name? Is the name of someone in the firm name who is not a current or former partner, member or shareholder of the firm? These are some of the considerations to keep in mind when determining a CPA firm name.
Fictitious firm names
A fictitious CPA firm name doesn’t contain the names or initials of one or more current or past partners, members, or shareholders. This can include a shortened version of the firm name that is not the lawful and registered name of the firm. Like a misleading firm name, a fictitious firm name must not include misleading designations and abbreviations nor should the name imply any professional licensing or specific expertise that cannot be supported in reality.
At the end of the day, the firm name should accurately represent the firm itself and the services it can provide to clients.
These are just a few rules to keep in mind while developing a CPA firm name. The full list of rules and their explanations can be found in Minnesota Rules, Chapter 1105, Licensure and Regulation of Accountants under
Section 1105.6300 (Misleading firm names) and
Section 1105.6400 (Fictitious firm names).
CPA firm names are approved by the Minnesota BOA and they are here to help! They can be reached at 651-296-7938 or
www.boa.state.mn.us. The MNCPA is here to help you, too. You can contact the MNCPA at
membership@mncpa.org or 952-831-2707.
