It is the policy of this State, and the
purpose of this chapter:
1. To provide for the dependability of information which is used
for guidance in financial transactions or for accounting for and
assessing the status or performance of public and private entities; and
2. To protect the interest of the public by requiring that persons
who are engaged in the practice of public accounting be qualified, so
that the auditing, examining, reviewing and compiling of financial
statements and the issuing of reports, opinions and assurances relating
to those statements are reserved to persons who have demonstrated ability
and fitness to observe and apply the standards of the profession of
accounting.
(Added to NRS by 1981, 1379)
As used in this chapter, unless the
context otherwise requires, the words and terms defined in NRS 628.005
to 628.033 , inclusive, have the meanings ascribed to them
in those sections.
(Added to NRS by 1981, 1379)
“Attest,” “attesting” and “attestation” mean the issuance of opinions,
reports or other documents which state or imply assurance of the
reliability of any financial information when the opinions, reports or
other documents are accompanied by or contain any name, title or wording
which indicate that the person or other entity which has issued them is
an accountant or auditor, or has expert knowledge in accounting or
auditing. The terms include any disclaimer of an opinion when the
disclaimer is in a form which is understood to imply any positive
assurance of the reliability of the information and expertise on the part
of the person making the disclaimer.
(Added to NRS by 1981, 1379)
“Board” means the Nevada State Board
of Accountancy.
(Added to NRS by 1981, 1379)
“Certificate” means the
certificate issued by the Board to a person who is qualified to practice
accounting as a certified public accountant.
(Added to NRS by 1981, 1380)
“Live permit” means a permit
issued pursuant to NRS 628.380 which
has not been revoked or suspended.
(Added to NRS by 1981, 1380)
“Practice of
public accounting” means the offering to perform or the performance by a
holder of a live permit, for a client or potential client, of one or more
services involving the use of skills in accounting or auditing, one or
more services relating to advising or consulting with clients on matters
relating to management or the preparation of tax returns and the
furnishing of advice on matters relating to taxes.
(Added to NRS by 1981, 1380)
“Registered
public accountant” means a person who was registered or licensed as a
public accountant:
1. On or before May 1, 1973; or
2. After May 1, 1973, pursuant to NRS 628.190 .
(Added to NRS by 1981, 1380; A 2005, 251 )
“State” means any state, territory
or possession of the United States and the District of Columbia.
(Added to NRS by 1981, 1380; A 1999, 1695 )
Repealed. (See
chapter 501, Statutes of Nevada 2005, at page 2818 .)
[Effective until the date
of the repeal of the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and
for noncompliance with certain processes relating to paternity or child
support proceedings.]
1. In addition to any other requirements set forth in this chapter:
(a) An applicant for the issuance of a certificate issued pursuant
to NRS 628.190 to 628.310 , inclusive, any registration or license
granted to a registered public accountant pursuant to NRS 628.350 or a permit issued pursuant to NRS 628.380
shall include the social security
number of the applicant in the application submitted to the Board.
(b) An applicant for the issuance or renewal of a certificate
issued pursuant to NRS 628.190 to
628.310 , inclusive, any registration or
license granted to a registered public accountant pursuant to NRS 628.350
or a permit issued pursuant to NRS
628.380 shall submit to the Board the
statement prescribed by the Division of Welfare and Supportive Services
of the Department of Health and Human Services pursuant to NRS 425.520
. The statement must be completed and
signed by the applicant.
2. The Board shall include the statement required pursuant to
subsection 1 in:
(a) The application or any other forms that must be submitted for
the issuance or renewal of the certificate, registration, license or
permit; or
(b) A separate form prescribed by the Board.
3. A certificate, registration, license or permit described in
subsection 1 may not be issued or renewed by the Board if the applicant:
(a) Fails to submit the statement required pursuant to subsection
1; or
(b) Indicates on the statement submitted pursuant to subsection 1
that he is subject to a court order for the support of a child and is not
in compliance with the order or a plan approved by the district attorney
or other public agency enforcing the order for the repayment of the
amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant
to subsection 1 that he is subject to a court order for the support of a
child and is not in compliance with the order or a plan approved by the
district attorney or other public agency enforcing the order for the
repayment of the amount owed pursuant to the order, the Board shall
advise the applicant to contact the district attorney or other public
agency enforcing the order to determine the actions that the applicant
may take to satisfy the arrearage.
(Added to NRS by 1997, 2117; A 2005, 2712 , 2807 )
[Effective on the date of
the repeal of the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and
for noncompliance with certain processes relating to paternity or child
support proceedings and expires by limitation 2 years after that date.]
1. In addition to any other requirements set forth in this
chapter, an applicant for the issuance or renewal of a certificate issued
pursuant to NRS 628.190 to 628.310
, inclusive, any registration or license
granted to a registered public accountant pursuant to NRS 628.350 or a permit issued pursuant to NRS 628.380
shall submit to the Board the statement
prescribed by the Division of Welfare and Supportive Services of the
Department of Health and Human Services pursuant to NRS 425.520 . The statement must be completed and signed by
the applicant.
2. The Board shall include the statement required pursuant to
subsection 1 in:
(a) The application or any other forms that must be submitted for
the issuance or renewal of the certificate, registration, license or
permit; or
(b) A separate form prescribed by the Board.
3. A certificate, registration, license or permit described in
subsection 1 may not be issued or renewed by the Board if the applicant:
(a) Fails to submit the statement required pursuant to subsection
1; or
(b) Indicates on the statement submitted pursuant to subsection 1
that he is subject to a court order for the support of a child and is not
in compliance with the order or a plan approved by the district attorney
or other public agency enforcing the order for the repayment of the
amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant
to subsection 1 that he is subject to a court order for the support of a
child and is not in compliance with the order or a plan approved by the
district attorney or other public agency enforcing the order for the
repayment of the amount owed pursuant to the order, the Board shall
advise the applicant to contact the district attorney or other public
agency enforcing the order to determine the actions that the applicant
may take to satisfy the arrearage.
(Added to NRS by 1997, 2117; A 2005, 2712 , 2807 , effective on the date of the repeal of
the federal law requiring each state to establish procedures for
withholding, suspending and restricting the professional, occupational
and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child
support proceedings)
NEVADA STATE BOARD OF ACCOUNTANCY
The
Nevada State Board of Accountancy, consisting of seven members appointed
by the Governor, is hereby created.
(Added to NRS by 1960, 160; A 1971, 734; 1977, 272)
1. Except as otherwise provided in subsection 2, the Governor
shall appoint to the Board six members who are certified public
accountants in the State of Nevada and one member who is a registered
public accountant in the State of Nevada. Of the six members who are
certified public accountants:
(a) One member must be employed by the government or by private
industry; and
(b) Five members must be engaged in the practice of public
accounting.
2. Whenever the total number of registered public accountants who
practice is 10 or fewer, the Board must consist of six members who are
certified public accountants and the member who is a registered public
accountant until his term of office expires. Thereafter, the Board must
consist of:
(a) Six members who are certified public accountants, one of whom
must be employed by the government or by private industry.
(b) One member who represents the public. This member must not be:
(1) A certified public accountant, a public accountant or a
registered public accountant; or
(2) The spouse or the parent or child, by blood, marriage or
adoption, of a certified public accountant, a public accountant or a
registered public accountant.
