State Board Report

June 2007

Though the “no notice, no fee, no escape” revisions to Section 23 of the Uniform Accountancy Act have not yet been finalized by the AICPA and NASBA Boards of Directors, some states have already moved ahead with the concept described in the revisions. Most recently, such legislation passed in Maine (Bill LD 751, which affects Title 32 MRSA §12251, sub-§4-B), Tennessee (Senate Bill 443 can be found at www.legis.state.tn.us/bills/current.ga/BILL/SB0443.pdf) and Texas (House Bill No. 2144 can be found at www.legis.state.tx.us/tlodocs/80R/billtext/pdf/HB02144F.pdf).

The AICPA/NASBA Uniform Accountancy Act Committee met on May 24 in Washington, DC, to review the comments received on the exposure drafts for both the UAA Statute and Model Rules and make modifications to the drafts as appropriate. The NASBA Board of Directors will vote on the final versions of both the revised statute and Model Rules at their July 27 meeting. The members of the AICPA Board of Directors are scheduled to vote on the finalized statute changes when they meet on July 12.

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