CHAPTER Ac
100 ORGANIZATIONAL RULES
PART Ac 101
PURPOSE
Ac
101.01 Purpose and Scope.
(a) The rules of this title implement the
statutory responsibilities of the New Hampshire board of accountancy created by
(b) These provisions regulate
to but are not limited to the licensing of certified public accountants
and public accountants and the practice of accountancy in the state of New
Hampshire.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-l3-83; ss by 3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12
Ac 102.01 “Attest” means “attest” as defined in
RSA 309-B:3 I, namely, “providing the following services:
(a)
Any audit or other engagement to be performed in accordance with the
“American Institute of Certified Public Accountants’ Statements on Auditing
Standards” (SAS);
(b)
Any review of a financial statement to be performed in accordance with
the “American Institute of Certified Public Accountants’ Statements on
Standards for Accounting and Review Services (SSARS)”;
(c)
Any examination of prospective financial statements to be performed in
accordance with the “American Institute of Certified Public Accountants’
Statements on Standards for Attestation Engagements (SSAE)”;
(d)
Any engagement to be performed in accordance with the “Public Company
Accounting Oversight Board’s Auditing Standards”; and
(e)
Any examination, review, or agreed upon procedures engagement to be
performed in accordance with the “Statements on Standards for Attestation
Engagements” (SSAE), other than the examination described in subparagraph (c)
above.
Source. #13995, eff 8-9-24
Ac 102.02 "Board" means “board” as
defined in RSA 309-B:3 II, namely, “the
Source. #1663, eff 12-17-80; amd
by #1972, eff 2-28-82; ss by #2475, eff 9-13-83; ss by #3061, eff 7-18-85,
EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12; ss by #13995, eff 8-9-24
Ac 102.03 “Certified
Public Accountant (CPA)” means a
person holding a current certificate issued under
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 101.01)
Ac 102.04 “Chartered Accountant” means a person holding an accounting license
issued in
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 101.03)
Ac 102.05 “Client” means a person, persons or
entity which retains a practicing accountant or the firm of a practicing
accountant, which firm is engaged in the practice of public accountancy, for
the performance of professional accounting services.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 101.04)
Ac 102.06 “Code of Professional Conduct” means
the “Code of Professional Conduct” of the American Institute of Certified
Public Accountants (AICPA), December 15, 2014 edition,
including the interpretations.
Source. #5365, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98
New. #6901,
eff 12-4-98; ss by #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032, eff 11-21-07; ss by #10053, eff
1-1-12 (from Ac 101.05; ss
by #13995, eff 8-9-24 (formerly Ac 102.05)
Ac 102.07 “Contadores
Publicos Certificado” means a person holding a current accounting
license issued in
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 101.06); renumbered by #13995 (formerly Ac
102.06)
Ac 102.08 “CPA firm” means “CPA firm” as defined
by
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 101.07); renumbered by #13995 (formerly Ac
102.07)
Ac 102.09 “Financial Statement” means a document
and related footnotes that purports to represent actual or prospective
financial positions at a particular time, or results of operations, cash flow,
or changes in financial position for a period of time,
in conformity with generally accepted accounting principles or another
comprehensive basis of accounting.
Source. #10053,
eff 1-1-12 from Ac 101.08); renumbered by #13995 (formerly Ac
102.08)
Ac 102.10 “Firm” means any business entity,
however configured or organized, engaged in the practice of public
accountancy. The term includes
individuals and shareholders in any legally authorized entity engaged in the
practice of public accountancy.
Source. #10053,
eff 1-1-12 (from Ac 101.09); renumbered by #13995 (formerly Ac
102.09)
Ac 102.11 “License” means “license” as defined
by
Source. #10053
(eff 1-1-12) (from Ac 101.10); renumbered by #13995 (formerly Ac
102.10)
Ac 102.12 “Licensee” means “licensee” as defined
by
Source. #10053,
eff 1-1-12 (from Ac 101.11);
renumbered by #13995 (formerly Ac 102.11)
Ac 102.13 “Permit” means “permit” as defined in
Source. #10053,eff
1-1-12 (from Ac 101.12); renumbered by #13995 (formerly Ac
102.12)
Ac 102.14 “Public Accountancy” means the
provision of any service, the undertaking of any function, or the exercise of
any privilege for which a certificate, registration, or permit is required
pursuant to
Source. #10053,
eff 1-1-12 (from Ac 101.13); renumbered by #13995 (formerly Ac
102.13)
Ac 102.15 “Public Accountant (PA)” means a
licensee whose registration has been issued pursuant to
Source. #10053,
eff 1-1-12 (from Ac 101.14); renumbered by #13995 (formerly Ac 102.14)
Ac 102.16 “Public Accounting Experience” means
the performance of one or more kinds of services regulated under
Source. #10053,
(eff 1-1-12 (from Ac 101.15); renumbered by #13995 (formerly Ac 102.15)
Ac 102.17 “Public Accounting Firm (PA Firm)”
means a business entity in which at least a simple majority of the ownership of the firm, in
terms of financial interests and voting rights, holds a registration issued
under
(a)
A sole proprietor;
(b)
A corporation;
(c)
A partnership, including a limited liability partnership;
(d)
A limited liability company, including a professional limited liability
company; or
(e)
Any other kind of entity authorized or allowed by law.
Source. #1005,
eff 1-1-12 (from Ac 101.16); renumbered by #13995 (formerly Ac
102.16)
Ac 102.18 “Semester Hour” means the number of
hours which a class meets during a single semester, expressed on a per-credit
basis, as calculated by the institution offering the course.
Source. #10053,
eff 1-1-12 (from Ac 101.17); renumbered by #13995 (formerly Ac
102.17)
PART Ac 103 BOARD ORGANIZATION
Ac 103.01 Members and Officers. Pursuant to RSA 309-B:4, I(a) the board is
composed of a total of 7 members who are residents of
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 102.01); ss by #10700, eff 11-1-14
Ac 103.02 Organization. Every year, the board shall elect or appoint
a chairperson, vice-chairperson, and secretary at the first meeting of the
board in a calendar year.
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12
Ac 103.03 Meeting Location. Board meetings are held at the place
specified in the notice for the particular meeting.
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 102.04)
Ac 103.04 Presiding Officer. The board chairperson presides at board
meetings. In the absence of the
chairperson, the board vice-chairperson presides at meetings. In the absence of both the chairperson and
the vice-chairperson, the members present select, by consensus, any other
member to act as chairperson for that meeting.
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032,
eff 11-21-07; ss by #10053, eff 1-1-12 (from Ac 102.05)
Ac 103.05 Functions of the Board. The duties of the board include:
(a)
Adopting rules relative to:
(1) Peer reviews;
(2) Disciplinary matters;
(3) Qualifications of applicants;
(4) Ethical and professional standards;
(5) Presiding over hearings;
and
(6) Any other matters necessary for the proper
administration of
(b)
The adjudication of complaints against licensees; and
(c)
All other functions set forth in
Source. #6901, eff 12-4-98; ss by #8810,
INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9032, eff 11-21-07; ss by #10053, eff
1-1-12 (from Ac 102.07); ss by #13995, eff 8-9-24
Ac 103.06 Office Hours, Office Location, Mailing
Address and Telephone.
(a)
The board’s office is located at the office of professional licensure
and certification (OPLC), 7 Eagle Square,
(b)
Correspondence shall be addressed to the board of accountancy at:
Board
of Accountancy
c/o
Office of Professional Licensure
7
Eagle Square
Concord,
NH 03301
(c)
The board’s telephone number shall be (603)-271-2152.
Source. #10053,
eff 1-1-12; ss by #13995, eff
8-9-24
PART Ac 104 PUBLIC ACCESS TO INFORMATION
Ac 104.01 Public Access. In accordance with
Source. #10053,
eff 1-1-12 (from Ac 103.01)
Ac 104.02 Licensee Access to Information. Any licensee may examine all records of the
board with respect to him or herself, except as exempted by law, at the office
of the board, between the hours of 8:00 a.m. and 4 p.m. Monday through Friday.
Source. #10053,
eff 1-1-12 (from Ac 103.02)
Ac 104.03 Record of Board Actions. Minutes shall be kept of board meetings and
of official actions taken by the board. Minutes of board actions which are not
confidential under
Source. #10053,
eff 1-1-12
Ac 104.04 Requests for Information and Access to
Records. Requests for information
and access to board records shall be requested and processed in accordance with
Plc 103.
Source. #10053,
eff 1-1-12 (from Ac 103.03); ss by #13995, eff 8-9-24
Ac 104.05 Unavailability of Public Records. If the board is unable to make a governmental
public record available for immediate inspection and photocopying, then it
shall, within 5 business days of request:
(a)
Make such record available;
(b)
Deny the request in writing with reasons; or
(c)
Furnish written acknowledgment of receipt of the request and a statement
of the time reasonably necessary to determine whether the request will be
granted or denied.
Source. #10053,
eff 1-1-12 (from Ac 103.04)
Ac 105.01 Meetings. Regular meetings shall
be held at least 6 times per year, provided that there
is board business to be conducted.
Special meetings shall be called by order of the chairperson or
secretary. Each member of the board
shall be provided notice of each meeting
and such notice shall contain the place, date, time, and subject of the
meeting. Notice of meetings shall be
posted in accordance with RSA 91-A:2.
Source. #10053,
eff 1-1-12; ss by #13995, eff
-8-9-24
Ac 105.02 Quorum. A quorum of the board consists of a majority
of the board members then in office, pursuant to
Source. #10053,
eff 1-1-12
Ac 105.03 Tentative Decisions.
(a)
When necessary to conduct the board’s business in a timely and efficient
manner, the board shall instruct its staff or a committee of the board to
prepare a draft document, subject to subsequent review and approval by the
board. Such instructions shall be known as tentative decisions.
(b)
Tentative decisions shall not be final actions, and
shall not be binding upon the board. Changes in the form or the substance of a
tentative decision shall be made as often as necessary to produce a final
document, which satisfactorily sets forth the final result
the board intends to reach. The board’s final decision shall
be issued only when the necessary majority has voted
in favor of the final form of the proposed action, allowing time for printing
or servicing the document in question.
Source. #10053,
eff 1-1-12; renumbered by #13995
(formerly Ac 105.05)
PART Ac 106 APPOINTMENT OF COMMITTEES
Ac 106.01 Committees.
(a)
A committee shall consist of one or more of
board members who have been directed by the board to investigate and make
recommendations on matters which could be handled by the full board.
(b)
When expressly authorized by the board, the authority of a committee
shall include:
(1) The retention of voluntary assistance from
qualified non-board members; and
(2) The retention of paid advisors or consultants
pursuant to
Source. #10053,
eff 1-1-12
CHAPTER Ac 200 RULES OF
PRACTICE AND PROCEDURE
REVISION NOTE #1:
Document #9033, effective 11-20-07 and
#9051, effective 12-27-07, made extensive changes to the wording, format,
structure, and numbering of rules in Chapter Ac 200. Documents #9033 and #9051 superseded all
prior filings for the sections in this chapter.
The prior filings for former Chapter Ac 200 included the following
documents:
#1663, eff 12-17-80
#2475, eff 9-13-83
#3061, eff 7-18-85, EXPIRED 7-18-91
#5365, eff 3-27-92
#6721, INTERIM, eff 3-27-98, EXPIRED
7-25-98
#6902, eff 12-4-98, EXPIRED: 12-4-07
#8810, INTERIM, eff 1-25-07, EXPIRED:
7-25-07
The rules in Document #9033, which
included Ac 201-Ac 203, Ac 205-Ac 211, Ac 213, Ac 214.01-Ac 214.03 and Ac 215
governing practice and procedure, would not expire except pursuant to RSA
541-A:17, II.
The rules in Document #9051, which
included Ac 204, Ac 212, Ac 214.04, and Ac 214.05 and Ac 300 through Ac 500
governing procedural rules (8-year provisions); certification, registration and
permit requirements; continued status; and ethics, would have expired in 8 years from the effective date of
December 27, 2007 unless they were
amended, repealed or superseded before that. Ac 204, Ac 214.04, and Ac 214.05 were
subsequently superseded by Document #10701-A, effective 11-1-14, before they
would have expired, as indicated in Revision Note #2.
