firm. A. After notice and hearing the Board shall revoke the registration and all permits of a firm if at any time it does not have all of the qualifications required for registration pursuant to the provisions of the Oklahoma Accountancy Act. B. After notice and hearing, the Board may impose any one or more of the penalties authorized in Section 15.24 of this title on a firm for any one or more of the following causes: 1. The revocation or suspension of the certificate or license of any partner or shareholder issued in accordance with the Oklahoma Accountancy Act; 2. Failure to maintain compliance with the requirements for issuance or renewal of the permit of the firm; 3. Failure to sign accountants’ opinions in the firm name, except in instances in which a governmental agency shall require the signature to be that of an individual; 4. Fraud or deceit by any partner or shareholder in obtaining the firm permit; 5. Except sole proprietorships, failure to file income tax returns in the name of the firm; and 6. Dishonesty, fraud, or gross negligence in the practice of public accounting by any partner, shareholder, or employee of the firm in the name of the firm. Laws 1965, c. 188, § 16, emerg. eff. June 8, 1965; Laws 1992, c. 272, § 22, eff. Sept. 1, 1992; Laws 2004, c. 125, § 21, eff. Nov. 1, 2004.
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