3. No person may be appointed to the Board unless he is:
(a) Engaged in active practice as a certified public accountant or
registered public accountant and holds a live permit to practice public
accounting in this State, or is appointed as the member who represents
the public.
(b) A resident of the State of Nevada.
(Added to NRS by 1960, 160; A 1977, 272; 1979, 671; 1981, 1380;
1991, 2150; 2003, 1189 )
No person who has served
two successive complete terms is eligible for reappointment until 1 year
after the expiration of those terms. Appointment to fill an unexpired
term shall not be considered as a complete term.
(Added to NRS by 1960, 161; A 1971, 734; 1977, 273, 1249)
1. The Nevada Society of Certified Public Accountants shall, at
least 30 days before the beginning of any term, or within 30 days after a
position on the Board becomes vacant, submit to the Governor the names of
at least three persons qualified for membership on the Board for each
position to be filled by a certified public accountant. The Governor
shall appoint new members or fill the vacancy from the list, or request a
new list. If the Nevada Society of Certified Public Accountants fails to
submit timely nominations for a position on the Board, the Board may
submit nominations to the Governor, who shall appoint members from among
the nominees or request a new list.
2. The Governor may appoint any qualified person who is a resident
of this State to the position which is to be occupied by a person who
represents the public.
(Added to NRS by 1960, 161; A 1977, 1250; 1981, 1380; 1991, 2150)
The Governor shall remove from the
Board any member whose permit to practice has become void or has been
revoked or suspended, and may, after a hearing, remove any member for
neglect of duty or other just cause.
(Added to NRS by 1960, 162)
1. Annually the Board shall elect a President and a
Secretary-Treasurer from among its members.
2. The Board may employ such personnel, including attorneys,
investigators and other professional consultants, and arrange for such
assistance as the Board may require for the performance of its duties.
(Added to NRS by 1960, 162; A 1963, 147)
A majority of the Board shall constitute a
quorum for the transaction of business.
(Added to NRS by 1960, 162; A 1973, 1128)
The Board may maintain offices in as many
localities in the State as it finds necessary to carry out the provisions
of this chapter.
(Added to NRS by 1963, 147)
1. Each member of the Board is entitled to receive:
(a) A salary of not more than $80 per day, as fixed by the Board,
while engaged in the business of the Board; and
(b) A per diem allowance and travel expenses at a rate fixed by the
Board, while engaged in the business of the Board. The rate must not
exceed the rate provided for state officers and employees generally.
2. While engaged in the business of the Board, each employee of
the Board is entitled to receive a per diem allowance and travel expenses
at a rate fixed by the Board. The rate must not exceed the rate provided
for state officers and employees generally.
(Added to NRS by 1960, 162; A 1963, 147; 1971, 735; 1989, 1696)
The Board shall adopt regulations
reasonably necessary and expedient for the orderly conduct of its affairs
and for the administration of this chapter.
(Added to NRS by 1960, 162; A 1971, 735; 1981, 1381)
The Board shall:
1. Have a seal of which judicial notice must be taken.
2. Keep records of its proceedings. In any proceedings in court,
civil or criminal, arising out of or founded upon any provision of this
chapter, copies of those records certified as correct under the seal of
the Board are admissible in evidence as tending to prove the contents of
the records.
3. Maintain a website on the Internet or its successor and post on
its website:
(a) The names arranged alphabetically by classifications of all
accountants and business entities holding licenses, certificates,
registrations or permits under this chapter.
(b) The names of the members of the Board.
(c) Such other matter as may be deemed proper by the Board.
(Added to NRS by 1960, 162; A 1981, 1381; 2005, 251 )
The Board shall operate on the basis of
a fiscal year commencing on July 1 and terminating on June 30.
(Added to NRS by 1963, 147)
1. Except as otherwise provided in subsection 3, all fees and
other money received by the Board pursuant to the provisions of this
chapter must be deposited in banks, credit unions or savings and loan
associations in the State of Nevada and expended solely for the purposes
of this chapter. The money so deposited does not revert to the State
General Fund. The compensation provided for by this chapter and all
expenses incurred under this chapter must be paid from this money. No
compensation or expenses incurred under this chapter may be charged
against the State General Fund.
2. The Board may delegate to a hearing officer or panel its
authority to take any disciplinary action pursuant to this chapter,
impose and collect civil penalties, court costs and attorney’s fees
therefor and deposit the money therefrom in banks, credit unions or
savings and loan associations in this State.
3. If a hearing officer or panel is not authorized to take
disciplinary action pursuant to subsection 2 and the Board deposits the
money collected from the imposition of civil penalties, court costs and
attorney’s fees with the State Treasurer for credit to the State General
Fund, it may present a claim to the State Board of Examiners for
recommendation to the Interim Finance Committee if money is needed to pay
attorney’s fees or the costs of an investigation, or both.
(Added to NRS by 1960, 162; A 1963, 147; 1983, 1533; 1999, 1529
)
1. The Board may by regulation adopt and amend rules of
professional conduct appropriate to establish and maintain a high
standard of quality, integrity and dignity in the profession of public
accountancy.
2. In addition to the requirements of chapter 233B of NRS, the Board shall, at least 60 days before
the adoption of any such rule or amendment, mail copies of the proposed
rule or amendment to each holder of a live permit, to the address shown
in the records of the Board, together with a notice advising him of the
date, time and place of the hearing on the proposed rule or amendment and
requesting that he submit his comments thereon at least 15 days before
the hearing. The comments are advisory only. Failure by inadvertence or
error to mail the rule, amendment or notice to each holder of a permit
does not affect the validity of any rule or amendment if the Board has
made an effort in good faith to mail the notice to all holders of permits.
3. The Board may adopt regulations concerning the professional
conduct of corporations, partnerships and limited-liability companies
practicing certified public accounting or public accounting which it
deems consistent with or required by the public welfare, including
regulations:
(a) Governing the style, name and title of the corporations,
partnerships and limited-liability companies.
(b) Governing the affiliation of the corporations, partnerships and
limited-liability companies with any other organizations.
(Added to NRS by 1960, 162; A 1971, 735; 1981, 1381; 1989, 1601;
1995, 134; 1999, 1695 )
The Board may
by regulation establish committees to assist in the management of its
affairs and in the investigation of grievances.
(Added to NRS by 1960, 163; A 1971, 736; 1973, 1128; 1981, 1382;
1989, 1601)
CERTIFIED PUBLIC ACCOUNTANTS
1. Except as otherwise provided in this section and NRS 628.310
, a certificate of certified public
accountant must be granted by the Board to any person who:
(a) Is a resident of this State or, if not a resident, has
designated to the Board an agent who is a resident for notification and
service of process;
(b) Is a person who is without any history of acts involving
dishonesty or moral turpitude;
(c) Complies with the requirements of education and experience as
provided in NRS 628.200 ;
(d) Has submitted to the Board a complete set of his fingerprints
and written permission authorizing the Board to forward the fingerprints
to the Central Repository for Nevada Records of Criminal History for
submission to the Federal Bureau of Investigation for its report; and
(e) Has passed the examination prescribed by the Board.
2. The Board may refuse to grant a certificate of certified public
accountant to an applicant if he has been convicted of a felony relating
to the practice of a certified public accountant under the laws of any
state or of the United States.
