Senate Bill No. 512–Committee on Commerce and Labor
CHAPTER..........
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. Chapter 628 of NRS is hereby amended by adding thereto a
new section to read as follows:
1. Before a certified public accountant or registered public
accountant or a partnership, corporation or limited-liability company
composed of certified public accountants or registered public
accountants engages in the practice of public accounting in this state
under a fictitious name, it must register the fictitious name with the
board.
2. The board shall adopt regulations to carry out the provisions of
this section, including, without limitation, regulations that prescribe:
(a) The procedure for registering a fictitious name with the board;
and
(b) The fee for registering a fictitious name with the board.
Sec. 2. NRS 628.280 is hereby amended to read as follows:
628.280 1. The board shall charge each candidate for a certificate of
certified public accountant a fee to be determined by the board by
regulation for [the] :
(a) The initial examination prescribed by the board pursuant to
NRS 628.190[.
2. Fees for reexaminations under NRS 628.190 must also be charged
by the board in amounts determined by it by regulation] or for each
section of the examination in which the candidate is reexamined[.
3.] ; and
(b) The review and inspection of his examination paper.
2. The applicable [fee] fees must be paid by the candidate at the time
he applies for examination or reexamination.
[4.] 3. The board shall charge [each candidate for a certificate of
certified public accountant] a fee to be determined by the board by
regulation for [review and inspection of his examination paper.]
administering the examination prescribed by the board pursuant to NRS
628.190 to a person who is a candidate for a certificate as a certified
public accountant in another state or jurisdiction of the United States
and requests that the board administer the examination to him in this
state.
Sec. 3. NRS 628.310 is hereby amended to read as follows:
628.310 1. The board may waive the examination, the requirements
for education or the requirements for experience, or any combination
thereof, required under NRS 628.190, and may issue a certificate as a
certified public accountant to any person who is the holder of a certificate
as a certified public accountant then in effect issued under the laws of any
state or other jurisdiction of the United States approved by the board,
constituting a recognized qualification for the practice of public
accounting comparable to that of a certified public accountant of this state,
if:
(a) The person has passed an examination that is substantially the same
as the examination conducted pursuant to NRS 628.230 with a grade that
would have been a passing grade in this state on the date on which he
received his original certificate;
(b) The person has experience in the practice of public accountancy,
either as a certified public accountant or as a staff accountant employed by
or under the direct supervision of a person who is a certified public
accountant, while holding a certificate as a certified public accountant for
more than 4 of the 10 years immediately preceding his making application
pursuant to this chapter; and
(c) The requirements for education of the state or other jurisdiction from
which the person received his original certificate [were substantially
equivalent to] are determined by the board to satisfy the requirements for
education of this state . [on the date on which the person received his
original certificate.]
2. The board may waive the examination, the requirements for
education or the requirements for experience, or any combination thereof,
under NRS 628.190, and may issue a certificate as a certified public
accountant to any person who is the holder of an equivalent certificate
then in effect issued by a foreign country if:
(a) Persons who are certified as public accountants in this state are
granted similar privileges by the foreign country in which the applicant is
certified;
(b) The applicant’s certificate:
(1) Was issued by the appropriate authority that regulates the practice
of public accountancy in the foreign country in which the certificate was
issued;
(2) Has not expired or been revoked or suspended; and
(3) Authorizes the applicant to issue reports upon financial
statements;
(c) The requirements for education and examination of the regulatory
authority of the foreign country were substantially equivalent to the
requirements for education and examination of this state on the date on
which the applicant received his certificate;
(d) The applicant:
(1) Complied with requirements for experience in the foreign country
in which the certificate was issued that are substantially equivalent to the
requirements set forth in NRS 628.200; or
(2) Has completed in this state at least 4 years of public accounting
experience, or equivalent experience determined to be appropriate by the
board, within the 10 years immediately preceding his making application
for certification in this state;
(e) The applicant has passed a written examination on national
standards for public accounting and ethics that is acceptable to the board;
and
(f) The applicant submits with his application a list of all jurisdictions in
which he has applied for and received a certificate to practice public
accounting.
