Tag Archives: SBR

State Board Report July 2011 The way the State Boards are regulating accountancy is under attack from three fronts, NASBA Legal Counsel Noel Allen told the Regional Meetings. First there have been over a dozen cases this year where the respondent to a Board’s action has challenged the Board’s authority. Second, there have been legislative…

State Board Report July 2011 “You’ll get mixed up, of course,As you already know.You’ll get mixed upWith many strange birds as you go.So be sure when you step.Step with care and great tactAnd remember that Life’sA Great Balancing Act.Just never forget to be dexterous and deft.And never mix up your right foot with your left.”(Excerpt…

State Board Report July 2011 On June 16, 2011, a Pennsylvania-based private equity group, along with management investors Mark Setash and Jeff Blake, acquired all the outstanding common stock of NASBA’s 100 percent owned subsidiary, Professional Credential Services. PCS was established in 1999 in order to allow NASBA to service Boards of Accountancy in states…

State Board Report July 2011 On June 24, 2011 the NASBA Nominating Committee met in Point Clear, AL, and selected the following individuals as their nominees for Directors-at-Large, Regional Directors and Nominating Committee, as reported by Nominating Committee Chair, Billy M. Atkinson (TX): Directors-at-Large (three-year terms) Richard Isserman (Delegate – NY)Kenneth R. Odom (Delegate –…

State Board Report July 2011 Professional ethics issues currently being deliberated, the ongoing codification of existing ethics standards and what is meant by the public interest, standard setting for private companies, changes in the Uniform Accountancy Act and Model Rules were all topics presented at the 2011 Regional Meetings, held June 8-10 in Omaha, NE,…

State Board Report July 2011 Boards can be more effective if they are independent, State Board Relevance and Effectiveness Committee Chair Bucky Glover (NC) told breakout session participants at the Eastern Regional. “Our Committee is here not to move you to complete independence, but to help you with moving toward independence,” he explained. “Independence” for…

State Board Report July 2011 GAAP is integral to the State Boards’ complaint-based enforcement system, the yardstick for enforcement, NASBA Director-at-Large Gaylen Hansen reminded the Securities and Exchange Commission’s July 7, 2011 roundtable discussion on the potential impact of U.S. adoption of International Financial Reporting Standards. The more sets of standards there are, the more…

Abbreviations Heard at Meetings of the National Association of State Boards of Accountancy AAA – American Accounting Association AACSB – American Assembly of Collegiate Schools of Business ACAP – Advisory Committee on the Auditing Profession (US Treasury Department) ACCA – Association of Chartered Certified Accountants ACAT – Accreditation Council for Accountancy and Taxation (NSA affiliated…

State Board Report December 2010 All interested parties are invited to comment on the latest exposure draft on the changes to the Uniform Accountancy Act and its Model Rules concerning CPA firm names. The joint AICPA/NASBA changes were approved for distribution by the NASBA Board of Directors in October and by the AICPA Board of…

State Board Report December 2010 An analysis to evaluate the effectiveness, economy and accountability of merging the Washington State Board of Accountancy into the Washington State Department of Licensing found such a merger would “result in a significant decrease in the accountability of the Board to the public and the profession” with “little or no…