3. The Board may issue a provisional certificate to an applicant
until the Board receives the report from the Federal Bureau of
Investigation.
(Added to NRS by 1960, 164; A 1971, 220, 737; 1975, 1295; 1981,
1383; 1989, 1602; 1993, 531; 1999, 1695 ; 2003, 2705 )
1. Except as otherwise provided in subsection 4, the requirement
of education for a certificate of certified public accountant is at least
150 semester hours or an equivalent number of quarter hours and includes
a baccalaureate degree or an equivalent degree from a college or
university recognized by the Board:
(a) With a major in accounting, or what the Board determines to be
substantially the equivalent of a major in accounting; or
(b) With a major other than accounting supplemented by what the
Board determines to be substantially the equivalent of an accounting
major, including related courses in other areas of business
administration.
2. The requirement for experience for a certificate of certified
public accountant is:
(a) Two years of public accounting experience in a partnership,
corporation, limited-liability company or sole proprietorship engaged in
the practice of public accounting under the direct supervision of a
person who is a certified public accountant; or
(b) Experience in internal auditing work or governmental accounting
and auditing work of a character and for a length of time sufficient in
the opinion of the Board to be substantially equivalent to the
requirements of paragraph (a).
3. The Board:
(a) Shall adopt regulations concerning:
(1) The number of semester hours or an equivalent number of
quarter hours in accounting and other courses required by an applicant to
satisfy the requirements of subsection 1.
(2) The public accounting experience, internal auditing
work, and governmental accounting and auditing work required by an
applicant to satisfy the requirements of subsection 2.
(b) May provide by regulation for the substitution of qualified
programs of continuing education to satisfy partially the requirement of
experience described in paragraph (b) of subsection 2 or may add any
program to the requirement of experience.
4. Notwithstanding any provision of this section to the contrary,
an applicant for a certificate of certified public accountant who has
received conditional credit pursuant to NRS 628.260 for passing a section of the examination
required for a certificate, and who applies that credit to his subsequent
passage of the examination, is subject to the educational requirements to
receive a certificate that were in effect on the date on which he first
received the conditional credit.
(Added to NRS by 1960, 164; A 1971, 738; 1981, 1383; 1991, 2151;
1993, 507; 1995, 447; 1999, 1696 ; 2005, 252 )
Repealed. (See chapter 91, Statutes of Nevada 2005,
at page 255 .)
The Board shall prescribe by regulation
the methods of applying for and completing an examination, including
grading and the requirements to pass the examination. The Board may use
all or any part of the Uniform Certified Public Accountant Examination
and Advisory Grading Service of the American Institute of Certified
Public Accountants as it deems appropriate to assist it in performing its
duties hereunder.
(Added to NRS by 1960, 166; A 1971, 739; 1979, 672; 1981, 1384;
1999, 1697 ; 2005, 253 )
A candidate for a certificate of
certified public accountant, who has met the educational requirements as
provided in NRS 628.200 , is eligible to
take the examination without waiting until he meets the requirements of
experience if he also meets the requirements of paragraphs (a) and (b) of
subsection 1 of NRS 628.190 .
(Added to NRS by 1960, 166; A 1971, 739; 1981, 1384; 1993, 532;
1999, 1697 )
A candidate for the certificate of certified
public accountant who has successfully completed the examination required
by NRS 628.190 has no status as a
certified public accountant until he has the requisite experience and has
received his certificate as a certified public accountant. The Board may
establish a fee for issuing a certificate and a fee for the evaluation of
experience in amounts set in regulations adopted by the Board.
(Added to NRS by 1960, 166; A 1971, 739; 1979, 672; 1981, 1385;
1989, 1602)
1. The Board may by regulation prescribe the terms and conditions
under which a candidate:
(a) Must pass all sections of the examination prescribed by the
Board pursuant to NRS 628.190 to
qualify for a certificate.
(b) Who, at any given examination, passes at least one section, but
not all sections, may receive conditional credit for each section passed,
and need not sit for reexamination in those sections. The Board may by
regulation provide a limit on the time in which each candidate must pass
all sections of the examination or lose any credit received.
2. The Board may give credit to a candidate who has passed all or
part of the examination in another state or other jurisdiction of the
United States if the Board determines by regulation that the standards
under which credit is granted for the examination are as high as the
standards established for the examination required by this chapter.
(Added to NRS by 1960, 166; A 1971, 740; 1979, 672; 1981, 1385;
1993, 532; 1999, 1697 ; 2005, 253 )
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 examination prescribed by the Board.
2. The applicable fee must be paid by the candidate at the time he
applies for examination.
(Added to NRS by 1960, 167; A 1971, 740; 1979, 673; 1981, 1386;
1993, 532; 1999, 1698 ; 2001, 569 ; 2005, 253 )
P.A.” Any person who has received from the Board a
certificate as a certified public accountant and who holds a permit
issued under NRS 628.380 , which is in
full force and effect, shall be styled and known as a certified public
accountant and may also use the abbreviation “C.P.A.” The Board shall
maintain a list of certified public accountants. Any certified public
accountant may also be known as a public accountant.
(Added to NRS by 1960, 167)
Repealed. (See chapter 91, Statutes of
Nevada 2005, at page 255 .)
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 a partnership, corporation, limited-liability
company or sole proprietorship engaged in the practice of public
accounting and working 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 are
determined by the Board to satisfy the requirements for education of this
State.
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 any 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.
(Added to NRS by 1960, 167; A 1971, 741; 1979, 673; 1981, 1386;
1993, 546; 1999, 1698 ; 2001, 569 ; 2005, 254 )
REGISTRATION OF PUBLIC ACCOUNTANTS, PARTNERSHIPS, CORPORATIONS,
LIMITED-LIABILITY COMPANIES AND OFFICES AND REGISTRATION OF FICTITIOUS
NAMES
1. One or more natural persons may organize a corporation for the
practice of public accounting under the Professional Corporations and
Associations Act, chapter 89 of NRS. The
corporation is not required to have more directors than shareholders, but
at least one director must be a shareholder. The other directors need
not, but may, be shareholders.
2. One or more natural persons may:
(a) Organize a corporation pursuant to chapter 78 of NRS;
(b) Qualify to do business as a foreign corporation pursuant to
chapter 80 of NRS;
(c) Organize a limited-liability company pursuant to chapter 86
of NRS; or
(d) Register as a foreign limited-liability company pursuant to
chapter 86 of NRS,
Ę to practice public accounting.
3. The organization, qualification or registration of a
corporation or company pursuant to subsection 2:
(a) Does not modify:
(1) The relationship between an accountant and a client;
(2) The liability arising out of that relationship; or
(3) The compliance of the corporation or company with this
chapter or any regulations adopted pursuant thereto.
(b) Does not render:
(1) A person liable in tort for any act in which he has not
personally participated.
(2) The manager, a member or an employee of a
limited-liability company liable in contract for any contract which he
executes on behalf of a limited-liability company within the limits of
his authority.
