Chapter 29 New Jersey State Board of Accountancy

1 PLEASE READ. Rules and regulations of the Division of Consumer Affairs, the boards and committees in, and other units of, the Division are codified in Title 13 of the New Jersey Administrative Code, published by LexisNexis. Notices of proposal and notices of adoption are printed in the New Jersey Register, also published by LexisNexis. The official text of the rules and regulations and their regulatory history and notices of rule proposals and adoptions can be found through the free LexisNexis Public Access Portal. LexisNexis Public Access Portal: The text of rules and regulations and notices of proposal and adoptions in PDF.

2 Format provided on this website by the Division of Consumer Affairs are unofficial courtesy copies, which may differ from the official text. Though every effort is made to ensure that the text of courtesy copies is identical to the official version, if any discrepancies exist between the text on this website and the official version, the official version will govern. NEW Jersey State Board OF Accountancy LAW AND PUBLIC SAFETY N E W J E R S E Y A D M I N I S T R AT I V E C O D E TITLE 13 LAW AN D P UBLIC S AFETY Chapter 29 N E W J E R S E Y S TAT E B O A R D O F A C C O U N TA N C Y Chapter 29 Page 1 of 52 Last Revision Date: 7/01/2017 NEW Jersey State Board OF Accountancy LAW AND PUBLIC SAFETY C H A P T E R TA B L E O F C O N T E N T S SUBCHAPTER 1.

3 GENERAL RULES .. 5 13:29 Establishing name of Board .. 5 13:29 Meetings .. 5 13:29 Notification of change of address; service of process .. 5 13:29 Filing constitutes agreement .. 5 13:29 Fees .. 6 13:29 Notification of convictions .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 13:29 (Reserved) .. 8 SUBCHAPTER 1A. EXAMINATION AND LICENSURE .. 8 13:29 Applications for examination; applicant qualifications .. 8 13:29 Examination.

4 9 13:29 Applications for examination; education and experience requirements .. 9 13:29 Granting of examination credit; reexamination; conditional credit .. 11 13:29 Credit towards licensure for education, training, and experience received while serving as a member of the Armed Forces .. 12 13:29 (Reserved) .. 14 13:29 Security and irregularities; cheating .. 14 13:29 Licensure by waiver of examination for applicants licensed in another jurisdiction; application procedures .. 15 13:29 Public School Accountant's license; renewal; suspended license; reinstatement; inactive status.

5 16 13:29 Licensee requirements; renewal; suspended license; reinstatement; inactive status .. 18 SUBCHAPTER 2 REGISTERED MUNICIPAL ACCOUNTANTS .. 20 13:29 Applications; requirements .. 20 13:29 Examination .. 20 13:29 Licensee requirements; renewal; suspended license; reinstatement; inactive status .. 21 Chapter 29 Page 2 of 52 Last Revision Date: 7/01/2017 NEW Jersey State Board OF Accountancy LAW AND PUBLIC SAFETY SUBCHAPTER 3. RULES OF PROFESSIONAL CONDUCT .. 23 13:29 Independence .. 23 13:29 Integrity and objectivity.

6 24 13:29 Competence .. 24 13:29 Forecasts .. 24 13:29 Auditing standards .. 24 13:29 Accounting principles .. 25 13:29 Confidential client information .. 25 13:29 Contingent 26 13:29 (Reserved) .. 27 13:29 Advertising .. 27 13:29 Solicitation .. 27 13:29 Commissions, performance fees and referral 28 13:29 (Reserved) .. 29 13:29 (Reserved) .. 29 13:29 Firm names .. 29 13:29 Records .. 29 13:29 (Reserved) .. 30 13:29 (Reserved) .. 30 13:29 Code of Professional Conduct .. 30 SUBCHAPTER 4. PRACTICE PRIVILEGE; INDIVIDUALS AND FIRMS WITHOUT A NEW Jersey OFFICE.

7 30 13:29 Individuals licensed in other states ; practice without a New Jersey license .. 30 13:29 Registration of firms located in other states .. 31 13:29 Definitions .. 32 SUBCHAPTER 5. PEER REVIEW PROGRAM .. 33 13:29 Purpose and 33 13:29 Definitions .. 33 13:29 Standards for peer reviews and sponsoring organizations .. 34 13:29 Enrollment and participation; exemptions .. 34 13:29 Effect of successive review ratings of pass with deficiencies or fail .. 36 13:29 Reporting to the Board .. 36 13:29 Peer Review Oversight Committee.

8 37 13:29 Procedures for a sponsoring organization .. 38 13:29 Confidentiality .. 38 SUBCHAPTER 6. CONTINUING PROFESSIONAL EDUCATION .. 39 13:29 Scope .. 39 Chapter 29 Page 3 of 52 Last Revision Date: 7/01/2017 NEW Jersey State Board OF Accountancy LAW AND PUBLIC SAFETY 13:29 Credit hour requirements .. 39 13:29 Qualifying technical subjects .. 40 13:29 New Jersey law and ethics course .. 41 13:29 Other qualifying subjects .. 41 13:29 Continuing professional education programs and other sources of continuing professional education credit.

9 42 13:29 Criteria for continuing professional education sponsors .. 45 13:29 Sponsor number exemptions .. 47 13:29 Credit hour calculations .. 48 13:29 Retention of continuing professional education records .. 48 13:29 Continuing professional education requirements; reciprocity .. 49 13:29 Responsibilities of program developers .. 49 13:29 Responsibilities of program sponsors .. 50 13:29 Sponsor's failure to comply with continuing education responsibilities .. 52 13:29 (Reserved) .. 52 Chapter 29 Page 4 of 52 Last Revision Date: 7/01/2017 NEW Jersey State Board OF Accountancy LAW AND PUBLIC SAFETY SUBCHAPTER 1.

10 GENERAL RULES. 13 ESTABLISHING NAME OF Board . The Board shall be known as the New Jersey State Board of Accountancy , and shall maintain an office in the State of New Jersey for the regular transaction of its business. 13 MEETINGS. a) The Board shall hold an annual meeting, in each year, in the month of April for the purpose of electing officers, from among its members, each for the term of one year, or until a qualified successor has been duly elected. b) Regular monthly meetings will be held in accordance with a published schedule of meetings.