New Mexico has earned itself a serious reputation in national business circles. According to research and analytics firm IBISWorld, New Mexico’s mining, quarrying, and oil and gas extraction industry expanded by a staggering 28.6 percent in 2018. Bringing in $10 billion per year to the state GDP, it’s the second largest industry in the state. There is a lot of accounting to go along with natural resource extraction. Payroll, import/export calculations, and the complexities of dealing with safety and government regulation are all driving significant demand for CPAs in the Land of Enchantment.
Featured Programs: Sponsored School(s) Featured Bachelor Programs SPONSORED SCHOOL(S) Featured Program: Online AS and BS in Accounting with focus of Finance or Forensic Accounting Featured Program: Online BS in Accountancy Featured Program: B.S. in Accounting Featured Program: Bachelor of Science in Accounting & Data Analysis Featured Program: Bachelor of Science (B.S.) in Business Administration - Accounting Featured Masters Programs SPONSORED SCHOOL(S) Featured Program: Online MBA and MS in Accounting with numerous focus options Featured Program: Master of Science in Accounting – General Featured Program: M.S. in Accounting Featured Program: Master of Business Administration (M.B.A.) - Accounting Featured Program: Master of Accountancy and Analyticsa. Contact New Mexico colleges and universities with accounting programs to ask for information. The New Mexico Public Accountancy Board states that all certified public accountants practicing in the state need at least a bachelor’s degree with 150 total semester hours of college credit including 30 semester hours in accounting.
With the standard bachelor’s degree in accounting consisting of just 120 semester hours, going on to earn a post-baccalaureate certificate or master’s in accounting represents the most tried and tested way to get those 30 additional credits. Many of these programs are available entirely online. You can also find specialized five-year CPA track programs that offer a blended bachelor’s and master’s curriculum designed to give you the 150 semester hours you need to meet CPA requirements in New Mexico.
b. T he New Mexico Public Accountancy Board recognizes all degrees and programs that meet these accreditation standards:
If you attended a foreign college or university, your academic credentials must be evaluated by a member agency of the National Association of Credential Evaluation Service (NACES). Evaluations and foreign school transcripts must be submitted to CPA Examination Services directly from the evaluation agency.
FIND SCHOOLS Sponsored Contentc. Meet CPA degree and curriculum requirements set by the New Mexico Public Accountancy Board. You must have a bachelor’s degree or higher with 150 semester hour credits, 30 of which must be in accounting or auditing courses. Some other points worth noting:
Under New Mexico Public Accountancy Board regulations, once you have earned a bachelor’s degree and completed at least 30 semester hours of accounting, you may sit for the Uniform CPA Exam.
b. Submit the appropriate documentation with your application
As needed, also include:
c. Receive your Notice to Schedule (NTS) the Uniform CPA Exam, which will be sent to you by the National Association of State Boards of Accountancy (NASBA).
d. Go to Prometric’s website to schedule your examination. . New Mexico sites include:
e. Arrive at the correct Prometric examination site on your chosen day ready to test.
f. Wait to receive your scores from NASBA. Once your exam has been scored, the results will be mailed to you.
For detailed information on the Uniform CPA Exam, click here.
Every practicing CPA in New Mexico must have fulfilled the state’s work experience requirement.
a. First, you must pass the American Institute of Certified Public Accountants (AICPA)’s Home Study Course on Professional Ethics. Order this course here through the New Mexico Society of Certified Public Accountants.
b. The New Mexico Public Accountancy Board requires CPA candidates to have at least one year (2000 hours) of paid or volunteer public accounting experience. Your college’s career center can assist you in locating suitable opportunities. Experience must meet the following criteria:
c. After your supervising CPA has completed the form, he or she must return it to you in a sealed envelope that has been signed by the verifying CPA. You must then send the form to: New Mexico Public Accountancy Board, 5200 Oakland Avenue, Suite D, Albuquerque, NM 87113.
d. If your verifying CPA is not licensed in New Mexico, complete Section 1 of the Interstate Notification of Verifying CPA’s License form (included in the Application for Certification packet). Your verifying CPA must complete Section 2 of the form. Then the form must be forwarded to the State Board that holds your verifying CPA’s license. This State Board will complete the form and forward it to the New Mexico Public Accountancy Board.
You are now ready to apply for CPA Certification. Check that you have completed the following steps:
b. Apply for your New Mexico CPA Certificate.
Interstate Reciprocal Certificate
If you hold a CPA certificate or license from another state and want to practice as a CPA in New Mexico, you may apply for a CPA Certificate by Reciprocity.
International Reciprocal Certificate
The New Mexico Public Accountancy Board recognizes accounting credentials from certain international jurisdictions as being substantially equivalent. If you hold a CPA license from any of the international jurisdictions listed below, you may seek reciprocal CPA certification by taking the International Qualification Examination (IQEX):
If you hold credentials from one of these licensing bodies:
If you hold a CPA license from an international jurisdiction other than those listed above, you must follow the regular New Mexico licensing procedure, starting with an education credential evaluation and taking the Uniform CPA Exam.
If you hold a New Mexico CPA Certificate, you must satisfy the continuing professional education (CPE) requirements set by the New Mexico Public Accountancy Board.
a. Fulfill 120 hours of CPE every three years
b. Enroll in the following approved CPE formats:
c. Avoid the following formats, which do not count towards CPE credit:
d. Maintain records of your CPE hours for at least five years. These records must include:
e. Find approved CPE programs through:
Now that you’re a CPA in New Mexico
Congratulations! You have become a licensed CPA in New Mexico! Think about joining the American Institute of CPAs (AICPA). This national professional organization offers members professional development and networking opportunities, continuing professional education programs and professional guidance. Also, consider becoming a member of the local New Mexico Society of Certified Public Accountants.
Think about specializing in a sub-discipline of accounting! Possibilities in New Mexico include information systems accounting, management advisory and consulting, financial planning, or even careers with the IRS!