Which statement accurately describes the differences between the FAC and BPC regarding civil penalties?

The statement indicating that the FAC allows penalties against any person while the BPC restricts penalties to only licensees captures a key distinction in the regulatory frameworks of these two codes. The FAC, or the Fair Accountancy Code, is designed to uphold ethical practices across a broader spectrum, ensuring that any individual—whether they are licensed professionals or not—can be held accountable for infractions pertaining to financial accountability and reporting.

In contrast, the BPC, or Business and Professions Code, specifically targets individuals and entities that are licensed under its regulations. This delineation is significant; it reflects an understanding that certain professions have additional responsibilities and stipulations, thereby justifying a different scope of penalties. By holding only licensees accountable, the BPC reinforces the standards expected of certified professionals while allowing for a broader implications of misconduct under the FAC.

This distinction highlights the different objectives and contexts in which these codes operate, reflecting a tailored approach to regulation based on the nature of the professionals being addressed. Thus, the correct statement effectively represents the structural differences between civil penalty applications of the FAC and the BPC.