Arkansas Administrative Code
Agency 019 - State Board of Accountancy
Rule 019.00.17-002 - Rule 13.8 - Retired Status
Universal Citation: AR Admin Rules 019.00.17-002
Current through Register Vol. 49, No. 9, September, 2024
13.8 RETIRED AND DISABLED STATUS
(a)
Retired Status. A licensee who is at least 55 years old and has filed a request
on a form prescribed by the Board stating that he or she has no association
with accounting work for compensation may be granted retired status upon
approval of the application. Licensees on retired status are not required to
comply with the continuing professional education requirements set forth in
Board Rule 13 or to make payment of annual license fees.
(1) The licensee who has been granted retired
status immediately becomes ineligible for retired status upon:
(a) Re-entering the workforce in a position
that has an association with accounting work for which he or she receives
compensation; or
(b) Serving on a
Board of Directors, Board of Trustees, or in a similar governance position,
unless the service is provided without compensation and is for a charity or a
civic or not-for-profit organization.
(2) Upon the occurrence of either
13.8(a)(1)(a) or 13.8(a)(1)(b) above, the licensee must notify the Board and
request an application for active status or inactive status (if eligible) and:
a) Pay the license fee established by the
Board;
b) Complete the active or
inactive license application; and
c) If converting to active status, meet the
requirements of Board Rule
13.7(d).
(b) Disabled Status.
Disabled status may be granted to a licensee who submits to the Board a
statement and a letter from the licensee's physician that identifies the
disability and states that the individual is unable to work because of a
severe, ongoing, physical or mental impairment or medical condition that is not
likely to improve within the next 12 consecutive months. Licensees on disabled
status are not required to comply with the continuing professional education
requirements set forth in Board Rule 13 or to make payment of annual license
fees.
(1) The licensee who has been granted
disabled status immediately becomes ineligible for disabled status upon:
(a) Re-entering the workforce in any position
for which he or she receives compensation; or
(b) Serving on a Board of Directors, Board of
Trustees, or in a similar governance position, unless the service is provided
without compensation and is for a charity or a civic or not-for-profit
organization.
(2) Upon
the occurrence of either 13.8(b)(1)(a) or 13.8(b)(1)(b) above, the licensee
must notify the Board and request an application for active status or inactive
status (if eligible) and:
(a) Pay the license
fee established by the Board;
(b)
Complete the active or inactive license application; and
(c) If converting to active status, meet the
requirements of Board Rule
13.7(d).
(c) For
purposes of this section the term "association with accounting work" shall
include, but not be limited to, the following:
(1) Whether for the public or for an employer
- Working, supervising, or providing oversight of accounting work performed in
the areas of financial accounting and reporting; tax compliance, planning or
advice; management advisory services; accounting information systems; treasury,
finance, or audit; or
(2)
Representing to the public, including an employer, that the individual is a CPA
or public accountant in connection with the sale of any services or products
involving accounting work, including such designation on a business card,
letterhead, proxy statement, promotional brochure, advertisement, or office;
or
(3) Offering testimony in a
court of law purporting to have expertise in accounting and reporting,
auditing, tax, or management services.
(d) All Board rules and all provisions of the
Public Accountancy Act of 1975 apply to an individual in retired or disabled
status. Licensees in retired status must use the term "Retired" adjacent to
their CPA or PA title. Licensees in disabled status must use the term
"Inactive" adjacent to their CPA or PA title.
Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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