REVISION NOTE #2:
Document #13996, effective 8-9-24,
repealed Part Ac 201 through Part Ac 215 in Chapter Ac 200, titled “Practice
and Procedure”, and renamed the chapter as “Rules of Practice and
Procedure”. Document #13996 also adopted
a new Part Ac 201 titled “Applicability and Waiver of Substantive Rules”,
containing Ac 201.01 titled “Rules of Practice and Procedure” and Ac 201.02
titled “Waiver of Administrative Rules.”
Document #13996 replaces all prior filings affecting
the rules in the former Chapter Ac 200.
The prior filings since Document #9051, effective 12-27-07, included the
following documents. Italics indicate
the rules were subject to expiration only pursuant to RSA 541-A:17, II:
#10701-A, eff 11-1-14 (Ac 204,
Ac 214.04, and Ac 214.05 only)
#10701-B, eff 11-1-14 (Ac 212 only)
As practice and procedure rules, the rules in Document
#13996 will not expire except pursuant to RSA 541-A:17, II.
PART Ac 201
APPLICABILITY AND WAIVER OF SUBSTANTIVE RULES
Ac 201.01
Applicability of Plc 200.
The Plc 200 rules shall govern the board of
accountancy with regard to all procedures for:
(a)
Adjudicatory proceedings;
(b)
Rulemaking submissions, considerations, and disposition of rulemaking
petitions;
(c)
Public comment hearings;
(d)
Declaratory rulings;
(e)
All statements of policy and interpretation;
(f)
Explanation of adopted rules; and
(g)
Voluntary surrender of licenses.
Source. (See Revision Note #1 and Revision Note #2 at
chapter heading for Ac 200) #13996, eff
8-9-24
Ac 201.02 Waiver of Administrative Rules.
(a)
The board shall initiate a waiver of a substantive rule upon its own
motion by providing affected parties with notice and opportunity to be heard, and issuing an order which finds that waiver would be
necessary to advance the purpose of the rules of the board.
(b)
Individuals who wish to request a waiver of a rule shall submit a
written request to the board, which includes:
(1) The rule for which a waiver is requested;
(2) The anticipated length of time the requested
waiver will be needed;
(3) The reason for requesting the waiver;
(4) Evidence of how the waiver will provide for
the health and safety of the consumer or licensee;
(5) A time-limited written compliance plan which
sets forth plans to achieve compliance including an estimated date of
compliance; and
(6) The signature of the applicant.
(c)
The board shall consider the following when determining whether to
approve or deny a waiver:
(1) If adherence to the rule would cause the
petitioner unnecessary or undue hardship;
(2) If the requested waiver is necessary because
of any neglect or misfeasance on the part of the practitioner;
(3) If enforcement of the rule would injure a
third person(s); and
(4) If waiver of the rule would injure a third
person(s).
(d)
The board shall approve a waiver of an administrative rule request only
if:
(1) Granting a waiver does not have the effect of
waiving or modifying a provision of RSA 309-B:1 through RSA 309-B:21;
(2) The petitioner has shown good cause exists,
as described in (c) above, to waive the rule; and
(3) The board determines that the individual’s
plans for compliance with the rule includes an
estimated date of compliance and eventual compliance.
(e)
If the board, after receiving and reviewing a request for a waiver,
requires further information or documentation to grant or deny the waiver, the
board shall:
(1) Notify the applicant in writing within 30
days; and
(2) Specify the information or documentation the
board requires.
(f)
The board shall issue a written approval or denial of the waiver within
60 days of the date the request is received, unless additional information or
documentation is required. If additional
information and documentation is required, then the board shall issue a written
approval or denial within 60 days of receiving the requested information or
documentation.
Source. (See
Revision Note #1 and Revision Note #2 at chapter heading for Ac 200) #13996, eff 8-9-24
CHAPTER Ac
300 CERTIFICATION, REGISTRATION, AND
PERMIT REQUIREMENTS
REVISION NOTE:
Document #14399, effective 12-5-25,
adopted, readopted with amendment, or repealed all of
the rules in Chapter Ac 300 titled “Certification, Registration, and Permit
Requirements.” These actions
necessitated extensive renumbering of the remaining, existing
rules as indicated in the source notes.
Document #14399 replaces all prior filings affecting the former rules in
Chapter Ac 300.
The repealed rules are indicated
below, with their former part and section numbers.
PART Ac 301 APPLICATION PROCEDURE: Ac 301.04 titled
“Application for Initial Certification as CPA Form”, Ac 301.06 titled
“Character Reference Form”, Ac 301.07 titled “Public Accounting Experience
Verification Form”, Ac 301.08 titled
“Governmental Accounting Experience Verification Form”, Ac 301.09 titled “Authorization for Interstate Exchange
of Information Form”, Ac 301.13 titled “Fees”,
and Ac 301.14 titled “License Issuance
and Expiration”.
PART Ac 302 QUALIFICATIONS: Ac
302.05 titled “Character”, and Ac 302.06 titled “CPA Certificate Applicant
Personal Appearance”.
PART Ac 303 EXAMINATION: Ac 303.01 titled “Scope”, Ac
303.03 titled “CPA Examination Subjects”, Ac 303.04 titled “Conduct During CPA
Examination”, Ac 303.05 titled “International Qualifications Examination (IQEX)
Required”, Ac 303.06 titled “IQEX Subjects”, and Ac 303.07 titled “Conduct
During IQEX”.
PART Ac 304 RECIPROCITY: Ac 304.02 titled “Domestic
Substantial Equivalency”, Ac 304.03 titled “Domestic Reciprocity CPA
Certificate Applicant Education”, Ac 304.04 titled “Domestic Reciprocity CPA
Applicant Accounting Experience”, Ac 304.05 titled “International Reciprocity”,
Ac 304.06 titled “Character”, and Ac 304.07
“CPA Applicant Personal Appearance”.
PART Ac 305 CREDENTIALS: Ac 305.01 titled “License” and
Ac 305.02 titled “Pocket Cards”
The prior filings for all of Ac 300
include the following documents:
#1663, eff
12-17-80
#1972, eff 2-28-82
#2475, eff 9-13-83
#3061, eff
7-18-85, EXPIRED: 7-18-91
#4610, eff 5-10-89
#5365, eff 3-27-92
#5586, eff 2-22-93
#5820, eff 5-3-94
#6721, INTERIM,
eff 3-27-98, EXPIRED: 7-25-98
#6903, eff
12-4-98, EXPIRED: 12-4-06
#8810, INTERIM,
eff 1-25-07, EXPIRED: 7-25-07
#9051, eff
12-27-07
#10054, eff 1-1-12
#10373, eff 7-2-13
#10746, eff 1-1-15
#12991, eff
2-21-20
PART Ac 301 DEFINITIONS
Ac
301.01 Definitions.
(a)
“Attest” means “attest”
as defined in RSA 309-B:3, I(a), namely “ providing the following
services:
(1) Any audit or other engagement to be performed
in accordance with the American Institute of Certified Public Accountants’
Statements on Auditing Standards (SAS).
(2) Any review of a financial statement to be
performed in accordance with the American Institute of Certified Public
Accountants’ Statements on Standards for Accounting and Review Services
(SSARS).
(3) Any examination of prospective financial
statements to be performed in accordance with the American Institute of
Certified Public Accountants’ Statements on Standards for Attestation
Engagements (SSAE).
(4) Any engagement to be performed in accordance
with the Public Company Accounting Oversight Board's Auditing Standards.
(5) Any examination, review, or agreed upon
procedures engagement to be performed in accordance with the Statements on
Standards for Attestation Engagements (SSAE), other than the examination
described in subparagraph (a)(3).”
(b)
“Assurance” is the process of evaluating and verifying the financial
records, accounting entries, and financial statements as provided by the
client. The term assurance
includes “attest.”
(c)
“Dishonest act” means any course of conduct involving intentional
deception by the applicant, whether in the course of employment or as private
conduct, and includes a violation or violations of any professional code of
ethics or conduct to which the applicant is required to adhere, provided such
violation relates to an intentional act.
(d) “Good character”
means “good character” as defined in RSA 309-B:5, II, namely, “the lack of a
history of dishonest or felonious acts.”
(e) “History of
dishonest or felonious acts” means:
(1) Conviction at any time of a felony that has
not been annulled by a court of competent jurisdiction;
(2) Conviction within the year immediately
preceding the application of any criminal offense whether felony, or
misdemeanor involving a dishonest act that has not been annulled by a court of
competent jurisdiction;
(3) Conviction within the 5
years immediately preceding the application of 2 criminal offenses, whether
felony or misdemeanors, or both, involving dishonest acts that have not been
annulled by a court of competent jurisdiction; or
(4) Conviction within the 10 years immediately
preceding the application of, in the aggregate, 3 or more criminal offenses,
whether felony or misdemeanor, or a combination thereof, involving dishonest
acts.
Source. #14399, eff
12-5-25, EXPIRES: 12-5-35
PART Ac 302 APPLICATION PROCEDURE
Ac
302.01 Purpose. The purpose of this part is to describe the
requirements for application to the Office of Professional Licensure and
Certification (OPLC), either for a certificate to practice as a Certified
Public Accountant (CPA) in the state of New Hampshire (NH), or for the
registration of a firm to engage in an accounting business in NH.
Source. #14399, eff
12-5-25, EXPIRES: 12-5-35 (formerly Ac 301.01)
Ac
302.02 CPA Certification Process
Requirements. Each person seeking a
NH certificate to practice as a Certified Public Accountant (CPA) shall:
(a) Meet the education requirements set forth in
RSA 309-B:5, III, and in Ac 303.02 prior to taking the applicable CPA exam;
(b) Meet the aggregate experience requirements
set forth in RSA 309-B:5, IX or X, or a combination of both provided that the
minimum amount of experience is documented, as required by Ac 303.04; and
(c) For an initial certification, each applicant
shall submit an application package to the NASBA that
includes:
(1) A completed “Universal Application For
Initial License” as required by Plc 304.01(a)(1);
(2) A completed “CPA Addendum to the Universal
Application for Initial Licensure” described in Ac 302.03(b)(2); and
(3) The initial application fee required by Plc
1002.01.
Source. #14399, eff 12-5-25,
EXPIRES: 12-5-35 (formerly Ac 301.02)
Ac
302.03 Requirements for Forms and
Other Submissions.
(a) All forms and other documents submitted to
the NASBA pursuant to Ac 300 shall be written in English unless the original
document is in another language, in which case a copy of the document in its
original language shall be accompanied by a translation that has been attested
to by the person who translated the document as being accurate and complete.
(b)
The following forms shall be submitted to the NASBA as required by Plc
301.02(c):
(1) The “Universal Application for Initial
License” required by Plc 304.01(a)(1);
(2) The “CPA Addendum to the Universal
Application for Initial License” revised 10/2025 requiring:
a chronological summary of the applicant’s
public and governmental accounting experience as
required by RSA 309-B:5, IX - X, that includes:
a.
The applicant’s position title;
b.
The beginning and ending dates of such
employment;
c.
The name of the employer; and
d.
The city and state of the employer; and
(3) The fee required by Plc 1002.01.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 301.03)
Ac
302.04 Application for Certification
as CPA Through Endorsement. Each
applicant for certification as a CPA, who is licensed in another jurisdiction with
substantially similar licensing requirements as this state as required by Plc
313.13 shall apply directly to
the NASBA as
described in Plc 301.02(c).
Source. #14399, eff 12-5-25,
EXPIRES: 12-5-35 (formerly Ac 301.05)
Ac
302.05 CPA Firm Permit Requirements.
(a) A CPA firm permit to practice is required for
all CPA firms wishing to do business in NH.
