(a)
(1) An individual whose principal place of business is not in this Territory and who holds a valid license as a Certified Public Accountant from any state that the NASBA National Qualification Appraisal Service has verified to be in substantial equivalence with the CPA licensure requirements of the AICPA/NASBA Uniform Accountancy Act is presumed to have qualifications substantially equivalent to this State’s requirements and shall have all the privileges of permittees of this Territory without the need to obtain a permit under sections 250c or 250d. Notwithstanding any other provision of law, an individual who offers or renders professional services, whether in person, by mail, telephone or electronic means, under this section must be granted practice privileges in this Territory, and no notice or other submission must be provided by any such individual. Such an individual is subject to the requirements in paragraph (3) of this subsection.
(2) An individual licensee of another state exercising the privilege afforded under this section and the firm that employs that licensee hereby simultaneously consents, as a condition of the grant of this privilege:
(A) to the personal and subject matter jurisdiction and disciplinary authority of the Board,
(B) to comply with this chapter and the Board’s rules;
(C) to the condition that if the license from the state of the individual’s principal place of business is no longer valid, the individual shall cease offering or rendering professional services in the Virgin Islands individually and on behalf of a firm; and
(D) to the appointment of the State Board that issued their license as their agent upon whom process may be served in any action or proceeding by this Board against the licensee.
(3) An individual who has been granted practice privileges under this section and who for any entity with its home office in the Territory, performs any of the services listed in subparagraphs (A) through (C) may practice only through a firm that has obtained a permit issued under section 250d of this chapter. Those services are:
(A) Any financial statement audit or other engagement to be performed in accordance with Statements on Auditing Standards;
(B) Any examination of prospective financial information to be performed in accordance with Statements on Standards for Attestation Engagements; or
(C) Any engagement to be performed in accordance with PCAOB auditing standards;
(b) A permittee of the Territory offering or rendering services or using its CPA title in another state is subject to disciplinary action in the Territory for an act committed in another state for which the licensee would be subject to discipline for an act committed in the other state. Notwithstanding section 250h(a), the Board shall investigate any complaint made by the board of accountancy of another state.