Yes. Statutes and regulations that give the licensing board its authority to grant licenses, also gives them the power to suspend or revoke licenses based upon findings of wrongdoing by the licensee.
Licensees have a right to counsel and it is very important that the licensee have counsel, preferable with experience in licensing and discipline matters to represent their interest before the board.
If you believe your NJ licensing board will be investigating you, I urge you to speak with an experienced licensing defense attorney in New Jersey as soon as possible.
If you would like to contact me, I can be reached at 973-377-0007. The initial consultation is free.