N.M. Stat. Ann. § 61-28B-11 – Certificates issued to holders of a certificate, license or permit issued by another state; exception. Repealed effective July 1, 2030.)

A. The board may issue a certificate to a holder of a certificate, license or permit issued by another state upon a showing that the applicant:
1. (1) passed the examination required for issuance of the applicant's certificate with scores that would have been passing grades at the time in New Mexico;
2. (2) passed the examination upon which the applicant's out-of-state certificate was based and has met the accounting experience requirements within the ten years immediately preceding the application; and
3. (3) if the applicant's certificate, license or permit was issued more than four years prior to application, has fulfilled the board's requirements of continuing professional education.
B. An individual shall be granted the privilege to perform, or offer to perform, services without notice to the board or being certified, if the individual holds a valid license or permit in good standing as a certified public accountant or its equivalent issued by another jurisdiction in the United States; provided that the licensee, at the time of licensure, was required to provide evidence of having successfully completed a qualifying exam in accordance with the requirements of the licensing jurisdiction.
C. The board may issue a certificate to a holder of a foreign designation with comparable licensure requirements as determined by the board to be comparable to or to exceed the education, examination and accounting experience requirements of Paragraph (1) of Subsection A of Section 61-28B-26 NMSA 1978; provided that:
1. (1) the foreign authority that granted the designation makes similar provision to allow a person who holds a valid certificate issued by New Mexico to obtain such foreign authority's comparable designation;
2. (2) the foreign designation:
  1. (a) was duly issued by a foreign authority that regulates the practice of public accountancy and the foreign designation has not expired or been revoked or suspended;
  2. (b) entitles the holder to issue reports upon financial statements; and
  3. (c) was issued upon the basis of educational, examination and accounting experience requirements established by the foreign authority or by law; and
3. (3) the applicant:
  1. (a) received the designation based on comparable licensure requirements at the time the foreign designation was granted;
  2. (b) completed an accounting experience requirement in the jurisdiction that granted the foreign designation that has comparable licensure requirements or has completed four years of professional accounting experience in New Mexico; and
  3. (c) passed a uniform qualifying examination on national standards and an examination on the laws, rules and code of ethical conduct in effect in New Mexico that is acceptable to the board.
D. An applicant for initial issuance or renewal of a certificate pursuant to this section shall list all foreign and domestic jurisdictions in which the applicant has applied for or holds a designation to practice public accountancy. The applicant shall also list any past denial, revocation or suspension of a certificate, license or permit. An applicant or certificate holder shall notify the board in writing, within thirty days of the occurrence of any issuance, denial, revocation or suspension of a designation or commencement of a disciplinary or enforcement action by any jurisdiction.
E. The board has the sole authority to interpret the application of the provisions of this section.

History: Laws 1999, ch. 179, § 11; 2008, ch. 30, § 3; 2025, ch. 105, § 4.

ANNOTATIONS

Delayed repeals. — For delayed repeal of this section, see 61-28B-29 NMSA 1978.

The 2025 amendment, effective January 1, 2026, allowed individuals licensed in other jurisdictions to practice in New Mexico without obtaining additional certification as long as they meet the state's competency requirements; in the section heading, after "by another state" added "exception"; deleted former Subsection B and added a new Subsection B; and in Subsection C, in the introductory clause, after "foreign designation" added "with comparable licensure requirements as determined by the board to be comparable to or to exceed the education, examination and accounting experience requirements of Paragraph (1) of Subsection A of Section 61-28B-26 NMSA 1978", in Subparagraph C(3)(a), after "based on" deleted "educational and examination standards substantially equivalent to those in effect in New Mexico" and added "comparable licensure requirements" and in Subparagraph C(3)(b), after "foreign designation that" deleted "is substantially equivalent to the requirement provided for in the 1999 Public Accountancy Act" and added "has comparable licensure requirements", and after "New Mexico" deleted "meets equivalent requirements prescribed by the board within the ten years immediately preceding the application".

The 2008 amendment, effective May 14, 2008, in Subsection A, deleted the condition for the application of Subsection A that the applicant not qualify for reciprocity pursuant to the substantial equivalency standard and in Subsection B, changed the reference to the1999 Public Accountancy Act to Subsection A of Section 61-28A-26 NMSA 1978.