New
Mexico Register / Volume XXXVII, Issue 1 / January 13, 2026
This is an
amendment to 16.60.3 NMAC, Sections 9, 13, 14 and 15 effective 1/13/2026
16.60.3.9 INITIAL CERTIFICATE/LICENSE
REQUIREMENTS:
A. An
applicant for initial certification/licensure shall demonstrate to the board's
satisfaction that he:
(1) lacks a history of dishonest or felonious acts;
(2) meets the education, experience and examination
requirements of the board; and
(3) passes the American institute of certified public
accountants ethics examination with a score of ninety percent or higher.
B. Integrity
requirement: The board may assess
integrity based upon applicant-provided references and background checks to
determine an applicant's history of dishonest or felonious acts. The board may request the presence at a board
meeting of an applicant for whom it has unanswered questions.
C. Criminal
history background check: Pursuant to
Section 61-28B-8.1 NMSA 1978 of the act, all applicants for initial
issuance or reinstatement of a certificate and license in New Mexico shall be
required to be fingerprinted to establish positive identification for a state
and federal criminal history background check.
Applicants can submit fingerprints through the board approved live scan
location prescribed by the New Mexico Department of Public Safety (DPS).
(1) The applicant will register online, through the approved live scan
website, with the board’s Originating Agency Identification (ORI) number and
make payment with registration. After
the process is complete, the applicant will receive a registration
confirmation.
(2) The applicant shall take their registration confirmation
to an approved live scan facility and conduct the electronic fingerprinting
process.
(3) Results will be sent to the board electronically. The board shall not issue a certificate or
license until the applicant’s background check has been successfully completed.
(4) Out-of-State applicants, who are unable to visit an
approved live scan fingerprinting facility, may follow the same registration
process and submit a hardcopy fingerprint card to the approved live scan
facility. The results will be sent to
the board electronically. The board
shall not issue a certificate or license until the applicant’s background check
has been successfully completed.
D. Education
and examination requirements: Education and examination requirements are
specified in Section 8 of the act and are further delineated in Part 2 of board
rules. [An applicant who has passed the uniform CPA examination prior to
July 1, 2004, is exempt from the 150-semester-hour requirement.]
E. Experience required: Applicants
documenting their required experience for issuance of an initial certificate [pursuant
to Subsection H of Section 7 of the act, and after July 1, 2004
Subsection H of Section 8] of the act shall:
(1) provide
documentation of experience in providing any type of services or advice using
accounting, attest, management advisory, financial advisory, tax or consulting
skills; acceptable experience shall include experience gained through
employment in industry, government, academia or public practice;
(2) have
their experience verified by an active, licensed CPA as defined in the act or
by an active, licensed CPA from another state; the board shall consider and
evaluate factors such as complexity and diversity of the work in determining
acceptability of experience submitted:
(a) one
year of experience or it’s 2,000 hour equivalent shall consist of full or
part-time employment that extends over a period of no more than three years and
includes no fewer than 2,000 hours of performance of services described above;
(b) two years of experience or its 4,000
hour equivalent shall consist of full or part-time employment that extends over
a period of no more than six years and includes no fewer than 4,000 hours
performance of services described above;
[(b)] (c) the CPA verifying an applicant’s experience
must be employed by, or a consultant to, or provide professional services to,
the same organization as the applicant;
[(c)] (d) experience documented in support of an initial
application must be obtained within the seven years immediately preceding
passing of the examination or within seven years of having passed the
examination upon which the application is based; [this does not apply to
applicants who qualified and sat for the examination during or prior to the
November 2001 administration;]
[(d)] (e) any licensee requested by an applicant to
submit evidence of the applicant’s experience and who has refused to do so
shall, upon request of the board, explain in writing or in person the basis for
such refusal; the board may require any licensee who has furnished evidence of
an applicant’s experience to substantiate the information;
[(e)] (f) the board may inspect documentation relating
to an applicant’s claimed experience; any applicant may be required to appear
before the board or its representative to supplement or verify evidence of
experience.
