New Mexico Administrative Code › Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING › Chapter 60 - PUBLIC ACCOUNTANTS › Part 3 - LICENSURE AND CONTINUING PROFESSIONAL EDUCATION REQUIREMENTS › Section 16.60.3.15 - CONTINUING PROFESSIONAL EDUCATION (CPE) REQUIRED TO OBTAIN OR MAINTAIN AN "ACTIVE" CPA LICENSE

Current through Register Vol. 35, No. 13, July 16, 2024
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 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.
(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 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 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
				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.