State Board Report
At their meeting on April 19, after discussing public protection implications surrounding the lack of authoritative standards for “other comprehensive bases of accounting” (OCBOA) reporting, the NASBA Board of Directors resolved to reach out to the State Boards to share such concerns. The Board further resolved to develop, through appropriate channels, Model Rules which would provide structure for the Boards’ oversight of non-authoritative OCBOA for reporting purposes.
The Board also approved the appointment of Ronald E. Nielsen (IA) as vice chair of the CPA Examination Review Board and Douglas E. Warren (TN) as a new member of the ERB.
Chair Gaylen Hansen (CO) led the Board members in discussion of several issues that have been raised recently, including: the Canadian CPA , the qualifications for the CGMA, international standard setting and the Private Company Council. All of these topics will be discussed with representatives of the member Boards during NASBA’s Regional Meetings in June.
NASBA Uniform Accountancy Act Committee Chair Kenneth R. Odom (AL) updated the Board of Directors on the work of the task forces focused on developing language to revise the definition of “attest” in the UAA and to map out uniform language on firm mobility, which several states already have in place. These concepts will also be discussed with attendees at the Regional Meetings during both plenary and breakout sessions.
President Ken L. Bishop described how every operational unit in NASBA is being held responsible for fulfilling the strategic plan. When NASBA considers taking on a project, it is measured on a scale to determine how it either supports the State Boards or produces revenues that can be used to support them, he explained. He pointed to the Communications groups’ efforts in providing free services to the Boards that want assistance with producing newsletters, annual reports, brochures and videos.
NASBA will be holding a State Board Peer Review Oversight Committee (PROC) Summit on July 10, 2013 in Nashville.
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