F. Certificate
and license issuance: upon receipt of a
complete application packet and successful completion of a fingerprint
background check, board staff are authorized to approve and issue a certificate
and license to an applicant for whom no licensing issues are present. Pursuant to Subsection I of 16.60.2.13 NMAC,
uniform CPA examination scores must be approved by the board’s administrative
staff prior to the issuance of a certificate and license to an applicant who
sat for the uniform CPA examination as a New Mexico candidate.
G. Swearing in ceremony: Every new
licensee [must] may participate in a swearing in ceremony. [before
the board within one year from the date of the issuance of the initial
license. Swearing in ceremonies may be
held two times per year in locations to be determined by the board or the
board’s administrative staff. Upon good
cause presented in writing prior to the expiration of the one-year period of
initial licensure, the board may extend the period for being sworn in or
arrange an alternate method for the licensee to be sworn in. If an extension
for good cause is granted, the licensee shall arrange with the board’s
administrative staff to present him or herself for swearing in before the board
within the time prescribed by the board.
Failure to appear at a swearing in ceremony before the board may result
in the imposition of a fine or other disciplinary action, as deemed appropriate
by the board.]
H. Replacement
wall certificates and licenses to practice:
Replacement wall certificates and licenses to practice may be issued by
the board in appropriate cases and upon payment by the CPA or RPA of the fee as
set by the board. A certificate/license
holder is specifically prohibited from possessing more than one wall
certificate and more than one license to practice as a CPA or RPA. When a replacement wall certificate or
license to practice is requested, the certificate/license holder must return
the original certificate/license or submit a statement describing the
occurrence that necessitated the replacement certificate or license.
I. Renewal
requirements: Certificates/licenses for
individuals will have staggered expiration dates based on the individual's
birth month. Deadline for receipt of
certificate/license renewal applications and supporting continuing professional
education affidavits or reports is no later than the last day of the CPA or RPA
certificate/license holder's birth month or the next business day if the
deadline date falls on a weekend or holiday.
(1) The
board may accept a sworn affidavit as evidence of certificate/license holder
compliance with CPE requirements in support of renewal applications.
(2) Renewal
applications and CPE reports received after prescribed deadlines shall include
prescribed delinquency fees.
(3) Applications
will not be considered complete without satisfactory evidence to the board that
the applicant has complied with the continuing professional education
requirements of Subsection E of Sections 9 and Subsection A of Section12 of the
act and of these rules.
(4) The
board shall send renewal application notices no less than 30 days prior to the
renewal deadline.
J. The
purpose of this part is to expedite licensure for military service members,
their spouses, their dependent children and for veterans pursuant to Section 61-1-34
NMSA 1978.
(1) Applications for registration shall be
completed on a form provided by the board.
(2) The
applicant shall provide a complete application that includes the following information:
(a) applicant’s full name;
(b) current mailing address;
(c) current electronic mail address, if
any;
(d) date of birth;
(e) background check, if required; and
(f) proof as described in subsection (3)
below.
(3) The applicant shall provide the
following satisfactory evidence as follows:
(a) applicant is currently licensed and
in good standing in another jurisdiction, including a branch of the United
States armed forces;
(b) applicant has met the minimal
licensing requirements in that jurisdiction and the minimal licensing
requirements in that jurisdiction are [substantially equivalent] comparable
license requirements to the licensing requirements for New Mexico; and
(c) the following documentation:
(i) for
military service member: copy of
military orders;
(ii) for spouse of military service
members: copy of military service
member’s military orders, and copy of marriage license;
(iii) for spouses of deceased military
service members: copy of decedent’s DD
214 and copy of marriage license;
(iv) for dependent children of military
service members: copy of military service member’s orders listing dependent
child, or a copy of military orders and one of the following: copy of birth certificate, military service
member’s federal tax return or other governmental or judicial
documentation establishing dependency;
(v) for veterans (retired or
separated): copy of DD 214 showing proof
of honorable discharge.
(4) The
license or registration shall be issued by the board as soon as practicable but
no later than thirty days after a
qualified military service member, spouse, dependent child, or veteran files a
complete application and provides a background check if required for a license, and any required fees.
(5) Military
service members and veterans shall not pay and the board shall not charge a licensing fee for the first three years
for a license issued pursuant to this rule.
(6) A
license issued pursuant to this section shall be valid for the time period that
is specified in the Act.
