On receipt of a written application, and after notice and hearing, the board may:
(1) issue a new certificate to an individual whose certificate was revoked;
(2) issue a new firm license to a person whose firm license was revoked;
(3) reinstate a suspended license or modify the terms of the suspension;
(4) approve a previously denied application to take the uniform CPA examination; or
(5) reinstate an individual's previously voided uniform CPA examination grades.