Mobility Legislation - 2011
On August 17, 2011, Governor Andrew Cuomo signed into law legislation that provides a practice privilege for CPAs licensed in other jurisdictions that the Board of Regents has deemed to have substantially equivalent licensing requirements as New York. The law applies to out-of-state licensed CPAs whose principal place of business is in another state. Out-of-state licensed CPAs would be subject to the regulatory authority of the Regents for any services provided when providing professional services in New York. This new law is effective November 15, 2011.
Among other things, the new law provides that an out-of-state licensed certified public accountant who is authorized to practice public accountancy through a practice privilege must do so through a public accounting firm registered in this state if the CPA provides any compilation or attest services in this state. An out-of-state CPA who is authorized to practice public accountancy through a practice privilege and who does not provide compilation or attest services in this state, may choose to register a public accounting firm, but is not required to do so. Further, the new law provides that an out-of-state licensed CPA who been subject to certain disciplinary action within the last seven years must provide notice to the Department and receive written permission from the Department before he/she is allowed to practice in New York.
Out-of-state licensed CPAs whose principal place of business is in New York must apply for a New York State license if employed by a public accounting firm or in private industry, government or academia when such employment is considered to be within the scope of practice of public accountancy in New York. Please note that the scope of practice in New York was expanded in 2009 to include any accounting, tax, finance or management advisory work that a CPA does in the fields listed above, regardless of whether an independent report or opinion is issued. Individuals should contact the State Board for Public Accountancy office with questions about employment within the scope of practice of public accountancy.
Prior to November 15, 2011
An out-of-state licensed CPA conducting an attest or compilation engagement in New York must hold a temporary practice permit to perform such services. In addition, the public accounting firm employing such CPA must also obtain a registration with the State Education Department.