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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoHeader align=center style='text-align:center'><span style='font-size:18.0pt;font-family:"Arial","sans-serif"'><img width=76 height=75 id="Picture_x0020_1" src="cid:image002.png@01CD0CE7.1E5DE0E0"></span><span style='font-size:18.0pt;font-family:"Arial","sans-serif"'><o:p></o:p></span></p><p class=MsoHeader align=center style='text-align:center'><span style='font-size:18.0pt;font-family:"Arial","sans-serif"'>Oregon Board of Accountancy<o:p></o:p></span></p><p class=MsoHeader align=center style='text-align:center'><span style='font-size:18.0pt;font-family:"Arial","sans-serif"'>Qualifying for Retired Status<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>The Board of Accountancy recently disseminated information about the new requirement that licensees holding Inactive status must complete 32 hours of CPE during each two-year renewal period. The responses we received from many of you indicate we should have included information about the newly created “Retired” status. We sincerely apologize for that oversight.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Elements of the new “Retired” status include the following:<o:p></o:p></span></p><p class=MsoNormal align=right style='text-align:right'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>A. <u>Qualifications<o:p></o:p></u></span></p><p class=MsoNormal><u><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p><span style='text-decoration:none'> </span></o:p></span></u></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l2 level1 lfo1'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Must have held an Active license, in good standing<span style='color:#1F497D'> </span>in Oregon, for a combined (not consecutive) period of not less than 20 years; or<o:p></o:p></span></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l2 level1 lfo1'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Have reached<span style='color:red'> </span>65 years of age<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>B. <u>A licensee in retired status <b><i>may not:<o:p></o:p></i></b></u></span></p><p class=MsoNormal style='margin-left:.5in'><b><i><u><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p><span style='text-decoration:none'> </span></o:p></span></u></i></b></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Perform any attest services nor sign any tax return as a paid CPA or PA preparer; or<o:p></o:p></span></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo2'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Perform any other public accounting services for direct or indirect compensation<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>C. <u>A licensee in retired status <b><i>may:</i></b></u><o:p></o:p></span></p><p class=MsoNormal style='margin-left:.5in'><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l1 level1 lfo3'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Perform uncompensated accounting services, such as volunteer work; and<o:p></o:p></span></p><p class=MsoListParagraph style='margin-left:.75in;text-indent:-.25in;mso-list:l1 level1 lfo3'><![if !supportLists]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Sign any documents related to non-compensated services as “CPA Retired” or “PA Retired.” The word “Retired” must be in the same size font as the designation.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>D. A licensee in retired status may be restored to active status, at the Board’s discretion, upon a showing of good cause.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>E. The biennial fee for maintaining Retired status is $25.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>You can review the </span><a href="http://www.oregon.gov/BOA/adminrules.shtml"><span style='font-size:12.0pt;font-family:"Arial","sans-serif";color:windowtext;text-decoration:none'>Oregon Administrative Rule, Division 005</span></a><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'> regarding Retired status, and changes to Inactive status on the Board’s website at </span><a href="http://www.oregon.gov/BOA/adminrules.shtml"><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>http://www.oregon.gov/BOA/adminrules.shtml</span></a><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>If you believe you qualify, and would like to apply to Retired status, please submit your application regardless of your expiration date. <b>If your license is currently lapsed, you must apply for retired status prior to July 1, 2012. </b>After July 1 lapsed licenses will need to reinstate prior to applying for retired status.<o:p></o:p></span></p><p class=MsoNormal><b><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></b></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'>Applications, Qualifications and further information can be found on the Board’s website by clicking the following link: <a href="http://www.oregon.gov/BOA/forms.shtml#Retired_Application">http://www.oregon.gov/BOA/forms.shtml#Retired_Application</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-family:"Arial","sans-serif"'><o:p> </o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Freestyle Script"'>Kimberly Sisk<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt'>Executive Assistant<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt'>Oregon Board of Accountancy<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt'>503.378.2268</span><span style='font-size:12.0pt;font-family:Pristina'><o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>