Dallas (June 13, 2003) -- Lone Star legislators have given the Texas State Board of Public Accountancy a set of sharpened regulatory teeth, empowering the board with subpoena power, the authority to share information with other law enforcement agencies, and make information about disciplinary action more available to the public.

In addition, state lawmakers enacted felony penalty provisions, giving up to 20 years in prison for acts of intentional fraud, establishing a $25,000 fine for impersonating a CPA, and increased the maximum fine to $100,000 for violations of the accountancy act.

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