(7) A
license issued pursuant to this section shall not be renewed automatically, and
shall be renewed only if the licensee satisfies all requirements for the
issuance and renewal of a license pursuant to the 1999 Public Accountancy Act,
including Section 61-28B-9 NMSA 1978 and Subsection I of 16.60.3.9 NMAC.
(8) As
a courtesy, the board, will send via electronic mail license renewal
notifications to licensees or registrants before the license expiration date to
the last known email address on file with the board. Failure to receive the
renewal notification shall not relieve the licensee or registrant of the
responsibility of timely renewal on or before the expiration date.
[16.60.3.9 NMAC - Rp 16 NMAC
60.4.8.2 & 16 NMAC 60.4.8.3, 2/14/2002; A, 1/15/2004; A, 6/15/2004; A,
12/30/2004; A, 4/29/2005; A, 7/29/2005; A, 11/30/2007; A, 6/30/2008; A,
2/27/2009; A, 1/17/2013; A, 12/1/2014;A, 9/15/2015; A, 10/1/2020; A, 12/12/2021;
A, 1/13/2026]
16.60.3.13 RECIPROCITY
REQUIREMENTS:
A. Interstate reciprocity: The board may issue a certificate/license to
the holder of a certificate issued by a state other than New Mexico as defined
under Sections 3O, 11B and D, and 26A of the act provided that the license from
the other state is valid and in good standing and that the applicant:
(1) provides
proof from a board-approved national qualifications service that their CPA
qualifications are substantially equivalent to the CPA requirements of the act;
or
(2) successfully
completed the CPA examination in accordance with the rules of the other state
at the time it granted the applicant’s initial certificate; and
(3) meets
the experience requirements under the act and these rules for issuance of the
initial certificate; and
(4) has
met the CPE requirement of the state in which he is currently licensed pursuant
to the act and board rules.
B. All
applicants for licensure by reciprocity shall have passed either the American
institute of certified public accountants ethics examination with a score of 90
percent or higher or an ethics examination of another state board of
accountancy with a score of 90 percent or higher.
C. An
applicant who holds a certificate from another state based upon passage of the
examination but who does not hold a license to practice shall not be eligible
for licensure by reciprocity.
D. The board may rely on the national
association of state boards of accountancy (NASBA), the American institute of
certified public accountants (AICPA), or other professional bodies deemed
acceptable to the board for evaluation of other state's CPA qualification
requirements in making substantial equivalency determinations.
E. International reciprocity: The board may designate a professional
accounting credential issued in a foreign country as [substantially
equivalent] a comparable licensure to a New Mexico CPA certificate
and may issue a certificate/license to the holder of a professional accounting
credential issued in a foreign country.
(1) The
board may rely on NASBA, AICPA, or other professional bodies deemed acceptable
to the board for evaluation of foreign credentials in making equivalency
determinations.
(2) The
board may satisfy itself through qualifying examination(s) that the holder of a
foreign country credential deemed by the board to be [substantially
equivalent] a comparable licensure to a CPA certificate possesses
adequate knowledge of U.S. practice standards and the board’s rules. The board will specify the qualifying
examination(s) and may rely on NASBA, AICPA, or other professional bodies to develop,
administer, and grade such qualifying examination(s).
(3) The
board recognizes the existence of the international qualifications appraisal
board (IQAB), a joint body of NASBA and AICPA, which is charged with:
(a) evaluating
the professional credentialing process of certified public accountants, or
their equivalents, from countries other than the United States; and
(b) negotiating
principles of reciprocity agreements with the appropriate professional and
governmental bodies of other countries [seeking recognition as having
requirements substantially equivalent to the requirements] where
qualified professional accountants can practice in the United States without
having to completely re-credential for the certificate of a certified
public accountant in the United States.
(4) The
board shall honor the terms of all principles of [reciprocity agreements
issued] mutual recognition agreements established by IQAB.
(5) The
board recognizes the international uniform CPA qualification examination
(IQEX), written and graded by AICPA, as a measure of professional competency
satisfactory to obtain a New Mexico certificate by reciprocity.