(b) Each CPA firm seeking a permit to practice as
a CPA firm in NH that provides assurance services or compilation services for a client
having its home office in NH shall:
(1) Demonstrate compliance with the ownership
requirements set forth in RSA 309-B:8, III(a);
(2) Demonstrate that any individual CPA who is
responsible for supervising assurance services or authorizes someone to sign the
accountant’s report on the financial statements on behalf of the firm, meets
the experience requirements set forth in RSA 309-B:8, III(c);
(3) Submit a fully completed “Universal
Application for Initial License” as required by Plc 304.01(a)(1);
(4) Submit an “Affidavit for Peer Review” revised
10/2025, if required pursuant to Ac 302.07;
(5) Submit a copy of the most recent peer review
acceptance letter, if the CPA firm has been issuing reports for 3 or more
years, as required pursuant to Ac 302.07; and
(6) Submit the application fee required by Plc
1002.01.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 301.10)
Ac
302.06 CPA Firm Permit Application. Each CPA firm seeking a permit to practice as
a CPA firm in NH that provides assurance services or compilation services shall complete
and submit to the OPLC the “CPA Firm Permit Application” requiring the
following information:
(a) The complete name of the CPA firm;
(b) The telephone number and business address of
the CPA firm and contact information, including:
(1) Street and number;
(2) City;
(3) State;
(4) Zip code;
(5) Contact person; and
(6) Contact person’s
e-mail address;
(c) An indication of the type of practice by
selecting one of the following:
(1) Certified Public Accountant(s);
(2) Public Accountant(s);
(3) Both CPA and PA; and
(4) CPA or PA with non-licensee owners;
(d) A list of all partners, shareholders, or
owners, including non-licensee owners on firm letterhead, that specifies:
(1) Each such person’s name, home address, and
home or cell phone number, person’s business address and business telephone
number; and
(3) A description of each person’s ownership
interest, including percentage of ownership;
(e) A list of all licensees who work in NH for
the CPA firm, that specifies:
(1) Each such licensee’s name;
(2) Each such licensee’s
NH certificate number; and
(3) Each such NH licensee’s certificate
expiration date;
(f) A list of every state in which the CPA firm
has applied for or holds a permit to practice as a CPA firm;
(g) A list of every past denial, revocation,
suspension, or other disciplinary action taken against the CPA firm’s permit to
practice in any state;
(h) Identification of the individual or
individuals who will be in charge of attest services
rendered in NH, including each licensee’s:
(1) Full name;
(2) Business address, business telephone number
and e-mail address; and
(3) NH certification number and certification
expiration date;
(i) The type of
entity, including but not limited to:
(1) Professional corporation;
(2) Partnership;
(3) Limited liability company; or
(4) Professional limited liability company;
(j) A copy of the most recent peer review
acceptance letter, if the CPA firm has issued reports for 3 or more years;
(k) A statement indicating whether the
application is an initial or a renewal;
(l) The affidavit described in Ac 302.07(b);
(m) The fee specified Plc 1002.01;
(n) A certification signed by an authorized
representative of the firm indicating that the application is true and correct
to the best of the representative’s knowledge and belief;
(o) Acknowledgment that the provision of false
information is a basis for disciplinary action by the board; and
(p) A certification that at least a simple
majority of the ownership of the firm is in accordance with RSA 309-B:8,
III(a).
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 301.11)
Ac
302.07 Affidavit for Peer Review.
(a) Each CPA firm
seeking a permit to practice as a CPA firm in NH shall submit an affidavit
regarding peer review that complies with this section.
(b)
The applicant shall complete and submit the “Affidavit for Peer Review”
revised 10/2025 requiring the
following information:
(1) If the CPA firm does not issue reports, a statement indicating that the CPA firm does not issue reports and is
exempt from the peer review requirement, and that the firm
will:
a. Notify the board within 30 days of issuing
their first report;
b. Enroll in an approved practice-monitoring
program; and
c. Complete a peer review within 18 months of
the year-end of the first report issued;
(2) If the CPA
firm has issued its first report less than 18 months prior to the date of the
affidavit, a statement indicating that the CPA firm has issued its first report less than 18 months prior to
the date of the affidavit and the year-end date on
such engagement;
(3) If the CPA firm issues reports
and has received a peer review report with a rating of pass, a statement
indicating that the CPA firm has had a peer review report with the rating of
pass and when the next peer review is due; and
(4) If the CPA firm issues reports and has
received a peer review report of pass with deficiency or deficiencies or fail
reporting rating, the CPA firm shall submit a statement indicating that the CPA
firm is currently taking the necessary steps to correct the deficiency or
deficiencies outlined
in the reviewer’s report and the date that the CPA firm shall notify the board and submit
a copy of the final completion letter. If the firm
receives an "Accept-provide-that" letter with corrective action(s) to
complete, the CPA firm will notify the board and submit a copy of the final
completion letter from the administering entity upon receipt.
(c) Each affidavit
submitted pursuant to this section shall:
(1) Include the printed name of the authorized
representative of the CPA firm;
(2) Be signed by the authorized representative,
attesting to the accuracy and truthfulness of the affidavit; and
(3) Include the date the authorized
representative signed the affidavit attesting to its accuracy and truthfulness.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 301.12)
Ac
302.08 Denial of Application. An applicant who
has been denied a license shall be provided an opportunity for an
administrative hearing before the board in accordance with the requirements of
Plc 200.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
PART Ac 303 QUALIFICATIONS
Ac 303.01 Initial CPA Applicant Qualifications. To be granted initial
certification, CPA applicants shall meet or exceed the minimum qualifications
relative to:
(a) Education as set
forth in RSA 309-B:5, III, and Ac 303.02;
(b) Experience as set
forth in RSA 309-B:5, IX or X, and Ac 303.04;
(c) Examination as
set forth in RSA 309-B:5, IV through VI, and Ac 304.02; and
(d) Good character as
set forth in RSA 309-B:5, II.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 302.01)
Ac 303.02 CPA
Certificate Applicant Education Requirements.
(a) Each applicant
for certification as a CPA shall have met at least one of the following
educational requirements in effect in NH, at the time the applicant successfully
completed the exam, as follows:
(1) For those applicants who successfully
completed the exam before January 1, 2005:
a. At least a baccalaureate degree from an
educational institution accredited pursuant to Ac 303.02(b);
b. At least 24 semester hours in business; and
c. At least 12 semester hours in accounting;
(2) For those applicants who successfully
completed the exam on or after January 1, 2005:
a. At least a baccalaureate degree from an
educational institution accredited pursuant to Ac 303.02(b);
b. At least 120 semester hours of education;
c. At least 24 semester hours in business; and
d. At least 12 semester hours in accounting; or
(3) For those applicants who successfully
completed the exam on or after July 1, 2014:
a. At least a baccalaureate degree that includes
at least 150
hours pursuant to Ac 303.02(f) from an educational institution accredited
pursuant to Ac 303.02(b);
b. At least 30 semester hours of education
meeting the criteria in Ac 303.02;
c. The total required semester hours of
education consisting of not less than 30 hours in accounting and 24 hours in
business courses accredited pursuant to 303.02(b).
(b) An educational
institution shall be considered by the OPLC to be accredited if:
(1) Approved by a member of a regional or
national accrediting agency that is recognized by the United States Department
of Education; or
(2) Approved by the “American Assembly
of Collegiate Schools” (AACSB).
(c) A candidate shall
be considered as having graduated from an accredited educational institution
if, at the time the educational institution granted the applicant's degree, it
was accredited pursuant to (b) above.
(d)
If the educational institution was not accredited at the time the
applicant's degree was received, but was accredited at the time the application
is filed with the OPLC, the institution shall be deemed to be accredited
provided that the educational institution:
(1) Certifies that the applicant’s total
educational program would qualify the applicant for graduation with a
baccalaureate degree during the time the institution has been accredited; and
(2) Furnishes the OPLC with college catalogue
course numbers and descriptions that demonstrate that the pre-accreditation
courses are substantively equivalent to their analogous post-accreditation
courses.
(e) If an applicant's
degree was received at an accredited educational institution, but contained
course work taken at a non-accredited institution, such courses shall be deemed
to have been taken at the accredited educational institution from which
applicant's degree was received, provided the accredited educational
institution either:
(1) Has accepted such courses by including them
in its official transcript; or
(2) Has certified to the OPLC that it will accept
such courses for credit toward graduation.
(f) A graduate of a
4-year degree-granting educational institution not accredited at the time
applicant’s degree was received or at the time the application was filed shall
be deemed by the OPLC to be a graduate of an accredited educational institution
if all of the
following are true:
(1) A credentials evaluation service approved by
the OPLC certifies that the applicant's degree is equivalent to a degree from
an accredited educational institution;
(2) An accredited educational institution has
accepted the applicant’s non-accredited baccalaureate degree for admission to a
graduate business degree program; and
(3) The applicant has satisfactorily completed at
least
150 semester hours, including at least 24 semester
hours of business of which 12 shall be in accounting from the baccalaureate or
post baccalaureate education.
(g) The OPLC shall
deny an application for initial certification if the OPLC determines by a
preponderance of the evidence that the applicant has not met the education
requirements set forth in RSA 309-B:5, III, and this section.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 302.02)
Ac 303.03 Educational
Qualifications for CPA Examination.
Pursuant to RSA 309-B:5, III (c) on or after July 1, 2014 applicants for the CPA
examination required pursuant to RSA 310-B:5 and Ac 304 shall have at least 120
semester hours of college education and include a
baccalaureate degree conferred by a college or university accredited pursuant
to Ac 303.02(b).
The 150 semester hours of college
education shall:
(a) Include at least
30 semester hours of accounting courses which shall include coverage in
financial accounting auditing, taxation, and management accounting; and
(b) Include at least
24 semester hours of business courses other than accounting courses which includes business law, business information systems,
finance, professional ethics, business organizations, and economics.
Source. #14399, eff
12-5-25, EXPIRES: 12-5-35 (formerly Ac 302.03)
Ac
303.04 CPA Certificate Applicant
Accounting Experience.
(a) Definition:
(1) “Accounting or auditing skills” means the
provision of:
a. One or more of the following public
accounting services, as specified by RSA 309-B:5, IX, namely:
i. Assurance services;
ii. Management advisory services;
iii. Financial advisory services;
iv. Consulting services;
v. Preparation of tax returns; or
vi. Furnishing tax advice; or
b. One or more of the following government
accounting services, as specified by RSA 309-B:5, X(a) through (c), namely:
i. Auditing the tax returns or books and
accounts of nongovernmental entities in 3 or more distinct lines of commercial
or industrial business in accordance with generally accepted auditing
standards;
ii. Auditing the books and accounts or activities
of 3 or more governmental agencies or distinct organizational units in
accordance with generally accepted auditing standards and reporting on their
operations to a third party, to the Congress, or to a state legislature; or
iii. Reviewing financial statements and supporting
material covering the financial condition and operations of nongovernmental
entities engaged in 3 or more distinct lines of commercial or industrial
business under the supervision of a licensee to
determine the reliability and fairness of the financial reporting and
compliance with generally accepted accounting principles and applicable
government regulations for the protection of investors and consumers.
(b) Pursuant to RSA 309-B:5, IX, each applicant
submitting an “Universal Application For Initial License” for certification as
a CPA shall meet the following general experience requirements:
(1) Such experience shall be earned prior to the
date that the candidate applies for certification in NH; and
(2) Compliance with one of the following:
a. A minimum of 2 years’ experience in
accounting for an applicant with a baccalaureate degree; or
b. A minimum of one years’ experience in
accounting for an applicant with a master’s degree in:
1. Accounting;
2. Taxation;
3. Finance; or
4. Business administration; and
c. A minimum of one year’s experience in
accounting for an applicant on or after July 1, 2014 that meets the
educational requirements of Ac 303.02(4) and RSA 309-B-5.
(c) For full-time accounting employees, each
year’s experience shall consist of 12 calendar months as an employee under the
supervision of
a licensed CPA, CA, CPC, or other equivalent foreign designation holder, and
shall include at least 1,500 hours of service solely involving the use of
accounting or auditing skills, as defined in Ac 303.04(a)(1)a.
