Category Archives: State Board Reports

Peer Review at the Crossroads

State Board Report July 2015 The past, present and future of peer review were considered by a Regional Meeting panel composed of NASBA Vice President – State Board Relations Daniel J. Dustin, Compliance Assurance Committee Chair Janice L. Gray (OK) and Regulatory Response Committee Chair W. Michael Fritz (OH). Mr. Dustin looked at how the…

Bringing Boards Into the DOL Loop

State Board Report July 2015 The May 2015 report from the Office of the Chief Accountant, Employee Benefits Security Administration (EBSA), U.S. Department of Labor (see SBR 6/15) on the quality of employee benefit plan audits performed by independent qualified public accountants was "a call to action," NASBA Executive Vice President and COO Colleen K.…

Focus on CPA Exam Statistics

State Board Report July 2015 Well over half of the Uniform CPA Examination candidates have passed all four parts within the 18-month window, NASBA Director – Continuous Improvement and Analytics James Suh reported to the Regional Meetings. In 2014 there were 91,384 unique candidates taking parts of the Examination, with 25,643 passing their fourth part.…

Research on Candidates’ Characteristics

State Board Report July 2015 Informative results of the three 2014 -15 NASBA Accounting Education Research Grants were reported at the Regional Meetings: Professor Martin G. Fennema reported on his Florida State University research team’s work on "Are Accountants Made or Born?" They found that the natural ability to perform accountingrelated tasks appears to be…

President’s Memo: I Am Smiling…

State Board Report July 2015 I recently came upon a quote from fellow Missourian, actor and author Gillian Flynn, which read: "I am smiling a big adopted orphan smile as I write this…" It had special meaning to me as I will always remember the smile on my adopted daughter’s face when the judge, a…

Sept. Release for Exam Exposure Draft

State Board Report July 2015 The AICPA is preparing for the September release of the exposure draft covering the blueprints, structure and design for the next version of the Uniform CPA Examination, AICPA Vice President – Examinations Michael A. Decker told the Regional Meetings. "The key thing we learned from the practice analysis was that…

Nominating Committee Announces Slate

State Board Report July 2015 The NASBA Nominating Committee met on June 26, 2015 in Baltimore and selected the following individuals as their nominees for Directors-at-Large and Regional Directors, as reported by Nominating Committee Chair Carlos E. Johnson: Directors-at-Large (three-year terms) Tyrone E. Dickerson (Associate – VA) Raymond N. Johnson (Associate – OR) E. Kent…

50 Boards Represented at Regionals

State Board Report July 2015 NASBA’s Regional Meetings, held June 17-19 in Coronado, CA, and June 14-16 in Baltimore, brought together representatives of 50 of the 55 Boards of Accountancy, NASBA President Ken L. Bishop proudly announced at the meetings. However, he added, "We will be at our strongest when we have every jurisdiction represented."…

June 2015 – Full Issue

Madoff’s CPA Sentenced

State Board Report June 2015 David G. Friehling, the outside auditor for Bernard L. Madoff Investment Securities LLC, the Ponzi scheme that came to light in 2008, was sentenced in May by Judge Laura Taylor Swain, in the Federal District Court in New York, to two years of supervised release, including one year in home…