The Board may
designate a professional accounting credential issued in a foreign country as
substantially equivalent to a CPA certificate.
(a) The Board may rely on the International
Qualifications Appraisal Board for evaluation of foreign credential
The Board may
accept a foreign accounting credential in partial satisfaction of its domestic
credentialing requirements if:
1. the holder
of the foreign accounting credential met the issuing body's education
requirement and passed the issuing body's examination used to qualify its own
domestic candidates; and
foreign credential is valid and in good standing at the time of application for
a domestic credential.
(2) The Board may satisfy itself through
qualifying examination(s) that the holder of a foreign credential deemed by the
Board to be substantially equivalent to a CPA certificate possesses adequate
knowledge of U.S. practice standards and the Board's regulations. The Board may
rely on the National Association of State Boards of Accountancy, the American
Institute of Certified Public Accountants, or other professional bodies to
develop, administer, and grade such qualifying examination(s). The Board will
specify the qualifying examination(s) and process by policy.
An applicant for renewal of a CPA
certificate originally issued in reliance on a foreign accounting credential
(a) Make application for renewal at the
time and in the manner prescribed by the Board for all other certificate
(b) Pay such fees as are
prescribed for all other certificate renewals;
(c) If the applicant has a foreign credential
in effect at the time of the application for renewal of the CPA certification,
he/she must present documentation from the foreign accounting credential
issuing body that the applicant's foreign credential has not been suspended or
revoked and the applicant is not the subject of a current investigation. If the
applicant for renewal no longer has a foreign credential, the applicant must
present proof from the foreign credentialing body that the applicant for
renewal was not the subject of any disciplinary proceedings or investigations
at the time that the foreign credential lapsed; and
(d) Either show completion of continuing
professional education substantially equivalent to that required under rule
0020-5-.03 within the two (2) year period preceding renewal application, or
petition the Board for complete or partial waiver of the CPE requirement based
on the ratio of foreign practice to practice in this State.
(4) The holder of a CPA
certificate issued in reliance on a foreign accounting credential shall report
any investigations undertaken, or sanctions imposed, by a foreign credentialing
body against the CPA's foreign credential.
(5) Suspension or revocation of, or refusal
to renew, the CPA's foreign accounting credential by the foreign credentialing
body may be evidence of conduct reflecting adversely upon the CPA's fitness to
retain the certificate and may be a basis for Board action.
(6) Conviction of a felony or any crime
involving dishonesty or fraud under the laws of a foreign country is evidence
of conduct reflecting adversely on the CPA's fitness to retain the certificate
and is a basis for Board action.
(7) The Board shall notify the appropriate
foreign credentialing authorities of any sanctions imposed against a
(8) The Board may participate
in joint investigations with foreign credentialing bodies and may rely on
evidence supplied by such bodies in disciplinary hearings.
Tenn. Comp. R. & Regs.
Original rule filed May 13,
1991; effective June 27, 1991. Repeal filed August 2, 1996; effective October
16, 1996. Original rule filed June 10, 1999; effective August 24,
Authority: T.C.A. §§