§ 5-3.1-4 - Board of accountancy.
SECTION 5-3.1-4
§ 5-3.1-4 Board of accountancy. – (a) There is created a board of accountancy in and for the state of RhodeIsland, to be known as the Rhode Island board of accountancy. The board shallconsist of five (5) members. All members shall be appointed by the governor.Membership of the board shall consist of three (3) members who holdcertificates and valid permits to practice as certified public accountants inthis state and who are in public practice as certified public accountants inthis state, and one member who holds an authority and a valid permit topractice as a public accountant in this state unless the governor shall not beable to find a qualified appointee within the class of public accountants atwhich time the governor shall appoint a certified public accountant. All four(4) of those members shall have at least ten (10) years' experience in afull-time practice of public accountancy. The fifth member shall be from thepublic sector and shall have professional or practical experience in the use ofaccounting services and financial statements as to be qualified to evaluatewhether the qualifications, activities, and professional practice of thosepersons and firms regulated under this chapter conform with the standardsestablished to protect the public interest. The board member from the publicsector shall be designated as the public's member to the board for the term ofservice appointed. Except as provided, the term of the members of the boardshall be five (5) years. No member of the board shall be associated in thepractice of accountancy, either individually or as a member of a firm, with anyother member of the board. The members of the Rhode Island board of accountancyappointed and serving under prior law on July 1, 1995, shall serve out theterms for which they were originally appointed as members of the board createdby this section. Vacancies occurring during any term shall be filled byappointment by the governor for the unexpired term. Upon the expiration of hisor her term of office, a member shall continue to serve until his or hersuccessor has been appointed and has assumed office. The governor shall removefrom the board any member whose certificate, authority or permit has beenrevoked, suspended, or not renewed. No person who has served two (2)consecutive complete terms is eligible for reappointment. Serving the remainderof an unexpired term upon appointment by the governor to fill a vacancy on theboard shall not be considered as serving a complete term.
(b) The board shall elect annually from among its members achairperson and any other officers that it deems appropriate. The board shallmeet at any times and places that are fixed by the board and in any event shallmeet no less than four (4) times each year. Three (3) members of the boardshall constitute a quorum for the transaction of business. The board shall havea seal which shall be judicially noticed. The board shall retain or arrange forthe retention of all applications and documents under oath that are filed withthe board, and shall maintain a registry of the names and addresses of alllicensees. The board shall keep records of its proceedings, and in anyproceeding in court, civil or criminal, arising out of or founded upon anyprovision of this chapter, copies of the records certified as correct under theseal of the board are admissible in evidence.
(c) Each member of the board shall be reimbursed for actualand necessary expenses incurred in the discharge of those duties, but shall notreceive compensation for their services on the board.
(d) All fees and monies derived under the provisions of thischapter shall be paid to and received by the general treasurer of the state ofRhode Island, who shall keep the monies in a restricted receipt account. Allmonies in the restricted receipt account shall be used to reimburse the boardfor expenses incurred in the administration and enforcement of this chapter.The board treasurer is authorized and directed to draw orders upon the generaltreasurer for payment from the restricted receipt account upon receipt by theboard treasurer of vouchers authenticated by the chairperson, vice chairperson,or secretary of the board.
(e) The board shall file an annual report of its activitieswith the governor and the general assembly of this state. The report shallinclude, but not be limited to, a statement of all receipts and disbursementsand a listing of all current licensees. The board shall mail a copy of thatannual report, upon request, in writing, to any licensee and to any member ofthe public.
(f) The board shall prescribe any rules and regulations notinconsistent with the provisions of this chapter that it deems consistent with,or required by, the public welfare and policy established in § 5-3.1-2.Those rules and regulations may include:
(1) Rules and regulations of procedure for governing theconduct of matters before the board;
(2) Rules and regulations of professional conduct forestablishing and maintaining high standards of competence and integrity in theprofession of public accounting;
(3) Rules and regulations governing educational andexperience requirements for the issuance of certificates;
(4) Rules and regulations establishing requirements forcontinuing education to promote the professional competence of holders ofpermits, which the board may require those holders to meet as a condition oftheir continuing in the practice of public accounting;
(5) Rules and regulations governing practice units engaged inthe practice of public accounting, including, but not limited to, rules andregulations concerning the style, name, title, and affiliation with any otherorganization, and establishing reasonable standards as to professionalliability insurance;
(6) Rules and regulations for reviewing and monitoringprofessional performance and conducting peer reviews;
(7) Any other rules and regulations, which the board deemsnecessary or appropriate in exercising its functions under this chapter.
(g) The promulgation of any rule, regulation, or amendment toit under subsection (f) of this section or under any other provision of thischapter shall be in accordance with § 42-35-3.
(h) The board may employ any personnel and arrange for anyassistance, legal or otherwise, that it requires for the performance of itsduties. It may also establish one or more advisory committees as it deemsnecessary in the performance of its duties. The authority and term of thatadvisory committee may be permanent or temporary in nature as determined by theboard.
(i) In addition to its rulemaking authority, the board hasthe power to take all action that is necessary and proper to effectuate thepurposes of this chapter, including the power to:
(1) Sue and be sued in its official name as an agency of thisstate;
(2) Investigate all complaints and charges of unprofessionalconduct, including, but not limited to, conduct specified under §5-3.1-12, against any licensee or any applicant for a certificate or permit,and to hold hearings, in accordance with the provisions of § 5-3.1-14, todetermine whether those complaints and charges are substantiated;
(3) Appoint one or more members of the board, legal counsel,and/or an independent investigator to act on behalf of the board ininvestigating the conduct of any licensee, or of any applicant for acertificate or permit, or in the alternative to appoint a probable causecommittee to investigate that conduct on its behalf, the committee to becomprised of licensees in good standing, as the board determines; and
(4) Issue subpoenas, administer oaths, and summon and examinewitnesses in connection with any investigation conducted under authority ofthis chapter. If a subpoena is disobeyed, the board may invoke the aid of anycourt of competent jurisdiction in this state to require the attendance andtestimony of witnesses and the production of documentary evidence.
(j) The board and its members and agents are immune frompersonal liability for actions taken in good faith in the discharge of theboard's responsibilities, and the state of Rhode Island shall indemnify theboard and those members and agents for, and holds them harmless from, any andall costs, damages, and reasonable attorneys' fees arising from or related inany way to claims or actions against them as to matters to which the immunityapplies.
(k) The board shall adopt rules and regulations to implementsubstantial equivalency as set forth in § 5-3.1-7(g).