4. Notwithstanding any specific statute to the contrary, a simple
majority of the ownership of a corporation, partnership or
limited-liability company organized for the practice of public accounting
in this State, in terms of the financial interests and voting rights of
all shareholders, partners, officers, members and principals thereof,
must belong to persons who are certified public accountants in any state
or registered public accountants in this State. Each shareholder,
partner, officer, member or principal whose principal place of business
is in this State and who performs professional services in this State
must be:
(a) If the corporation, partnership or limited-liability company
registered with the Board is a corporation, partnership or
limited-liability company of certified public accountants, a certified
public accountant in this State in good standing; and
(b) If the corporation, partnership or limited-liability company
registered with the Board is a corporation, partnership or
limited-liability company of public accountants, a certified public
accountant or registered public accountant in this State in good standing.
5. A corporation, partnership or limited-liability company
organized for the practice of public accounting in this State may have as
a shareholder, partner, officer, member or principle any natural person
who is not a certified public accountant in any state or a registered
public accountant in this State if:
(a) The natural person is actively engaged in the business of the
corporation, partnership or limited-liability company, or any affiliate
thereof; and
(b) The corporation, partnership or limited-liability company
complies with any other requirements that the Board by regulation may
impose.
(Added to NRS by 1971, 748; A 1995, 1477; 1997, 924; 1999, 1699
)
1. A partnership engaged in this State in the practice of public
accounting shall register with the Board as a partnership of certified
public accountants and meet the following requirements:
(a) At least one general partner must be a certified public
accountant of this State in good standing.
(b) Each partner who is a resident of this State and is personally
and regularly engaged within this State in the practice of public
accounting as a member thereof must be a certified public accountant of
this State in good standing.
(c) Each partner who personally engages in the practice of public
accounting in this State and who is not a resident of this State and is
not regularly employed in an office of the firm in this State must be a
certified public accountant in good standing of some state or a
jurisdiction of the United States approved by the Board by regulation.
(d) Each partner who is regularly engaged in the practice of public
accounting within the United States must be a certified public accountant
in good standing of some state or jurisdiction of the United States
approved by the Board by regulation.
(e) Each manager in charge of an office of the firm in this State
must be a certified public accountant of this State in good standing.
(f) A corporation or limited-liability company which is registered
pursuant to NRS 628.343 or 628.345
may be a partner, and a partnership
which is registered pursuant to this section may be a general partner, in
a partnership engaged in the practice of public accounting.
2. Application for registration must be made upon the affidavit of
a general partner who holds a live permit to practice in this State as a
certified public accountant. The Board shall determine whether the
applicant is eligible for registration and may charge an initial fee and
an annual renewal fee set by the Board by regulation. A partnership which
is so registered may use the words “certified public accountants” or the
abbreviation “C.P.A.’s” or “CPA’s” in connection with its partnership
name. Notice must be given to the Board within 1 month after the
admission to or withdrawal of a partner from any partnership so
registered.
(Added to NRS by 1960, 167; A 1971, 741; 1979, 673; 1981, 1386;
1995, 1477; 1997, 925)
1. A corporation organized for the practice of public accounting
shall register with the Board as a corporation of certified public
accountants and comply with the following requirements:
(a) The sole purpose and business of the corporation must be to
furnish to the public services not inconsistent with this chapter or the
regulations of the Board, except that the corporation may invest its
money in a manner not incompatible with the practice of public accounting.
(b) The principal officer of the corporation and any officer or
director having authority over the practice of public accounting by the
corporation must be a certified public accountant of some state in good
standing.
(c) At least one shareholder of the corporation must be a certified
public accountant of this State in good standing.
(d) Each manager in charge of an office of the corporation in this
State and each shareholder or director who is regularly and personally
engaged within this State in the practice of public accounting must be a
certified public accountant of this State in good standing.
(e) In order to facilitate compliance with the provisions of this
section relating to the ownership of stock, there must be a written
agreement binding the shareholders or the corporation to purchase any
shares offered for sale by, or not under the ownership or effective
control of, a qualified shareholder. The corporation may retire any
amount of stock for this purpose, notwithstanding any impairment of its
capital, so long as one share remains outstanding.
(f) The corporation shall comply with other regulations pertaining
to corporations practicing public accounting in this State adopted by the
Board.
2. Application for registration must be made upon the affidavit of
a shareholder who holds a live permit to practice in this State as a
certified public accountant. The Board shall determine whether the
applicant is eligible for registration and may charge an initial fee and
an annual renewal fee set by the Board by regulation. A corporation which
is so registered may use the words “certified public accountants” or the
abbreviation “C.P.A.’s” or “CPA’s” in connection with its corporate name.
Notice must be given to the Board within 1 month after the admission to
or withdrawal of a shareholder from any corporation so registered.
(Added to NRS by 1995, 1474; A 1997, 926; 1999, 1701 )
1. A limited-liability company organized for the practice of
public accounting shall register with the Board as a limited-liability
company of certified public accountants and comply with the following
requirements:
(a) The sole purpose and business of the limited-liability company
must be to furnish to the public services not inconsistent with this
chapter or the regulations of the Board, except that the
limited-liability company may invest its money in a manner not
incompatible with the practice of public accounting.
(b) The manager, if any, of the limited-liability company must be a
certified public accountant of some state in good standing.
(c) At least one member of the limited-liability company must be a
certified public accountant of this State in good standing.
(d) Each person in charge of an office of the limited-liability
company in this State and each member who is regularly and personally
engaged within this State in the practice of public accounting must be a
certified public accountant of this State in good standing.
(e) In order to facilitate compliance with the provisions of this
section relating to the ownership of interests, there must be a written
agreement binding the members or the limited-liability company to
purchase any interest offered for sale by, or not under the ownership or
effective control of, a qualified member.
(f) The limited-liability company shall comply with other
regulations pertaining to limited-liability companies practicing public
accounting in this State adopted by the Board.
2. Application for registration must be made upon the affidavit of
the manager or a member of the limited-liability company. The affiant
must hold a live permit to practice in this State as a certified public
accountant. The Board shall determine whether the applicant is eligible
for registration and may charge an initial fee and an annual renewal fee
set by the Board by regulation. A limited-liability company which is so
registered may use the words “certified public accountants” or the
abbreviation “C.P.A.’s” or “CPA’s” in connection with its name. Notice
must be given to the Board within 1 month after the admission to or
withdrawal of a member from any limited-liability company so registered.
(Added to NRS by 1995, 1474; A 1999, 1701 )
A license as a public accountant may be issued only to
persons who have met the requirements of NRS 628.190 .
(Added to NRS by 1960, 168; A 1973, 1129; 1975, 1295; 1981, 1387;
2005, 255 )
1. A partnership engaged in this State in the practice of public
accounting shall register with the Board as a partnership of public
accountants and meet the following requirements:
(a) At least one general partner thereof must be a certified public
accountant or a registered public accountant of this State in good
standing.
(b) Each partner thereof personally and regularly engaged within
this State in the practice of public accounting as a member thereof must
be a certified public accountant or a registered public accountant of
this State in good standing.
(c) Each manager in charge of an office of the firm in this State
must be a certified public accountant or a registered public accountant
of this State in good standing.
(d) A corporation or limited-liability company which is registered
pursuant to NRS 628.363 or 628.365
may be a partner, and a partnership
which is registered pursuant to this section may be a general partner, in
a partnership engaged in the practice of public accounting.
2. Application for registration must be made upon the affidavit of
a general partner who holds a live permit to practice in this State as a
certified public accountant or as a registered public accountant. The
Board shall determine whether the applicant is eligible for registration.
