Texas Administrative Code › Title 22 - EXAMINING BOARDS › Part 22 - TEXAS STATE BOARD OF PUBLIC ACCOUNTANCY › Chapter 515 - LICENSES › Section 515.8 - Retired or Disability Status

Current through Reg. 49, No. 28; July 12, 2024
(a)
				Retired status. A licensee who is at least 60 years old and has affirmed that
				the licensee has no association with accounting may be granted retired status
				at the time of license renewal. A licensee in retired status is exempt from the
				fingerprinting required in §
									515.1(d)
				of this chapter (relating to License). A licensee who has been granted retired
				status and who reenters the workforce in a position that has an association
				with accounting automatically loses the retired status except as provided for
				in subsection (a)(1) of this section, and must provide the fingerprinting
				required in §
									515.1(d)
				of this chapter unless previously submitted to the board.
(1) A licensee who serves without
				compensation on a Board of Directors, or Board of Trustees, or provides
				volunteer tax preparation services, participates in a government sponsored
				business mentoring program such as the Internal Revenue Service's Volunteer
				Income Tax Assistance (VITA) program or the Small Business Administration's
				SCORE program or participates in an advisory role for a similar charitable,
				civic or other non-profit organization continues to be eligible for retired
				status.
(2) Licensees providing
				such uncompensated volunteer services have the responsibility to maintain
				professional competence relative to the volunteer services they provide even
				though exempted from CPE requirements.
(3) The board shall require licensees to
				affirm in writing their understanding of the limited types of activities in
				which they may engage while in retired status and their understanding that they
				have a professional duty to ensure that they hold the professional competencies
				necessary to offer these limited volunteer services.
(4) Licensees may only convert to retired
				status if they hold a license in good standing and not be subject to any
				sanction or disciplinary action.
(5) Compensated services do not include
				routine reimbursement for travel costs and meals associated with the volunteer
				services or de minimis per diem amounts paid to cover such expenses.
(6) A retired licensee shall place the word
				"retired" adjacent to the retired licensee's CPA or Public Accountant title on
				any business card, letterhead or any other document. A licensee may be held
				responsible for a third party incorrectly repeating the CPA's title and shall
				make reasonable efforts to assure that the word "retired" is used in
				conjunction with CPA. Any of these terms must not be applied in such a manner
				that could likely confuse the public as to the current status of the licensee.
				The licensee will not be required to have a certificate issued with the word
				"retired" on the certificate.
(7) A
				licensee in "retired" status is not required:
(A) to maintain CPE; and
(B) provide fingerprinting in accordance with
				§
											515.1(d)
				of this chapter unless the retired status is removed.
(8) A retired licensee shall not offer or
				render professional services that requires the retired licensee's signature and
				use of the CPA title either with or without "retired" attached, except a
				retired licensee providing supervision of an applicant to take the UCPAE may
				sign the work experience form.
(9)
				Upon reentry into the workforce, the licensee must notify the board and request
				a new license renewal notice and:
(A) pay the
				license fee established by the board for the period since the licensee became
				employed;
(B) complete a new
				license renewal notice; and
(C)
				meet the CPE requirements for the period since the licensee was granted the
				retired status as required by §
											523.113(3)
				of this title (relating to Exemptions from CPE).