325.340 Revocation, suspension, or refusal to renew or issue license -- Private
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/ky/325-340A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
reprimand for minor violation -- Administrative regulations.
(1)After notice and hearing as provided in KRS Chapter 13B, the board may revoke,
suspend, impose a fine not to exceed one thousand dollars ($1,000) for each
violation of a provision of this chapter or administrative regulations promulgated by
the board under this chapter, refuse to issue or renew any license, censure, place on
probation, or issue a private reprimand to any person or firm, all with or without
terms, for any one
(1)or any combination of the following causes:
(a)Fraud or deceit in obtaining a license issued under this chapter;
(b)Dishonesty, fraud, or negligence while performing any regulated activity,
including fiscal dishonesty or an intentional breach of fiduciary responsibility
of any kind, and also including but not limited to the following:
1. Knowing preparation, publication, or dissemination of false, fraudulent,
or materially misleading financial statements, reports, or information;
and
2. Embezzlement, theft, misappropriation of funds or property, or
obtaining money, property, or other valuable consideration by fraudulent
means or false pretenses;
(c)Violation of any of the provisions of this chapter or administrative regulations
promulgated by the board under this chapter or violation of any order of the
board;
(d)Violation of a rule of professional conduct promulgated by the board;
(e)Conviction of any felony, or of any crime in which dishonesty or fraud is an
element, under the laws of any state or of the United States. Conviction
includes, but is not limited to, pleading no contest, entering an Alford plea, or
entry of a court order suspending the imposition of a criminal penalty to a
crime, if in accordance with KRS Chapter 335B;
(f)Cancellation, revocation, suspension, or refusal to renew the authority to
practice as a certified public accountant or a public accountant in any state;
(g)Suspension or revocation of the right to practice before any state or federal
agency or the Public Company Accounting Oversight Board or its successor;
(h)Conduct discreditable to the accounting profession; or
(i)Failure to respond to a board inquiry regarding any licensing or complaint
matter.
(2)In any proceeding in which a remedy provided by subsection
(1)of this section is
imposed, the board may also require the respondent to pay the costs of the
investigation and all proceedings.
(3)A private reprimand shall not be subject to disclosure to the public under KRS
61.878(1)(l). A private reprimand shall not constitute disciplinary action, but may
be used by the board for statistical purposes, or in subsequent disciplinary actions
against the same licensee.
(a)Any licensee disciplined under this section for a minor violation may request
in writing that the board expunge the minor violation from the licensee's
record.
(b)A request for expungement may be filed no sooner than ten
(10)years after
the date on which the licensee completed the disciplinary sanctions imposed
and may only be filed if the licensee has not been disciplined, within this same
period of time, for any subsequent violation of the same nature.
(c)No licensee may have his, her, or its record expunged under this section more
than once.
(d)A minor violation is one that does not:
1. Demonstrate a serious inability to practice the profession;
2. Result in economic harm to a person; or
3. Create a significant threat of such harm.
(5)The board shall promulgate administrative regulations under KRS Chapter 13A to
establish procedures to expunge a minor violation.