(d) For non-full time accounting employees 2,080
hours of accounting practice under the supervision of a licensed CPA, CA, CPC,
or other equivalent foreign designation holder shall be completed within 6
years immediately preceding the submission of the application, and shall
include at least 1,500 hours of services solely involving accounting or
auditing skills, as defined in Ac 303.04(a)(1)a.
(e) For purposes of (c) and (d) above, no
experience shall be counted as being under the supervision of a
licensed CPA, CA, CPC, or other equivalent foreign designation holder unless
such licensee has the authority to review, direct, and evaluate on a continuing basis
the accounting activities of those who are under the supervision of a licensed CPA, CA, CPC, or
other equivalent foreign designation holder.
(f) The applicant shall demonstrate that the
minimum required experience in accounting has been fulfilled
by the submission of the required documents.
(g) The OPLC shall make decisions on applications
as required by Plc 304.09.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 302.04)
Ac 303.05 CPA
Firms.
(a) A CPA firm shall
be granted a permit to practice as a CPA firm in NH if the applicant CPA firm
meets the requirements of this section.
(b) The applicant CPA
firm shall file with the OPLC a “CPA Firm Permit Application” as described in
Ac 302.06 and any supporting data, documents, or information, required pursuant
to Ac 302.05
through Ac 302.07. Such documentation shall demonstrate that the firm meets all
statutory and rule requirements without demonstrating that any basis for denial
of the permit exists.
(c) The applicant CPA
firm shall demonstrate, pursuant to RSA 309-B:8, I,
that it has or will have a physical presence in NH by a date certain specified
by the applicant CPA firm. Each CPA
firm’s primary office doing business in NH shall be registered with the OPLC.
(d)
If the applicant CPA firm specifies a date by which it will have
a physical presence in NH, pursuant to (c) above, the permit shall become
effective on the date of issuance of the permit or the date that the applicant
specifies that it will have a physical presence in NH, whichever is later.
(e) The applicant CPA
firm shall demonstrate that at least a simple majority of the ownership of the
firm belongs to those who are certified in NH.
(f) The applicant CPA
firm shall demonstrate that any individual CPA who is responsible for
supervising attest services or authorizes someone to sign the accountant's
report on the financial statements on behalf of the firm, meets the experience
requirements set forth in RSA 309-B:8, III(c).
(g) The applicant CPA
firm shall demonstrate, through the peer review affidavit required pursuant to
Ac 302.07,
that it is in compliance with any applicable provision
of Ac 405 relative to peer review.
(h) The applicant CPA
firm shall submit a copy of the most recent peer review letter obtained in
compliance with Ac 405.02, if the CPA firm has been issuing reports for 3 or
more years. If the letter indicates that
the CPA firm has received an unqualified peer review report, the CPA firm shall
be determined by the OPLC to be in compliance with Ac
405.
(i) If the applicant CPA firm has received an
adverse or qualified peer review report, the affidavit required pursuant to (g)
above shall indicate that fact as well as the date by which the CPA firm
expects to be able to submit to the OPLC an unqualified peer review report
after taking the steps necessary to address the bases of the adverse or
qualified peer review report. The OPLC
shall issue a conditional permit that shall remain in effect for 2 years, or
until the CPA firm timely submitting the subsequent unqualified peer review
letter. However, no conditional permit shall remain in effect for longer than 2
years.
(j) The applicant CPA
firm shall submit the application fee required by Plc 1002.01.
(k) Applications shall
be reviewed as required by Plc 304.06 and Plc 304.08.
Source. #14399, eff 12-5-25,
EXPIRES: 12-5-35 (formerly Ac 302.07)
PART Ac 304 EXAMINATION
Ac 304.01 CPA Examination Required.
(a) Every applicant
for examination for initial certification as a CPA shall take and pass, with a
grade of 75 or above, each section of the Uniform Certified Public Accountant
Examination and Advisory Grading Service (examination) of the American
Institute of Certified Public Accountants (AICPA) as specified by RSA 309-B:5,
IV. The examination shall be
administered by the NASBA.
(b) Pursuant to RSA
309-B:5, V, the applicant examinee shall be required
to pass all sections of the examination within a 30 month
period within the date that their first score was released by the NASBA.
(c) Pursuant to RSA
309-B:5, V, no section passed more than 30 months prior to an applicant
examinee receiving notification of passing the remaining sections shall be
recognized for the purpose of determining (a) and (b).
(d) Applicants seeking
a waiver of the 30-month limitation shall submit a petition for waiver
as required by Plc 211.03 through Plc 211.05 to explain the circumstances
that are
beyond the control of the applicant that have rendered them unable to meet the
requirements for passing all sections of the examination within the 30-month
period.
(e) To arrange to sit
for the examination, each applicant shall contact the NASBA directly as required by
Plc 301.02(c) and Plc 303.03.
Source.
#14399, eff 12-5-25, EXPIRES: 12-5-35 (formerly Ac 303.02)
PART Ac 305 ENDORSEMENT
Ac
305.01 Endorsement CPA
Certificate Applicant Qualifications.
To be granted certification through reciprocity, applicants shall comply
with Plc 313.13.
Source. #14399, eff 12-5-25, EXPIRES: 12-5-35
(formerly Ac 304.01)
CHAPTER Ac
400 CONTINUED STATUS
REVISION NOTE:
Document #14322, effective 9-15-25,
adopted, readopted, readopted with amendment, or repealed all
of the rules in Chapter Ac 400 titled “Continued Status.” Document #14322 also deleted the number Ac
404.04 which had previously been reserved after rule Ac 404.04 titled “Claims
Against Licensees” had been repealed by Document #10054, effective 1-1-12. Document #14322 replaces all prior filings
affecting the former rules in Chapter Ac 400.
The following rules were repealed by
Document #14322:
Ac 401.08 titled “Voluntary
Surrender by Licensees”
Ac 402.03 titled “Revocation”
Ac 402.04 titled “License
Suspension”
Ac 402.05 titled “Primary
Sanctions”
Ac 402.07 titled “Procedures
for Assessing and Collecting Fines”
All but Ac 402.07 were
replaced by new rules as indicated in the source notes.
The prior filing affecting the
repealed Ac 401.08 and Ac 402.07 included the following document:
#10746, eff 1-1-15
The prior filings affecting the
repealed Ac 402.03 included the following documents:
#9051, eff 12-27-07
#10746, eff 1-1-15
The prior filing affecting the
repealed Ac 402.04 included the following document:
#10746, eff 1-1-15 (from Ac
402.02)
The prior filing affecting the
repealed Ac 402.05 included the following document:
#10746, eff 1-1-15 (from Ac
402.03)
The prior filings affecting the
previously repealed Ac 404.04 included the following documents:
#6904, eff 12-4-98, EXPIRED: 12-4-06
#8810, INTERIM, eff 1-25-07, EXPIRED:
7-25-07
#9051, eff 12-27-07
PART Ac 401 RENEWAL
Ac 401.01 Renewal Process.
(a) Applications for
renewal of a certificate, registration, or permit shall be processed in
accordance with Plc 308.09 through Plc 308.12.
(b) For biennial
renewal of a CPA certificate or for a PA registration, the applicant shall
submit the following:
(1) A completed and signed “Universal Application
for License Renewal” required by Plc 308.05(b)(1);
(2) A completed “CPA Certification and PA
Registration Addendum to the Universal Application for License Renewal”
required by Ac 401.04”;
(3) On a separate sheet, a detailed report of the
relevant circumstances, if any, of the answers to the “yes-no” questions on the
application which are in the affirmative and include relevant supporting
documents;
(4) A resume or curriculum vitae showing a
chronological summary of the applicant’s public, industry, government, and
academic accounting experience since the license lapsed that includes:
a. The applicant’s position title;
b. The beginning and ending
dates of such employment;
c. The name of the employer; and
d. The city and state of the employer; and
(5) The renewal fee required by Plc 1002.01.
(c) For biennial
renewal of a firm permit, the applicant shall submit the following:
(1) A completed and signed “Universal Application
for License Renewal” required by Plc 308.05(b)(1);
(2) A completed “CPA or PA Firm Addendum to the
Universal Application For License Renewal”;
(3) On a separate sheet, a detailed report of the
relevant circumstances, if any, of the answers to the “yes-no” questions on the
application which are in the affirmative and include relevant supporting
documents;
(4) Documentation of peer review, if required
pursuant to Ac 405; and
(5) The renewal fee required by Plc 1002.01.
Source. #1663, eff 12-17-80; ss by #1972, eff
2-28-82; ss by #2475, eff 9-13-83; ss by #3061, eff 7-18-85, EXPIRED:
7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac
401.02 General Requirements for
Renewal Documentation. All forms and other documents submitted to the OPLC as part
of an application for renewal shall be in English unless the original document
is in another language, in which case a copy of the document in its original
language shall be accompanied by a translation that has been attested to by the
person who translated the document as being accurate and complete.
Source. #1972, eff 2-28-82; ss by #2475, eff 9-13-83;
ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac 401.03 Certificate, Registration, and Permit
Expiration.
(a) Each CPA
certificate shall expire 2 years from the day the license was issued. No person
shall hold themselves out as a CPA to the public in New Hampshire without a
valid New Hampshire certificate.
(b) Each PA
registration shall expire 2 years from the day the license was issued. No
person shall hold themselves out as a PA to the public in New Hampshire,
without a valid New Hampshire registration.
(c) Each firm permit
shall expire 2 years from the day the license was
issued. No firm shall hold itself out as an accounting firm to the public in
New Hampshire without a valid New Hampshire permit.
Source. #6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac 401.04 Renewal Forms.
(a) The individual applying for CPA certification
or PA registration renewal shall complete and submit:
(1) The “Universal Application for License
Renewal” as required by Plc 308.05(b)(1); and
(2) The “CPA Certification or PA Registration
Addendum to the Universal Application for Renewal” by providing the following
information:
a. A list of all names the applicant has ever
been known by;
b. A yes or no answer to “I
have met the continuing professional education described in Ac 403.”; and
c.
A yes or no answer to the question “I have
included with the application a resume or curriculum vitae showing a
chronological summary of the applicant’s public, industry, government, and
academic accounting experience since the license lapsed that includes:
1. The applicant’s position title;
2. The beginning and ending
dates of such employment;
3. The name of the employer; and
4. The city and state of the employer.
(b) A CPA firm shall complete and submit:
a. The “Universal Application for License
Renewal” required by Plc 308.05(b)(1); and
b. The “CPA or PA Firm Addendum to the Universal
Application for License Renewal” by providing the following:
1. A yes or no answer to the question “Have you
used the full CPA designation as opposed to the “CPA Inactive” designation,
since becoming inactive?”; and
2. A yes or no answer
to the question “I have submitted with this application
documentation of peer review, if required pursuant to Ac 405?”.
Source. #6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; amd by #10054, eff
1-1-12; ss by #10746, eff 1-1-15; ss by #14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 401.05 Documentation of Completion of Continuing
Professional Education.
Documentation acceptable to the board relative to
Source. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 401.06 Inactive Status Designation.
(a) A CPA or PA who
does not intend to practice accounting but who, at a later
date, intends to re-enter practice, shall apply to the OPLC for
permission to enter inactive status. If inactive status is granted pursuant to
(f) below, the individual shall only use CPA or PA designation if the full word
“Inactive” appears immediately after the letter “A” or word “accountant” in
their title.
(b) A CPA or PA
seeking permission to use the inactive status designation shall complete and
submit the “Universal Application for Initial License” required by Plc
304.01(a)(1).
(c) A CPA or PA
seeking permission to use the inactive status designation shall complete and
submit the “Inactive Status Addendum to the Universal Application for Initial
Licensure” by providing the following:
(1) An answer of yes or no to the statement “I do not intend to practice public accounting during the
next 2 years”;
(2) An answer of yes or no to the statement “I shall not hold myself out as a currently practicing CPA
or PA nor knowingly allow anyone else to represent that I hold such
certification or credential”;
(3) An answer of yes or no to the statement “I shall notify the OPLC at least 30 days prior to the
proposed date of re-entry into practice”; and
(4) An answer of yes or no to the statement “I shall, before actually re-entering practice, satisfy all
CPE requirements that would have been applicable had I remained active in
practice, which requires at least 80 hours completed within the 2-years
immediately preceding the submission of this application”.
