Foreign participation in audit & accoutning firms is subject to reciprocity.
"Article 1. The present Act regulates the profession of Certified Public Accountants in Lebanon.
[...]
Article 2 – Definition: A Certified Public Accountant (CPA) is any/all natural person performing in his name or on behalf of another legal entity:  auditing and appraisal of all types of accounts and rendering an opinion as to the authenticity and accuracy of financial data.
Article 3 – No person shall act as CPA unless registered in the tables of the Association established in accordance with the present Act.
[...]
Chapter II – The organizational structure of the Association [...]
1- Membership Conditions:
Article 8 – No one is entitled to be registered in the General Table of the Association or practice the profession in Lebanon or purport to be a CPA unless he meets the following requirements:
- Being a Lebanese citizen for more than ten years.
[...]
3- Rights and Obligations: [...]
Article 16 – In addition to his main occupation, a CPA is entitled to perform the following: [...]
In this respect, CPAs may jointly found professional non-trading partnerships or establish companies in collaboration with financial, management and economic experts. Contracts are to be put down in writing and mentioned in the special register (stipulated in Article 20 of the present Act) set for companies that practice the profession.
[...]
Membership Conditions for Arab and Foreign CPAs:
Article 18 – Non-Lebanese can be registered in the General Table of the Association to practice as « Certified Public Accountants » in Lebanon provided they meet, in addition to the conditions required from Lebanese CPAs, the following prerequisites:
1-      To be from countries where laws and regulations entitle the Lebanese citizens who meet the local requirements to practice the accountancy profession, in accordance with the reciprocity principle.
2-      To collaborate with a Lebanese Certified Public Accountant   
3-      To have the required qualifications and skills entitling him to practice the accountancy profession in his country provided these skills are at least equal to those required from Lebanese CPAs.
4-      To meet all required legal and regulatory conditions related to the residency and work of foreigners in Lebanon.
Article 19 – Foreign experts shall be registered in the Table for foreign experts, after submitting a written membership request along with all documentary evidence proving that he meets the legal conditions required for the practice of the profession in Lebanon. Once registered, the foreign expert becomes an LACPA member having the right to vote at the General Assembly, on condition of reciprocity. He is not, however, entitled to stand for Council elections.
Article 20 – The Council shall keep:
1-      A table known as the  « General Table of CPAs » including the names of all Certified Public Accountants that are members of LACPA.
2-      A table with the names of foreign CPAs.
3-      A register for trainees.
4-      A register for the companies that practice the profession.
Registration shall take place and the register - referred to in aforementioned paragraph 4 - shall be kept in accordance with the rules and regulations set forth in the Rules of Procedure of the Association. The register shall be put at the disposal of anyone wishing to obtain information on any registered company practicing the profession or to get a certified copy of a the said registration on payment of the fees provided for in the aforementioned Rules of Procedure. The issued Registration Certificates shall be signed by the president and the secretary.[...]" (The Accountancy Profession Act of the Lebanese Association of Certified Public Accountants Law No 364)
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"Title Seven - Civil Professional Companies
Article 16: Practicing CPAs may establish between them Civil Professional Companies.
Article 17. The partnership contracted must be written, and registered at the register of civil companies before the clerk office of the relevant first instance court, and in the special register for professional companies as stated in article 20 of the law organizing the profession, and the partnership contract shall include the following information: Corporate objective; Names of the associates; Rights of the associates;  Corporate duration and headquarters; Corporate signatory(ies) by virtue of a commercial circular.
Associates must register the company at the special register of companies in LACPA within two months of the incorporation, and must also inform LACPA of any amendment to the corporate contract within two months from the date of modification.
Associates shall be prohibited from using the name of the company before the due registration under penalty of applying the disciplinary penalties stated in article 43 of the law organizing the profession.
The auditing financial statements reports issued by the Professional Civil Companies shall be signed according to the International Auditing Standards. [...]" (Lebanese Association of Certified Public Accountants (LACPA) Bylaws)
The Accountancy Profession Act of the Lebanese Association of Certified Public Accountants Law No 364
Lebanese Association of Certified Public Accountants (LACPA) Bylaws
[<a href="http://lacpa.org.lb/accountancy-profession-act">Act</a>],[<a href="http://lacpa.org.lb/lacpa-internal-bylaws">Reg</a>]