The purpose of the workshop is to receive comments from all interested persons regarding the adoption, amendment and repeal of regulations that pertain to chapter 628 of the Nevada Administrative Code. Interested person may provide comments to the Board at the public hearing.
The following is provided pursuant to the requirements of NRS 233B.060:
1. Statement of need and purpose of the proposed regulation or amendment:
The regulation is required to establish the experience requirements for licensure of a Certified Public Accountant ("CPA") resulting from the amendment of NRS 628.200 by Assembly Bill 454 effective June 9, 2017 and to effectuate other changes to the Board's regulations resulting from Assembly Bill 454. The proposed regulation creates a peer review oversight committee and cleans up, revises and clarifies certain regulations governing the licensure of CP As in the State.
2. Terms or substance of the proposed regulation or subjects and issues involved:
The proposed regulation revises the provisions relating to the public accounting and other work experience requirements for licensure; revises provisions relating to the education required to take the certified public accounting examination and for licensure; deletes references to public accountant; revises the matters which must be reported by a practitioner or firm to the Board; revises the provisions relating to peer review; creates a peer review oversight committee of the practice-monitoring program and establishes the powers and duties of the committee; and provides for other matters properly related thereto. A copy of the proposed regulation is attached to this notice. The proposed regulation can also be obtained by visiting the Board's website at www.nvaccountancy.com or by contacting the Board office at (775) 786-0231 or email firstname.lastname@example.org.
3. Estimated economic effect on business and public:
(a) Both adverse and beneficial effects; and There are no known adverse economic effects of the proposed regulation on the accounting profession and the public. The beneficial effects of the proposed regulation are to clarify the requirements for education to sit for the CPA examination, the experience required for licensure, to clarify and clean up certain self-reporting and practice monitoring program provisions of the Board, and to remove references to public accountants. The proposed regulation defines and/or expands the type of work experience in the practice of public accounting, government, industry and/or business that qualifies for licensure. The changes to the Board's regulations reflect various statutory changes that were made to NRS Chapter 628 by AB 454 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. (b) Both immediate and long-term effects. There are no known immediate or long-term economic effects of the proposed regulation on the accounting profession and the public.
4. Estimated cost to agency for enforcement:
There will be no cost incurred by the Board for the enforcement of the proposed regulation.
5. 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.
6. Federal law:
The proposed regulation is not required by federal law.
7. More stringent than federal regulation:
The proposed regulation is not more stringent than a federal regulation that regulates the same activity.
8. New or increased fee:
The proposed regulation does not establish new fees and does not increase existing fees.
9. Small Business Impact Statement:
The Small Business Impact Statement is attached to this notice.
Comments & Written Submissions
Persons wishing to comment upon the proposed action of the Nevada State Board of Accountancy may appear at the scheduled public workshop or may address their comments, data, views, or arguments, in written form, to:
Nevada State Board of Accountancy
1325 Airmotive Way #220
Reno, Nevada 89502
Fax: (775) 786-0234
Written submissions may be provided to the Board by January 2, 2018, 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 the proposed 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 workshop has been posted at the following locations:
Clark County Court House - Las Vegas
Las Vegas City Hall - Las Vegas
Washoe County Court House - Reno
Washoe County Library - Reno