(d) The applicant
shall include with the application the fee required by Plc 1002.01.
(e) The applicant
shall sign and attest in accordance with Plc 308.08.
(f) The OPLC shall
grant the application for inactive status if it determines that the application
is complete and the fee has been paid.
(g) The CPA or PA
whose application has been granted shall
only use the inactive status designation for the 2 years during which the
renewal would have been effective. In order to remain
on inactive status after the 2-year period, the CPA or PA shall reapply as
required by (a) through (e) above.
Source. #9051, eff 12-27-07; amd
by #10054, eff 1-1-12; ss by #10746, eff 1-1-15; ss by #14322, eff 9-15-25,
EXPIRES: 9-15-35
Ac
401.07 Return to Active Practice from
Inactive Status.
(a)
A licensee on inactive status pursuant to Ac 401.06, or a person who
otherwise no longer holds a current license issued by the OPLC, shall not
return to active practice before the OPLC determines that the licensee has
complied with all requirements of this section.
(b)
A licensee on inactive status pursuant to Ac 401.06 who seeks to return
to active practice, within 6 years of the lapse of that CPA license shall
complete and submit the “Universal Application for
Initial License” required by Plc 304.01(a)(1).
(c)
In addition to the form required in (b) above, the applicant shall
complete and submit a “Return to Active Practice Addendum to the Universal Application for Initial License” providing
the following information:
(1) An answer
of yes or no to the question “Have you used the full
CPA designation, as opposed to the ‘CPA Inactive’ designation, since becoming
inactive?”; and
(2) An answer
of yes or no to the question “I have included with this
application documentation, as required by Ac 401.05, showing completion of 80
hours of CPE, including at least 4 hours of ethics?”
(d)
The applicant who wishes to return to active practice shall submit the
following with the “Universal Application for Initial License”:
(1) An
explanation of all material facts detailing each response to the questions
required in Plc 304.03(e) that are in the affirmative;
(2)
Documentation, as required by Ac 401.05, showing completion of 80 hours
of CPE, including at least 4 hours of ethics; and
(3) Payment of
the fee required by Plc 1002.01.
Source. #9200, eff
7-4-08; amd by #10054, eff 1-1-12; ss by #10746, eff
1-1-15; ss by #12991, eff 2-21-20; ss by #14322, eff 9-15-25, EXPIRES: 9-15-35
Ac
401.08 Reinstatement of a License
Lapsed for Non-Renewal.
(a) Licenses subject
to reinstatement by the OPLC under this section shall be those licenses lapsed
for no more than 1 year.
(b) Applications for license
reinstatement shall be processed in accordance with Plc 312.
(c) The OPLC shall
reinstate a license lapsed for no more one year if the applicant for
reinstatement submits to the OPLC:
(1) Evidence of good moral character as shown by:
a. The answers to the “yes-no” questions on the
reinstatement application form;
b. Any detailed reports of the relevant
circumstances related to answers to those questions as described in Plc 304.04;
and
c. The written statement required by Plc
308.06(e);
(2) For a PA, a complete application required by
Ac 401.01(b);
(3) For a CPA firm, a completed application
required by Ac 401.01(c);
(4) For a PA, the documents described in Ac
401.01(b)(3) and (4);
(5) For a CPA firm, the documents described in Ac
401.01(c)(3); and
(6) The reinstatement fee required by Plc
1002.01.
(d) The applicant who
wishes to activate the license that lapsed for one or more years shall provide
all documents required for initial licensure.
Source.
#14322, eff 9-15-25, EXPIRES: 9-15-35
PART Ac 402 revocation,
suspension, and other sanctions
Ac 402.01
Professional Misconduct. Professional
misconduct shall be:
(a) Knowingly or
negligently providing inaccurate material information to the board or the OPLC
or failing to provide complete and truthful material information upon inquiry
by the board or the OPLC, including during the process of applying for a
license, license renewal, or license reinstatement;
(b) Conviction of any
criminal offense other than a traffic violation;
(c) Failure to report
to the board through the OPLC a conviction described in (b) above within 30
days;
(d) Any violation of
Ac 500;
(e) Any conduct that
results in disciplinary action by a regulatory authority in another domestic or
foreign jurisdiction;
(f) Practice without
a currently valid license; and
(g) Any violation of:
(1) Any provision of RSA 309-B;
(2) Any rule adopted by the board; or
(3) Any state or federal law reasonably related
to the licensee’s authority to practice or the licensee’s ability to practice
competently.
Source. #5365, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98;
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac 402.02
Disciplinary Sanctions.
(a) When the board, through the OPLC, receives
notice that a licensee has been subjected to disciplinary action related to
professional conduct by the licensing authority of another jurisdiction the
board and the OPLC shall proceed as required in Plc 311.14.
(b) In a disciplinary proceeding brought on the basis of discipline imposed in another jurisdiction,
the licensee shall be subject to any disciplinary sanction required by Plc
311.14(b).
(c) After a finding that
misconduct has occurred, the board shall impose one or more of the disciplinary
sanctions authorized by RSA 310:12.
(d) In imposing sanctions, the board shall
consider the following factors, along with the presence of other aggravating or
mitigating circumstances, in determining the level or kind of disciplinary
sanction imposed:
(1) The seriousness of the offense;
(2) Prior disciplinary record;
(3) State of mind at the time of the offense;
(4) Acknowledgment of wrongdoing;
(5) Willingness to cooperate with the board or
the OPLC;
(6) The purpose of the rule or statute violated;
(7) The potential harm to public interest; and
(8) The nature and extent of the enforcement
activities required of the board or the OPLC as a result of
the offense.
(e) Copies of board
orders imposing disciplinary sanctions and copies of all settlement agreements
or consent decrees shall be sent to the licensing body of each state in which
the licensee is licensed and to such other entities, organizations,
associations, or boards as are required to be notified under applicable state
or federal law.
Source. #5365, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac 402.03 Procedure
for Imposition of Sanctions. Other
than immediate license suspension authorized by RSA 541-A:30, III, the board
shall impose disciplinary sanctions only:
(a) After prior
notice to the licensee in accordance with Plc 200 and the opportunity for the
licensee to be heard; or
(b) By agreement in a
settlement between the board and the licensee made pursuant to Plc 200.
Source.
#14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 402.04 Determinations
Required for Sanctions.
(a) In determining
which sanction or combination of sanctions to impose, the board shall:
(1) First determine the nature of the act or
omission constituting the misconduct done by the certified, registered, or
permitted individual;
(2) Next determine whether the misconduct has one
or more of the characteristics listed in (b) below; and
(3) Finally, apply the standards in (b) below.
(b) The
characteristics shall be:
(1) The misconduct actually
caused harm to the client or another person;
(2) The misconduct had the potential to cause
harm to the client or another person;
(3) The misconduct repeated earlier misconduct
done by the certified, registered, or permitted individual, as determined by:
a. An earlier hearing;
b. An earlier settlement agreement predicated on
the same misconduct by the certified, registered, or permitted individual; or
c. An admission by the certified, registered, or
permitted individual;
(4) The misconduct was not the first misconduct
by the certified, registered, or permitted individual, as determined by:
a. An earlier hearing;
b. An earlier settlement agreement predicated on
the same misconduct by the certified, registered, or permitted individual; or
c. An admission by the certified, registered, or
permitted individual; and
(5) The misconduct was intentional rather than
the result of negligence or inadvertence.
Source.
#14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 402.05 Standards
for the Selection of Sanctions. The
board shall select appropriate sanction(s):
(a) From the list
authorized in RSA 310-B:12;
(b) From the list of
fines in Ac 402.06; and
(c) By choosing, in light of the characteristics determined pursuant to Ac
402.04(b), the sanction or combination of sanctions most likely to:
(1) Protect the public;
(2) Deter future misconduct by the certified,
registered, or permitted individual;
(3) Take into account
any acknowledgement of fault by the certified, registered, or permitted
individual within investigation of the misconduct;
(4) Correct any attitudinal, educational, or
other deficiencies which led to the misconduct;
(5) Encourage the responsible practice of
accountancy; and
(6)
Demonstrate to the certified, registered, permitted individual, and the public,
the board's intention to insure that its certified,
registered, or permitted individuals practice in accordance with applicable
laws and the public welfare.
Source.
#14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 402.06 Administrative Fines.
(a)
When persons subject to the board’s disciplinary authority are directed
to pay fines in accordance with this section, such fines shall be assessed in
accordance with the factors stated in Ac 402.02(d) and the following additional
considerations:
(1) The cost of any investigation or hearing
conducted by the board or the OPLC; and
(2) The licensee’s ability to pay a fine assessed
by the board through the OPLC.
(b)
Administrative fines shall not exceed the following amounts:
(1) When no violation of the same type has
occurred within the 5 years preceding the board’s notice to the respondent, the
fine assessed shall not exceed $250.00 per day or $1,000.00 per offense
whichever is greater;
(2) When a
single disciplinary infraction of the same type has occurred within the 5 years
preceding the board’s notice to the respondent, the fine assessed shall not
exceed $250.00 per day or $1,500.00 per offense whichever is greater;
(3) When more than one disciplinary infraction of
the same type has occurred within the 5 years preceding the board’s notice to
the respondent, the fine assessed shall not exceed $250.00 per day or $2,000.00
per offense whichever is greater; and
(4) In the case of continuing violations, a
separate fine shall be assessed for each day the violation continues, but the
total amount of the fine and the respondent’s promptness and cooperativeness in
ceasing the prohibited conduct in question shall be considered in assessing the
daily fines. A single course of continuing conduct shall be treated as a single
violation for purposes and (1)-(3) above.
Source. #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
PART Ac 403 CONTINUING EDUCATION
Ac 403.01 Continuing Professional Education
Requirements.
(a) Up to 40 hours of CPE in
excess of the required 80 hours shall only be carried over to the next
succeeding biennial period.
(b) Notwithstanding any other provision of Ac
403, a licensee, who is a new licensee or has activated an inactive license
shall complete a minimum of 20 hours of CPE each year prior to renewal. For
purposes of this paragraph, carryover hours shall not be applicable to new licensees.
(c) Notwithstanding any other provision of Ac
403, a licensee shall complete a minimum of 4 hours of CPE in
the area of professional ethics in each 2-year certification or
registration period or as a condition of renewal upon returning to active
practice from inactive status, regardless of the duration of inactive status.
(d) A licensee who has previously held a
certificate or registration but who was on inactive
status shall show compliance with Ac 403.01(a) and (c).
(e) A licensee certified in New Hampshire by
reciprocity and seeking renewal shall complete 20 hours of CPE for each year
during the biennial license period.
(f) A licensee may petition the board to waive
the specific requirements of this section based upon individual hardship due
to:
(1) Health issues supported by documentation from
the licensee’s physician or medical professional that shall be furnish to the board when necessary for a fair and informed
determination by the board;
(2) Military service for serving on temporary
active duty in the armed forces of the United States for a
period of time exceeding 120 consecutive days in a year; or
(3) A showing of good
cause that includes serious accident, illness, or other circumstances beyond the control of the
licensee which actually prevents the licensee from
satisfying the CPE requirements.
(g) If, in any one
year within a biennial certification or registration period, a licensee fails
to earn 20 hours of CPE as required by (b) above, the licensee shall petition
the board to waive the 20 hour per year CPE requirement for that one year.
(h) As soon as a
licensee realizes that they will not meet the 20 hours per year CPE requirement
in a non-renewal year, the licensee shall petition the board for permission to
satisfy the deficiency within 6 months of the filing of the petition, except
that all CPE shall be earned within a renewal year.
(i) As soon as a
licensee realizes that they will not meet the 20 hour per year CPE, the 80-hour
or prorated biennial CPE requirement, or both in a renewal year, the licensee
shall petition the board for permission to satisfy the deficiency within 60
days.
