On May 23, 2013 the Tennessee State Board of Accountancy held a Rulemaking Hearing after which the proposed changes (detailed below) were reviewed by the Tennessee Attorney General's Office and sent to the Secretary of State's office where an effective date of the rule changes was established as March 11, 2014 (click here for filed rules).
Rule 0020-01-.04(1) Fees
Amended to reduce the CPA license renewal fee to one hundred ten dollars ($110.00) biennially
Rule 0020-01-.05 Applications
Amended by amending paragraph (3) to read as follows:
A candidate who fails to appear for the examination shall forfeit all fees charged for both the application and the examination. All applications for initial licensure shall expire one (1) year from the date of the application for initial licensure.
Rule 0020-01-.06 Applications
Amended by adding a new paragraph (11) to read as follows:
All CPA Exam scores shall expire ten (10) years after the first passing score is earned. However, upon written request by the applicant, the Board may, in its sole discretion, grant an extension of the score expiration date for good cause shown.
Rule 0020-04-.03 Grounds for Disciplinary Action
Amended by adding a new paragraph (3) to read as follows:
(3) The Board has no jurisdiction over fee disputes between a licensee and a client. The Board shall not seek to impose discipline against a licensee solely on the basis of a dispute between the licensee and the client regarding payment of fees by the client for professional services rendered by the licensee.
Rule 0020-05-.03(3) Basic Requirements
Amended by adding new subparagraphs (c), (d), (e), and (f) to read as follows:
(a) For purposes of disciplinary action, the board shall retain jurisdiction over all certificate holders whose license is in inactive status.
(b) Certificate holders who are granted inactive status by the board shall be required to place the word "inactive" adjacent to their CPA or PA designation when using such designation for any lawful purpose, including, but not limited to use of such designation on any business card, letterhead, resume, or biography.
(c) A certificate holder who has been granted inactive status may not for compensation perform or offer to perform for the public, including the providing of accounting services from a licensed accounting firm, any of the following services: any accounting or auditing services which involves the issuance of reports on financial statements (including opinions, reviews, compilations, or attest engagements), any consulting engagement which would constitute the attest function, or furnishing advice on tax matters.
(d) A certificate holder who has been granted inactive status may perform the services set forth in (c) above if: the services are provided without compensation to the certificate holder, if the services are performed solely for the certificate holder's employer and such employer is not a licensed accounting firm, or if the certificate holder does not use the CPA or PA designation in association with his or her name while providing such lawful services.
(e) A certificate holder who is 65 years old or older and possesses a certificate in inactive status shall not be required to pay the biennial license renewal fee required for licensees as set forth in these rules.
(f) Certificate holders who are granted inactive status must complete eighty (80) hours of CPE in the areas of accounting, accounting ethics, attest, taxation, or management advisory services during the twenty-four (24) month period preceding the date of their request for reactivation of their license. The CPE hours required to reactivate a license may also be used as credit toward the renewal requirement so long as those hours are completed within the two (2) year window prior to the licensee's next December 31 renewal date.
Rule 0020-05-.03 Basic Requirements
Amended by amending paragraph (6) to read as follows:
(6) An applicant for renewal whose license has expired as set forth in Rule 0020-1-.08(7) shall complete no less than eighty (80) hours of CPE in the areas of accounting, accounting ethics, attest, taxation, or management advisory services during the six (6) month period preceding the date of reapplication. The CPE hours required to reinstate an expired license are considered penalty hours and may not be used to offset the CPE hours required for renewal of a license.