(1) Retired status. (a) Any person who has received from the board and holds a certificate of certified public accountant, including an expired certificate of certified public accountant that remains subject to renewal, reactivation, or reinstatement, may apply to the board for retired status. The board may grant retired status by issuing a retired status certificate of certified public accountant to any person who meets established conditions prescribed by the board.
Any person issued a retired status certificate of certified public accountant may bestyled and known as a "retired certified public accountant" or "retired C.P.A."
During the time a certified public accountant remains in a retired status, the personshall not perform those acts set forth in section 12-100-116 (1)(a) and (1)(b). The board retains jurisdiction over retired status certified public accountants.
(2) Inactive status. (a) The holder of a certificate of certified public accountant, upon notice to the board in any form or manner designated by the board, shall have the holder's name transferred to an inactive list and shall not be required to comply with the continuing education requirements for certificate renewal pursuant to section 12-100-115 so long as the holder remains inactive. Each inactive certificant shall register in the same manner as active certificate holders and pay a fee pursuant to section 12-20-202 (1). To resume the practice of public accounting as a certified public accountant, the holder must file an application, meet any education requirements imposed by the board, and pay a fee as established by the director.
(b) During the time a certified public accountant remains in an inactive status, the certified public accountant shall not perform those acts restricted to active certified public accountants pursuant to section 12-100-116 (1)(a). The board retains jurisdiction over inactive certified public accountants for the purposes of disciplinary action pursuant to section 12-100120.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 801, § 1, effective October 1; entire section amended, (SB 19-155), ch. 235, p. 2334, § 14, effective October 1.
Editor's note: (1) (a) This section is similar to former § 12-2-115.5 as it existed prior to 2019.
(b) § 12-100-119 was relocated to subsection (2) in 2019.
(2) Before its relocation in 2019, this section was amended in SB 19-155. Those amendments were superseded by the repeal and reenactment of this title 12, effective October 1, 2019. For those amendments to the former section in effect from July 1, 2019, to October 1, 2019, see SB 19-155, chapter 235, Session Laws of Colorado 2019.