(j) In cases where a licensee fails to meet the
20 hour per year CPE requirement more than one time, they shall petition the
board for permission to satisfy the deficiency in the immediately following
year. Waivers for repeat offenders shall
be issued on a case by case basis with exceptions
given for reasons of individual hardship, including health, military service,
or other good cause.
(k) The OPLC shall deny any renewal application
of a licensee who does not satisfy the hourly requirement for renewal of their
license, unless the applicant petitions the board and demonstrates that the
failure was beyond their control.
(l) Documentation of completion of continuing
professional education shall be retained by the licensee for a period of, no less than, 4 years from the
date of renewal.
Source. #1972, eff 2-28-82; ss by #2475, eff 9-13-83;
ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5365, eff 3-27-92; amd by #5586, eff 2-22-93;
ss by #6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #9200, eff 7-4-08; ss by #10746, eff 1-1-15;
ss by #14322, eff 9-15-25, EXPIRES: 9-15-35
Ac 403.02 Continuing Professional Education.
(a) Continuing professional education activities
shall be learning opportunities that contribute directly to a licensee’s
knowledge, ability, and competence to perform their professional
responsibilities.
(b) An activity or program shall qualify as
acceptable CPE for the renewal period in which the activity occurred, or
program was attended, except as provided in Ac 403.01(b) or (g), if it is a
formal activity or program of learning which contributes to the growth and the
professional knowledge and professional competence of an individual licensed
under RSA 309-B. All programs shall meet current the
NASBA requirements.
(c) The responsibility for demonstrating that a
particular program meets the requirements of this section shall rest solely
upon the licensee. All documentation of CPE shall be retained for not less than
4 years from the date of the renewal in which the CPE was claimed.
(d) Activities or programs shall be in one of the
4 following formats:
(1) Self-study;
(2) Seminar, lecture, or webinar;
(3) Authoring articles, books, or other
publications; and
(4) Presenting, lecturing, or instructing.
(e) Activities or programs dealing with the
following general subjects shall be acceptable provided they meet all other
requirements of this section:
(1) Public accounting;
(2) Governmental accounting;
(3) Public auditing;
(4) Governmental auditing;
(5) Administrative practices;
(6) Social environment of business;
(7) Regulatory ethics;
(8) Business law;
(9) Business management and organization;
(10) Finance;
(11) Management advisory services;
(12) Marketing;
(13) Behavioral ethics;
(14) Communications;
(15) Personal development;
(16) Personnel and human resources;
(17) Computer science;
(18) Economics;
(19) Mathematics;
(20) Production;
(21) Specialized knowledge and its application;
(22) Statistics;
(23) Taxes; and
(24) Data analytics.
(f) CPE credit shall be given with a ratio of a
minimum of 50 minutes constituting one hour. For university or college courses,
each semester hour of credit shall
equal 15 hours toward the requirement.
(g) CPE credit shall be given to nano learning
programs consisting of tutorial program designed to
permit a participant to learn a given subject in ten-minute timeframes through the use of electronic media without instruction of a
real-time instructor and meeting the NASBA requirements shall be limited to no
more than 3 hours per year.
(h) To qualify for
CPE as a program of self-study by a licensee, the self-study shall be
documented by a certificate of completion prepared by the program sponsor that
includes:
(1) The name of the participant;
(2) The name of the program;
(3) The specific subject or subjects included in
the program;
(4) The date of completion;
(5) A statement that indicates the participant
passed a test, prepared by the program sponsor, that demonstrates mastery of
the subject matter of the program of self-study;
(6) The number of hours that the program sponsor
has determined should be awarded for each subject studied as part of the
program;
(7) Whether hours are computed on a 50-minute or
100-minute basis; and
(8) The signature of an authorized representative
of the program provider, certifying the accuracy of the information provided on
the certificate of completion.
(i) To qualify for
CPE as a program seminar or lecture attended by a licensee, it shall:
(1) Fall within one of the following descriptions
of subject matter and program provider:
a. Professional
education and development programs of national, state, and local accounting
organizations;
b. Technical sessions at meeting
of national, state, and local accounting organizations and their chapters;
c. Credit and non-credit courses from a
university or college;
d. Formal firm or in-house education programs;
e. Programs of other organizations in the areas
of professional accounting and industry;
f.
Committee meetings of professional accounting and trade societies which
are structured as formal education programs;
g. Dinner, luncheon, and breakfast meetings
which are structured as formal education programs; and
h. The portions of firm or in
house meetings for staff, management groups, or both, which are
structured as formal education programs and are devoted to the communication
and application of general professional policy or procedure;
(2) Not include time devoted to firm or
organizational administrative, financial, and operating matters; and
(3) Be documented by a certificate of completion
from the program provider that shall include:
a. The name of the participant;
b. The name of the program;
c. The dates and hours of attendance;
d. The date of completion;
e. The specific subject or subjects included in
the program;
f. The number of hours that the program sponsor
has determined should be awarded for each subject studied as part of the
program;
g. Whether hours are computed on a 50-minute or
100-minute basis; and
h. The signature of an authorized representative
of the program provider, certifying the accuracy of the information provided on
the certificate of completion.
(j) To qualify for CPE for authoring articles,
books, or other publications, a licensee shall:
(1) Be capable of substantiating the claim
through the production of research notes, drafts, or other documents;
(2) Keep a copy of each article, book, or other
publication, as well as substantiation of authorship, in its published form for
a period of 4 years after the licensee has claimed such authorship as CPE
pursuant to Ac 403.02(d);
(3) Not claim CPE under this paragraph in excess of 50% of the total number of hours of CPE
required for renewal; and
(4) Be documented by a certificate of completion
from the licensee that shall include:
a. The name of the licensee-author;
b. The title of the article, book, or other
publication;
c. The beginning and ending dates of the writing
project;
d. The total number of hours spent on the
writing project;
e. The specific subject or subjects included in
the article, book, or other publication; and
f. The signature of the licensee, certifying the
accuracy of the information provided on the certificate of completion.
(k) To qualify for
CPE as a presentation, lecture, or instruction, a licensee shall:
(1) Retain documentation, in the form of research
notes, drafts, or other documents, of the licensee
preparing the presentation, lecture, or instruction;
(2) Submit information regarding the time spent for preparation and for presentation;
(3) Limit claimed preparation time to no more
than twice the presentation time claimed;
(4) Limit claimed presentation time to the actual
time of presentation by the licensee;
(5) Claim credit for multiple presentations of
the same course within a single renewal period, only if the licensee made
substantive changes to the materials or presentation requiring preparation time
in excess of 25% of the preparation time claimed for
the original preparation for the course;
(6) Not claim CPE under this paragraph in excess of 50% of the total number of hours of CPE
required for renewal; and
(7) Be documented by a certificate of completion
from a representative of the program sponsor that shall include:
a. The name of the licensee who prepared the
materials;
b. The title of the presentation, lecture, or
instruction;
c. The name of the licensee who presented the
materials;
d. The date(s) on and hours during which the
presentation, lecture, or instruction was given;
e. The total number of hours spent in the actual presentation of such materials;
f. The specific subject or subjects included in
the presentation, lecture, or instruction; and
g. The signature of an authorized representative
of the program provider certifying the accuracy of the information provided on
the certificate of completion.
(l) The licensee shall maintain documentation of
education programs that are not the NASBA approved and provide that
documentation to the OPLC, so the board is able to determine if the hours meet
the requirements set forth in Ac 403.02(a) through (i). Acceptable documentation shall be:
(1) Documentation from the educational provider
or sponsor containing the following information:
a. The name of the program;
b. The name of the provider or sponsor;
c. A syllabus of the program’s content;
d. The presenter’s name(s); and
e. Duration of the program with the number of
hours attributed to the program.
(m) All licensees
shall submit, as required by Plc 308.04, all documented continuing professional
education intended to be used toward the continuing professional education
requirements required by Ac 403.01 and Ac 403.02.
Source. #1972, eff 2-28-82; ss by #2475, eff 9-13-83;
ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New. #5365, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98
New. #6904, eff 12-4-98, EXPIRED: 12-4-06,
EXPIRED:
12-4-06
New. #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #9200, eff 7-4-08; ss by #10746, eff 1-1-15;
ss by #14322, eff 9-15-25, EXPIRES: 9-15-35
Ac
403.03 Continuing Professional
Education Audit Procedure. The OPLC shall conduct audits as required by Plc 308.04(d) for compliance with
Ac 403.01 and Ac 403.02.
Source. #14322, eff 9-15-25, EXPIRES: 9-15-35
PART Ac 404 ONGOING REQUIREMENTS
Ac
404.01 Change of Address. All CPAs shall
notify the OPLC in writing within 30 business days of a change in mailing
address or e-mail address to ensure the OPLC has a current mailing and e-mail
address. Failure to provide a written
notification of change of address shall not be exculpatory grounds for failing
to respond to governing board or the OPLC inquiries or timelines and shall be
grounds for disciplinary actions.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac 404.02 CPA Outsourcing Disclosures to Clients.
(a) If a CPA is using
a third-party provider to assist the CPA in providing any professional services
to a client, the CPA shall provide a written disclosure of such outsourcing to
the client. Such written disclosure
shall comply with (b) below.
(b) A disclosure
required pursuant to (a) above shall be in a separate written statement of the
services to be rendered by the third-party provider. The statement shall provide the client with
an opportunity to opt out and clear instructions on how to opt out.
(c) A CPA outsourcing
professional services to a third-party provider shall be responsible for insuring a third-party provider is in
compliance with all applicable rules of professional conduct and ethics
in Ac 500.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
Ac
404.03 Retention of Client Records.
(a) A CPA shall
return client records in their possession to the client upon request by the
client or the client’s designated agent for their return. The records shall be
returned immediately upon demand unless a delay is necessary in
order to retrieve a closed file or to extract the CPA’s work papers
described in (d) – (f) below. If the records cannot be returned immediately
upon demand, the CPA shall immediately notify the client of the date by which
the records will be returned. Nothing in this section shall require a CPA to
pay delivery costs when the records are returned to the client.
(b) If the client is
any form of a partnership, records shall be returned upon request by any of its
general partners, its managing partner, or their designated agent. If the
client is a corporation, records shall be returned upon request by its
president. If the client is a limited liability company, records shall be
returned upon request by the managing member. Joint records shall be returned
upon request by any party.
(c) A CPA shall not
retain a client’s records in order to force payment of
any kind.
(d) Work papers shall
be the CPA’s property and need not be surrendered to the client. If work papers
contain data which should properly be reflected in the client’s books and
records but have not been duplicated therein, copies of any such work papers
shall be provided to the client.
(e) Work papers
considered part of the client’s records shall include but not be limited to:
(1) Worksheets in lieu of original entries, such
as listings and distributions of cash receipts or cash disbursements on
columnar work paper;
(2) Worksheets in lieu of general ledger or
subsidiary ledgers, such as accounts receivable, job cost and equipment
ledgers, or similar types of depreciation records;
(3) All adjusting and closing journal entries and
supporting details not fully set forth in the journal entry;
(4) Consolidating or combining journal entries worksheets and supporting detail
used in arriving at final figures incorporated in an end
product such as financial statements or tax returns;
(5) Depreciation and amortization schedules; and
(6) Cost basis calculation.
(f) Work papers
developed by the CPA incident to the performance of an engagement which do not
result in changes to the client’s records, or are not
in themselves part of the records ordinarily maintained by such clients, shall
be solely the CPA’s work papers and shall not be the property of the client.
(g) A CPA shall
ensure that the work product and the work papers created in the performance of
an engagement for a client are retained for a minimum of 5 years after creation
unless the CPA is required by law to retain such records for a longer period.
Source. #6904, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14322, eff
9-15-25, EXPIRES: 9-15-35
PART
Ac 405 PEER REVIEW
Ac 405.01 Definitions.
(a) “Agreed-upon
procedure” means a professional service whereby a CPA is engaged to issue a
report of findings based on specific procedures performed on financial
information prepared by or on behalf of the client, and for which attestation
by the CPA is required pursuant to the agreement with the client.
