Certified public accountants (CPAs) became entangled in discord over whether forensic accountants need to obtain a private investigator’s license in order to carry out the duties of their job. The issue was sparked by a private investigator in New Mexico, who proclaimed that PI licensure might be a requirement for current forensic accountants in the state.
The claim prompted forensic accountants to contact the New Mexico Society of CPAs, which recently set up a joint meeting with forensic accountant leaders to discuss the issue. Later, the state board of CPAs decided that forensic accountants do not need a PI license to engage in the regular course of their profession.
More than 40 states have created legislation requiring the licensing of PIs or detectives. Some states, like New Mexico, exempt CPAs from obtaining a PI license, while others include CPAs for PI licensing.
Read more about state licensing for PIs and CPAs here.