(6) The
board may accept a foreign country’s accounting credential in partial
satisfaction of its certificate/license requirements if:
(a) the
holder of the foreign country accounting credential meets the issuing body’s
education requirement and has passed the issuing body’s examination used to
qualify its own domestic candidates; and
(b) the
foreign country credential is valid and in good standing at the time of
application for a certificate/license.
(7) The
board shall [accept the following foreign credentials in partial
satisfaction of its certificate/license requirements] review and may
approve other jurisdiction’s mutual recognition agreements entered into by the
IQAB in partial satisfaction of its certificate or licensure requirements on a case-by-case
basis.
[(a) Canadian chartered accountant;
(b) Australian
chartered accountant;
(c) Hong
Kong institute of CPAs;
(d) Mexican
contador publicos certificado;
(e) chartered
accountants in Ireland;
(f) New
Zealand chartered accountant.]
F. An applicant for renewal of a CPA
certificate/license originally issued in reliance on a foreign country
accounting credential shall:
(1) meet
all board prescribed certificate/license renewal requirements; and
(2) present
documentation from the foreign country accounting credential issuing body that
the applicant’s foreign country credential has not been suspended or revoked
and is not the subject of a current investigation; and
(3) report
any investigations undertaken or sanctions imposed by a foreign country
credential body against the CPA’s foreign country credential.
G. If the foreign country credential
has lapsed, expired, or been cancelled, the applicant must present proof from
the foreign country credentialing body that the certificate holder/licensee was
not the subject of any disciplinary proceedings or investigations at the time
the foreign country credential lapsed.
H. Suspension or revocation of, or
refusal to renew, the CPA’s foreign accounting credential by the foreign
credentialing body shall be considered evidence of conduct reflecting adversely
upon the CPA’s fitness to retain the certificate and may be a basis for board
action.
I. Conviction of a felony or any crime
involving dishonesty or fraud under the laws of a foreign country is evidence
of conduct reflecting adversely on the CPA’s fitness to retain a
certificate/license and is a basis for board action.
J. The board shall notify the
appropriate foreign country credentialing authorities of any sanctions imposed
against a CPA. The board may participate
in joint investigations with foreign country credentialing bodies and may rely
on evidence supplied by such bodies in disciplinary hearings.
[16.60.3.13 NMAC - Rp 16 NMAC
60.4.9, 2/14/2002; A, 9/16/2002; A, 1/15/2004; A, 6/15/2004; A, 12/30/2004; A,
4/29/2005; A, 6/30/2008; A, 11/13/2009; A, 1/17/2013; A, 1/13/2026]
16.60.3.14 [SUBSTANTIAL EQUIVALENCY]
COMPARABLE LICENSURE/INTENT TO PRACTICE REQUIREMENTS:
A. Effective
July 1, 2008substantially equivalent] to New Mexico’s requirements
if the person meets the requirements of Subsection A of Section 26 of the act.
B. The
board may rely on NASBA, AICPA, or other professional bodies approved as
acceptable to the board to provide qualification appraisal in determining
whether an applicant's qualifications are [substantially equivalent] comparable
to New Mexico's licensure requirements.
C. A
person exercising the practice privilege afforded by Section 26 of the act
shall be deemed to have:
(1) submitted
to the personal and subject matter jurisdiction and disciplinary authority of
the board;
(2) agreed
to full compliance with the act and related board rules; and
(3) consented
to appointment of the state board that issued the license as agent upon whom
process may be served in an action or proceeding by the New Mexico public
accountancy board against the licensee.
D. A
person exercising the practice privilege afforded by Section 26 of the act
shall cease offering or rendering professional attest services in New Mexico in
the event the license from the state of the person’s principal place of
business is no longer valid.
E. An
individual who qualifies for practice privileges pursuant to Section 26 of the
act may offer or render professional services whether in person or by mail,
telephone, or electronic means without the need to notify the board or remit a
fee.
F. Pursuant
to the Uniform Accountancy Act, an individual entering into an engagement to
provide professional services via a web site pursuant to Section 23 shall
disclose, via any such web site, the individual’s principal state of licensure,
license number, and an address as a means for regulators and the public to
contact the individual regarding complaints, questions, or regulatory
compliance.
G. Reporting
integrity violations.
