New Mexico Register / Volume XXXI,
Issue 13 / July 14, 2020
PUBLIC RULE
HEARING AND REGULAR BOARD MEETING
The
New Mexico Public Accountancy Board (“Board”) will hold a rule hearing on Tuesday,
August 25, 2020 at 9:00 a.m. Please note that this hearing is a rescheduled
hearing from the postponed hearing on April 28, 2020 that was originally
noticed with the NM State Records and Archives on February 25, 2020. Following the rule hearing, the Board will
convene a board meeting to consider adoption of the rules and address regular
business. The rule hearing and board
meeting will be held online and telephonically via Cisco Webex
Meetings in Albuquerque, New Mexico. An NMPAB staff member will be present
between 8:00a.m – 9:00a.m. on the day of the rule
hearing at the Regulation and Licensing Department, 5500 San Antonio Dr. NE,
Albuquerque, NM 87109, to accept public comment in written form. The NMPAB
staff member will then present the public comment during the rules hearing.
To join the meeting online by Cisco Webex Meeting, please use the following link:
https://nmrld.webex.com/nmrld/onstage/g.php?MTID=ea41e521c22b2b002494f8f1a72696893
To join the meeting by phone 1-415-655-0002 United States Toll
Meeting number (access code): 146
966 1174
Suggestions
for Successful Webex Meeting Attendance are available
on the Board’s website.
http://www.rld.state.nm.us/boards/Accountancy_Members_and_Meetings.aspx
The
purpose of the rule hearing is to consider proposed amendments to the following
rules:
16.60.1.7
NMAC – Definitions;
16.60.1.9
NMAC – Board Operation;
16.60.1.10
NMAC – Fees and Obligations;
16.60.2.10
NMAC – Examination Administration;
16.60.3.8
NMAC – Application Requirements;
16.60.3.9
NMAC – Initial Certificate/License Requirements
16.60.3.12
NMAC – Reinstatement Requirements
16.60.3.15
NMAC – Continuing Professional Education (CPE) Required to Obtain or Maintain
an “Active” CPA License;
16.60.4.8
NMAC – Firm Permit Application, Renewal, Reinstatement and Notification
Requirements;
16.60.5.11
NMAC – Rules of Conduct; and
16.60.5.13 NMAC – Unauthorized Use of the CPA Title.
To
obtain and review copies of the proposed changes you may go to the Board’s website at: http://www.rld.state.nm.us/boards/Accountancy.aspx or
contact the New Mexico Public Accountancy Board at by email at Accountancy.Board@state.nm.us.
The
Board is currently accepting public comments on the proposed amendments. Please submit written comments on the
proposed changes to Jeanette Contreras, Board Executive Director, via
electronic mail at Accountancy.Board@state.nm.us by regular mail at 5500 San
Antonio Dr. NE, Albuquerque, NM 87109, no later than Monday, August 24, 2020. Persons will also be given the opportunity to
drop off their comments prior to the rule hearing. An NMPAB staff member will
be present between 8:00a.m – 9:00a.m. on the day of
the rule hearing at the Regulation and Licensing Department, 5500 San Antonio
Dr. NE, Albuquerque, NM 87109, to accept public comment in written form. The
NMPAB staff will then present the public comment during the rules hearing.
All
written comments will be posted to the Board’s website at: http://www.rld.state.nm.us/boards/Accountancy.aspx,
no more than three business days following receipt to allow for public viewing.
An individual with a disability who is in need of a
reader, amplifier, qualified sign language interpreter, or other form of
auxiliary aid or service to attend or participate in the hearing, please
contact Jeanette Contreras, Board Executive Director by email at
Jeanette.Contreras@state.nm.us.
Statutory
Authority: The 1999 New Mexico Public Accountancy Act,
Sections 61-28B-5, NMSA 1978, among other provisions, specifically authorizes
the Board to “adopt and file rules necessary to carry out the provisions of the
1999 Public Accountancy Act.”
Summary of
Proposed Changes:
In
addition to making minor clarification changes, the proposed rules are
summarized as follows:
16.60.1.7 NMAC -
Definitions
The
amendments to this section clarify and create new definitions that will create
better understanding of the Act.
16.60.1.9 NMAC -
Board Operation
The
amendment to this section will create flexibility for unforeseen situations in
regards to the amount of board meetings required a year.
16.60.1.10 NMAC
– Fees and Obligations
The
amendment to this section will remove the fee charged for a name change due to
marriage, divorce, legal name change, etc.
16.60.2.10
NMAC - Examination Administration
The amendment to this section will increase the amount
of times a candidate can retake the exam, which will be in accordance with
proposed 2020 law change.
16.60.3.8 NMAC -
Application Requirements
The
amendments to this section will allow the board to accept electronic signatures.
16.60.3.9 NMAC -
Initial Certificate/License Requirements
The
amendment to this section will update the facility used for required background
checks and will clarify what is considered a complete renewal application.
16.60.3.12 NMAC
- Reinstatement Requirements
The
amendment to this section will allow the board the opportunity to assess the
professional competence of an applicant after five (5) years of not practicing
Certified Public Accountancy.
16.60.3.15 NMAC
- Continuing Professional Education (CPE) Required to Obtain or Maintain an
“Active” CPA License
The
amendments to this section will clarify what is considered a complete renewal application;
specify what services an “inactive” license holder can perform; assess the
competency of a licensee requesting “active” status after being in “inactive”
status for five (5) or more years; comply with the Uniform Accountancy Act
model rules and current nano-learning methods and to
maintain reciprocity with states adapting new rules; clarify what is acceptable
publications to earn continuing professional education; clarify what is
considered technical continuing professional education; add to what is required
on a continuing profession education completion certificate; and add records of
completion as evidence of compliance with CPE requirements.
16.60.4.8 NMAC -
Firm Permit Application, Renewal, Reinstatement and Notification Requirements
The
amendment to this section will comply with the firm mobility law and allow the Board
to accept electronic signatures.
16.60.5.11 NMAC
- Rules of Conduct
The
amendment to this section will allow the public the opportunity to ensure their
Certified Public Accountant carries an active license or firm permit.
16.60.5.13 NMAC
- Unauthorized Use of the CPA Title
The
amendments to this section will clarify the “response” requirements for board
communications and to comply with firm mobility law changes.