(A) After notice and hearing pursuant to Section 40-2-310, the board may revoke a certificate as a certified public accountant or license as a public accountant issued under this article; suspend a certificate or license for a period of not more than five years; reprimand, censure, or limit the scope of practice of a certificate holder or licensee; impose an administrative fine not exceeding one thousand dollars; or place a certificate holder or licensee on probation, all with or without terms, conditions, and limitations, for:

1. (1) fraud or deceit in obtaining a certificate or license;
2. (2) cancellation, revocation, suspension, or refusal to renew authority to engage in the practice of public accountancy in another state, territory of the United States, or the District of Columbia, for any cause;
3. (3) revocation or suspension of the right to practice before a state or federal agency;
4. (4) dishonesty, fraud, or gross negligence in the practice of public accountancy or in the filing or failure to file the certificate holder's or licensee's own income tax returns;
5. (5) violation of a provision of this article or a regulation promulgated by the board under the authority granted by this article;
6. (6) violation of a rule of professional conduct promulgated by the board under the authority granted by this article;
7. (7) conviction of a felony, or a crime, an element of which is dishonesty or fraud, under the laws of the United States, of this State, or any other state if the acts involved would have constituted a crime under the laws of this State. The record of conviction, or a copy of the record, certified by the clerk of court or the judge in whose court the conviction is had, is conclusive evidence of the conviction. The word "conviction" includes a plea of guilty or a plea of nolo contendere;
8. (8) performance of a fraudulent act while holding a certificate or license under this article; or
9. (9) conduct reflecting adversely upon the certificate holder's or licensee's fitness to engage in the practice of public accountancy.

(B) In lieu of or in addition to a remedy specifically provided in subsection (A), the board may require one or both of the following requirements of a certificate holder or licensee:

1. (1) a quality review conducted in a fashion as the board may require; or

2. (2) satisfactory completion of continuing professional education programs as the board may specify.

   A "quality review" means a study, appraisal, or review of one or more aspects of the professional work of a person or firm in the practice of public accountancy by a person or persons who hold certificates or licenses and who are not affiliated with the person or firm being reviewed.