As a result of an investigation of alleged violations of the Codes of Professional Conduct of the AICPA and the Tennessee Society of Certified Public Accountants (“TSCPA”), Mr. Kincaid entered into a settlement agreement under the Joint Ethics Enforcement Program, effective May 19, 2014.
Information came to the attention of the Ethics Charging Authority (“ECA”) (comprised of the AICPA Professional Ethics Executive Committee and the TSCPA) that the Tennessee State Board of Accountancy (“Board”) found Mr. Kincaid’s firm, William L. Kincaid, CPA, PLLC in violation of the Tennessee Accountancy Act of 1998. After an investigation, Mr. Kincaid was charged with violating the following rule of the AICPA, and the TSCPA Codes of Professional Conduct:
Rule 501 – Acts Discreditable
Mr. Kincaid failed to comply with peer review requirements in a timely manner, failed to renew his CPA firm permit in a timely manner, and performed attest services on an invalid CPA firm permit and found inconsistencies in his statements regarding when he ceased performing the attest function.
In consideration of the ECA forgoing further investigation of Mr. Kincaid’s conduct as described above and in consideration of the ECA forgoing any further proceedings in the matter, Mr. Kincaid agrees as follows:
a. To waive his rights to a hearing under AICPA bylaws section 7.4 and Article 6, Section 6.5 of the
TSCPA Bylaw Article XII.
b. To neither admit nor deny the above specified charges.
c. To comply immediately with professional standards applicable to the professional services he performs. d. To be admonished by the AICPA and TSCPA.
e. That the ECA shall publish his name, the name of his firm, the charges, and the terms of this settlement