Business & Financial Solutions
Business & Financial Solutions
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Organizations That Can Revoke An Individual To Practice As A CPA

Revocation of Certified Public Accounts credentials

Accountants, the number cruncher’s we rely on them to keep our finances in order and reduce our tax bills. Sometimes our trusted accountants and CPA’s (certified public accounts) start fiddling the books, or run off to Hawaii with our money. When this happens, they need to be put out of business. If you need to get a CPA’s license revoked, you can do so with the help of the following organizations.

What would warrant a revocation of a certified public accounts credentials?

Accountants are placed in a position of trust in society, but there are some accounts who are happy to break the law when they do, they are likely to lose everything they have worked for. Some of the reasons for losing a license would be:

– Negligent behavior such as fraud
– Errors in bookkeeping (cooking the books)
– Violating codes of conduct
– Fraudulent fee schedules
– A Felony conviction
– Theft
– Incompetence in the role of a certified public account

The Public Company Accounting Oversight Board can revoke an accounts license

The Public Company Accounting Oversight Board or PCAOB is an oversight committee tasked with investigating complaints into CPA’s. Once a complaint about a certified public accountant arises, the board launches an investigation into the certified public accountant and appropriate action is taken. Depending on the severity of the allegations the accountant may be sanctioned or struck off. All bars or terminations can be challenged, and the PCAOB has international contacts to help enforce their rulings. Hence, the accountant can’t just go overseas and set up shop. Anyone who wishes to make a complaint can do so through the organization’s official website.

The Securities and Exchange Commission

The SEC as it is more commonly known, is the over-site commission of all aspects of the stock exchange and accountants. The SEC can and will blacklist CPA’s and even bring about criminal charges on behalf of the United States government. SEC investigations are often drawn out, but with enough evidence, the SEC will place temporary sanctions of a certified public accountant while waiting for the outcome of the investigation. In addition to being struck off or having your certified public accountant license revoked the SEC can also put a certified public accountant in jail if the charges are severe enough to warrant jail time.

The State Board of Accountancy

Every state has a state board of accountancy that oversees local and state laws that influence certified public accountants and regulate the trade. If you have a problem with a CPA, then it is advisable to start with a complaint at a local level. The state board has the power to arbitrate any issues and make recommendations, impose sanctions, or even blacklist the accountant in question.

Accounts are placed in a position of trust and should always be held accountable for their actions no matter the severity of the crime or misfeasance committed. Business and Financial Solutions has been in business for over 17 years. One of the most trusted CPA firms in the Maryland Virginia area. If you are having an issue with your accountant contact us today.

Office Locations In Maryland

5100 Buckeystown Pike Ste 250, Frederick, MD 21704

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17 W Jefferson St Ste 007, Rockville, MD 20850

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Office Location In Virginia

7918 Jones Branch Drive, Ste 405, Tysons VA 22102

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Office Location In Texas

101 E. Park Blvd, Suite 600 Plano TX 75074

About BFS

Visit us in McLean Virginia, Frederick or Rockville, Maryland (Washington DC Metro Area)or Plano Texas

Phone toll free: (855) 557-2222
Fax: (240) 297-1054
E-mail: info@bfswebsite.com

Business & Financial Solutions is a tax and accounting CPA firm. Our offices are located in Fairfax County, VA, Collin County and Denton County, TX, Montgomery and Frederick Counties, MD. Our company is highly motivated in helping individuals and companies (private and non-profit) become successful in start-ups. BFS offers assistance with ongoing small to mid-size business management, consulting, accounting and a variety of tax services.

Maryland, Virginia, Washington DC, Texas
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