- (a) After notice and a hearing, the board may assess an administrative penalty against a person who violates a cease and desist order issued against that person.
(b) The amount of the administrative penalty assessed under this section will be in accordance with the following guidelines:
- (1) an unlicensed individual who uses terms restricted for use by certified public accountants only in violation of sections 901.451, 901.452 and 901.453 of the Public Accountancy Act shall pay a penalty of no less than $1,000.00 and no more than $5,000.00;
- (2) an unlicensed entity that uses terms restricted for use by licensed firms only in violation of section 901.351(a) of the Public Accountancy Act shall pay a penalty of no less than $5,000.00 and no more than $10,000.00;
- (3) an unlicensed individual who claims to provide "accounting services" or other non-attest services reserved for licensed certified public accountants and licensed certified public accounting firms shall pay a penalty of no less than $1,000.00 and no more than $5,000.00;
- (4) an unlicensed entity that claims to provide "accounting services" or other non-attest services reserved for licensed certified public accountants and licensed certified public accounting firms shall pay a penalty of no less than $5,000.00 and no more than $10,000.00;
- (5) an unlicensed individual who claims to provide attest services shall pay a penalty of no less than $5,000.00 and no more than $25,000.00;
- (6) an unlicensed entity that claims to provide attest services shall pay a penalty of no less than $5,000.00 and no more than $25,000.00;
- (7) an unlicensed individual who claims to be a certified public accountant shall pay a penalty of no less than $5,000.00 and no more than $25,000.00; and
- (8) an unlicensed entity that claims to be a certified public accounting firm shall pay a penalty of no less than $5,000.00 and no more than $25,000.00.
Source Note:The provisions of this §518.2 adopted to be effective December 3, 2003, 28 TexReg 10762.