Annual Meeting NASBA’s Chair’s Report

2008 Annual Meeting

2007-2008 Priorities

• Implement mobility legislation in 30 states

• Strengthen the CPA exam and prepare for the contract expiration in 2014

• Consider international delivery of the CPA exam

• Improve communications with other U.S. regulatory agencies

• Coordinate with international regulators

• Establish Compliance Assurance Review Board

• Enhance communication tools 2007-2008 Accomplishments

• Mobility legislation passed in 31 states

• Accountancy Licensee Database fully implemented in 15 jurisdictions.
Task force moving to implement in all 55 jurisdictions

• May exam conference provided important feedback on the future of the CPA exam

• State board representatives provided meaningful and significant input to the Board of Examiners

• Model for state-based international delivery of the exam in process

• Revised Uniform Accountancy Act Model Rule on education approved

• Comment letters on proposed rules/standards that could impact state regulation

• Draft paper published on 120 hours to sit and 150 hours for licensure issue

• Significant input to the U.S. Treasury Department Advisory Committee on the Auditing Profession

• Many meetings and conferences with federal regulators

• Mutual Recognition Agreements renewed with Canada and Mexico

• International Regulators Conference to be held with annual meeting

• Strengthening state boards’ Peer Review Oversight Committees

• Increased information on NASBA Website as pages for Legislative Support Committee, Communications Committee and Executive Directors Committee launched