South Carolina Code 40-2-110. Revocation, suspension, or probation of licensees; revocation of registration or limitation of scope of practice of firm
(1) conviction of a felony that has an element of dishonesty or fraud or any other crime that has an element of dishonesty or fraud, under the laws of the United States, of this State, or of any other state if the acts involved constitute a crime under state laws;
Terms Used In South Carolina Code 40-2-110
- AICPA: means the American Institute of Certified Public Accountants or successor organizations. See South Carolina Code 40-2-20
- Board: means the South Carolina Board of Accountancy. See South Carolina Code 40-2-20
- Conviction: A judgement of guilt against a criminal defendant.
- Firm: includes a person or persons practicing public accounting in the form of a proprietorship, partnership, limited liability partnership, limited liability company, or professional corporation or association. See South Carolina Code 40-2-20
- Fraud: Intentional deception resulting in injury to another.
- License: means authorization to practice as issued under this chapter. See South Carolina Code 40-2-20
- Licensee: means the holder of a license. See South Carolina Code 40-2-20
- Peer review: means a study, appraisal, or review of one or more aspects of the professional work of a licensee of the board or a firm registered with the board that performs attest or compilation services by a person or persons who hold certificates and who are not affiliated with the certificate holder or certified public accountant firm being reviewed. See South Carolina Code 40-2-20
- Practice of accounting: means :
(a) issuing a report on financial statements of a person, firm, organization, or governmental unit or offering to render or rendering any attest or compilation service. See South Carolina Code 40-2-20 - Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- Professional: means arising out of or related to the specialized knowledge or skills associated with licensees. See South Carolina Code 40-2-20
- Registration: means an authorization, issued under this chapter, to practice as a firm. See South Carolina Code 40-2-20
- State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, the Commonwealth of the Northern Mariana Islands, and Guam; except that "this State" means the State of South Carolina. See South Carolina Code 40-2-20
(2) conduct reflecting adversely upon the licensee’s fitness to perform services as a licensee;
(3) use of a false, fraudulent, or forged statement or document or committal of a fraudulent, deceitful, or dishonest act or omission of a material fact in obtaining licensure pursuant to this chapter;
(4) intentional use of a false or fraudulent statement in a document connected with the practice of the individual’s profession or occupation;
(5) obtaining fees or assistance in obtaining fees under fraudulent circumstances;
(6) failure to comply with established professional standards, including standards set by federal or state law or regulation;
(7) violation of the code of professional ethics adopted by the board or of the AICPA Professional Standards: Code of Professional Conduct;
(8) failure to respond to requests for information or to cooperate in investigations on behalf of the board;
(9) engagement or aid of another, intentionally or knowingly, directly or indirectly, in unlicensed practice of accounting;
(10) failure to disclose or disclaim the appropriate license status of a person or entity not holding a license but associated with financial statements;
(11) engagement in advertising or other forms of solicitation or use of a firm name in a manner that is false, misleading, deceptive, or tending to promote unsupported claims;
(12) the revocation, suspension, reprimand, or other discipline of the right to practice by the licensee in any other state or by a federal agency for a cause other than the failure to pay an annual registration fee.
(B) After notice and hearing, as provided in § 40-2-90, the board shall revoke the registration of a firm if at any time it does not meet the requirements prescribed by § 40-2-40 and also may revoke, suspend, refuse to renew, reprimand, censure, or limit the scope of practice of a registrant and impose an administrative fine not to exceed ten thousand dollars per violation for any of the causes enumerated in subsection (A) or for:
(1) the revocation or suspension or refusal to renew the license to practice of a member of a firm;
(2) the revocation, suspension, reprimand, or other discipline of the right to practice by the firm in any other state or by a federal agency for a cause other than the failure to pay an annual registration fee;
(3) the failure to notify the board in writing, within thirty days after its occurrence, of any revocation, suspension, reprimand, or other discipline of the right to practice by the licensee in any other state or by a federal agency.
(C) A final order of the board disciplining a licensee under this section is public information.
(D) Upon a determination by the board that discipline is not appropriate, the board may issue a nondisciplinary letter of caution.
(E) The board may establish a procedure to allow a licensee who has been issued a public reprimand to petition the board for expungement of the reprimand from the licensee’s record.
(F) Licensees of this State offering or rendering services or using their "Certified Public Accountant" title in another state are subject to disciplinary action in this State for an act committed in another state for which the licensee would be subject to discipline.