(1) Any
individual using practice privileges in New Mexico shall notify the board
within 30 days of any occurrence described in board rule Subsection B of
16.60.5.11 NMAC.
(2) Any
licensee of New Mexico using practice privileges in another state shall notify
the New Mexico board and the state board of any other state in which said
licensee uses practice privileges within 30 days of any occurrence described in
board rule Subsection B of 16.60.5.11 NMAC, which includes Subsection A of
16.60.5.14 NMAC.
[16.60.3.14 NMAC - N, 2/14/2002; A,
7/30/2004; A, 7/29/2005; A, 6/30/2008; A, 1/17/2013; A, 12/12/2021; A,
1/13/2026]
16.60.3.15 CONTINUING
PROFESSIONAL EDUCATION (CPE) REQUIRED TO OBTAIN OR MAINTAIN AN
"ACTIVE" CPA LICENSE:
A. The following requirements of
continuing professional education apply to certificate/license renewals and
reinstatements pursuant to Subsection E of Sections 9 and Subsection A of
Section 12 of the act. An applicant for
certificate/license renewal shall show completion of no less than 120 clock
hours of CPE, complying with these rules during the 36-month period ending on
the last day of the certificate/license holder's birth month.
(1) Any
applicant seeking a license/certificate or renewal of an existing license shall
demonstrate participation in a program of learning meeting the standards set
forth in the statement on standards for continuing professional education (CPE)
programs jointly approved by NASBA and AICPA or standards deemed comparable by
the board. An initial license is the
first license issued to an individual.
CPE reporting will begin on the first day following the licensee’s
initial expiration date (birth month) for license renewal. No CPE will be required for the period
between issue date and first expiration date (birth month).
(2) Each
person holding an active CPA certificate/license issued by the board shall show
completion of no less than 120 hours of continuing professional education
complying with these rules during the preceding 36-month period ending on the
last day of the certificate/license holder's birth month, with a minimum of 20
hours completed in each reporting year. For any CPE reporting period which begins on or after
January 1, 2010, continuing professional education must include a minimum of
four hours of ethics education during the 36-month period after January 1, 2010. Licensees
shall report CPE completion on board prescribed forms including a signed
statement indicating they have met the requirements for participation in the
CPE program set forth in board rules.
(3) The
board may, at its discretion, accept a sworn affidavit as evidence of
certificate/license holder compliance with CPE requirements in support of
renewal applications in lieu of documented evidence of such. Reciprocity and reinstatement applications
shall require documented evidence of compliance with CPE provisions.
(4) Deadline
for receipt of license renewal applications and supporting CPE reports or
affidavits is no later than the last day of the certificate/license holder's
birth month. Renewal applications and
supporting CPE affidavits or reports shall be postmarked or hand-delivered no
later than the renewal deadline date or the next business day if the deadline
date falls on a weekend or holiday.
(5) In
the event that renewal applicants have not completed the requisite CPE by the
renewal deadline, he may provide, prior to the license expiration date,
a written explanation for failure to complete CPE and may submit a written
request for an extension for completion of the required CPE [prior to
license expiration date] or may request a hardship exception pursuant to
16.60.3.15 (D) NMAC.
(a) The
approval of an extension request is not automatic. The board has the discretion to grant or deny
a request.
(b) The
request for extension shall include documentation of the extenuating
circumstances that prevented him from completing the CPE. A written plan of action to remediate the
deficiency must accompany the renewal application and extension request.
(c) If
a request for extension is received in the board office after the expiration
date of the license, the license shall be renewed, and the file shall be
referred to the board for possible disciplinary action.
(d) An
extension up to [60] 180 days beyond the expiration date of the
license may be granted by board staff; extenuating circumstances beyond the
control of the licensee necessitating an extension beyond [60] 180
days requires the approval of the board.
(e) The
board may waive a fine for good cause or require community service acceptable
to the board.
(f) If
all CPE requirements are not met by the expiration date of the license or
granted extension date, the license [shall] may be subject to
disciplinary action.
(6) Renewal
applications and CPE reports received after prescribed deadlines shall include
prescribed delinquency fees.
(7) Applications
will not be considered complete without satisfactory evidence to the board that
the applicant has complied with the CPE requirements of Subsection E of
Sections 9 and Subsection A of Section 12 of the act and of these rules.
