| Committee of Jurisdiction: | Banking, Commerce and Insurance |
| Occupation Regulated: | Certified Public Accountants (CPAs) and CPA Accounting Firms |
| Occupational Board: | Nebraska State Board of Public Accountancy |
| Contact: | Dan Sweetwood |
| Purpose: | • 1-105.01. Nebraska State Board of Public Accountancy; purpose. It is the purpose of the Nebraska State Board of Public Accountancy to protect the welfare of the citizens of the state by assuring the competency of persons regulated under the Public Accountancy Act through (1) administration of certified public accountant examinations, (2) issuance of certificates and permits to qualified persons and firms, (3) monitoring the requirements for continued issuance of certificates and permits... |
| Regulated Professionals: | Active CPAs 2,764; InActive Registrants 1,218; Certificates 1,273; CPA Firms 570 |
| Year Created: | 1957 |
| Year Active: | 1957 |
| Sunset Date: | N/A |
| Government Certificates Issued: | 5817 |
| Issued Certificate Descriptions: | Certificate Holder: The Board issues a Certificate to those that have successfully passed the Uniform CPA Examination. A Certificate Holder cannot hold out as a CPA. They must register their certificate with the Board annually.
Active Permit Holders (CPAs): The Board issues biennial Active Permits to Practice Public Accountancy to those applicants who have successfully completed the Uniform CPA Examination; an ethics examination; and required experience provisions as outlined within the Public Accountancy Act. Active Permit Holders must complete 80 hours of Continuing Professional Education (CPE) every two years to renew their Active Permit to Practice. An Active Permit Holder can hold out to the public as a Certified Public Accountant (CPA).
InActive Registrants: The Board issues biennial InActive Registrations to those Active Permit Holders who choose to not hold out as an Active Permit Holder (CPA) and practice public accountancy. They also do not have to complete and submit CPE to the Board. They can reinstate to an Active Permit Practice after completing 120 hours of CPE within the preceding three years.
CPA Firm Permit: The Board issues annual Permits to Practice to CPA firms who meet requirements within the Nebraska Public Accountancy Act. This includes proper forms of practice and ownership requirements.
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| Government Certificates Revoked: | 20 |
| Revoked Certificate Descriptions: | Over the course of the survey the Board has revoked three permits/certificates involving felony convictions while the vast majority of others (up to 10-15 annually) are considered administrative revocations for those who do not comply with renewal provisions and fail to stay in contact with the Board. |
| Government Certificates Denied: | 5 |
| Denied Certificate Descriptions: | The vast majority of candidates who apply to sit for the Uniform CPA Examination are highly motivated and prepared to meet the technical education requirements as outlined within Neb. Rev. Rules under Title 288/Chapter 9 to sit for the examination. Around 5 candidates a year require initial screening and advise upon submitting their application and are initially denied; however, having completed follow-up requirements eventually sit for the examination. A candidate may also have a criminal record and come under current regulations under Neb. Rev. Rules Title 288/Chapter 6 requiring the Board to review the matter. |
| Government Certificates Penalties Against: | 9 |
| Penalty Certificate Descriptions: | The intent of the Board’s regulatory program is to be educational in practice when possible. When necessary the Board disciplines CPAs and CPA firms for a wide range of failures to adhere to the various accounting professional standards referenced within the Public Accountancy Act and the Nebraska Rules of Professional Conduct. These include sanctions issued by other regulatory agencies including the Securities and Exchange Commission (SEC), the Public Accounting Oversight Board (PCAOB), the Nebraska State Auditor’s Office and others. Other discipline is issued after inquiries based on complaints from the public. CPA firms must also successfully complete the requirements under the national AICPA’s Peer Review Program |
| Explanation of Effectiveness: | https://nebraskalegislature.gov/pdf/SurveyDocs/explanation1633541600.pdf |
| Potential Harm | See above |
| Regulation Comparison: | https://nebraskalegislature.gov/pdf/SurveyDocs/comparison1633541600.pdf |
| Subject to Regulations of Act(LB407): | No |