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Notice of Effective Date of New/Amended Rules
for the Tennessee State Board of Accountancy
Pursuant to Tenn. Code Ann. § 4-3-1306(d), you are receiving this notice because you have elected to receive notification by e-mail of certain changes or potential changes to the law applicable to your profession.
The Tennessee State Board of Accountancy considered new rules at a regularly scheduled meeting conducted on October 16, 2015. These rules were filed with the Secretary of State on August 12, 2016 and will become effective on November 10, 2016. These rules have been filed as Proposed Rules and will be promulgated without a hearing ninety (90) days from the filing date unless a petition is received by at least ten (10) persons who will be affected by the rule.
These proposed rules are additions, amendments, and deletions as described as below:
- -Chapter 0020-01 is amended to contain the definition of “Professional Services” from Chapter 0020-03 so that it is applicable to all the chapters. The rules are also amended to remove the potential regulation of tax preparation companies that are not providing attest services or otherwise engaged in the practice of public accountancy. The proposed rules removed the obligation to surrender an expired license to the Board.
- Chapter 0020-02 is amended to clarify for when and how “dual credits” will be counted for taking the CPA examinations and/or obtaining a CPA license. The rules also expand the number of semester hour credits earned from internship programs to be counted toward licensure requirements.
- Chapter 0020-03 is amended to clarify that licensees are under an obligation to retain all client documents and files for all work performed, not just public accounting services.
- Chapter 0020-04 is amended by removing the rule that it is a violation of the Rules for a licensee’s failure to return a certificate, registration, or permit upon its suspension, revocation, or expiration.
A full copy of these rules can be viewed online at http://share.tn.gov/sos/rules_filings/08-12-16.pdf.
If you have any questions or concerns about these proposed rules, please contact Benjamin Glover, Assistant General Counsel, at (615) 770-0085 or electronically at Benjamin.Glover@tn.gov.
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