Tag Archives: 2009

NASBA CEO and Chair Named to Accounting Today’s Top 100

NASHVILLE, TN (October 9, 2009) — David A. Costello, CPA, President of the National Association of State Boards of Accountancy (NASBA), and Thomas J. Sadler, CPA, Chair of NASBA, have been named as two of the “Top 100 Most Influential People in Accounting” by Accounting Today Magazine. In addition to serving as President & CEO…

Murray Sees Liability Concern

State Board Report October 2009 While 40 years ago there was minimal audit liability risk, there has been a dramatic acceleration of audit liability costs in the western world, with risk having reached 15 percent of audit revenues, Richard H. Murray, chief claims strategist of Swiss Re, told the FIAR attendees. He stated the shared…

FIAR Continues Regulators’ Dialogue

State Board Report October 2009 NASBA Chair David A. Costello called on the approximately 100 attendees at the second Forum for International Accounting Regulators to approach regulation in a positive manner: “Regulation should be positive; after all, it is done to protect the public interest. Regulation is now global as meltdowns affect everyone. So regulation…

Countries Told to Forgo Carve-Outs

State Board Report October 2009 Representatives from Bermuda, Canada, China, Denmark, Mexico, New Zealand, the Philippines, Poland, the United Kingdom and the State Boards of Accountancy were told by Fermin del Valle, former International Federation of Accountants chair, that they need to consider convergence of standards as adoption, not accommodation, of international standards. Addressing the…

Colorado State Board Accountancy Draft Letter on Board of Examiners 10/7/09

October 7, 2009 In August the Colorado State Board of Accountancy received a “Preview” copy of the document named “Content and Skill Specifications for the Uniform CPA Examination” from the Board of Examiners (BOE) and a cover letter addressed to State Board Executive Directors. As noted in the letter, the Preview includes “guidance on the…

Costello Decries IFRS Process

State Board Report October 2009 NASBA is not opposed to global standards, but to the process through which they have been developed and presented, NASBA President David A. Costello explained recently to representatives of the Financial Accounting Foundation. He described five concerns about the International Financial Reporting Standards (IFRS): 1‐ The International Accounting Standards Board,…

NASBA Amicus Texas Board

October 02, 2009 NASBA develops the Uniform Accountancy Act’s Model Rules. NASBA, along with the American Institute of Certified Public Accountants (AICPA), jointly prepares and promotes the Uniform Accountancy Act. NASBA also supports its member boards with briefs in state and federal courts. Other states have comparable accountancy laws to those of Texas, and which have…

NASBA Rallies International Regulators

NASHVILLE, Tenn., September 14, 2009 — International regulators representing over 20 jurisdictions assembled in San Francisco on September 10-11, for the Second Annual Forum of International Accountancy Regulators. The Forum — established by the National Association of State Boards of Accountancy (NASBA) in 2008 – is a unique roundtable devoted to the exchange of issues…

US IQAB-NZCIA MRA Signing Ceremony

State Board Report September 2009 On August 12, the NASBA/AICPA International Qualifications Appraisal Board (IQAB) signed a Mutual Recognition Agreement with the New Zealand Institute of Chartered Accountants (NZICA). Signing on behalf of US IQAB was Chair William Treacy, executive director of the Texas State Board of Public Accountancy. Signing on behalf of the NZICA…

Accounting Enrollment Up 4.7%

State Board Report September 2009 2007‐08 saw an increase in accounting enrollment of 4.7 percent, reports the AICPA’s 2009 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits, which can be downloaded from the AICPA’s Web site www.aicpa.org. Based on the responses from 241 schools, the survey found an equal…