(b) “Peer review”
means “peer review” as defined in RSA 309-B:3, XII, namely “a study, appraisal, or review of one
or more aspects of the professional work of a person or firm that performs
attest services, by a person or persons who hold certificates and who are not
affiliated with the person or firm being reviewed.”
(c) “Peer review
entity” means a peer review program administrator approved by the board.
(d) “Peer review
program” means an independent review and analysis of the procedures and
methodologies used by a firm in its provision of any of the services listed
under Ac 405.02(a) for the purpose of determining compliance with generally
accepted standards for such services and making recommendations to the firm for
coming into compliance when gaps in compliance have been found.
Source. #9051, eff 12-27-07; amd
by #10054, eff 1-1-12; ss by #10746, eff 1-1-15; ss by #14322, eff 9-15-25,
EXPIRES: 9-15-35
Ac 405.02 Peer Review Required.
(a) Each firm that
provides any of the following services to the public shall participate in a
peer review program:
(1) Audits, whether financial, performance, or
both;
(2) Reviews of financial statements;
(3) Compilations of financial statements; and
(4) Agreed-upon procedures.
(b) No firm shall be required to participate in a
peer review program until the firm agrees to undertake a report engagement for
a service listed under (a) above.
(c) A peer review shall be performed and reported
in accordance with standards that are no less stringent than the “AICPA Peer
Review Program Manual, Audit and Assurance”, version November 2024, available
as noted in Appendix B.
(d)
Within 30 days of first being engaged to provide any service
listed under (a) above, a firm shall notify the OPLC in writing,
and provide documentation of enrollment in a peer review program that
meets the requirements of this part. Failure to comply with the peer review
requirements of this part shall subject the firm to disciplinary action by
board in accordance with RSA 309-B:10, I-a.
(e) Within 18 months
of the year-end date of the report on engagement the firm first agrees to
undertake a service listed under Ac 405.02(a), the firm shall undergo a peer
review.
(f) Within 24 months
of the year-end date of the report on the engagement the first agrees to
undertake a service listed under Ac 405.02(a), the firm shall furnish to the
board a peer review final acceptance letter.
(g) If a firm is
unable to furnish a final acceptance letter within 24 months pursuant to (f)
above due to being issued a report with a rating of pass with deficiency or
deficiencies or fail, the firm shall, within the 24 month period, provide to
the board an accept-provided-that letter, describing required follow-up actions
and their due date, from the peer review entity.
(h)
If the final letter of acceptance has not been issued as of the
date the CPA firm files the firm registration form, the status of the peer
review in process, as is within confidentiality requirements, shall be obtained
from the peer review entity and submitted with the firm registration form.
(i) Any firm that receives a report with a rating
of pass with deficiency or deficiencies or fail shall
abide by the peer review entity’s required follow-up actions, including
fulfilling such follow-up actions within the time frame established by the peer
review entity, and subsequently obtain a final peer review acceptance letter
from the peer review entity.
(j) A peer review
shall not be considered by the board to be complete until the final letter of
acceptance has been issued by the peer review entity. Such final letter of
acceptance shall indicate the new due date of the firm’s next peer review.
(k) If the final
letter of acceptance has not been issued as of the date the CPA firm files the
firm registration form, it shall be submitted within 60 days of the date it is
issued.
(l) Firms required to
participate in a peer review program shall participate in and complete one of
the following peer review programs:
(1) AICPA National Peer Review Committee; or
(2) AICPA Peer Review Program.
(m) Each firm
required to participate in a peer review program shall continue participating
in a peer review program until the firm or its successor in interest has, for a
period of at least one year, outside of its peer review year, not engaged in
any service listed in (a) above and does not intend to in the future.
(n) Subsequent peer
reviews of a firm shall be due no later than 6 months from the end of the
3-year peer review period unless an extension is granted by the peer review
program entity.
(o) If a firm is
granted an extension of time to complete its peer review, the firm shall submit
to the board a copy of the letter from the peer review entity that granted the
extension.
Source. #9051, eff 12-27-07; amd
by #10054, eff 1-1-12; ss by #10746, eff 1-1-15; ss by #14322, eff 9-15-25,
EXPIRES: 9-15-35
Ac 405.03 Duties of Reviewer.
(a) A reviewer shall
be independent with respect to the reviewed firm and comply with “Section 1000
Standards for Performing and Reporting on Peer Reviews,” as found in the “AICPA
Peer Review Program Manual, Audit and Assurance”, version November 2024,
available as noted in Appendix B.
(b) Information
concerning the participating firm or its clients or personnel that is obtained as a consequence of the review shall be confidential and
shall not be disclosed to anyone not involved in the peer review process.
Source. #9051, eff 12-27-07; amd
by #10054, eff 1-1-12; ss by #10746, eff 1-1-15; ss by #14322, eff 9-15-25,
EXPIRES: 9-15-35
CHAPTER Ac
500 ETHICS
PART
Ac 501 ACCOUNTABILITY
Ac 501.01 Ethical Standards for All Professional
Services.
(a)
The ethical standards that follow shall apply to all professional
services performed by a licensee in the practice of public accounting except
that a licensee who is practicing outside the United States shall not be
subject to discipline for departing from any of the rules stated herein as long
as the licensee’s conduct is in accord with the rules of the organized
accounting profession in the country in which they are practicing.
(b)
Where a licensee’s name is associated with financial statements that
require United States practices to be followed, the licensee shall comply with
the requirements of Ac 504.01 and Ac 504.02.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25
Ac 501.02 Licensee Responsibility for Associates. A licensee shall be held responsible for
noncompliance with the rules by all persons associated with their practice of
public accounting who are either under the licensee’s supervision or are the
licensee’s partners or shareholders in the practice, if the licensee knew or
should have known of such associated person’s failure to comply with the rules.
Source. #6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25
(formerly Ac 501.03)
Ac 501.03 Applicability to Indirect Services. A licensee shall not permit others to carry
out on their behalf, either with or without compensation, acts which, if
carried out by the licensee, would place the licensee in violation of the
rules.
Source. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25 (formerly Ac 501.04)
PART
Ac 502 INDEPENDENCE
Ac 502.01 Opinion on Financial Statements.
(a)
An accountant or a firm of which they are a partner, shareholder, or
member shall not express an opinion on financial statements of an enterprise
unless the accountant and the accountant’s firm are independent with respect to
such enterprise.
(b)
Instances where an accountant or their firm’s independence shall be
considered impaired include, but are not limited to:
(1) Periods of their
professional engagement, or at the time of expressing their opinion, when the
accountant or the accountant’s firm:
a. Had or was committed to
acquire any direct or material indirect financial interest in the enterprise;
b. Was a trustee of any
trust or executor or administrator of any estate if such trust or estate had or
was committed to acquire any direct or material indirect financial interest in
the enterprise;
c. Had any joint
closely-held business investment with the enterprise or any officer, director,
or principal stockholder thereof which was material in relation to their or
their firm’s net worth; or
d. Had any loan to or from
the enterprise or any officer, director, or principal stockholder thereof,
except for the following loans from a financial institution when made under
normal lending procedures, terms, and requirements:
1. Loans obtained by an
accountant or the firm which are not material in relation to the net worth of
such borrower;
2. Home mortgages; and
3. Other secured loans,
except loans guaranteed by an accountant’s firm which are otherwise unsecured;
and
(2) Periods covered by the
financial statements, the time period of the
professional engagement, or at the time of expressing an opinion, when the
accountant or firm:
a. Was
connected with the enterprise as a promoter, underwriter or voting
trustee, a director or officer, or in any capacity equivalent to that of an
accountant of management or of an employee; or
b. Was a trustee for any
pension or profit-sharing trust of the enterprise.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25
PART
Ac 503 INDEPENDENCE, INTEGRITY, AND
OBJECTIVITY
Ac 503.01 Standards of Integrity and Objectivity. In the performance of any professional
service, a licensee shall:
(a)
Maintain independence, objectivity, and integrity;
(b)
Be free of conflicts of interest; and
(c)
Not knowingly misrepresent facts or subordinate their judgment to
others.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New. #5366, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98
New. #6905, eff 12-4-98, EXPIRED: 12-4-06
New. #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25
PART Ac 504 GENERAL STANDARDS OF ACCOUNTING PRINCIPLES
Ac 504.01 Professional Standards.
(a) The board hereby adopts
the principles, standards, and interpretations set forth in the December 15, 2014 and updated for all official releases through August
31, 2016, American Institute of Certified Public Accountants (AICPA) “Code of
Professional Conduct” as available in Appendix B.
(b)
Licensees shall comply with the standards and interpretations
incorporated in (a) above.
(c)
In addition to the standards incorporated in (a) above, licensees shall:
(1) Undertake only those
professional services that the licensee or the licensee’s firm can complete
with professional competence;
(2) Exercise due
professional care in the performance of professional services;
(3) Adequately plan and
supervise the performance of professional services;
(4) Obtain sufficient
relevant data to afford a basis for conclusions or recommendations in relation
to any professional services performed; and
(5) Cooperate with
investigations and requests for information from the board and the OPLC.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #13932, eff 6-22-24
Ac 504.02 Accounting Principles.
(a) If financial statements or financial data
contain any departure from an accounting principle contained in any
professional standards incorporated in Ac 504.01 and adopted by the American
Institute of Certified Public Accountants, the Financial Accounting Standards
Board, or other globally recognized standard setting body that has a material
effect on the statements or data taken as a whole, then a licensee shall not:
(1) Express an opinion or state affirmatively
that the financial statements or other financial data of any entity are
presented in conformity with generally accepted accounting principles; or
(2) State that they are not aware of any material
modifications that should be made to such statements or data in
order for them to be in conformity with generally accepted accounting
principles.
(b) If, however, the statements or data contain
such a departure and the licensee can demonstrate that due to unusual
circumstances the financial statements or data would otherwise have been
misleading, the licensee may comply with the rule by describing the departure,
its approximate effects, if practicable, and the reasons why compliance with
the principle would result in a misleading statement.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #13932, eff 6-22-24
PART
Ac 505 CONFIDENTIAL CLIENT INFORMATION
Ac 505.01 Disclosure of Confidential Information.
(a)
A licensee in public practice shall not disclose any confidential client
information without the specific consent of the client.
(b)
The requirement in (a) above shall not:
(1) Relieve a licensee of
their professional obligations under Ac 504.01 and Ac 504.02;
(2) Affect in any way the
licensee’s obligation to comply with a validly issued and enforceable subpoena
or summons, or prohibit a licensee’s compliance with applicable laws and
government regulations;
(3) Prohibit review of a
licensee’s professional practice under American Institute of Certified Public
Accountants or state certified public accountant (CPA) society or board of
accountancy authorization; or
(4) Preclude a licensee
from initiating a complaint with, or responding to any inquiry made by, the
professional ethics division or trial board of the Institute or a duly
constituted investigative or disciplinary body of a state CPA society or board
of accountancy.
(c)
Licensees of any of the bodies identified in (b)(4) above and licensees
involved with professional practice reviews identified in (b)(3) above shall
not use to their own advantage or disclose any licensee’s confidential client
information that comes to their attention in carrying out those
activities. This prohibition shall not
restrict licensees’ exchange of information in connection with the
investigative or disciplinary proceedings described in (b)(4) above or the
professional practice reviews described in (b)(3) above.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25
Ac 505.02 Use of Third Party
Service Providers.
(a)
Before using a third party
service provider, the licensee shall:
(1) Enter into a binding,
enforceable contractual agreement with the third-party service provider to
maintain the confidentiality of the information; and
(2) Receive reasonable
assurances from the third-party service provider that it has appropriate
procedures in place to prevent the unauthorized release of confidential
information to others.
(b)
The nature and extent of procedures necessary to obtain reasonable
assurance shall depend on the facts and circumstances, including the extent of
publicly available information on the third party
service provider’s controls and procedures to safeguard confidential client
information.
(c)
When a licensee has entered into a binding,
enforceable contractual agreement with a third-party service provider, the
licensee shall comply with Ac 404.02.
Such disclosure shall not relieve the licensee
of their obligations under these rules.
(d)
A licensee shall not be required to inform the client when the licensee
contracts with or uses a third party service provider
to provide administrative support service to the licensee.
