Persons and firms who, prior to October 1, 1992, were authorized to practice as public accountants and hold licenses and permits to practice public accountancy issued pursuant to this chapter prior to October 1, 1992, shall be entitled to have their licenses and permits to practice renewed under sections 20-281d and 20-281e, provided they fulfill all requirements for renewal under such provisions. As long as such licensees hold valid licenses and permits to practice under sections 20-281d and 20-281e, they shall be entitled to engage in the practice of public accountancy to the same extent as other holders of such permits, and in addition they shall be entitled to use the designations “public accountants” and “PA”, but no other designation, in connection with the practice of public accountancy.