The Board may charge a registration fee and renewal fee and a reporting
fee in an amount set by regulation. A partnership which is so registered
may use the words “public accountants” in connection with its partnership
name. Notice must be given to the Board within 1 month after the
admission to or withdrawal of a partner from any partnership so
registered.
(Added to NRS by 1960, 169; A 1971, 742; 1979, 674; 1981, 1388;
1995, 1478; 1997, 927)
1. A corporation organized for the practice of public accounting
shall register with the Board as a corporation of public accountants and
comply with the following requirements:
(a) The sole purpose and business of the corporation must be to
furnish to the public services not inconsistent with this chapter or the
regulations of the Board, except that the corporation may invest its
money in a manner not incompatible with the practice of public accounting.
(b) The principal officer of the corporation and any officer or
director having authority over the practice of public accounting by the
corporation must be a certified public accountant or registered public
accountant of this State in good standing.
(c) Each manager in charge of an office of the corporation in this
State must be a certified public accountant or a registered public
accountant of this State in good standing.
(d) In order to facilitate compliance with the provisions of this
section relating to the ownership of stock, there must be a written
agreement binding the shareholders or the corporation to purchase any
shares offered for sale by, or not under the ownership or effective
control of, a qualified shareholder. The corporation may retire any
amount of stock for this purpose, notwithstanding any impairment of its
capital, so long as one share remains outstanding.
(e) The corporation shall comply with other regulations pertaining
to corporations practicing public accounting in this State adopted by the
Board.
2. Application for registration must be made upon the affidavit of
a shareholder who holds a live permit to practice in this State as a
certified public accountant or as a registered public accountant. The
Board shall determine whether the applicant is eligible for registration.
The Board may charge a registration fee and renewal fee and a reporting
fee in an amount set by regulation. A corporation which is so registered
may use the words “public accountants” in connection with its corporate
name. Notice must be given to the Board within 1 month after the
admission to or withdrawal of a shareholder from any corporation so
registered.
(Added to NRS by 1995, 1476; A 1997, 927; 1999, 1702 )
1. A limited-liability company organized for the practice of
public accounting shall register with the Board as a limited-liability
company of public accountants and comply with the following requirements:
(a) The sole purpose and business of the limited-liability company
must be to furnish to the public services not inconsistent with this
chapter or the regulations of the Board, except that the
limited-liability company may invest its money in a manner not
incompatible with the practice of public accounting.
(b) The manager, if any, of the limited-liability company must be a
certified public accountant or registered public accountant of this State
in good standing.
(c) Each person in charge of an office of the limited-liability
company in this State must be a certified public accountant or a
registered public accountant of this State in good standing.
(d) In order to facilitate compliance with the provisions of this
section relating to the ownership of interests, there must be a written
agreement binding the members or the limited-liability company to
purchase any interest offered for sale by, or not under the ownership or
effective control of, a qualified member.
(e) The limited-liability company shall comply with other
regulations pertaining to limited-liability companies practicing public
accounting in this State adopted by the Board.
2. Application for registration must be made upon the affidavit of
the manager or a member of the limited-liability company. The affiant
must hold a live permit to practice in this State as a certified public
accountant or as a registered public accountant. The Board shall
determine whether the applicant is eligible for registration. The Board
may charge a registration fee and renewal fee and a reporting fee in an
amount set by regulation. A limited-liability company which is so
registered may use the words “public accountants” in connection with its
name. Notice must be given to the Board within 1 month after the
admission to or withdrawal of a member of a limited-liability company so
registered.
(Added to NRS by 1995, 1475; A 1999, 1703 )
1. Each office established or maintained in this State for the
practice of public accounting in this State by a certified public
accountant or a partnership, corporation or limited-liability company
composed of certified public accountants, or by a registered public
accountant or a partnership, corporation or limited-liability company
composed of registered public accountants, must be registered annually
under this chapter with the Board. The Board may charge a fee for the
registration of an office in an amount set by regulation.
2. Each office must be under the supervision of a manager, who may
be a partner, shareholder, member or employee holding a certificate and a
live permit.
3. The Board shall by regulation prescribe the procedure to be
followed in registering offices.
(Added to NRS by 1960, 169; A 1971, 743; 1981, 1389; 1995, 1479;
1997, 928)
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.
(Added to NRS by 2001, 568 )
PERMIT FOR PUBLIC ACCOUNTING
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 holder of a certificate or registrant are maintained and
registered as required under NRS 628.370 , and if the 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 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 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 the
renewal of a permit after January 31 of each year.
5. The Board may provide by regulation for the placing of
certificates and registrations 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.
(Added to NRS by 1960, 170; A 1971, 743; 1973, 1130; 1981, 1389;
1999, 1704 ; 2001, 570 )
CONTINUING EDUCATION
The Legislature finds that:
1. The explosion of knowledge and the increasing complexity of
practice make it essential that certified public accountants and public
accountants continue to develop their competence and maintain the general
quality of the practice of their profession.
2. The public interest requires that certified public accountants
and registered public accountants provide competent service in all areas
of their practice.
3. Formal programs of continuing education provide certified
public accountants and public accountants with the opportunity to
maintain the general quality of the practice of their profession.
4. It is in the public interest to require that certified public
accountants and registered public accountants who have certificates and
who have been registered, respectively, under the provisions of this
chapter comply with requirements for continuing education adopted by the
Board as a prerequisite to the issuance or renewal of permits to engage
in the practice of public accounting pursuant to NRS 628.380 .
(Added to NRS by 1973, 1127; A 1981, 1390)
1. The Board may by regulation prescribe, amend or repeal rules,
including, but not limited to:
(a) A definition of basic requirements for continuing education;
(b) A delineation of qualifying programs;
(c) A system of control and reporting; and
(d) A program to ensure that licensees are maintaining the
standards of the profession.
2. In exercising its power under this section, the Board shall
establish standards which will assure reasonable currency of knowledge as
a basis for a high standard of practice by certified public accountants
and registered public accountants. The standards must be established in a
manner to assure that a variety of alternatives are available to
certificate holders and registrants to comply with the requirements of
continuing education for renewal of permits and must take cognizance of
specialized areas of practice.
(Added to NRS by 1973, 1127; A 1981, 1390; 1989, 1603)
The Board may, in accordance with the
intent of this chapter, make exceptions from continuing education
requirements for certificate holders or registrants not engaged in public
practice, or for reasons of health, military service or other good cause,
except that if such certificate holder or registrant returns to the
practice of public accounting he shall meet such continuing education
requirements as the Board may determine.
(Added to NRS by 1973, 1128)
The Board may
appoint a Committee on Continuing Education consisting of certified
public accountants and registered public accountants in active practice
and holding live permits. Upon assignment and as directed by the Board,
the Committee shall assist the Board in the administration of the
provisions of this chapter for continuing education.
(Added to NRS by 1973, 1128; A 1981, 1391)
DISCIPLINARY ACTION
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 publicly 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 a 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 relating to the practice of public accounting.
(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) Sixty days after the expiration date of the permit to
practice last obtained or renewed by the holder of a certificate or
registrant; or
(2) Sixty days after the date upon which the 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.
4. The Board shall not privately censure the holder of any permit,
license or certificate of registration.
5. An order that imposes discipline and the findings of fact and
conclusions of law supporting that order are public records.
