State Board Report

October 2007

The new proposed Uniform Accountancy Act Model Education Rules will be brought to the October NASBA Board of Directors meeting for their approval to distribute as an exposure draft. On October 11, the NASBA UAA Committee reviewed the proposal and recommended that the Board distribute the Rules for comment. Discussion of the Model Education Rules is on the agenda for the October 26, 2007 Board of Directors meeting.

The proposed changes differ from the Model Rules currently in Article 5 in the following areas, as Education Committee Chair Bill Atkinson explained to the Board of Directors at their last meeting:

– Added text for college/university, integration, independent study, internships and ethics.

– Minor changes in test related to schools with no accreditation.

– Added section on intent of the education requirements.

– All candidates, regardless of degree conferred or accreditation level, will need the same number of accounting hours. Minimum subject coverage changed to the subjects contained in the Board of Examiners’ “Content Specifications Outline.”

– Adds a minimum of two hours in research and analysis in accounting (either a discreet course or integrated)

– Changes subject coverage of 24-hour business component

– Adds a minimum of two hours in communications in business or accounting (either a discreet course or integrated)

– Adds a minimum of three hours in ethics in business or accounting (either a discrete or integrated)

– Changed “six hours for internships or life experience” to “six hours for internships and independent study.”

Not included in the proposed changes are any revisions to the total hourly requirement of 150 hours of education, per Section 5 c(2) of the Uniform Accountancy Act. In response to questions raised by state boards, NASBA staff members are collecting data on the impact of allowing candidates to take the examination before completing the 150-hour requirement. A report on their findings is expected soon.

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