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Category Archives: State Board Reports
President’s Memo: International Impact on NASBA
SHARE: Living in an increasingly global economy, the daily world news reports present NASBA and the State Boards with several serious challenges and some promising opportunities: The coronavirus outbreak that started in the city of Wuhan, China, has now spread around the globe. After the election of Boris Johnson as Prime Minister and nearly four…
NASBA BOD Opposes Staff Augmentation
SHARE: The NASBA Board of Directors at their January 17 meeting reaffirmed their opposition to allowing a CPA firm’s staff to provide non-attest services to an attest client while under the client’s supervision as it compromises the firm’s independence. This practice, termed “staff augmentation” in an interpretation of ET 1.200.001 under consideration by the AICPA’s…
CPA Evolution Initiative Continues
Significant planning associated with the CPA Evolution initiative moved forward in January: The nine-member CPA Evolution Education Advisory Group (see 1/20 sbr) met twice; NASBA’s Education Committee met and learned more about the proposal; The CPA Evolution Exam Advisory Group was established; And NASBA’s Board of Directors received an update on the initiative’s progress and…
PCAOB Weighs Quality Control Measures
SHARE: As promised by Public Company Accounting Oversight Board Chair William Duhnke at December’s Center for the Public Trust (CPT)/Baruch Conference, the PCAOB has issued a concept release on its quality control standards to reflect relevant developments affecting audit and assurance practices and firms’ quality control systems. NASBA’s Regulatory Response Committee, chaired by W. Michael…
Vaudt to Leave GASB
SHARE: David A. Vaudt, NASBA Chair 2003-2004, will conclude his seven-year term as chair of the Governmental Accounting Standards Board on June 30, 2020. He will be succeeded as GASB chair by Joel Black, partner-in-charge of Mauldin & Jenkins LLC in Atlanta.
New Legislative Tracking Aid
SHARE: NASBA is now using FiscalNote to identify and track legislation impacting the regulation of the accounting profession. Check out https://nasba.org/mc/legislativesupport/legislativetracking/ to see those bills currently being debated at the state and federal level that NASBA’s Director of Legislative and Governmental Affairs John Johnson follows daily. Using graphs and maps, plus descriptive text, the page…
Interested in Being Vice Chair?
SHARE: NASBA Nominating Committee Chair Janice L. Gray (OK) is asking individuals who have served as a NASBA Director-at-Large or Regional Director for a minimum of two years and would like to be considered by the Nominating Committee for NASBA Vice Chair 2020-2021 to submit a letter to her ([email protected] or [email protected]) by April 7,…
Full Issue: January 2020
CPA Evolution Update
SHARE: December saw stepped-up activity associated with the CPA Evolution initiative: Its website, EvolutionofCPA.org, was refreshed; NASBA committees held preliminary meetings; and a webcast was broadcast for those who had not attended the NASBA Annual Meeting. Updated material was added to EvolutionofCPA.org pertaining to recent thinking regarding possible revisions to the CPA licensure model, along…
President’s Memo: 2020 is Going to Be a Busy Year!
SHARE: I probably could have used the title “This is Going to Be a Busy Year” for most, if not all, of the President’s Memos I have written over the past nine years, but it seems particularly relevant for the year ahead, 2020. While each year is typically busy for NASBA staff and volunteers alike,…