(1)After notice and hearing as provided in section 12-100-123, the board may take
disciplinary or other action as authorized in section 12-20-404 and impose other
conditions or limitations on a person for any of the following causes:
(a)Fraud or deceit in obtaining or in attempting to obtain a certificate as a
certified public accountant or in obtaining registration under this article 100;
(b)Fraud or negligence in the practice of public accounting in Colorado or
any other state or in the filing of or failure to file the certified public accountant's
own income tax returns;
(c)Violation of any provision of this article 100 or an applicable provision of
article 20 of this title 12, of any final rule promulgated by the board, or of any valid
agency order;
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(1)
After notice and hearing as provided in section 12-100-123, the board may take
disciplinary or other action as authorized in section 12-20-404 and impose other
conditions or limitations on a person for any of the following causes:
(a) Fraud or deceit in obtaining or in attempting to obtain a certificate as a
certified public accountant or in obtaining registration under this article 100;
(b) Fraud or negligence in the practice of public accounting in Colorado or
any other state or in the filing of or failure to file the certified public accountant's
own income tax returns;
(c) Violation of any provision of this article 100 or an applicable provision of
article 20 of this title 12, of any final rule promulgated by the board, or of any valid
agency order;
(d) Violation of a rule of professional conduct promulgated by the board
under the authority granted by this article 100;
(e) Conviction of a felony or of a crime, an element of which is dishonesty or
fraud, under the laws of any state or of the United States. For the purposes of this
subsection (1)(e), a plea of guilty or a plea of nolo contendere accepted by the court
shall be considered as a conviction.
(f) Discipline taken against the person's authority to practice as a certified
public accountant or a public accountant in any jurisdiction;
(g) Discipline taken against the person's right to practice before any state or
federal agency or agency outside the United States or the public company
accounting oversight board, created by the federal Sarbanes-Oxley Act of 2002,
15 U.S.C. sec. 7201 et seq., as amended, for improper conduct or willful violation of
the rules or regulations of the state or federal agency or the public company
accounting oversight board;
(h) Without an active certificate of certified public accountant or a valid
registration:
(I) Providing certified public accounting services to the public for a fee; or
(II) Acting as a resident manager of an entity that is subject to section 12-100-114;
(i) Failure to comply with the requirements for continuing education as
prescribed by the board;
(j) An act or omission that fails to meet generally accepted accounting
principles or generally accepted auditing standards in the profession;
(k) Use of false, misleading, or deceptive advertising;
(l) A substance use disorder, as defined in section 27-81-102, or an excessive
use of a habit-forming drug, controlled substance, as defined in section 18-18-102
(5), or alcohol beverage that renders the certified public accountant unfit to
practice public accounting;
(m) Failure to retain records of the work performed for each client for a
period of five years;
(n) Failure of a partnership, professional corporation, or limited liability
company to register with the board pursuant to section 12-100-114 and to renew the
registration as prescribed by the board;
(o) Fraudulent, coercive, or dishonest practices or demonstrated
incompetence, untrustworthiness, or financial irresponsibility in Colorado, another
state, a United States territory, or a foreign country.
(2) In considering the conviction of crimes, as provided in subsection (1)(e) of
this section, the board shall be governed by the provisions of sections 12-20-202 (5)
and 24-5-101.
(3) In addition to any other penalty that may be imposed pursuant to this
section, any person violating this article 100 or any rules promulgated pursuant to
this article 100 may be fined upon a finding of misconduct by the board as follows,
either:
(a) In a proceeding against a certificant, a fine not in excess of five thousand
dollars per violation; or
(b) In a proceeding against a registrant, a fine not in excess of ten thousand
dollars per violation.