Frequently Asked Questions

How long does the licensure approval process take?

Each application for initial licensure and each application for reinstatement of an expired license must be presented to the Public Accountancy Board for review and approval during a regularly scheduled Board meeting. Meetings are held six times per year. In order to ensure that your file may be presented to the Board at its next meeting, all required documents must reach the Board office at least two weeks prior to the scheduled meeting. A schedule of Board meetings may be found on the News and Information page.

Is there a background check requirement?

A fingerprint background check is required for both initial licensure and reinstatement of a cancelled New Mexico CPA certificate. Please contact Martinik Gonzales, Licensing Administrator, at the Board office to obtain the fingerprint cards and other required forms. See this document for more information: Description of Criminal History Background Check Program. E-mail Martinik.Gonzales for fingerprint cards.

What are the different routes to licensure?

A New Mexico CPA Certificate may be obtained in one of three ways:

  • By Examination - This refers to an individual who sits for and passes the Uniform CPA Examination as a registered and qualified New Mexico candidate. The individual must have completed 150 semester hours of college credit to be eligible for licensure.
  • By Grade Transfer - This refers to an individual who sits for and passes the Uniform CPA Examination in another state, but who has not become licensed in another state. This individual must demonstrate New Mexico residency.
  • By Reciprocity - This refers to an individual who holds a valid CPA license in another state.

If I am licensed in another state and intend to practice in New Mexico, am I required to obtain a New Mexico certificate and license?
Under New Mexico’s mobility provision, if your principal place of business is NOT in New Mexico, and if you have a valid CPA license from another state, you may render professional services in New Mexico without the need to obtain a New Mexico certificate and license, provided you have passed the Uniform CPA Examination and have at least one year of experience. If your principal place of business IS in New Mexico, and if you have a valid license from another state, you must apply for a certificate and license in New Mexico by reciprocity.

Approximately 38 other states have adopted mobility legislation to allow individuals licensed in one state to practice in other states.  For information regarding which states currently have mobility provisions, please visit the National Association of State Boards of Accountancy website at:  www.nasbatools.com/mobility/index.

Is a New Mexico firm permit required if I wish to practice under the mobility provision?
A New Mexico firm permit is required if the firm does not have an office in New Mexico but performs audit services for a client who principal place of business is in New Mexico. A firm without an office in New Mexico may perform non-audit services for a New Mexico client without the need for a firm permit, provided such services are rendered by a person with practice privileges under the mobility provision described above.

Is there a residency requirement for licensure?
If you passed the Uniform CPA Exam as a New Mexico candidate, there is no residency requirement for licensure. You may reside outside the state and apply for a New Mexico license by examination.

Individuals seeking initial licensure by grade transfer are subject to a residency requirement. If you passed the Uniform CPA Exam in another state and now wish to have your scores transferred to New Mexico for the purpose of licensure, you will be required to provide proof of New Mexico residency or intended residency.

Acceptable documentation of residency includes one of the following:

  • A physical, verifiable New Mexico address
  • A New Mexico driver's license
  • A New Mexico voter registration card
  • A signed job offer in New Mexico
  • A mortgage or lease agreement in your name on a residence in New Mexico
  • Notarized statements from three New Mexico residents with physical addresses attesting to your residence in the state.

Licensure by Reciprocity does not require New Mexico residence.

Am I required to pass an ethics examination as a prerequisite for licensure?
Individuals applying for licensure by examination or grade transfer must pass the American Institute of Certified Public Accountants (AICPA) Ethics Examination with a grade of 90% or higher. This self-study course must be completed within one year from the date of purchase. Please ensure that you designate the New Mexico Public Accountancy Board as a score recipient when registering for the examination, as we must receive a score report directly from the AICPA. Do not mail your answer sheet to the Accountancy Board!

To obtain registration materials, please call the New Mexico CPA Society at (505) 246-1699. Click here to register online using Mastercard or Visa.