(8) Reinstatement
applicants whose certificates/licenses have lapsed shall provide documented
evidence of completion of 40 hours of CPE for each year the certificate/license
was expired, not to exceed 200 hours. If
the license was expired for longer than 36 months, at least 120 of the hours
must have been earned within the preceding 36 months. [For any post-2009
year for which the certificate/license was expired,] The continuing
professional education must include a minimum of four hours of ethics education
during the 36 months preceding reinstatement.
(a) The
length of expiration shall be calculated from the date the license expired to
the date the application for reinstatement was received by the board office.
(b) If
the license was expired for less than one year, documented evidence of 40 hours
of CPE earned within the 12 months immediately preceding the date of
application for reinstatement must be provided.
(c) If
the license was expired for longer than one year, for the purpose of
determining the number of CPE hours required, the length of expiration shall be
rounded down to the last full year if the partial year was less than six months
and rounded up to the next full year if the partial year was more than six
months.
B. Exemption from CPE requirements
through change of certificate/license status between inactive/retired and
active status.
(1) Licensees
granted an exception by the board must place the word “inactive” adjacent to
their CPA title on any business card letterhead, or any other document or
device, with the exception of their CPA certificate, on which their CPA title
appears. Licensees granted the exception
who are at least 55 years of age may replace “inactive’ with “retired”. Any of these terms must not be applied in
such a manner that could likely confuse the public as to the current status of
the licensee.
(2) Licensees
granted the use of “inactive” or “retired” may volunteer their time to
nonprofit or governmental organizations, to the extent provided in the
statute. Licensees may not be
compensated for such volunteer work other than through reimbursement of actual
expenses.
(3) Licensees
have the responsibility to maintain professional competence relative to the
volunteer services they provide even though exempt from specific CPE
requirements of 16.60.3.15 NMAC.
C. Persons
requesting to change from "inactive" or "retired" to
"active" certificate/license status shall:
(1) complete
board-prescribed change-of-status forms and remit related fees; and
(2) provide
documented evidence of 40 hours of CPE for each year the certificate/license
was inactive, not to exceed 200 hours; if the license was inactive for longer
than 36 months, at least 120 of the hours must have been earned within the
preceding 36 months. [For any
post-2009 year for which the certificate/license was inactive,] The
continuing professional education must include a minimum of four hours of
ethics education during the 36 months preceding application for change of
status to “active”.
(3) If
an individual has not held an active license within five years preceding the
date of the application for “change of status”, the approval of the board will
be required.
D. Hardship
exceptions: The board may make
exceptions to CPE requirements for reason of individual hardship including
health, military service, foreign country residence, or other good cause resulting
in the licensee temporarily leaving the workforce. Requests for such exceptions shall be subject
to board approval and presented in writing to the board. Requests shall include such supporting
information and documentation as the board deems necessary to substantiate and
evaluate the basis of the exception request. Hardship exceptions will be
approved on a year-by-year basis. If a hardship exception is granted, the licensee is required to notify the board in writing when
the circumstance creating the hardship no longer exists and fulfill CPE
requirements from that date forward. If the circumstances creating the hardship
last longer than one year the licensee is required to
request another exception, which will be subject to board approval.
E. Programs
qualifying for CPE credit: A program
qualifies as acceptable CPE for purposes of Subsection E of Sections 9 and
Subsection A of Section 12 of the act and these rules if it is a learning
program contributing to growth in professional knowledge and competence of a
licensee. The program must meet the
minimum standards of quality of development, presentation, measurement, and
reporting of credits set forth in the statement on standards for continuing
professional education programs jointly approved by NASBA and AICPA, by
accounting societies recognized by the board, or such other standards deemed
acceptable to the board.
(1) The
following standards will be used to measure the hours of credit to be given for
acceptable CPE programs completed by individual applicants:
(a) an
hour is considered to be a 50-minute period of instruction;
(b) a
full one day program will be considered to equal eight hours;
(c) only
class hours or the equivalent (and not student hours devoted to preparation)
will be counted;
(d) one-half
credit increments are permitted after the first credit has been earned in a
given learning activity;
(e) Nano-learning
– The credit to be earned for a single nano-learning program is one
fifth-credit. Only a total of eight CPE
credit hours can be reported in a three year reporting cycle using
nano-learning credits.
