The bill amends the 1999 Public Accountancy Act in New Mexico to update the definitions and qualifications for certification as a certified public accountant. Key insertions include a new definition for "accounting experience," which allows for experience gained through various employment sectors, and the introduction of "comparable licensure requirements" for practitioners from other states. The educational requirements for certification are also modified, permitting various combinations of degrees and accounting experience, while applicants must demonstrate good moral character. The bill emphasizes the importance of continuing professional education for maintaining competency and allows for provisional certificates during appeals.

Additionally, the bill clarifies the practice privileges for out-of-state licensed individuals, requiring them to consent to the New Mexico board's jurisdiction and disciplinary authority. It establishes that these individuals must comply with the Public Accountancy Act and outlines the board's authority to act as an agent for service of process in disciplinary actions. The bill also introduces a fee structure for certificate holders, permit holders, and applicants, allowing the board to collect specific fees for services such as examination and certificate issuance, with a maximum biennial renewal fee set at twice the annual fee. Overall, these amendments aim to streamline the certification process and align public accountancy practices in New Mexico with national standards.

Statutes affected:
introduced version: 61-28B-3, 61-28B-8, 61-28B-9, 61-28B-11, 61-28B-13, 61-28B-17, 61-28B-26, 61-28B-27