If I have passed the Uniform CPA Examination in another state, am applying for licensure by grade transfer, and my education was completed outside of the United States, how should I submit my transcripts to the Accountancy Board?
Individuals who completed their higher education outside of the United States must submit their academic credentials for analysis to a foreign transcript evaluation agency that is a member of the National Association of Credential Evaluation Services.

If my experience is gained outside of the United States, what credentials must my supervisor possess?
Your supervisor must be a licensed Certified Public Accountant, either in New Mexico or in one of the other 53 jurisdictions governed by the National Association of State Boards of Accountancy (NASBA). That person must have been licensed at the time he or she supervised you. Be advised that supervision by a Chartered Accountant in another country will not suffice.

Once my license is issued, when will it expire?
An initial license will be issued effective the date of approval by the Board and it will expire on the last day of your birth month. This means that your first license may be valid for as little as one month or as long as 12 months from the date that it is initially issued. Thereafter, the license will be valid for one year and will expire on the last day of your birth month.

When must I apply for renewal of my License?
Your renewal application and $130 renewal fee are due in the Board office by the last day of your birth month. A renewal application will be mailed to you approximately six weeks prior to the expiration date.

Individuals who do not submit renewal materials by the stated deadline will receive one reminder notice. If again you fail to submit your renewal materials, the license will be cancelled.

When does my continuing professional education reporting cycle begin?
Public Accountancy Board rules mandate a minimum of 120 hours of continuing professional education (CPE) on a rolling three-year cycle. This cycle beings with the first day of the month after your birth month and ends on the last day of your birth month. You are exempt from continuing professional education during your first licensure cycle.

For example, if you were born in November and your license was issued in April 2005, you would be exempt from CPE requirements from the time that your license was issued in April until the first day of December. Your CPE cycle would begin December 1, 2005, and would end November 30, 2008. During this time, you must earn 120 hours of CPE. Your next cycle would be December 1, 2006 to November 30, 2009. You would be required to earn 120 hours of CPE during this cycle, and so on.

Bear in mind that during any given three-year cycle, at least 96 of the 120 hours must be technical in nature; at least 24 hours must be sponsored by an entity other than your firm, agency, or organization; and at least 20 hours must be earned during any one-year period (birth month to birth month). Following is a list of non-technical and technical subjects.

Non-Technical Technical
Business Management and Organization
Communications
Employee Management
Firm Management
Marketing
Personnel/Human Resources
Personal Development
Social Environment of Business
Accounting
Accounting – Governmental
Administrative Practice
Auditing
Auditing - Governmental
Business Law
Business Valuation
Computer Courses
Computer Science
Economics
Estate Planning
Ethics (behavioral & regulatory)
Finance
Fraud Examination
Litigation
Management Advisory Services
Mathematics
Production
Specialized Knowledge and Applications
Statistics
Taxes

Click here for a description of the CPE field of study areas

How do I report my continuing professional education credits?
When you receive your renewal application, you will be asked to sign an affidavit that you have complied with the Board's CPE requirements. You will also be required to complete the CPE Report Form on the reverse side of your renewal application. It is incumbent upon you to maintain a record of your CPE hours and documentation of course completion in the event that you are selected for a random audit. Approximately 15% of individuals renewing licenses each month will be randomly selected for a CPE audit.

How do I determine which courses are acceptable for continuing professional education credit?
The Board does not evaluate specific courses or programs in advance of them being completed to determine eligibility for CPE credit. Board Rule 16.60.3 NMAC, Section 15, describes acceptable CPE programs. Any course offered by a provider registered with either the National Association of State Boards of Accountancy (NASBA) or the American Institute of Certified Public Accountants (AICPA) will be accepted. If a course is not approved by either NASBA or the AICPA, the Joint Statement on Standards for Continuing Professional Education Programs should be consulted to determine whether the course is acceptable for CPE credit.

Nationwide listing of NASBA/AICPA-approved CPE courses

Statement on Standards for Continuing Professional Education (CPE) Programs