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Category Archives: State Board Reports
New Definition of Public Interest Entities by IESBA
SHARE: Forget what you thought you knew about public entities and how they are defined. The International Ethics Standards Board for Accountants (IESBA) has redefined what it means to be a public entity. According to a recent article on IESBA’s website, the organization has expanded the definition of a PIE, or Public Interest Entity, along…
The Link Between COVID Relief Funds and Required Audits
SHARE: According to a recent article featured on the Pennsylvania Institute of CPAs (PICPA)’s website, organizations that received more than $750,000 in COVID relief funds could be required to have a single audit or a program audit. Subsequently, this will result in roughly 30,000 new single audits across the U.S. If you are a practitioner…
ED-Legal Resumes In-Person!
SHARE: After nearly three years of hosting virtual meetings, NASBA resumed its in-person conferences by hosting the 40th Annual Conference for Executive Directors and Board Staff and the 27th Annual Conference for Board of Accountancy Legal Counsel, April 25-27, in Clearwater Beach, FL. Held concurrently, the conferences serve as an opportunity for state board staff,…
Committee Interest Receives Record Response
SHARE: Following an extensive outreach campaign led by NASBA Vice Chair Richard Reisig, state board members, executive directors and NASBA associates responded to the committee interest response period in record numbers, exceeding the record response received in 2021. The overwhelming response is welcomed by Reisig and NASBA leaders as they work to appoint members to…
NASBA Awards Call for Nominations Open Through June 30
SHARE: NASBA Awards Committee Chair Laurie J. Tish (WA) and Awards Committee members invite member boards to submit nominations for NASBA’s 2022 Awards by the June 30, 2022 (11:59 pm CDT) deadline. Online nominations are currently being accepted for the following award categories: • William H. Van Rensselaer Award – Since 1988, recipients of this…
Legislative Updates: Don’t Assume – Constantly Educate and Reinforce!
SHARE: The desirability of uniformity among accountancy jurisdictions is recognized in the Uniform Accountancy Act (UAA), which has created and refined systems to provide for: mobility, peer review, continuing professional education requirements, non-CPA ownership, CPE Reciprocity and the ease for reciprocal licensure in almost all 50 states, territories, and the District of Columbia—all while protecting…
NASBA/AICPA IQAB Signs MRA with CPA Ireland
SHARE: NASBA/American Institute of CPAs (AICPA), U.S. International Qualifications Appraisal Board (IQAB) and CPA Ireland signed a mutual recognition agreement (MRA) on May 31, 2022, that went into effect on June 2, 2022. The MRA will provide an abbreviated qualification pathway for eligible accounting professionals in the U.S. and Ireland to practice in the partner…
Full Issue: Winter 2022
Private Equity Investing in Public Accounting
SHARE: In late 2020, news broke of private-equity firms purchasing stake in top accounting firms and news of new partnerships continue to hit newsstands. The deals, and their terms, gained attention within the profession. The question now is, what does this mean for the future of the accounting profession? According to Koltin Consulting Group CEO,…
President’s Memo: Time to Unwind
SHARE: By being married to a former professor and PhD, I am often corrected when I use a word or phrase inappropriately. Similarly, former President Harry Truman, a fellow Missourian, was often criticized for his misuse of words and language. He once stated that he liked to use “plain language that the folks understand.” I…