A. The board may take, after providing a person due process pursuant to the Uniform Licensing Act [61-1-1 to 61-1-31 NMSA 1978], corrective action identified in Subsection B of this section following a finding that an applicant or licensee:

1. (1) committed fraud or deceit in obtaining a certificate or permit;
2. (2) lost a certificate or permit through cancellation, revocation, suspension or refusal of renewal in any other state for cause, as defined by board rule;
3. (3) failed to maintain compliance with the requirements of the 1999 Public Accountancy Act and board rules for issuance or renewal of a certificate or permit or failed to report material changes to the board, as required by board rule;
4. (4) lost the authorization to practice in any state or before any federal agency through revocation or suspension of that authorization;
5. (5) committed dishonest, fraudulent or grossly negligent acts in the practice of public accountancy or in the filing or failure to file the applicant's or licensee's own income or other federal, state or local tax returns;
6. (6) violated a provision of the 1999 Public Accountancy Act or a rule promulgated by the board pursuant to that act;
7. (7) violated a rule of professional conduct promulgated by the board pursuant to the 1999 Public Accountancy Act;
8. (8) has been convicted of a felony or of a crime an element of which is dishonesty or fraud under the laws of the United States, of New Mexico or of any other state, or of any other jurisdiction, if the acts involved would have constituted a crime under the laws of New Mexico;
9. (9) performed a fraudulent act while holding a certificate or permit issued pursuant to the 1999 Public Accountancy Act or prior law; or

10. (10) participated in any conduct reflecting adversely upon the applicant's or licensee's fitness to engage in practice.

    B. After a finding by the board that an applicant or licensee has committed a violation identified in Subsection A of this section, the board may take, with or without terms, conditions and limitations, one or more of the following corrective actions:

11. (1) deny an application or revoke a certificate or permit issued pursuant to the 1999 Public Accountancy Act or corresponding provisions of prior law;
12. (2) suspend a certificate or permit for a period of not more than five years;
13. (3) reprimand, censure or limit the scope of practice of a licensee;
14. (4) impose an administrative fine not exceeding ten thousand dollars ($10,000); or

15. (5) place the licensee on probation.

    C. In lieu of or in addition to a remedy specifically provided in Subsection B of this section, the board may require of a licensee:

16. (1) a quality review conducted in such a fashion as the board may specify;
17. (2) satisfactory completion of such continuing professional education programs as the board may specify;
18. (3) correction of the violation identified; and

19. (4) any other suitable remedial action as determined by the board.

    D. In a proceeding in which a remedy provided by Subsection B or C of this section is imposed, the board may also require the respondent to pay the costs of the proceeding.

    E. The provisions of Section 61-1-3.2 NMSA 1978 notwithstanding, the board may impose a civil penalty in an amount not to exceed two thousand dollars ($2,000) against a person who engages in public accountancy without a license. In addition, the board may assess the person for administrative costs, including investigative costs and the cost of conducting a hearing.

History: Laws 1999, ch. 179, § 20; 2007, ch. 219, § 3; 2017, ch. 52, § 12.

ANNOTATIONS

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

The 2017 amendment, effective June 16, 2017, provided that the New Mexico public accountancy board may impose a civil penalty not to exceed two thousand dollars ($2,000) and assess certain costs against any person who engages in public accountancy without a license; and added Subsection E.

The 2007 amendment, effective June 15, 2007, increases the maximum administrative fine in Paragraph (4) of Subsection (B) from $1,000 to $10,000.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 1 Am. Jur. 2d Accountants § 6.

Bias of members of license revocation board, 97 A.L.R.2d 1210.

Regulation of public accountants, 4 A.L.R.4th 1201.

Liability of independent accountant to investors or shareholders, 35 A.L.R.4th 225.

Liability of independent accountant to investors or shareholders, 48 A.L.R.5th 389.

1 C.J.S. Accountants §§ 6 to 9.