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Board committee weighs stronger penalties for peer-review noncompliance but cites statutory limits
Summary
The Law & Rules Committee discussed whether civil penalties and the discipline matrix should be revised to better deter firms that avoid required peer review, but staff said state statute constrains the board to $1,000 per violation per day unless changed by the legislature.
The Law & Rules Committee of the Tennessee State Board of Accountancy spent significant time on Feb. 3 debating how to make penalties for failing to comply with peer-review requirements more punitive and harder to treat as a calculated cost of noncompliance.
John Griesbeck, chair of the Law & Rules Committee, summarized the 2023 discipline-matrix revisions and said the matrix was intended to provide consistent, incremental penalties for violations. Legal counsel told the committee that the board's authority for civil penalties is governed by a general provision in the Tennessee Code, Title 56, Chapter 1, which limits civil penalties to $1,000 per violation per day. Counsel noted the board may use the per-violation,…
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