South Carolina Code 40-2-70. Powers and duties of board
(1) determine the eligibility of applicants for examination and licensure and may use the assistance of NASBA-provided tools;
Terms Used In South Carolina Code 40-2-70
- Board: means the South Carolina Board of Accountancy. See South Carolina Code 40-2-20
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the 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
- 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
- Professional: means arising out of or related to the specialized knowledge or skills associated with licensees. See South Carolina Code 40-2-20
(2) examine applicants for licensure including, but not limited to:
(a) prescribing the subjects, character, and manner of licensing examinations;
(b) preparing, administering, and grading the examination or assisting in the selection of a contractor to prepare, administer, or grade the examination; and
(c) charging, or authorizing a third party administering the examination to charge, each applicant a fee in an amount adequate to cover examination costs;
(3) establish criteria for issuing, renewing, and reactivating authorizations for qualified applicants to practice, including issuing active or permanent, temporary, limited, and inactive licenses or other categories as may be created;
(4) adopt a code of professional ethics appropriate to the profession;
(5) evaluate and approve continuing professional education course hours and programs;
(6) conduct periodic inspections of licensees or firms with notice to the licensee or firm of at least three business days, and if upon inspection a violation is found, a formal complaint shall be filed and the customary procedures for complaints must be followed;
(7) conduct hearings on alleged violations of this chapter and regulations promulgated under this chapter;
(8) participate in national efforts to regulate the accounting profession;
(9) discipline licensees or registrants in a manner provided for in this chapter;
(10) project future activity of the program based on historical trends and program requirements, including the cost of licensure and renewal, conducting investigations and proceedings, participating in national efforts to regulate the accounting profession, and providing educational programs for the benefit of the public and licensees and their employees;
(11) issue safe harbor language nonlicensees may use in connection with financial statements, transmittals, or financial information which does not purport to be in compliance with the SSARS;
(12) promulgate regulations that have been submitted to the director at least thirty days in advance of filing with the Legislative Council as required by § 1-23-30 including, but not limited to, a schedule of fees for examination, licensure, and regulation;
(13) promulgate standards for peer review; and
(14) issue non-binding interpretations of statutes and regulations based on a written set of facts and a request from any member of the public, including licensees and the board.
(B) All public board orders, interpretations, and policies of this chapter must be made available to the public in an electronic format organized by applicable law or regulation.