18 CFR § 158.12 - Qualifications of accountants.
---
identifier: "/us/cfr/t18/s158.12"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "18 CFR § 158.12 - Qualifications of accountants."
title_number: 18
title_name: "Conservation of Power and Water Resources"
section_number: "158.12"
section_name: "Qualifications of accountants."
chapter_name: "FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY"
subchapter_number: "E"
subchapter_name: "REGULATIONS UNDER NATURAL GAS ACT"
part_number: "158"
part_name: "ACCOUNTS, RECORDS, MEMORANDA AND DISPOSITION OF CONTESTED AUDIT FINDINGS AND PROPOSED REMEDIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 717-717w, 3301-3432; 42 U.S.C. 7102-7352."
regulatory_source: "Order 141, 12 FR 8603, Dec. 19, 1947, unless otherwise noted."
cfr_part: "158"
---
# 158.12 Qualifications of accountants.
The Commission will recognize only independent certified public accountants, or independent licensed public accountants who were licensed on or before December 31, 1970, who are in fact independent. For example, an accountant will not be considered independent with respect to any person or any of its parents or subsidiaries in who he has, or had during the period of report, any direct financial interest. The Commission will determine the fact of independence by considering all the relevant circumstances including evidence bearing on the relationships between the accountant and that person or any affiliate thereof.
(Sec. 10, 52 Stat. 826; 15 U.S.C. 717i)
[37 FR 26006, Dec. 7, 1972, as amended at 60 FR 53065, Oct. 11, 1995]