(Added to NRS by 1960, 170; A 1981, 1391; 1983, 1534; 1989, 1603;
1993, 547; 1995, 1480; 1999, 1704 ; 2001, 571 ; 2003, 2706 , 3425 )
[Expires by limitation 2 years after the date of the repeal of
the federal law requiring each state to establish procedures for
withholding, suspending and restricting the professional, occupational
and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child
support proceedings.]
1. If the Board receives a copy of a court order issued pursuant
to NRS 425.540 that provides for the
suspension of all professional, occupational and recreational licenses,
certificates and permits issued to a person who is the holder of a
certificate issued pursuant to NRS 628.190 to 628.310 ,
inclusive, a registration or license granted to a registered public
accountant pursuant to NRS 628.350 or a
permit issued pursuant to NRS 628.380 ,
the Board shall deem the certificate, registration, license or permit
issued to that person to be suspended at the end of the 30th day after
the date on which the court order was issued unless the Board receives a
letter issued to the holder of the certificate, registration, license or
permit by the district attorney or other public agency pursuant to NRS
425.550 stating that the holder of the
certificate, registration, license or permit has complied with the
subpoena or warrant or has satisfied the arrearage pursuant to NRS
425.560 .
2. The Board shall reinstate a certificate issued pursuant to NRS
628.190 to 628.310 , inclusive, a registration or license granted
to a registered public accountant pursuant to NRS 628.350 or a permit issued pursuant to NRS 628.380
that has been suspended by a district
court pursuant to NRS 425.540 if the
Board receives a letter issued by the district attorney or other public
agency pursuant to NRS 425.550 to the
person whose certificate, registration, license or permit was suspended
stating that the person whose certificate, registration, license or
permit was suspended has complied with the subpoena or warrant or has
satisfied the arrearage pursuant to NRS 425.560 .
(Added to NRS by 1997, 2118; A 2005, 2807 )
In addition to any penalty which it may
assess pursuant to NRS 628.390 , the
Board may suspend any of the provisions of an order issued pursuant to
that section and place the certified or registered public accountant on
probation, subject to limitations and conditions specified by the Board,
which may include requirements for continuing education or for a review
of the accountant’s practice, either periodically or continuously.
(Added to NRS by 1981, 1380)
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.
(Added to NRS by 1960, 171; A 1971, 744; 1981, 1392; 1995, 1481;
2001, 572 )
1. The Board may initiate proceedings under this chapter either on
its own motion or on the complaint of any person.
2. A written notice of the hearing must be served on the
respondent not less than 30 days before the date of the hearing, either
personally or by mailing a copy thereof by registered or certified mail
to the address of the respondent last known to the Board.
3. If, after having been served with the notice of hearing, the
respondent fails to appear at the hearing and defend, the Board may
proceed to hear evidence against him and may enter such order as is
justified by the evidence. The order is final unless the respondent
petitions for a review thereof. Within 30 days after the date of any
order, upon a showing of good cause for failing to appear and defend, the
Board may reopen the proceedings and may permit the respondent to submit
evidence in his behalf.
4. At any hearing a respondent may be represented before the Board
by counsel or by a certified public accountant or registered public
accountant of this State in good standing. The respondent is entitled, on
application to the Board, to the issuance of subpoenas to compel the
attendance of witnesses on his behalf.
5. The Board, or any member thereof, may issue subpoenas to compel
the attendance of witnesses and the production of documents. In case of
disobedience to a subpoena the Board may invoke the aid of any court of
this State in requiring the attendance and testimony of witnesses and the
production of documentary evidence.
6. A hearing may be conducted by:
(a) The Board, less any member or members who have been
disqualified, without the appointment of persons to hear the case in
place of the disqualified members; or
(b) A member of the Board appointed by the Board as a hearing
officer, with the remaining members of the Board, less any member or
members who have been disqualified, to review the record, make a final
decision and issue the order,
Ę unless the Board, after disqualifications, consists of less than three
members to hear or review the case, in which circumstance the Governor
must appoint one or more qualified persons so that the panel which hears
or reviews the case consists of at least three persons.
7. A stenographic record of the hearing must be kept and a
transcript thereof filed with the Board.
8. At all hearings the Attorney General or one of his deputies
designated by him or such other legal counsel as may be employed shall
appear and represent the Board.
9. The decision of the Board must be by majority vote thereof.
(Added to NRS by 1960, 171; A 1969, 95; 1971, 744; 1981, 98, 1392;
1989, 1604)
1. Any disciplinary action taken by a hearing officer or panel
pursuant to NRS 628.140 is subject to
the same procedural requirements which apply to disciplinary actions
taken by the Board, and the officer or panel has those powers and duties
given to the Board in relation thereto.
2. A decision of the hearing officer or panel relating to the
imposition of a civil penalty, costs and attorney’s fees is a final
decision in a contested case. Any party aggrieved by a decision of the
officer or panel to place a certified or registered public accountant on
probation or revoke or suspend a certificate, permit, registration or
license may appeal that decision to the Board.
(Added to NRS by 1983, 1533; A 1989, 1605)
1. Except as otherwise provided in this section, a complaint filed
with the Board, all documents and other information filed with the
complaint and all documents and other information compiled as a result of
an investigation conducted to determine whether to initiate disciplinary
action are confidential.
2. The complaint or other document filed by the Board to initiate
disciplinary action and all documents and information considered by the
Board when determining whether to impose discipline are public records.
(Added to NRS by 2003, 3425 )
[Effective until the date 2 years after the date of the repeal of the
federal law requiring each state to establish procedures for withholding,
suspending and restricting the professional, occupational and
recreational licenses for child support arrearages and for noncompliance
with certain processes relating to paternity or child support
proceedings.] Upon application in writing and after a hearing, the Board
may:
1. Issue a new certificate to a certified public accountant whose
certificate has been revoked;
2. Permit the reregistration of a public accountant whose
registration has been revoked;
3. Reissue or modify the suspension of any permit to practice
public accounting which has been revoked or suspended, unless the permit
was suspended pursuant to NRS 425.540 ;
or
4. Modify any action taken against any person or any order which
it has issued pursuant to NRS 628.390 .
(Added to NRS by 1960, 172; A 1981, 1394; 1997, 2118; 2005, 2807
)
[Effective on the
date 2 years after the date of the repeal of the federal law requiring
each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for
child support arrearages and for noncompliance with certain processes
relating to paternity or child support proceedings.] Upon application in
writing and after a hearing, the Board may:
1. Issue a new certificate to a certified public accountant whose
certificate has been revoked;
2. Permit the reregistration of a public accountant whose
registration has been revoked;
3. Reissue or modify the suspension of any permit to practice
public accounting which has been revoked or suspended; or
4. Modify any action taken against any person or any order which
it has issued pursuant to NRS 628.390 .
(Added to NRS by 1960, 172; A 1981, 1394; 1997, 2118; 2005, 2807
, effective on the date 2 years after the
date of the repeal of the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and
for noncompliance with certain processes relating to paternity or child
support proceedings)
MISCELLANEOUS PROVISIONS
All statements, records, schedules, working
papers and memoranda made by a certified public accountant or a
registered public accountant incident to or in the course of professional
service to clients by the accountant, except reports submitted by a
certified public accountant or a registered public accountant to a
client, are the property of the accountant, in the absence of an express
agreement between the accountant and the client to the contrary. No such
statement, record, schedule, working paper or memorandum may be sold,
transferred or bequeathed, without the consent of the client or his
personal representative or assignee, to anyone other than one or more
surviving partners or new partners of the accountant or to his
corporation.
