The NJCPA regularly attends the monthly meetings of the New Jersey State Board of Accountancy. Below are highlights from the meetings:
The New Jersey State Board of Accountancy formally approved the overhaul of accountancy regulations — a task it has been working on for two years — at its June 20 meeting. After final review by the Governor’s office, it is hoped that the regulations, which will replace the sunsetting regulations, will formally be adopted into law by the end of the summer. They would then be effective immediately. The regulations include nano learning and other changes important to the accounting profession.
The Board also reported that New Jersey is lagging behind its neighboring states and the United State’s average in its pass rates for CPA Exam parts taken. See the chart below.
State % Pass rate
The NJCPA Cannabis Interest Group submitted a Statement of Position (SOP) to the New Jersey State Board of Accountancy for CPAs who provide cannabis-related services. The SOP, which is similar to statements issued by other state boards of accountancy, would provide guidelines to CPAs regarding their practice in a field that is legal on a state level but not on a federal level. The Board is considering the NJCPA SOP if and when New Jersey adopts a law to legalize recreational marijuana use.
At the New Jersey Board of Accountancy’s Oct. 18 meeting, the Board counsel said the new regulations created to replace the sunsetting regulations were reviewed by the Attorney General’s office and are soon to be published in the New Jersey Register. They are then out for public comment for 60 days. After the comment period ends, it is then published in the Register as adopted regulations.
The Board voted to simplify and revise the form that CPA instructors need to fill out in order to receive CPE credit for teaching courses.
Click here to view upcoming meeting dates and access meeting minutes.
The Klarbergs | Member Story
CPE Tracker | NJCPA Member Benefit
Why Get Your CPA License?
View all events