(f) For
blended learning programs included in rule 16.60.3.15, the CPE credit must
equal the sum of the CPE credit determination for the various completed
components of the program.
(g) [for
reporting periods on or after January 1, 2010, acceptable] Acceptable
ethics topics may include, but are not limited to, instruction focusing on the
AICPA code of professional conduct, the New Mexico occupational and
professional licensing code of professional conduct applicable to certified
public accountants, Treasury Circular 230, malpractice avoidance, organization
ethics, integrity, and the duties of the CPA to the public, clients, and
colleagues; ethics hours may be earned as part of any professional development
program otherwise qualifying under this rule, provided the ethics content and
the time devoted to such content are separately identifiable on the program
agenda.
(2) Service
as a lecturer, discussion leader, or speaker at continuing education programs
or as a university professor/instructor (graduate or undergraduate levels) will
be counted to the extent that it contributes to the applicant’s professional
competence in accountancy.
(3) Credit
as a lecturer, discussion leader, speaker, or university professor/instructor
may be allowed for any meeting or session provided that the session would meet
the continuing education requirements of those attending.
(4) Credit
allowed as a lecturer, discussion leader, speaker or university
professor/instructor will be on the basis of one hour of preparation and one
hour for each hour of presentation.
Credit for subject preparation may only be claimed once for the same
presentation.
(5) Authors
of published articles, books and other publications may receive credit for
their research and writing time to the extent it maintains or improves their
accountancy professional competence. For
the author to receive CPE credit the article, book or CPE program must be
formally reviewed by an independent subject matter expert or reviewed and
approved by the board. Not more than
fifty percent of the total CPE credits required for the CPE reporting period
can be claimed for author CPE credit.
The board will determine the amount of credit awarded.
(6) Credit
allowed under provisions for a lecturer, discussion leader, speaker at
continuing education programs, or university professor/instructor or credit for
published articles and books may not exceed one half of an individual’s CPE
requirement for a three year reporting period (shall not exceed 60 hours of CPE
credit during a 3-year reporting period).
(7) For
a continuing education program to qualify under this rule, the following
standards must be met:
(a) an
outline of the program is prepared in advance and preserved;
(b) the
program is at least one hour in length;
(c) a
qualified instructor conducts the program; and
(d) a
record of registration or attendance is maintained.
(8) The
following programs are deemed to qualify, provided the above are met:
(a) professional
development programs of recognized national and state accounting organizations;
(b) technical
sessions at meetings of recognized national and state accounting organizations
and their chapters; and
(c) no
more than four hours CPE annually may be earned for board meeting attendance.
(9) University
or college graduate-level courses taken for academic credit are accepted. Excluded are those courses used to qualify
for taking the CPA exam. Each semester
hour of credit shall equal 15 hours toward the requirement. A quarter hour credit shall equal 10 hours.
(10) Non-credit
short courses - each class hour shall equal one hour toward the requirement and
may include the following:
(a) formal,
organized in-firm educational programs;
(b) programs
of other accounting, industrial, and professional organizations recognized by
the board in subject areas acceptable to the board;
(c) formal
correspondence or other individual study programs which require registration
and provide evidence of satisfactory completion will qualify with the amount of
credit to be determined by the board.
(11) The
board may look to recognized state or national accounting organizations for
assistance in interpreting the acceptability of the credit to be allowed for
individual courses. The board will
accept programs meeting the standards set forth in the NASBA CPE registry,
AICPA guidelines, NASBA quality assurance service, or such other programs
deemed acceptable to the board.
(12) For
each three year reporting period, at least 96 of the hours reported shall be
courses, programs or seminars whose content is in technical fields of
study. Technical fields of study are
technical subjects that contribute to the maintenance and improvement of the
competence of a CPA in the profession of accountancy and that directly relate
to the CPA’s field of business.
Definitions of technical fields of study and non-technical fields of
study can be found in section 16.60.1.17 NMAC.
(13) Effective for CPE reporting
periods ending on or after July 31, 2007, for each three year reporting period,
at least 24 of the hours reported shall not include CPE sponsored by the
licensee’s firm, agency, company, or organization but may include all methods
of CPE delivery, provided that each hour meets the standards specified in
paragraphs (1) through (10) of this Subsection.