(Added to NRS by 1960, 173; A 1971, 745; 1981, 1394)
1. Except as otherwise provided in this section, a practitioner
shall retain all documentation related to an attestation for not less
than 7 years after the date on which the practitioner delivers the
attestation to the client.
2. Documentation related to an attestation that, at the end of the
retention period set forth in subsection 1, is a part of or subject to a
pending investigation of, or disciplinary action against, a practitioner
must be retained and must not be destroyed until the practitioner has
been notified in writing that the investigation or disciplinary action
has been closed or concluded.
3. Any change in documentation related to an attestation must set
forth the identity of each person making the change, the identity of each
person approving the change, the date on which the change is made and the
reason for the change if the reason is other than the assembling of
preexisting documents. Any documentation related to an attestation which
is changed must contain sufficient detail to enable a person reviewing
the changed documentation who has relevant knowledge and experience but
no previous connection with the attestation, to understand the nature,
timing, reasoning for and extent of the change.
4. During the 60 days immediately after the date on which a
practitioner delivers an attestation to a client, documents may be added
to the file for assemblage and documentation of work previously
performed. The provisions of this subsection do not authorize the
deferral of procedures related to attestations that are otherwise
required to be performed before the date of issuance of the attestation.
5. Each practitioner shall establish a policy for the retention
and destruction of documentation related to any attestation made by the
practitioner. The policy must provide for the preservation of
documentation related to an attestation for the period required pursuant
to subsection 1 and for the authorized custody, security, access,
retention and destruction of the documentation. The policy must be in
writing and must include, without limitation, procedures for:
(a) Maintaining back-up copies of electronic documentation related
to attestations at secure locations;
(b) Maintaining documentation related to attestations;
(c) Approving any changes to documentation related to attestations;
and
(d) Approving the destruction of documentation related to
attestations after that documentation is no longer required to be
maintained. The procedures must provide for the identification of those
persons, by name or position, who are authorized to approve the
destruction of the documentation.
6. As used in this section:
(a) “Change in documentation related to an attestation” includes
any addition, removal, deletion, substitution or editing of documentation
related to an attestation, including, without limitation, physical or
electronic additions to any file containing documentation related to an
attestation or to any preexisting documentation related to an
attestation, if the addition, removal, deletion, substitution or editing:
(1) Occurs after the date on which the attestation is
delivered to the client; and
(2) Is supported by the documentation related to the
attestation.
(b) “Documentation related to an attestation” includes, without
limitation:
(1) All documentation relating to consultations and
resolutions of any differences of professional opinion regarding the
exercise of professional judgment relating to an attestation; and
(2) Documentation of the findings or issues related to the
attestation that, based on the judgment of the practitioner after an
objective analysis of the facts and circumstances, are determined to be
significant, regardless of whether the documentation includes information
or data that is inconsistent with the final conclusions of the
practitioner.
(c) “Practitioner” means:
(1) A holder of a certificate issued pursuant to NRS 628.190
to 628.310 , inclusive, any registration or license
granted to a registered public accountant pursuant to NRS 628.350 or a permit issued pursuant to NRS 628.380
; or
(2) 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
which does not hold a live permit and does not have a registered office
or residence in this State, but has been issued, or has applied for, a
temporary permit pursuant to NRS 628.440 .
(Added to NRS by 2005, 250 )
1. This chapter does not prohibit any person from serving as an
employee of, or an assistant to, a certified public accountant or
registered public accountant who holds a live permit, or a partnership,
corporation or limited-liability company composed of certified public
accountants or registered public accountants registered pursuant to NRS
628.340 , 628.343 , 628.345 ,
628.360 , 628.363 or 628.365
if the employee or assistant does not issue any accounting or financial
statement over his name.
2. The Board may adopt regulations providing for the issuance of
temporary permits to persons who do not hold live permits and do not have
a registered office or residence in this State, or to partnerships,
corporations and limited-liability companies which are not registered and
have no registered office, to permit those persons, partnerships,
corporations and limited-liability companies to fulfill specific
engagements or employments in this State. A temporary permit:
(a) Is valid for no more than 6 months;
(b) Covers only one engagement; and
(c) May not be issued to any person unless he is a certified public
accountant or registered public accountant of another state or
jurisdiction of the United States approved by the Board, or to any
partnership, corporation or limited-liability company unless all of the
partners, shareholders or members thereof are certified public
accountants or registered public accountants of another state or a
jurisdiction of the United States approved by the Board.
3. Each person, partnership, corporation and limited-liability
company applying for a temporary permit shall file with the Board a
designation and acceptance of a resident agent for service of legal
process and shall pay a fee established by the Board by regulation before
commencing work for a client.
4. The person, partner, shareholder or member who is responsible
for the conduct of the engagement shall be deemed to be personally
engaged in the practice of public accounting in this State, and must meet
all requirements of NRS 628.310 and
requirements for continuing education.
5. A person who holds a temporary permit is subject to all of the
provisions of this chapter relating to discipline. The Board may refuse
to act upon an application for further permits for a period of time set
by the Board, or may refuse to issue a temporary permit to any person,
partnership corporation or limited-liability company if disciplinary
proceedings are pending in any jurisdiction.
(Added to NRS by 1960, 173; A 1971, 746; 1981, 1394; 1989, 1605;
1995, 1481)
UNLAWFUL ACTS; INJUNCTIVE RELIEF; PENALTIES
P.A.” A natural person shall not assume or use the
title or designation “certified public accountant” or the abbreviation
“C.P.A.” or any other title, designation, words, letters, abbreviation,
sign, card or device tending to indicate that he is a certified public
accountant, unless he has received a certificate as a certified public
accountant under NRS 628.190 to 628.310
, inclusive, holds a live permit, and
all of his offices in this State for the practice of public accounting
are maintained and registered as required under NRS 628.370 .
(Added to NRS by 1960, 173; A 1981, 1395; 1987, 1313)
P.A.” by partnership, corporation or limited-liability
company. A partnership, corporation or limited-liability company shall
not assume or use the title or designation “certified public accountant”
or the abbreviation “C.P.A.” or any other title, designation, words,
letters, abbreviation, sign, card or device tending to indicate that the
partnership, corporation or limited-liability company is composed of
certified public accountants unless the partnership, corporation or
limited-liability company is registered as a partnership, corporation or
limited-liability company of certified public accountants and all offices
of the partnership, corporation or limited-liability company in this
State for the practice of public accounting are maintained and registered
as required under NRS 628.370 .
(Added to NRS by 1960, 173; A 1971, 746; 1981, 1395; 1995, 1482)
” A natural person shall not assume or use
the title or designation “public accountant,” “registered public
accountant” or any other title, designation, words, letters,
abbreviation, sign, card or device tending to indicate that he is a
public accountant unless he is a registered public accountant, holds a
live permit, and all of his offices in this State for the practice of
public accounting are maintained and registered as required under NRS
628.370 , or unless he has received a
certificate as a certified public accountant under NRS 628.190 to 628.310 ,
inclusive, holds a live permit, and all of his offices in this State for
the practice of public accounting are maintained and registered as
required under NRS 628.370 .
