NY Educ L § 7406 (2021)
2021 New York Laws EDN - Education Title 8 - The Professions Article 149 - Public Accountancy 7406 - Limited Permits and Practice Privilege.

§ 7406. Limited permits and practice privilege. 1. Limited permits. On recommendation  of  the board, the department may issue a limited permit to an applicant of  good  moral  character,  who  is  the  holder  of  a certificate,  license  or  degree  in  a  foreign country constituting a recognized qualification for the performance in such country of the acts set forth in section seventy-four hundred one of this article,  provided the applicant has professional qualifications that are determined by the board  to  be significantly comparable to the licensure requirements for certified public accountancy pursuant to this article, and the applicant resides or has a place for the regular transaction  of  business  within the  state,  and  equal  recognition  is  granted by the foreign country concerned to certified public accountants or public accountants licensed in the United States. Such limited permit shall be valid for a period of two years and may be renewed on recommendation of the board. Such permit shall authorize the applicant to use only the title or designation under which he or she is generally known in his or her own  country,  followed by  the  name  of  the  country from which he or she received his or her certificate,  license  or  degree,  notwithstanding  the  provisions  of subdivision  two  of section seventy-four hundred eight of this article. The fee for each limited permit and each renewal shall be established in regulation by the board of regents.   2. Practice privilege. a. Except as otherwise provided in subparagraph two or three of paragraph f of  this  subdivision,  a  certified  public accountant,  licensed  by  another  state which the board of regents has determined to have substantially equivalent certified public  accountant licensure requirements, or whose individual licensure qualifications are verified  by the department to be substantially equivalent to New York's requirements, and in good standing, who intends to perform  any  of  the services  in  subdivision  one,  two  or  three  of section seventy-four hundred one of this article may  practice  public  accountancy  in  this state, if the certified public accountant:  (1)  holds a valid license to practice public accountancy in the other state, and  (2) practices public accountancy in another state that is his  or  her principal place of business.   b. The practice privilege allows such certified public accountant, who meets  the  requirements  of paragraph a of this subdivision to practice public accountancy in this state.   c. An individual who has been granted practice privileges  under  this section  who  performs  any of the services in subdivision one or two of section seventy-four hundred one of this article may only do so  through a  firm  which  has  obtained  a registration under section seventy-four hundred eight of this  article.  Such  an  individual,  as  well  as  an individual  with  a New York license who does not have a principal place of business in New York, may provide services in  subdivision  three  of section  seventy-four  hundred  one  of  this  article through a firm of certified public accountants that does not have a registration  in  this state but that holds a valid license, registration, or permit in another state.   d.  Any  certified  public  accountant  who  practices  in  this state pursuant to this section, and  any  firm  that  employs  such  certified public  accountant to provide such services in New York, consents to all of the following as  a  condition  of  the  exercise  of  such  practice privilege:  (1)  to  the personal and subject matter jurisdiction and disciplinary authority of the board of regents as if  the  practice  privilege  is  a license, and an individual with a practice privilege is a licensee;  (2) to comply with this article, the rules of the board of regents and the regulations of the commissioner; and  (3)  to  the  appointment  of  the  secretary of state or other public official  acceptable  to  the  department,  in  the   certified   public accountant's  state  of licensure or the state in which the firm has its principal place of business,  as  the  certified  public  accountant  or firm's agent upon whom process may be served in any action or proceeding by the department against such certified public accountant or firm.   e.  For  purposes  of  this  subdivision,  the  board  of  regents may determine  that  nationally-recognized   certified   public   accountant licensure  requirements  are  substantially  equivalent  to  New  York's requirements, such that an individual licensed in a state determined  to have    licensure   requirements   substantially   equivalent   to   the nationally-recognized CPA licensure requirements, or an individual whose licensure qualifications are determined to be  substantially  equivalent to  the  nationally-recognized  CPA licensure requirements, may practice under the practice privilege pursuant to the requirements  contained  in this subdivision.   f.  (1)  A  person  who  wishes to practice public accountancy in this state but does  not  meet  the  requirements  of  paragraph  a  of  this subdivision   is   subject   to  the  full  licensing  and  registration requirements of this article.  (2) In the event the license from the other  state  of  the  certified public accountant's principal place of business is no longer valid or in good standing, or that the certified public accountant has had any final disciplinary  action taken by the licensing or disciplinary authority of any other state concerning the practice of public accountancy  that  has resulted  in  (i) the suspension or revocation of his or her license, or (ii) other disciplinary action against his or her  license  that  arises from  (a)  gross  negligence,  recklessness  or  intentional  wrongdoing relating  to  the  practice  of  public  accountancy,   (b)   fraud   or misappropriation   of   funds   relating   to  the  practice  of  public accountancy, or (c) preparation, publication, or dissemination of false, fraudulent, or materially incomplete or misleading financial statements, reports or information relating to the practice of  public  accountancy, the  certified  public  accountant  shall  cease  offering to perform or performing such services in this state individually and on behalf of his or her firm, until and unless such certified public accountant  receives written  permission from the department to resume the practice of public accountancy in  this  state  pursuant  to  subparagraph  three  of  this paragraph.  (3)  Any certified public accountant who, within the last seven years, immediately preceding the date on which he or she wishes to practice  in New  York,  (i)  has  been  the subject of any final disciplinary action taken against him or her by the licensing or disciplinary  authority  of any  other  jurisdiction with respect to any professional license or has any charges of professional misconduct pending against him or her in any other jurisdiction, or (ii) has  had  his  or  her  license  in  another jurisdiction  reinstated  after  a  suspension  or  revocation  of  said license, or (iii) has been denied issuance or renewal of a  professional license  or  certificate  in any other jurisdiction for any reason other than an inadvertent administrative error, or (iv) has been convicted  of a  crime  or is subject to pending criminal charges in any jurisdiction, shall so notify the department, on a form prescribed by the  department, and  shall not practice public accountancy in this state under paragraph a of this subdivision until he or she has received from  the  department written permission to do so. In determining whether the certified public accountant  shall  be  allowed to practice in this state, the department  shall follow  the  procedure  to  determine  whether  an  applicant  for licensure  is  of  good  moral  character. Anyone failing to provide the notice required by this paragraph shall be subject to the  personal  and subject  matter  jurisdiction and disciplinary authority of the board of regents as if the practice privilege is a  license,  and  an  individual with  a  practice  privilege  is  a  licensee,  and  may be deemed to be practicing in violation of section sixty-five  hundred  twelve  of  this title.   g.  (1)  Notwithstanding  subparagraph  two  of  paragraph  a  of this subdivision or any other inconsistent law or rule  to  the  contrary,  a certified  public  accountant  licensed  by  another  state  and in good standing who otherwise meets the practice privilege  requirements  under this  section  and  files  an  application  for  licensure under section seventy-four hundred four of this article may continue to practice under such privilege for a period coterminous with the period during which his or her application for licensure remains pending  with  the  department, including any period after the certified public accountant establishes a principal  place of business in New York while his or her application is pending.  (2) Nothing in this section shall limit the applicability  of  section seventy-four hundred seven of this article.