Alaska Administrative Code
Title 12 - Professional Regulations
Part 1 - Boards and Commissions Subject to Centralized Licensing
Chapter 04 - Board of Public Accountancy
Article 5 - Permits and Practice Privileges
12 AAC 04.255 - Firm Ownership
Universal Citation: 12 AK Admin Code 04.255
Current through February 24, 2025
(a) A firm within the meaning given in AS 08.04.680 granted a permit under AS 08.04.240 that ceases to be in compliance with the ownership requirements of that section shall promptly take action to remedy that noncompliance.
(b) The following time periods apply to the remediation efforts under (a) of this section:
(1) if the noncompliance is remedied
not later than 180 days after the noncompliance begins, the firm need not
provide notice to the board;
(2) if
the noncompliance is not or cannot be remedied during the 180-day period, the
firm shall provide notice of the noncompliance to the board; the board will
establish a reasonable length of additional time by which the firm must achieve
compliance; in establishing a reasonable length of time,
(A) the following factors may be considered:
(i) the nature and extent of the
noncompliance;
(ii) whether the
noncompliance could or should have been anticipated or avoided;
(iii) any hardship that achieving compliance
in a more expeditious manner may impose; and
(B) the board may approve
(i) up to an additional 180 days, for a total
of 360 days;
(ii) a length greater
than that set under (i) of this subparagraph, if reasonable and
necessary.
Authority:AS 08.04.055
AS 08.04.240
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