(Added to NRS by 1960, 174; A 1981, 1396; 1987, 1313)
A partnership,
corporation or limited-liability company shall not assume or use the
title or designation “public accountant” or any other title, designation,
words, letters, abbreviation, sign, card or device tending to indicate
that the partnership, corporation or limited-liability company is
composed of public accountants, unless the partnership, corporation or
limited-liability company is registered as a partnership, corporation or
limited-liability company of registered public accountants or as a
partnership, corporation or limited-liability company of certified public
accountants and all offices of the partnership, corporation or
limited-liability company in this State for the practice of public
accounting are maintained and registered as required under NRS 628.370
.
(Added to NRS by 1960, 174; A 1971, 747; 1981, 1396; 1995, 1482)
1. Except as otherwise provided in subsection 2, a person,
partnership, corporation or limited-liability company shall not assume or
use the title or designation “certified accountant,” or any other title
or designation likely to be confused with “certified public accountant”
or “public accountant,” or any of the abbreviations “C.A.,” “P.A.,” or
similar abbreviations likely to be confused with “C.P.A.”
2. Anyone who holds a live permit and all of whose offices in this
State for the practice of public accounting are maintained and registered
as required under NRS 628.370 and
628.380 may hold himself out to the
public as an “accountant” or “auditor” and if he is a holder of a
certificate, as a “certified public accountant,” “C.P.A.” or “CPA,” or if
he is registered, as a “public accountant,” “P.A.” or “PA.”
(Added to NRS by 1960, 174; A 1971, 747; 1981, 1396; 1995, 1483)
1. Except as otherwise provided in subsection 2, a person shall
not sign or affix his name or the name of a partnership, corporation or
limited-liability company, or any trade or assumed name used by him or by
the partnership, corporation or limited-liability company in business,
with any wording indicating that he is an accountant or auditor, or that
the partnership, corporation or limited-liability company is authorized
to practice as an accountant or auditor or with any wording indicating
that he or the partnership, corporation or limited-liability company has
expert knowledge in accounting or auditing, to any accounting or
financial statement, or attest to any accounting or financial statement,
unless he holds a live permit, or the partnership, corporation or
limited-liability company is registered pursuant to NRS 628.340 , 628.343 ,
628.345 , 628.360 , 628.363 or
628.365 and all of his offices in this
State for the practice of public accounting are maintained and registered
under NRS 628.370 .
2. The provisions of subsection 1 do not prohibit:
(a) Any officer, employee, partner, principal or member of any
organization from affixing his signature to any statement or report in
reference to the financial affairs of that organization with any wording
designating the position, title or office which he holds in the
organization.
(b) Any act of a public official or public employee in the
performance of his duties as such.
(c) Any person who does not hold a live permit from preparing a
financial statement or issuing a report if the statement or report,
respectively, includes a disclosure that:
(1) The person who prepared the statement or issued the
report does not hold a live permit issued by the Board; and
(2) The statement or report does not purport to have been
prepared in compliance with the professional standards of accounting
adopted by the Board.
(Added to NRS by 1960, 174; A 1981, 1396; 1995, 1483; 1999, 1705
)
A person shall not sign or affix
the name of a partnership, corporation or limited-liability company, with
any wording indicating that it is a partnership, corporation or
limited-liability company composed of accountants or auditors or persons
having expert knowledge or special expertise in accounting or auditing,
to any accounting or financial statement, or attest to any accounting or
financial statement, unless the partnership, corporation or
limited-liability company is registered pursuant to NRS 628.340 , 628.343 ,
628.345 , 628.360 , 628.363 or
628.365 and all of its offices in this
State for the practice of public accounting are maintained and registered
as required under NRS 628.370 .
(Added to NRS by 1960, 175; A 1971, 747; 1981, 1397; 1995, 1483)
1. Except as otherwise provided in subsection 2, a person,
partnership, corporation or limited-liability company shall not engage in
the practice of public accounting or hold himself or itself out to the
public as an “accountant” or “auditor” by use of either or both of those
words, or by use of the word “accounting,” or any sign, card, letterhead
or in any advertisement or directory unless, if a natural person, he
holds a live permit, or if a partnership, corporation or
limited-liability company, it is registered pursuant to NRS 628.340
, 628.343 , 628.345 ,
628.360 , 628.363 or 628.365 .
2. The provisions of subsection 1 do not prohibit:
(a) Any officer, employee, partner, shareholder, principal or
member of any organization from describing himself by the position, title
or office he holds in that organization.
(b) Any act of a public official or public employee in the
performance of his duties as such.
(Added to NRS by 1960, 175; A 1971, 747; 1981, 1397; 1995, 1483)
1. A person shall not assume or use the title or designation
“certified public accountant” or “public accountant” in conjunction with
names indicating or implying that there is a partnership, corporation or
limited-liability company, or in conjunction with the designation “and
Company” or “and Co.” or a similar designation if there is in fact no
bona fide partnership, corporation or limited-liability company
registered under NRS 628.340 , 628.343
, 628.345 , 628.360 ,
628.363 or 628.365 . A sole proprietor or partnership lawfully
using a title or designation in conjunction with any names or designation
on April 1, 1960, may continue to do so if he or it otherwise complies
with the provisions of this chapter.
2. A person, partnership, corporation or limited-liability company
shall not engage in the practice of public accounting under any name
which is misleading as to:
(a) The legal form of the firm;
(b) The persons who are partners, officers, shareholders or
members; or
(c) Any other matter.
Ę The names of past partners, shareholders or members may be included in
the name of a firm or its successors.
(Added to NRS by 1960, 175; A 1971, 748; 1981, 1397; 1995, 1484)
1. The display or uttering by a person of a card, sign,
advertisement or other printed, engraved or written instrument or device,
bearing a person’s name in conjunction with the words “certified public
accountant” or any abbreviation thereof, or “public accountant” or any
abbreviation thereof, shall be prima facie evidence in any action brought
under NRS 628.570 or 628.580 that the person whose name is so displayed
caused or procured the display or uttering of such card, sign,
advertisement or other printed, engraved or written instrument or device,
and that such person is holding himself out to be a certified public
accountant or a public accountant holding a permit to practice under NRS
628.380 .
2. In any such action evidence of the commission of a single act
prohibited by this chapter shall be sufficient to justify an injunction
or a conviction without evidence of a general course of conduct.
(Added to NRS by 1960, 176)
Whenever in the judgment of the Board any person has engaged, or is
about to engage, in any acts or practices which constitute, or will
constitute, a violation of NRS 628.435
or 628.450 to 628.550 , inclusive, the Board may make application to
an appropriate court for an order enjoining the acts or practices, and
upon a showing by the Board that the person has engaged, or is about to
engage, in any of those acts or practices, an injunction, restraining
order or such order as may be appropriate must be granted by the court
without a bond.
(Added to NRS by 1960, 176; A 2005, 255 )
1. Any person who violates any provision of NRS 628.435 or 628.450
to 628.550 , inclusive, is guilty of a
misdemeanor.
2. Whenever the Board has reason to believe that any person is
liable to punishment under this section it may certify the facts to the
Attorney General or other appropriate enforcement officer, who may, in
his discretion, cause appropriate proceedings to be brought.
(Added to NRS by 1960, 176; A 1967, 640; 2005, 255 )
|
