Bookmark and Share

State Board Report

November 2014

NASBA President Ken L. Bishop recommended serious discussions be held to close the gaps between State Boards’ codes of conduct and the AICPA’s, as well as the states’ implementation of the Uniform Accountancy Act. “While we will always stand behind states’ rights, we will try to persuade you to be uniform,” he told the Boards at the Annual Business Meeting. Mr. Bishop reviewed with the Boards some of the “Memos” he had written for the State Board Report over the past year, which emphasized the importance of considering change and the development of optimal and uniform solutions.

BishopAnnual“We need to do things right, but we also need to do right things,” President Bishop stated. “We have to have legal review, risk analysis, and consideration whether or not something fits into our strategic plan. Have we been transparent? We have to make sure that we don’t take shortcuts and that the Boards have adequate time to look at the issues.” He observed that CPAs are traditionally resistant to change, “but if we don’t change, we may put both CPAs and the consumers of professional services in harm’s way.”

It is important that the State Boards discuss what is the best method of continuing professional education for the future. “We have to have an open mind to changes in CPE,” Mr. Bishop stated. The Boards will need to consider possibilities such as nano learning and monitoring CPE electronically.

NASBA has a new task force that is reviewing the current nominating process, which was developed in 2004. This may ultimately call for process changes or even amending the Bylaws, Mr. Bishop said. The task force’s deliberations will be an open process and a report is expected from them by the beginning of 2015.

He reported that 50 jurisdictions are now using the NASBA International Evaluation Service (NIES), so that more than 60 percent of the international evaluations in the marketplace are now being performed by NIES. To leverage the expertise in evaluations developed by NIES, in August NASBA launched AEQUO International, a for-profit subsidiary offering international evaluation for non-accounting groups. James Suh has been named President and CEO of the new entity.

Looking at the financial report, President Bishop pointed out that the State Boards’ contribution to NASBA was $297,760 this year and, in return, the states received $7,694,477 worth of direct support from NASBA. President Bishop ended his presentation by reminding the audience that: “NASBA is mission driven, member focused and exists only for you.”

Related News

Full Issue

SBR