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 voted at its February 15 Board meeting to remove the prohibition on CPAs using laudatory testimonials in advertising. For example, a CPA firm can now post statements from clients noting their satisfaction with the firm’s services.
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.
The Board voted to extend the date to June 30, 2018, for those CPA candidates who are scheduled to lose parts of their CPA exam at the end of Q2, Q3 and Q4 of the 2017 testing periods. The decision comes after the Board previously granted an extension to December 30, 2017. Delays in the release of the exam results occurred in Q2, Q3 and Q4 of 2017 stemming from changes in the exam last April. Normally, scores are released four times per testing timeframe, and credit for any test section passed is valid for 18 months from the date the applicant takes the test section.
The Board eliminated the requirement for CPAs engaged in public accounting who are seeking reciprocity to have completed at least six months in their home state during the prior five years.
Per New Jersey statute NJSA 45:1-7.5a.(1), the Board clarified that a CPA seeking reciprocity must be from a state where the licensure requirements at the time of licensure are substantially equivalent to the requirements in New Jersey now. For individuals who do not meet that criteria, the Board will look at the applicant’s experience, CPE history, etc., and make decisions on a case-by-case basis.
The Board discussed a memo by the NJCPA that proposed eliminating or simplifying the form that must be filed by CPAs seeking CPE credit for teaching. The Board will look into what other states are doing in this area and discuss at a future meeting.
The Board stated that the form on their website— Instructions For Candidates Seeking Certification By Endorsement— will be updated to reflect that all states are now substantially equivalent with New Jersey. Currently, the form incorrectly states that 14 states are not equivalent.
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