Facing disciplinary action is never a good feeling; it can be extremely upsetting to learn there is a threat against your certified public accountant (CPA) license. You are committed to helping your clients meet all their accounting needs, and your top priority is preserving your license.
You should always take allegations against your CPA license seriously. Losing your license can devastate your financial stability, relationships, and reputation. You do not want to risk these life-altering consequences due to disciplinary action against your license.
The Lento Law Firm Professional License Defense Team is here to fight tirelessly for your CPA license and uphold your livelihood. Our attorneys will guide you in the disciplinary process and ensure your interests are protected every step of the way. Our Team will prepare your defense, negotiate with the Board of Accountancy, and represent you in all communications and hearings. Fight for your CPA license today by calling the Lento Law Firm at 888-535-3686 or contact us online.
Colorado Certified Public Accounting Regulatory Body
The Colorado State Board of Accountancy handles most things related to the licensing and regulation of the practice of public accounting. The Board is led by one program director and seven Board members: five CPAs and two public members. The Board accepts and processes applications for CPA and certified public accounting firm licenses, addresses disciplinary complaints, and participates in developing and implementing regulations and policies for CPAs and certified public accounting firms.
The Board is housed within the Colorado Department of Regulatory Agencies Division of Professions and Occupations; you may encounter this Division in addition to the Board if you face disciplinary action against your license. The Division oversees over 500,000 licensed professionals from over 55 professions in the state. The Division maintains an online database that allows the public to verify the license of any licensed professionals and businesses in Colorado and view disciplinary actions for them.
Colorado Certified Public Accounting Laws and Regulations
The primary law regulating the practice of public accounting in Colorado is the Accountants Practice Act. This law dictates the process for applications, certifications, examinations, continuing education, complaints, grounds for denial and sanctions, and more. CPAs and public accounting firms must also follow the laws within the Colorado Revised Statutes, Title 12 Professions, and Occupations. These laws are related to all licensed professions and businesses, including but not limited to public accountancy.
CPAs and certified public accounting firms are also legally required to comply with all state regulations detailed in the Rules of the State Accountancy Board. These regulations include information on the education requirements for examination and certification, college or university accreditation, disciplinary actions, license maintenance, practice standards, and a variety of other areas.
Colorado Certified Public Accountant Allegations and Disciplinary Actions
Every case can look a little different, but generally, the disciplinary process against a CPA will follow this trajectory:
Complaints
Disciplinary action can begin in two ways: through receiving a complaint or if the Board finds reasonable grounds to believe an accountant has violated the Accountants Practice Act or corresponding regulations, it may open an investigation. Complaints are allegations that a CPA has violated the Accountants Practice Act or accountancy regulations. The Division will only accept complaints regarding violations of laws and regulations; they will not accept complaints related to other matters, such as customer service.
Complaints are filed with the Division of Professions and Occupations either online or through a form that can be submitted by mail or in person. The Division will accept anonymous complaints, but they are heavily discouraged as it is hard to investigate the case without all relevant information and interviews. Without complete information, the Board of Accountancy, which will receive the complaint, will likely drop the case since they cannot contact the complainant for further details. When a complaint is received, the CPA will be provided with a copy of the complaint and the documentation submitted with the complaint.
When a complaint is received, the Division will do a preliminary assessment to determine if a violation of the Accountants Practice Act or regulations has occurred. If the Division determines there is probable cause to believe the violation has occurred, an investigation will be opened. The complaint may also be dismissed at this juncture if it is determined that the Board does not have the jurisdiction to take action or there is insufficient evidence to support a violation. Even if the complaint is dismissed at this point, the Board may issue a Confidential Letter of Concern to the CPA. This letter will state that the Board does not think a violation has occurred, but they are still concerned about the CPA's practice of public accountancy and request that the CPA address specific issues.
Even if you believe the complaint against you doesn't have merits, you should immediately contact a Lento Law Firm attorney. Your license is too important to risk entering the disciplinary process without a seasoned professional license defense attorney, and the Lento Law Firm's Professional License Defense Team frequently represents Colorado CPAs.
Investigation
Upon receipt of a credible complaint, either the Board will open a case and begin an investigation, or the case will be referred to the Division's Offices of Enforcement to the Office of Investigations, Inspections, and Expedited Settlement. Investigations by the Board will generally include interviewing the person who made the complaint and other relevant parties, reviewing documentation submitted with the complaint, and collecting further evidence.
If the case is sent to the Office of Investigations, Inspections, and Expedited Settlement, it will first be sent to the Office of Investigation and assigned to an investigator. The CPA will receive notice if their complaint has been referred to the Office of Investigations. Investigators act as impartial and neutral fact finders; they do not represent the complainant, the Board, or the CPA. During the investigation, the investigator will contact the complainant, CPA, and potential witnesses, collect pertinent documents, and issue subpoenas as necessary. The investigator also has the authority to pull a third-party expert consultant to assist with the case.
