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Giblin Bill Permitting Out-of-State Certified Public Accountants to Provide Certain Services in New Jersey Advanced by Committee

In an effort to make it easier for companies to conduct business across state borders, Assemblyman Thomas Giblin sponsors a bill that would remove some of the existing requirements for out-of-state Certified Public Accountants (CPAs) to provide certain services in New Jersey. The legislation was recently advanced by the Assembly Regulated Professions Committee.

Part of a CPA’s job is to provide attestation services that confirm the reliability of a company’s financial statements. Giblin’s bill revises certain provisions of existing New Jersey law regarding attestation to conform with the Uniform Accountancy Act, which is national legislation that provides a uniform approach to regulating the accounting profession.

Under the bill (A-4633) non-resident CPAs would be allowed to provide attest services in New Jersey without having to register with, notify or pay a fee to the New Jersey State Board of Accountancy. Although these out-of-state professionals would no longer face those requirements, they would still be subject to full regulatory oversight by the board.

Upon the legislation advancing, Assemblyman Giblin (D-Essex, Passaic) issued the following statement:

“It is quite common these days for companies to have multiple locations or conduct their business in more than one state. Forcing CPAs to obtain a different license from every state in which their companies do business poses an unnecessary burden. Implementing a uniform policy for CPAs who want to provide services for New Jersey companies – regardless of where the accountant is based – will help our businesses receive the services they need in a timely manner.” 

The measure now heads to the Assembly Speaker for further consideration.