3. A person who is granted a certificate as a certified public accountant
pursuant to subsection 2 shall notify the board, in writing, within 30 days
after:
(a) He is issued an equivalent certificate to practice public accounting
by another jurisdiction or is denied the issuance of such a certificate;
(b) A certificate to practice public accounting issued to him by another
jurisdiction is revoked or suspended; or
(c) Another jurisdiction in which he is certified to practice public
accounting commences any type of disciplinary action against him.
Sec. 4. NRS 628.380 is hereby amended to read as follows:
628.380 1. Permits to engage in the practice of public accounting in
this state must be issued by the board to holders of the certificate of
certified public accountant issued under NRS 628.190 to 628.310,
inclusive, and to registered public accountants registered or licensed
pursuant to NRS 628.350, if all offices of the [certificate] holder of a
certificate or registrant are maintained and registered as required under
NRS 628.370, and if the [certificate] holder of a certificate or registrant
has complied with the continuing education requirements provided in this
chapter and in the board’s regulations.
2. All permits expire on December 31 of each year and may be
renewed annually for a period of 1 year by [certificate] holders of
certificates and registrants in good standing upon payment of an annual
renewal fee set by the board by regulation.
3. Failure of a [certificate] holder of a certificate or registrant to apply
for an annual permit to practice deprives him of the right to a permit,
unless the board, in its discretion, determines that the failure was caused
by excusable neglect.
4. The board shall adopt a regulation specifying the fee for [issuance
or] the renewal of a permit [more than 1 year after the expiration of a
previous permit or granting of a certificate or registration.] after January
31 of each year.
5. The board may provide by regulation for the placing of certificates
and registrations [in] on a retired or inactive status. The regulation may
provide for a procedure for applying for retired or inactive status and for
applying to return to active status, and must specify fees, if any, to
accompany the applications.
Sec. 5. NRS 628.390 is hereby amended to read as follows:
628.390 1. After giving notice and conducting a hearing, the board
may revoke, or may suspend for a period of not more than 5 years, any
certificate issued under NRS 628.190 to 628.310, inclusive, any
registration or license granted to a registered public accountant under NRS
628.350, or any registration of a partnership, corporation, limited-liability
company or office, or may revoke, suspend or refuse to renew any permit
issued under NRS 628.380, or may censure the holder of any permit, for
any one or any combination of the following causes:
(a) Fraud or deceit in obtaining a certificate , as certified public
accountant, or in obtaining registration or a license as a public accountant
under this chapter, or in obtaining a permit to practice public accounting
under this chapter.
(b) Dishonesty, fraud or gross negligence by a certified or registered
public accountant in the practice of public accounting or, if not in the
practice of public accounting, of a kind which adversely affects the ability
to perform public accounting.
(c) Violation of any of the provisions of this chapter.
(d) Violation of a regulation or rule of professional conduct adopted by
the board under the authority granted by this chapter.
(e) Conviction of a felony under the laws of any state or of the United
States.
(f) Conviction of any crime, an element of which is dishonesty or fraud,
under the laws of any state or of the United States.
(g) Cancellation, revocation, suspension or refusal to renew authority to
practice as a certified public accountant or a registered public accountant
by any other state, for any cause other than failure to pay an annual
registration fee or to comply with requirements for continuing education
or review of his practice in the other state.
(h) Suspension or revocation of the right to practice before any state or
federal agency.
(i) Unless the person has been placed on inactive or retired status,
failure to obtain an annual permit under NRS 628.380, within:
(1) [One year] Sixty days after the expiration date of the permit to
practice last obtained or renewed by the [certificate] holder of a certificate
or registrant; or
(2) [One year] Sixty days after the date upon which the [certificate]
holder of a certificate or registrant was granted his certificate or
registration, if no permit was ever issued to him, unless the failure has
been excused by the board.
