State Board Report
Following a spirited discussion, the NASBA Board of Directors agreed to expose for comment a proposed amendment to the Uniform Accountancy Act, Section 14(q) which would allow management accountant titles to be used as an accounting designation in restricted circumstances. The Board agreed to an exposure period no shorter than September 30, 2017 and requested that the State Boards thoroughly consider the proposal and communicate their conclusions to the NASBA Board. On April 28 the AICPA Board of Directors approved the proposed language for exposure for comment as well.
NASBA Uniform Accountancy Act Committee Chair J. Coalter Baker (TX) thanked NASBA Vice President Dan Dustin and AICPA Vice President Mat Young for their work on developing title language for all to consider. Mr. Baker described the many iterations the language went through and the conference calls held before the current proposed language was arrived at. Mr. Baker stressed the importance of having the State Boards respond to the exposure draft as to whether they believe it should be included in the UAA and if they agree with the language as proposed or would suggest some changes. He reported the Texas Board of Accountancy is hiring a polling firm to update the study they did ten years ago in order to determine what titles the public believes are licensed and regulated.
With credentials coming into the marketplace, questions have been raised if UAA Section 14(g) covers them. UAA Section 14(g), which many states have adopted, currently says:
No person or firm not holding a valid certificate, permit or registration issued under Sections 6, 7, or 8 of this Act shall assume or use the title “certified accountant,” “chartered accountant,” “enrolled accountant,” “licensed accountant,” “registered accountant,” “accredited accountant,” or any other title or designation likely to be confused with the titles “certified public accountant” or “public accountant,” or use any of the abbreviations “CA,” “LA,” “RA,” “AA,” or similar abbreviation likely to be confused with the abbreviations “CPA” or “PA.” The title “Enrolled Agent” or “EA” may only be used by individuals so designated by the Internal Revenue Service.
The proposed language would allow titles like CMA and CGMA to be used with certain restrictions. See the exposure draft on www.nasba.org.
NASBA’s Regional Directors will be reaching out to their Boards to encourage them to carefully consider the proposal. It will also be discussed at the Regional Breakout sessions during the Regional Meetings.
“The exposure process is critical in allowing State Boards to give us information and opinions on changes to the UAA that are being considered,” President Ken Bishop told the NASBA Board.
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