After notice and hearing, as provided in Section 40-2-310, the board shall revoke the registration or license of a partnership if at any time it does not meet the requirements prescribed by Section 40-2-30 or 40-2-40 and may revoke or suspend the registration or license of a partnership for any of the causes enumerated in Section 40-2-290 or for:

1. (1) the revocation or suspension of the certificate of registration or the revocation or suspension or refusal to renew the license to practice of a partner; or
2. (2) the cancellation, revocation, suspension, or refusal to renew the authority of the partnership or a partner to practice public accounting in another state for a cause other than failure to pay an annual registration fee in another state.