We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Disciplinary Actions by State Boards of Accountancy 2008-2014: Causes and Outcomes.
- Authors
Krom, Cynthia L.
- Abstract
This study examined the 775 disciplinary actions taken against individual CPAs by the boards of accountancy in the four states with the largest number of CPAs between 2008 and 2014. It was determined that monetary penalties were imposed in 68 percent of individual CPA disciplinary cases, with a median penalty of less than $5,000. Non-monetary sanctions were imposed in nearly all the cases. The most severe penalty-permanent revocation or surrender of the professional license-was less likely in actions involving attest issues than for most other causes, but was invoked in a large percent of disciplinary actions based on felonies and misdemeanors including ''social'' crimes such as DUI. Disciplinary actions against CPA firms in the same states during the same time period were analyzed, and it was determined that only 13 of those cases were separable from the actions against individual CPAs, suggesting that firms are not disciplined in lieu of taking action against individuals. Questions are raised about the effectiveness of state board sanctions in punishing and deterring professional misconduct, and the legality and wisdom of licensure sanctions for conduct outside the scope of professional responsibility.
- Subjects
ACCOUNTANTS; ACCOUNTING; FINES (Penalties); MISDEMEANORS; MISCONDUCT in public office
- Publication
Accounting & the Public Interest, 2016, Vol 16, Issue 1, p1
- ISSN
1530-9320
- Publication type
Article
- DOI
10.2308/apin-51609