(e) A licensee shall provide a written disclosure
to the client that the licensee is using a third-party provider to assist the
licensee in providing any professional services to the client, excluding (d)
above.
(f)
A licensee outsourcing professional services to a third-party provider
shall be responsible for ensuring a third-party provider is and remains in
compliance with all applicable provisions of Ac 500.
Source. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25
PART
Ac 506 CONTINGENT FEES
Ac 506.01 Prohibition.
(a)
A licensee in public practice shall not:
(1) Perform, for a
contingent fee, any professional services for, or receive such a fee from, a
client for whom the licensee or the licensee’s firm performs:
a. An audit or review of a
financial statement;
b. A compilation of a
financial statement when the licensee’s compilation report does not disclose a
lack of independence; or
c. An examination of
prospective financial information;
(2) Under any circumstances
receive a contingent fee for the preparation of an audit, review, or compiled
financial statement; or
(3) Prepare an original or
amended tax return or claim for a tax refund for a contingent fee for any
client, subject to Ac 506.02 and (c) below.
(b)
The prohibition in (a)(1) above shall apply during the period in which
the licensee or the licensee’s firm is engaged to perform any of the services
listed above and the period covered by any historical financial statements
involved in any such listed services.
(c)
The prohibition in (a)(3) above shall not apply to a contingent fee for
preparation of an amended return or claim for refund if the licensee has a
reasonable expectation that the amended return or claim for refund will be
subject of a substantive review by the taxing authority.
Source. #6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25
Ac 506.02 “Contingent fee” means a fee
established for the performance of any service pursuant to an arrangement in
which no fee will be charged unless a specified finding or result is attained,
or in which the amount of the fee is otherwise dependent upon the finding or
result of such service. The term does
not include fees fixed by courts or other public authorities, or, in tax
matters, if determined based on the results of judicial proceedings or the
findings of governmental agencies.
Source. #6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. 9051, eff 12-27-07; ss by #10746, eff 1-1-15;
ss by #14188, eff 4-5-25
Ac 506.03 Fees.
A licensee’s fees may vary depending on the complexity of services
rendered.
Source. #6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25
PART
Ac 507 ETHICS IN ADVERTISING
Ac 507.01 Advertising and Other Forms of
Solicitation. A licensee in public
practice shall not seek to obtain clients by advertising or other forms of
solicitation in a manner that is false, misleading, or deceptive. Solicitation by the use of
coercion, over-reaching, or harassing conduct shall be prohibited.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25
Ac 507.02 Commissions.
(a)
A licensee in public practice shall not for a commission recommend or
refer to a client any product or service, or for a commission recommend or
refer any product or service to be supplied by a client, or receive any other
form of a commission when the licensee or the
licensee’s firm also performs for that client:
(1) An audit or review of a
financial statement;
(2) A compilation of a
financial statement when the member expects, or reasonably might expect, that a
third party will use the financial statement and the member’s compilation
report does not disclose a lack of independence; or
(3) An examination of
prospective financial information.
(b)
The prohibition in (a) above shall apply to the period in which the
licensee is engaged to perform any of the services listed in (a)(1) – (3) above
and to the period covered by any historical financial statements involved in
such listed services.
(c)
A licensee who is not prohibited by this section or RSA 309-B:14 from
performing services for or receiving a commission and who is paid or expects to
be paid a commission shall disclose that fact to any person or entity to whom
the licensee recommends or refers a product or service
to which the commission relates.
(d)
This section shall not prohibit payments to individuals formerly engaged
on the practice of public accounting, or payments to
their heirs or estates.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25 (formerly Ac 507.03)
Ac 507.03 Referral Fees. Any licensee who accepts a referral fee for
recommending or referring any service of a licensee to any person or entity or
who pays a referral fee to obtain a client shall disclose such acceptance or
payment to the client.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New.
#5366, eff 3-27-92, EXPIRED: 7-18-91
New.
#6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25 (formerly Ac 507.04)
Ac 507.04 Form of Practice and Name. A licensee shall not practice public
accounting under a firm name that is misleading. Names of one or more past owners may be
included in the firm name of a successor organization. An owner surviving the
death or withdrawal of all other owners may continue to practice under a name
which includes the name of past owners for up to 2 years after becoming a sole
practitioner.
Source. #1663, eff 12-17-80; ss by #2475, eff
9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91
New. #5366, eff 3-27-92; ss by #6721, INTERIM, eff
3-27-98, EXPIRED: 7-25-98
New.
#6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New.
#9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25
(formerly Ac 507.05)
Ac 507.05 Registered Investment Advisors.
(a)
A registered investment advisor shall not be deemed an incompatible
occupation with that of a certified public accountant or a public accountant
(PA).
(b)
CPAs and PAs who are registered investment advisors may be compensated
on an hourly rate, fixed rate, or as a percentage of assets under
management. However, CPAs and PAs shall
not receive or accept commissions. A CPA
or PA who simultaneously practices as a registered investment advisor shall be
subject to the standards of independence contained in Ac 502.
Source. #6905, eff 12-4-98, EXPIRED: 12-4-06
New.
#8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07
New. #9051, eff 12-27-07; ss by #10746, eff
1-1-15; ss by #14188, eff 4-5-25 (formerly Ac 507.06)
|
Rule |
|
|
Ac 101 |
|
|
Ac 102 |
|
|
Ac 102.01 |
RSA 541-A:16, I(a); RSA-B:3, I |
|
Ac 102.02 |
RSA 309-B:3 |
|
Ac 102.06 |
RSA 309-B:3 |
|
Ac 103 |
|
|
Ac 103.05 |
RSA 309-B:4, I,
II; RSA 309-B:4, VIII(a)–(i); |
|
Ac 103.06 |
RSA 91-A:2, II;
RSA 541-A:16, I(a) |
|
Ac 104 |
|
|
Ac 104.04 |
RSA 91-A:4,
II(d); RSA 91-A:4, IV; RSA 541-A:16, I(a) |
|
Ac 105 |
|
|
Ac 106 |
|
|
|
|
|
Ac 201.01 |
RSA 541-A:16, I(b)-(d) |
|
Ac 201.02 |
RSA 541-A:16, I(b); RSA 310:6, II |
|
|
|
|
Ac 301.01 |
RSA 309-B:4, VI(c); RSA 309-B:5, I and II; RSA 309-B:8, III(b)(2) |
|
Ac 302.01 |
RSA 541-A:16, I(b) |
|
Ac 302.02 |
RSA 309-B:5, I; RSA 309-B:7, I II, VI; RSA 541-A:16, I(b); |
|
Ac 302.03 |
RSA 309-B:5; RSA 309-B:7, I, II, VI |
|
Ac 302.04 |
RSA 309-B:5; RSA 309-B:7, I, II, VI |
|
Ac 302.05 |
RSA 309-B:8, I; RSA 541-A:16, I(b) |
|
Ac 302.06 |
RSA 309-B:8, I, VI; RSA 541-A:16, I(b) |
|
Ac 302.07 |
RSA 309-B:8, I, VI; RSA 541-A:16, I(b) |
|
Ac 302.08 |
RSA 310:14, I |
|
Ac 303.01 |
RSA 309-B:5, II, III, IV, V, VI, IX, X |
|
Ac 303.02 |
RSA 309-B:5, III, IX, X; RSA 309-B:7 |
|
Ac 303.03 |
RSA 309-B:5, III; RSA 309-B:7 |
|
Ac 303.04 |
RSA 309-B:5, I, IX; RSA 309-B:7 |
|
Ac 303.05 |
RSA 309-B:8 |
|
Ac 304.01 |
RSA 309-B:5, V |
|
RSA 541-A:16, I(b) |
|
|
|
|
|
Ac
401.01 |
RSA
541-A:7; RSA 541-A:16, I(b); RSA 541-A:8 |
|
Ac
401.02 |
RSA
541-A:7; RSA 541-A:16, I(b); RSA 541-A:8 |
|
Ac
401.03 |
RSA
309-B:7, II; RSA 309-B:8, II; RSA 310:8 |
|
Ac
401.04 |
RSA
309-B:7, II |
|
Ac
401.05 |
RSA
309-B:4, VI(c); RSA 309-B:7, III; RSA 309-B:7, VII |
|
Ac
401.06 |
RSA
309-B:7, VII |
|
Ac
401.07 |
RSA
309-B:7, VII; RSA 161-B:11, VI-a |
|
Ac
401.08 (repeal) |
RSA
309-B:6 |
|
Ac
401.08 |
RSA
309-B:4, III; RSA 309-B:13 |
|
Ac
402.01 |
RSA
309-B:10; RSA 309-B:14 |
|
Ac
402.02 |
RSA
309-B:16; RSA 309-B:17; RSA 310:12 |
|
Ac
402.03 (repeal) |
RSA
309-B:10 |
|
Ac
402.03 |
RSA
309-B:17; RSA 541-A:30, III |
|
Ac
402.04 (repeal) |
RSA
309-B:10 |
|
Ac
402.04 |
RSA
309-B:16 |
|
Ac
402.05 (repeal) |
RSA
309-B:10 |
|
Ac
402.05 |
RSA
409-B:16 |
|
Ac
402.06 |
RSA
309-B:4, VI(h) |
|
Ac
402.07 (repeal) |
RSA
309-B:4 |
|
Ac
403.01 |
RSA
309-B:4, VI(c); RSA 309-B:7, III; RSA 309-B:7, VII |
|
Ac
403.02 |
RSA
309-B:4, VI(c); RSA 309-B:7, III; RSA 309-B:7, VII |
|
Ac
403.03 |
RSA
309-B:4, VI(c); RSA 309-B:7, III; RSA 309-B:7, VII |
|
Ac
404.01 |
RSA
541-A:16, I(b) |
|
Ac
404.02 |
RSA
309-B:4, VI(j) |
|
Ac
404.03 |
RSA
309-B:19 |
|
Ac
405.01 |
RSA
541-A:16, I(b) |
|
Ac
405.02 |
RSA
309-B:4, VI(g); RSA 309-B:8; RSA 309-B:18; RSA 309-B:19, I |
|
Ac
405.03 |
RSA
309-B:4, VI(g), RSA 309-B:7 |
|
|
|
|
Ac 501 |
RSA 309-B:4,
VI(d) |
|
Ac 502 |
RSA 309-B:14,
VIII |
|
Ac 503 |
RSA 309-B:4,
VI(d); RSA 309-B:14, XIII |
|
Ac 504.01 |
RSA 309-B:5,
X(c); |
|
Ac 504.02 |
RSA 309-B:5,
X(c) |
|
Ac 505 |
RSA 309-B:8,
VIII(d); RSA 309-B:18 |
|
Ac 506 |
RSA 309-B:14,
XIV |
|
Ac 507 |
RSA 309-B:4,
VI(d) |
APPENDIX B:
Incorporation by Reference Information
|
Rule |
Title |
Obtain at: |
|
Ac 402.02 |
AICPA Peer Review Program Manual, Audit and Assurance, version
November 2024 |
American
Institute of Certified Public Accountants 1211
Avenue of the Americas New
York, New York 10036 Phone:
1(212) 596-6200 Available
online at: https://www.aicpa-cima.com/cpe-learning/publication/aicpa-peer-review-program-manual-OPL Cost: Members of the AICPA or CIMA $335.00 Nonmembers
$415.00 |
|
Ac 405.02(c) and Ac 405.03(a) Ac 504.01 |
AICPA Peer Review Program Manual,
Audit and Assurance, version November 2024 AICPA Code of
Professional Conduct, Effective December 15, 2014
and updated for all official releases through August 31, 2016 |
American
Institute of Certified Public Accountants 1211
Avenue of the Americas New
York, New York 10036 Phone:
1(212) 596-6200 Available
online at: https://www.aicpa-cima.com/cpe-learning/publication/aicpa-peer-review-program-manual-OPL Cost: Members of the AICPA or CIMA $335.00 Nonmembers $415.00 American
Institute of Certified Public Accountants, Telephone (888)
777-7077 Downloadable
version is free online at |