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17-12-602. Sanctions.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-602. Sanctions.
(a) If a licensee or holder of a practice privilege under § 17-12-311 is found to have committed an action or omission identified in § 17-12-601, the Arkansas State Board of Public Accountancy may impose any one (1) or more of the following sanctions:
(1) Suspension, revocation, or denial of his or her license or practice privilege or the renewal thereof;
(2) A penalty not to exceed ten thousand dollars ($10,000) for each violation as well as investigation costs incurred by the board;
(3) Completion of appropriate education programs or courses;
(4) Preissuance review of audits, review reports, or compilations;
(5) Quality review conducted in such a manner as the board may specify;
(6) Successful completion of the licensing examination;
(7) Conditions or restrictions upon the license, registration, or practice privilege; and
(8) All other requirements or penalties the board finds appropriate to the circumstances of the case and that would achieve the desired disciplinary purposes but that would not impair the public welfare and morals.
(b) In any proceeding in which the board finds that the licensee or holder of a practice privilege has committed any action or omission identified in § 17-12-601, the board may also require the licensee to pay the cost of the proceeding.
(c) Each instance when a federal or state law or any board rule is violated shall constitute a separate violation.
(d) Upon imposition of a sanction, the board may order that the license, permit, certificate, credential, registration, or practice privilege be suspended until its holder has complied in full with all applicable sanctions imposed under this section.
(e)(1) The power and authority of the board to impose sanctions authorized in this section are in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-602
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-12-602
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 83ab102a4f4800a73cd5375af0130567f470aa49b126b27d0bdff9013da30f7a
Source location: content.xml paragraph 1596
Stored source content
17-12-602. Sanctions.
(a) If a licensee or holder of a practice privilege under § 17-12-311 is found to have committed an action or omission identified in § 17-12-601, the Arkansas State Board of Public Accountancy may impose any one (1) or more of the following sanctions:
(1) Suspension, revocation, or denial of his or her license or practice privilege or the renewal thereof;
(2) A penalty not to exceed ten thousand dollars ($10,000) for each violation as well as investigation costs incurred by the board;
(3) Completion of appropriate education programs or courses;
(4) Preissuance review of audits, review reports, or compilations;
(5) Quality review conducted in such a manner as the board may specify;
(6) Successful completion of the licensing examination;
(7) Conditions or restrictions upon the license, registration, or practice privilege; and
(8) All other requirements or penalties the board finds appropriate to the circumstances of the case and that would achieve the desired disciplinary purposes but that would not impair the public welfare and morals.
(b) In any proceeding in which the board finds that the licensee or holder of a practice privilege has committed any action or omission identified in § 17-12-601, the board may also require the licensee to pay the cost of the proceeding.
(c) Each instance when a federal or state law or any board rule is violated shall constitute a separate violation.
(d) Upon imposition of a sanction, the board may order that the license, permit, certificate, credential, registration, or practice privilege be suspended until its holder has complied in full with all applicable sanctions imposed under this section.
(e)(1) The power and authority of the board to impose sanctions authorized in this section are independent of and in addition to any other civil or criminal proceeding concerning the same violation.
(2) The imposition of a penalty does not preclude the board from imposing other sanctions short of revocation.
(f) The board is authorized to file suit in either the Pulaski County Circuit Court or the circuit court of any county in which the defendant resides or does business to collect any monetary penalty assessed under this chapter if the penalty is not paid within the time prescribed by the board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-311. Substantial equivalency.
(a)(1) An individual whose principal place of business is not in this state and who holds a valid license as a certified public accountant from a state which 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:
(A) Shall be presumed to have qualifications substantially equivalent to this state's requirements;
(B) Shall have all the privileges of licensees of this state without the need to obtain a certificate under § 17-12-301 or § 17-12-308 or a license under § 17-12-313 or § 17-12-501; and
(C) May offer or render professional services in person, by mail, by telephone, or by electronic means without notifying the Arkansas State Board of Public Accountancy or paying a fee.
(2)(A) An individual whose principal place of business is not in this state and who holds a valid license as a certified public accountant from a state which the NASBA National Qualification Appraisal Service has not verified to be in substantial equivalence with the CPA licensure requirements of the AICPA/NASBA Uniform Accountancy Act:
(i) Shall be presumed to have qualifications substantially equivalent to the requirements of this state;
(ii) Shall have all the privileges of licensees of this state without the need to obtain a certificate under § 17-12-301 or § 17-12-308 or a license under § 17-12-313 or § 17-12-501 if the individual obtains from the NASBA National Qualification Appraisal Service verification that the individual's CPA qualifications are substantially equivalent to the CPA licensure requirements of the AICPA/NASBA Uniform Accountancy Act; and
(iii) May offer or render professional services, whether in person, b
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-311
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-12-311. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-601. Grounds generally.
(a) The following acts, conduct, or practices are prohibited, and any licensee or holder of a practice privilege found guilty by the Arkansas State Board of Public Accountancy of the acts, conducts, or practices shall be subject to disciplinary action as provided in § 17-12-602 after notice and hearing as provided in § 17-12-603:
(1) Fraud, dishonesty, or deceit in obtaining or attempting to obtain a certificate or registration as a certified public accountant or public accountant, registration of a firm, or a practice privilege under this chapter;
(2) Dishonesty, fraud, or gross negligence in the practice of public accountancy;
(3) Violation of any of the provisions of this chapter;
(4) Violation of a rule of professional conduct or other rule promulgated by the board under the authority granted by this chapter;
(5) Conviction of a felony under § 17-3-102;
(6) Conviction of any crime an element of which is dishonesty or fraud under the law of any state or of the United States;
(7) Imposition of any sanction or disciplinary action, other than for failure to pay annual fees, by the United States Securities and Exchange Commission, Public Company Accounting Oversight Board, Internal Revenue Service, or other federal or state agency or foreign authority or credentialing body that regulates public accounting regarding the licensee's conduct while rendering public accounting or other professional services;
(8) Conduct discreditable to the public accounting profession; and
(9) Violation of any board order or agreement for the resolution of asserted violations of this chapter, a board rule of professional conduct, or other board rule.
(b) The board may deny an application for a license, registration, certificate, or practice
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-601
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-12-601. This identifies an authority to review, not proof of applicability.