When an applicant or licensee submits a financial statement as part of any application to the Board, the following requirements shall apply, unless waived by the Board in its discretion and for good cause:

1. (1) The financial statement must be executed by a licensed public accountant or a Certified Public Accountant on the accountant’s letterhead along with the accountant’s license or certification number;
2. (2) The financial statement must be prepared in accordance with Generally Accepted Accounting Principles;
3. (3) The financial statement must be dated no earlier than twelve (12) months prior to the date of application;
4. (4) The financial statement must be prepared in the name of the applicant or licensee; and
5. (5) If the accountant is not licensed in the State of Tennessee, a copy of the accountant’s license must be furnished with the financial statement.

Authority: T.C.A. §§ 62-6-108, 62-6-111, and 62-6-116. Administrative History: New rule filed August 20, 2025; effective November 18, 2025.