The Auditing Standards Board met in the recently expanded NASBA Nashville headquarters on July 23-26 to consider issues including financial reporting for employee benefit plans. In attendance was the chief auditor of the U.S. Department of Labor Michael Auerbach. NASBA Past Chair Gaylen R. Hansen (CO), a member of the ASB, commented: “Everything I heard from the ASB members was overwhelmingly complimentary of NASBA staff and the facility on the 8th floor.”

Mr. Hansen reported that the ASB voted to revamp the audit standard governing the entire U.S. financial reporting of employee benefit plans.

This three-year project was undertaken by a task force including Maine Board of Accountancy Chair Tracy Harding. Mr. Hansen commented, “There will be a few tweaks left to the EBP project, but today (July 26) was the landmark event.”

Other State Board representatives on the ASB include: G. Alan Long (KY), Elizabeth Gantnier (MD), Marcia L. Marien (CT) and M. Chad Singletary (AL).

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