Despite a drop off in the number of CPA candidates, “NASBA remains strong financially, in relevance and in member participation,” NASBA President and Chief Executive Officer Ken L. Bishop told the Annual Meeting, October 28-30 in the Westin Copley Place, Boston. Representatives from 54 Boards of Accountancy were present, including 129 delegates, 39 associates and 46 State Board staff members. Total attendance, including other participants, guests and staff was 434. “This has been a challenging year, but I am so proud we did achieve $56,000,000 in net assets and were able to say ‘yes’ to every request for assistance by State Boards,” Mr. Bishop stated. Among this year’s accomplishments cited by President Bishop were:

  • Signing of the mutual recognition agreement with the South African Institute of Chartered Accountants and nearing completion of a similar agreement with the Institute of Chartered Accountants of England and Wales. He noted the International Qualifications Appraisal Board is also engaged in the development of other agreements and renewals of existing agreements.
  • Outsourcing of NASBA’s information technology requirements.
  • More than 20 Board visited by NASBA Vice President of State Board Relations Dan Dustin.
  • Hundreds of pieces of legislation tracked by NASBA Director of Legislative and Governmental Affairs John Johnson.
  • Cheryl Farrar stepped into the role of Chief Sourcing and Strategy Officer upon the retirement of Ed Barnicott.
  • Nearing continuous testing for the Uniform CPA Examination.
  • The high quality of the Uniform CPA Examination being maintained.
  • NASBA’s Center for the Public Trust President Alfonzo Alexander and his staff generated more funds for the CPT’s programs.

President Bishop concluded his presentation by re-emphasizing the importance of trusting relationships and their allowing for fruitful conversations on issues where there are disagreements. A letter had been sent to the Oregon Board of Accountancy urging them to pass a law that would allow a CPA to go “inactive” if they would not be providing attest services, essentially allowing them to perform other accounting related work including consulting, offering financial advice and preparing tax returns, including work done in firms. Such a law would not agree with the Uniform Accountancy Act’s guidance to those who chose to become “CPA- Inactive,” and could have resulted in significant consequences to the board’s ability to protect the public.

President Bishop asked that when Boards are considering changes in their law, they allow NASBA to review those changes and offer its legal opinion if those changes could present a threat to regulation. “We will support you [State Boards] even if we do not agree with your decision,” President Bishop stated. “You are NASBA’s mission and we remain mission-driven and member-focused.”

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