TRENTON, N.J. – A bill that will allow nonresident certified public accountants to prepare financial statements, perform reviews and provide other attestation services in New Jersey without registering with the state Board of Accountancy was signed into law Monday.
The bill (A4633), sponsored by Assemblywoman BettyLou DeCroce, clarifies that such CPAs can offer these services without having a physical office in the state. It updates changes that were made in January 2019 to the “Accountancy Act of 1997.”
“The wording excluded nonresident CPAs from providing these important attesting services,” DeCroce (R-26) said. “Even though they don’t have to register with the state, companies should know these CPAs are subject to full regulatory oversight of the board.”
Companies hire CPAs to independently review financial statements and other internal data, such as consumer privacy policies. The American Institute of Certified Public Accountants oversees attestation service standards.
The law takes effect immediately.