Section 400-RICR-00-00-1.3 - Licensing ProvisionsA. License Renewal Obligation. Licenses to practice public accountancy in Rhode Island are issued by the Board for three (3) year periods and it is the responsibility of every licensee engaged in the practice of public accounting to renew his or her license so as to maintain the license current and in good standing.B. Reinstatement of Expired Licenses 1. In addition to all other components of a renewal application, to apply for reinstatement of an expired license, the applicant must document completion of not less than one hundred twenty (120) hours of CPE credits during the preceding three (3) year period and pay a fee of five hundred dollars ($500.00).2. In addition to the requirements of § 1.3(B)(1) of this Part, any person whose license has been expired for five (5) years or more shall also be required to document satisfaction of one (1) of the following two (2) additional educational requirements: a. Complete attendance at a CPA exam review course in a classroom setting approved by the Board; orb. Completion of an additional one hundred twenty (120) hours of CPE credits during the preceding three (3) year period (for a total of two hundred forty (240) hours of CPE credits during the preceding three (3) year period). For the purposes of calculating compliance with this alternative, any subject matter hour specifications should be doubled.C. Inactive Status1. The Board does not recognize any inactive status other than for Retired CPAS. Licenses are either active or expired. Expired licenses may be reinstated in accordance with § 1.3(B) of this Part.a. Any person whose license was on "Voluntary Temporary Hold Status," an inactive status previously recognized by the Board, may apply for reinstatement in accordance with § 1.3(B) of this Part.2. Retired Status a. Any CPA who currently holds a license issued by the Board that is active and in good standing and who has attained the age of fifty-five (55) may request that their license be placed in retired status, exempting them from renewal and CPE requirements, provided that:(1) The Licensee is not actively engaged in any services that require a CPA;(2) The Licensee places the word "retired" adjacent to their CPA title on any signature, business card, letterhead, correspondence, website or other digital media, and any other document or device, with the exception of their CPA certificate; and(3) The Licensee affirms in writing that they understand that they cannot offer or render professional services that require their signature and use of the CPA title either with or without "retired" attached.b. Licensees who hold themselves out as retired status may provide the following volunteer, uncompensated services: tax preparation services, participating in a government sponsored business mentoring program, serving on the board of directors for a nonprofit or governmental organization, or serving on a government-appointed advisory body. (1) Licensees may not be compensated for such volunteer service other than through reimbursement of actual expenses or a limited per diem allowance for expenses.(2) Licensees have the responsibility to maintain professional competence relative to the volunteer services they provide even though excepted from the specific CPE requirements of § 1.8 of this Part.c. Retired status is also available to any currently licensed PA under the same requirements for CPAs set forth in §§ 1.3(C)(2)(a) & (b) of this Part.3. Nothing herein shall be construed to limit the Board's disciplinary authority with regards to a license in "retired" status or the previously recognized "voluntary temporary hold" status.4. Reinstatement of Retired License Licensees in retired status may apply to reinstate their license and discontinue the use of the word "retired" in association with their license by applying for reinstatement in accordance with § 1.3(B) of this Part.
D. Applicants Applying for Licensure on the Basis of Credentials from Foreign Jurisdictions 1. For purposes of evaluating whether an applicant qualifies for a license pursuant to R.I. Gen. Laws § 5-3.1-8, the Board may rely on and defer to the determination of the IQAB or any successor or equivalent entity created by NASBA and/or AICPA to evaluate whether a professional accounting credential issued by a credentialing authority in a foreign country is substantially equivalent to the credentialing standards used in the United States. The Board may presume the credential of an applicant with a foreign accounting credential that is covered by a currently valid Mutual Recognition Agreement (MRA) is substantially equivalent.2. In addition to documentation of substantial equivalency from the IQAB, to qualify under R.I. Gen. Laws § 5-3.1-8, the applicant must satisfy the following minimum requirements: a. Passage of the International Qualification Examination administered by NASBA or another qualifying examination developed, administered, and graded by NASBA, the AICPA, or other similar professional body that the Board determines to be an acceptable qualifying examination;b. Completion of the AICPA Ethics course and passage of the AICPA Ethics Examination with a score of ninety percent (90%) or better; andc. Satisfaction of the one (1) year experience requirement pursuant to R.I. Gen. Laws § 5-3.1-5(a)(5).3. Applicants with credentials from a foreign jurisdiction who do not have documentation of substantial equivalency from the IQAB shall be required to satisfy all requirements for applicants for initial licensure in Rhode Island, including the uniform examination, education and experience requirements detailed in these Regulations. Such applications shall be made in accordance with the same procedures and require the same forms and documentation as a candidate for initial licensure without foreign credentials.E. Duty to Update Contact Information and Timely Respond to the Board. Licensees have an inherent and serious duty to maintain accurate contact information on file with the Board, update it immediately if it changes, and review and respond to correspondence from the Board in a timely manner. The Board's primary mode of contact is via e-mail.400 R.I. Code R. 400-RICR-00-00-1.3
Amended effective 8/4/2020
Amended effective 4/4/2022
Amended effective 2/19/2023