Category Archives: Exposure Drafts & Discussion Papers

120/150 Hour Draft Paper – October 2008

October 2008 Adoption of the 150-hour requirement was not done in haste. The quest for the 150-hour education requirement goes back to the time when NASBA was called the Association of CPA Examiners and the American Institute of Accountants (AIA) was still not a part of the AICPA. The requirement was brought about by many…

Proposed Content and Skills Specs for the Uniform CPA Exam

August 1, 2008 The CPA Examinations Committee (CLEC) of NASBA has reviewed the Exposure Drafts and offers the following comments. CLEC has not completed the Exposure Draft Comment Form because we do not believe the Exposure Draft provides enough supporting data to reach an informed conclusion. Instead, we are making several suggestions that will enable…

120/150 Hours Draft- July 2008

July 2008 Adoption of the 150-hour requirement was not done in haste. The quest for the 150-hour education requirement goes back to the time when NASBA was called the Association of CPA Examiners and the American Institute of Accountants (AIA) was still not a part of the AICPA. The requirement was brought about by many…

120/150 Hours Draft – June 2008

June 2008 Adoption of the 150-hour requirement was not done in haste. The quest for the 150-hour education requirement goes back to the time when NASBA was called the Association of CPA Examiners and the American Institute of Accountants (AIA) was still not a part of the AICPA. The requirement was brought about by many…

Discussion Paper: Impact of Internationalization on Boards of Accountancy

June 2008 EXECUTIVE SUMMARY Assessment of Acceptable International Private-Sector Standard Setters – NASBA and boards of accounting may wish to independently perform their own assessment to conclude as to the acceptability of the IASB. Dual Reporting Systems for Both Public and Private Entities – While true internationalization may be a few years away, it is…

Government Agency Referral Task Force Explanatory Note

May 16, 2008 Government Agency Referral Task Force Preliminary Report on Referral Process Explanatory Note In January 2008, the Government Agency Referral Task Force (Task Force) sent a draft of a government agency referral process outline to all state boards and requested comments. The responses stated a clear understanding of the need for a process…

David Costello’s Statement Letter to the Department of Treasury

This Regulatory Model qualifies individuals for public practice that have 1)met specific minimum educational requirements; 2)demonstrated ability by passing a thorough uniform examination; 3) obtained appropriate experience under the supervision of others; 4) maintained current competency  through continuous education; and, 5) compiled with rigorous on-going regulatory processes that emphasize quality assurance. This Testimony highlights the…

Rules 5-1 and 5-2 Exposure Draft – August 2007

August 24, 2007 After over two years of collaboration, study and review, NASBA is posting an Exposure Draft of the UAA Model Education Rules 5-1 & 5-2 for your review. This draft was approved by the NASBA Board of Directors at the October board meeting and reflects the final draft framework provisions which we discussed…

UAA Committee Model Rules Exposure Draft

October 2006 The rules presented in this exposure draft are designed to be used to implement the Uniform Accountancy Act as last revised in December 2005. They were developed to give the accountancy boards guidance in many areas including compliance assurance and peer review, required ethics continuing professional education, ascertaining “good moral character,” and providing…