All information is kept confidential during the investigative phase. The Office of Investigations typically receives 500-600 cases per year. Because of the overwhelming number of cases they receive, it often takes about 180 days to complete an investigation and between 6 and 8 months to complete a case.
Upon completion of their investigation, a written report will be provided to the Board. The CPA will not have access to the investigative report. At this time, the Board will review the report and decide the appropriate disciplinary action in the case. After the investigation, the Board also has the authority to refer the case to the Office of Expedited Settlements or the Office of the Attorney General.
Negotiations and Settlements
At this point, you should under no circumstance be facing the Board, the Office of Investigations, or the Office of Expedited Settlement without legal representation. Your Lento Law Firm attorney is your best tool for negotiating the best possible outcome for your CPA license. Your Lento Law Firm attorney can begin negotiating a settlement as early as during the investigative process. This may be a good option for those who are guilty of the violation against them and could be subject to severe disciplinary action such as license revocation or are looking to reduce the time and legal fees fighting the case would require.
Both the Board and the Office of Investigations can refer your case to the Office of Expedited Settlement. The Office of Expedited Settlement works to resolve disciplinary and licensing matters. Working with the Office of Expedited Settlement is an alternative to a formal hearing with the Administrative Courts. The staff in this office will work with you and your Lento Law Firm attorney to attempt to settle the matter in a way that is acceptable to you, the CPA, and the Board. Ultimately, the Board must accept the proposed settlement.
Formal Hearing
A formal hearing will occur when the investigative report finds you guilty of the allegation in the complaint. At this time, the Office of the Assistant Attorney General will file formal charges against you. The hearing will occur before an Administrative Law Judge.
A formal hearing is similar to a typical court case in that you will have your Lento Law Firm attorney present your case, including putting forth witnesses and evidence. This is your opportunity to have the Office of the Assistant Attorney General present the case against you on behalf of the Board. After the hearing, the Administrative Law Judge will issue an initial decision.
Determinations
Either party has the right to challenge the Administrative Law Judge's decision; you can do this through your Lento Law Firm attorney filing an exception with the Board. The Board may accept the Administrative Law Judge's opinion entirely or partially or even reverse the Judge's decision. The Board has the authority to take any of the below actions:
- Issue a Letter of Admonition (a public reprimand)
- Refer the case to the Office of Expedited Settlement
- Put the CPA on probation
- Require the CPA to participate in continuing education
- Issue a fine
- Suspend the CPA's license
- Revoke the CPA's license
- Pause the case until additional information is gathered, or wait for the outcome of civil or criminal litigation.
- Refer the case directly to the Attorney General to take legal action
- Other disciplinary actions the Board deems appropriate
Appeal
You have the legal right to appeal the Board's disciplinary action against your CPA license. If you choose to pursue an appeal, your Lento Law Firm attorney will file a case in the relevant court.
Even if you have yet to have an attorney representing you thus far, the Lento Law Firm can help. Our Team is often retained at the appeals stage and has been able to assist countless nurses in obtaining a better outcome.
Actions that Can Threaten Your CPA License
The Accountants Practice Act details numerous grounds for disciplinary action, including, but not limited to:
- Fraud or deceit in obtaining a CPA license
- Fraud or negligence in the practice of public accounting
- Conviction of a felony or crime with an element of dishonesty or fraud
- Disciplinary action taken against the CPA in another jurisdiction
- Failure to comply with continuing education requirements
- An act or omission that fails to meet the generally accepted accounting principles
- False, misleading, or deceptive advertising
- A substance or an alcohol use disorder that renders the CPA unfit to practice public accounting
- Fraudulent, coercive, or dishonest practices or demonstrated incompetence, trustworthiness, or financial irresponsibility in Colorado or any other state or country
- Violation of any formal rule promulgated by the Board of Accountancy
Areas We Serve in Colorado
The Lento Law Firm has represented CPAs all over Colorado. While we can work with you wherever you are located, our clients tend to come from larger cities, including Denver, Colorado Springs, Aurora, Fort Collins, and Lakewood.
Retain the Lento Law Firm Professional License Defense Team
Regardless of the nature or severity of the violation against you and your CPA license, the Lento Law Firm can help. Maintaining an active status on your CPA license is our top priority. We want to resolve this issue as soon as possible so you can get back to doing your job. You will never be alone in the disciplinary action process with the Lento Law Firm Professional License Defense Team on your side. Retain the Lento Law Firm today by calling 888-535-3686 or contacting us online.
