Wednesday, September 25, 2013
First Independent Bank, 2nd Floor
5335 Kietzke Lane
Reno NV 89511
Board Meeting can be accessed by dialing
Teleconference Number: (877) 873-8018
Participant Access Code: 2972156#.
The purpose of the workshop and the hearing are to receive comments from the accounting profession and all interested persons regarding the adoption, amendment and repeal of regulations that pertain to Chapter 628 of the Nevada Administrative Code. There will be two regulations considered: (A) R031-13 a regulation adopting the temporary regulations providing for experience requirements for certification of a certified public accountant, the provisions for verification of experience and continuing professional education, previously adopted June 12, 2013, as permanent regulations; and (B) R046-13 is a separate regulation adopting amendments to clean up and modify other provisions of the Board's administrative regulations and for the repeal of certain provisions of the Board's administrative regulations which are not necessary.
The following is provided pursuant to the requirements of NRS 233B.060 and NRS 233B.0603:
Statement of need and purpose:
The Board is required by NRS 628.200(3) to adopt regulations concerning the public accounting experience, internal auditing work, and governmental accounting and auditing work required by an applicant for a certificate of certified public accountant. The proposed regulation amends and updates the experience requirements for certification of a certified public accountant, the provisions for verification of experience and continuing professional education. The Board's current temporary regulation expires on November 1, 2013 pursuant to NRS 233B.063(3) and the Board seeks to permanently adopt the temporary regulation previously adopted on June 12, 2013.
The Board is required by NRS 628.120 to adopt regulations reasonably necessary and expedient for the orderly conduct of its affairs and for the administration of Nevada Revised Statutes ("NRS") Chapter 628. It has been approximately 10 years since the Board last amended it regulations. The purpose of the proposed amendments to the regulations is to reflect statutory amendments made to NRS Chapter 628 in recent years and other administrative changes the Board deems reasonably necessary and expedient for the orderly conduct of its affairs and for the administration of NRS Chapter 628.
Terms of the proposed regulations:
The proposed regulation amends the public accounting experience requirements, internal auditing work, and governmental accounting and auditing work required for a certificate of certified public accountant; amends the continuing professional education requirements for licensees performing attest work for a non-governmental agency or a governmental agency; and provides for other matters properly relating thereto.
The purpose of the proposed amendments to the regulations is to reflect statutory amendments made to NRS Chapter 628 in recent years and other administrative changes the Board deems reasonably necessary and expedient for the orderly conduct of its affairs and for the administration of NRS Chapter 628.
Copies of the proposed regulations, which adopt, amend and repeal provisions of the current regulations can be downloaded at http://www.nvaccountancy.com/temporary-regulations-2013.pdf and http://www.nvaccountancy.com/proposed-ammended-cleanup-2013.pdf. Copies can also be obtained by contacting the Board office at (775) 786-0231 or email firstname.lastname@example.org. The Legislative Counsel has not yet reviewed the proposed regulations or the temporary regulation the Board seeks to adopt as a permanent regulation. Copies of the approved or revised text of the proposed regulations prepared by the Legislative Counsel may be obtained by visiting the Board's website or by contacting the Board office as set forth above once available.
Estimated Economic Effect:
There are no known adverse economic effects of the proposed regulations on the accounting profession and the public. The beneficial effects are that the use of skills in accounting or auditing, finance, advising or consulting on matters relating to management, and the preparation and furnishing of advice relating to taxes will qualify as public accounting experience for certification. In addition, the beneficial effects of the proposed regulations are to clarify certain requirements for examination, licensure, firm registration and change in license status; updating fees for licensure, registration, individual reviews of experience, and extensions to obtain required continuing professional education; establishing a fee for copying documents pursuant to a public documents request; and repealing sections of the Board's regulations that are outdated. These modifications are proposed to the Board's regulations to reflect various statutory changes that have been made to NRS Chapter 628 in recent years and other administrative changes the Board deems reasonably necessary and expedient for the orderly conduct of its affairs and for the administration of NRS Chapter 628.
There are no known immediate or long-terms economic effects of the proposed regulations on the accounting profession and the public.
Estimated Cost to Agency:
There will be no cost incurred by the Board for the enforcement of the proposed regulation.
Overlap or Duplication of Regulations:
The proposed regulation does not overlap or duplicate the regulations of any other state or local governmental agencies or any regulating federal agency.
The proposed regulation is not required by federal law.
More Stringent than Federal Regulation:
The proposed regulation is not more stringent than a federal regulation that regulates the same activity.
New or Increased Fee:
The proposed regulation does establish a new fee for extensions of time to complete required continuing professional education to coincide with fees currently assessed under administrative complaints for continuing professional education delinquencies. The proposed regulation also adjusts the annual firm renewal and late filing fees so that they may be lowered in the future and to provide the Board with flexibility in assessing the annual fees, adjusts the fee to perform an individual review of experience, establishes a fee for copying documents in response to public document requests and repeals fees relating to temporary permits.
Statement of Methods to Determine Impact on Small Business:
The Executive Director shall conduct an investigation to determine if the proposed regulations are likely to impact a small business and will consult with owners and operators of small businesses likely to be affected by the proposed regulations prior to the workshop set in this matter. Prior to the workshop, the Executive Director shall prepare a small business impact statement and will make copies of the statement available to the public at the workshop and public hearing.
Comments & Written Submissions
Persons wishing to comment upon the proposed action of the Board may appear at the scheduled workshop or public hearing or may address their comments, data, views, or arguments in written form to:
Written submissions may be provided to the Board by September 9, 2013 at least fifteen days before the scheduled public hearing. If no person who is directly affected by the proposed action appears to request time to make an oral presentation, the Board may proceed immediately to act upon any written submissions.
Copies of Proposed Regulation
A copy of this notice and the regulation to be adopted, amended, and repealed will be on file at the State Library, 100 Stewart Street, Carson City, Nevada, for inspection by members of the public during business hours. Additional copies of the notice and the regulation to be adopted, amended, and repealed will be available at the Board office (see above) and in all counties in which an office of the Board is not maintained, at the main public library, for inspection and copying by members of the public during business hours. The text of each regulation will include the entire text of any section of the Nevada Administrative Code which is proposed for amendment or repeal. This notice and the text of the proposed regulation are also available in the State of Nevada Register of Administrative Regulations which is prepared and published monthly by the Legislative Counsel Bureau pursuant to NRS 233B.0653, and on the internet at http://www.leg.state.nv.us. Copies of this notice and the proposed regulation will also be mailed to members of the public upon request. A reasonable fee may be charged for copies if it is deemed necessary.
Upon adoption of any regulation, the Board, if requested to do so by an interested person, either before adoption or within 30 days thereafter, will issue a concise statement of the principal reasons for and against its adoption and incorporate therein its reason for overruling the consideration urged against its adoption.
This notice of hearing has been posted at the following locations and is available for viewing at:
Clark County Court House - Las Vegas
Las Vegas City Hall - Las Vegas
Washoe County Court House - Reno
Washoe County Library - Reno