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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 family friend, said: "I now pronounce you father and daughter!" As I was writing some notes in preparation for this fiscal year’s final President’s Memo, and thinking of the many accomplishments we have achieved this year, it caused me to smile and think of Gillian’s quote.

June and July are busy months for me and the NASBA staff with the Regional Meetings, budget development, end of year’s assessments and financial reports, and the fiscal year-end Board of Directors’ meeting. It is a transitional time in which to reflect but also to look forward. In doing so, it becomes evident that we have plenty to smile about.

Let me start with the hugely successful Regional Meetings in California and Maryland. It was satisfying to have such great attendance and participation with 50 states and territories represented, including New York, California and Utah, states that have not been able to regularly attend in the recent past. NASBA’s strength and relevance comes from you, our Boards of Accountancy. We should all be smiling about this unprecedented level of participation.

At our recent meetings we talked a lot about developing and nourishing trusted relationships with associations, federal and international agencies, educators, accreditors and a multitude of outside stakeholders. This year we have seen those relationships pay huge dividends for Boards of Accountancy. Our opportunity to work closely with the Department of Labor (DOL) and AICPA resulted in a cooperative and collaborative response to the DOL’s public concerns about audit quality and to develop practical support for timely and effective State Board enforcement and disciplinary processes. Our close relationship with the Financial Accounting Foundation (FAF) has insured that NASBA’s and Boards of Accountancy’s positions and concerns are considered and addressed as GASB, FASB and PCC develop new standards and policies. The same can be said for the IRS, the PCAOB and others. The relevance of the State Accountancy Boards’ regulation of the profession gained significantly this year. That makes me smile!

We will be reporting to the NASBA Board of Directors that this year has been another year of business and service success. NASBA continues to be well funded and capable of providing an unprecedented level of services and support to Boards of Accountancy. This past year we set a new record of direct mission support of our Boards, providing legislative support, legal support, communication tools and a myriad of other products and services to assist the Boards. That directly reflects our mission, and we hope it makes you smile.

In short, this has been an amazing year. The level of involvement and participation of our volunteers is continuing to make a positive difference. As we begin planning for entering the new fiscal year, we will leverage the momentum of this year. I hope each of you is having a wonderful summer — and that this Memo makes you smile!

Semper ad meliora. (Always toward better things.)

— Ken L. Bishop
President and CEO

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