(14) For
each three year reporting period, credit will be allowed once for any single
course, program or seminar unless the individual can demonstrate that the
content of such course, program or seminar was subject to substantive technical
changes during the reporting period.
F. Programs
not qualifying for CPE:
(1) CPA
examination review or “cram” courses;
(2) industrial
development, community enhancement, political study groups or similar courses,
programs or seminars;
(3) courses,
programs or seminars that are generally for the purpose of learning a foreign
language;
(4) partner,
shareholder or member meetings, business meetings, committee service, and
social functions unless they are structured as formal programs of learning
adhering to the standards prescribed in this rule.
G. Continuing
professional education records requirements:
When applications to the board require evidence of CPE, the applicants
shall maintain such records necessary to demonstrate evidence of compliance
with requirements of this rule.
(1) Reinstatement
and reciprocity applicants shall file with their applications a signed report
form and statement of the CPE credit claimed.
For each course claimed, the report shall show the sponsoring
organization, location of program, title of program or description of content,
the dates attended, and the hours claimed.
(2) Responsibility
for documenting program acceptability and validity of credits rests with the
licensee and CPE sponsor. Such
documentation should be retained for a period of five years after program
completion and at minimum shall consist of the following:
(a) copy
of the outline prepared by the course sponsor along with the information
required for a program to qualify as acceptable CPE as specified in this rule;
or
(b) for
courses taken for scholastic credit in accredited universities and colleges, a
transcript reflecting completion of the course.
For non-credit courses taken, a statement of the hours of attendance, signed by the instructor,
is required.
(3) Institutional
documentation of completion is required for formal, individual
self-study/correspondence programs.
(4) The
board may verify CPE reporting information from applicants at its
discretion. Certificate
holders/licensees or prospective certificate holders/licensees are required to
provide supporting documentation or access to such records and documentation as
necessary to substantiate validity of CPE hours claimed. Certificate holders/licensees are required to
maintain documentation to support CPE hours claimed for a period of five years
after course completion/CPE reporting.
Should the board exercise its discretion to accept an affidavit in lieu
of a CPE report, the board shall audit certificate/license holder CPE rules
compliance of no less than 10 percent of active CPA/RPA licensees annually.
(5) In
cases where the board determines requirements have not been met, the board may
grant an additional period of time in which CPE compliance deficiencies may be
removed. Fraudulent reporting is a basis
for disciplinary action.
(6) An
individual who has submitted records of completion, or a sworn affidavit on
their renewal application as evidence of compliance with CPE requirements and
is found, as the result of a random audit, not to be in compliance will be
subject to a minimum $250.00 fine and any other penalties deemed appropriate by
the board as permitted by Subsection B of Section 20 of the act.
(7) The
sponsor of a continuing education program is required to maintain an outline of
the program and attendance/registration records for a period of five years
after program completion.
(8) Licensees
reporting of CPE must document their participation and retain evidence for a
period of five years after course completion. Documentation and/or evidence
must include, at minimum:
(a) sponsor
name and identification number;
(b) title
and description of content;
(c) date(s)
of completion;
(d) location;
(e) number
of credit hours; and
(f) name
of the registered licensee who completed the course.
(9) The
board may, at its discretion, examine certificate holder/licensee or CPE
sponsor documentation to evaluate program compliance with board rules. Non-compliance with established standards may
result in denial of CPE credit for non-compliant programs and may be a basis
for disciplinary action by the board for fraudulent documentation and
representation by a CPE sponsor or certificate holder/licensee of a knowingly
non-compliant CPE program.
[16.60.3.15 NMAC - Rp 16 NMAC
60.6.6, 2/14/2002; A, 9/16/2002; A, 6/15/2004; A, 7/30/2004; A, 12/30/2004; A,
4/29/2005; A, 12/30/2005; A, 5/15/2006; A, 7/29/2007; A, 2/27/2009; A,
9/15/2010; A, 1/17/2013; A, 12/01/2014; A, 9/15/2015; A, 3/3/2017; A, 10/1/2020;
A, 12/12/2021; A, 1/13/2026]