(j) Conduct discreditable to the profession of public accounting or
which reflects adversely upon the fitness of the person to engage in the
practice of public accounting.
(k) Making a false or misleading statement in support of an application
for a certificate, registration or permit of another person.
2. After giving notice and conducting a hearing, the board may deny
an application to take the examination prescribed by the board pursuant
to NRS 628.190, deny a person admission to such an examination,
invalidate a grade received for such an examination or deny an
application for a certificate issued pursuant to NRS 628.190 to 628.310,
inclusive, to a person who has:
(a) Made any false or fraudulent statement, or any misleading
statement or omission relating to a material fact in an application:
(1) To take the examination prescribed by the board pursuant to
NRS 628.190; or
(2) For a certificate issued pursuant to NRS 628.190 to 628.310,
inclusive;
(b) Cheated on an examination prescribed by the board pursuant to
NRS 628.190 or any such examination taken in another state or
jurisdiction of the United States;
(c) Aided, abetted or conspired with any person in a violation of the
provisions of paragraph (a) or (b); or
(d) Committed any combination of the acts set forth in paragraphs (a),
(b) and (c).
3. In addition to other penalties prescribed by this section, the board
may impose a civil penalty of not more than $5,000 for each violation[.]
of this section. The board may recover:
(a) Attorney’s fees and costs incurred [in] with respect to a hearing held
pursuant to [subsection 1] this section from a [licensee if he] person who
is found in violation [thereof; and] of any of the provisions of this section;
(b) Attorney’s fees and costs incurred in the recovery of a civil penalty
imposed [.] pursuant to this section; and
(c) Any other costs incurred by the board as a result of such a
violation.
Sec. 6. NRS 628.400 is hereby amended to read as follows:
628.400 1. After giving notice and conducting a hearing, the board
shall revoke the registration of a partnership, corporation or limited
-liability company if at any time it does not have all the qualifications
prescribed by the section of this chapter under which it qualified for
registration.
2. After giving notice and conducting a hearing, the board may revoke
or suspend the registration of a partnership, corporation or limited-liability
company, or may censure the partnership, corporation or limited-liability
company, or impose a sanction authorized by NRS 628.390, for any of the
causes enumerated in subsection 1 of NRS 628.390, or for one or both of
the following additional causes:
(a) The revocation or suspension of the certificate or registration or the
revocation or suspension or refusal to renew the permit to practice of any
partner or shareholder who is personally engaged in the practice of public
accounting in this state, whether or not he holds a live permit in this state.
(b) The cancellation, revocation, suspension or refusal to renew the
authority of the partnership, corporation or limited-liability company, or
any partner, shareholder or member thereof to practice public accounting
in any other state for any cause other than failure to pay an annual
registration fee or comply with a requirement for continuing education or
practice review in the other state.
Sec. 7. 1. Notwithstanding the provisions of section 1 of this act, a
certified public accountant or registered public accountant, or a
partnership, corporation or limited-liability company composed of
certified public accountants or registered public accountants, that is
engaged in the practice of public accounting in this state under a fictitious
name and holds a certificate of registration that was issued under the
fictitious name by the Nevada state board of accountancy pursuant to NRS
628.370 before July 1, 2001, must register the fictitious name with the
board pursuant to the
procedure prescribed by the board and pay the fee prescribed by the board
not later than January 1, 2002.
2. As used in this section:
(a) “Practice of public accounting” has the meaning ascribed to it in
NRS 628.023.
(b) “Registered public accountant” has the meaning ascribed to it in
NRS 628.029.
Sec. 8. 1. This section and sections 2 to 7, inclusive, of this act
become effective on July 1, 2001.
2. Section 1 of this act becomes effective on July 1, 2001, for the
purpose of adopting regulations and on January 1, 2002, for all other
purposes.
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