Tag Archives: AICPA
NOCLAR Exposure Drafts in February
SHARE: On January 14, 2021, the latest round in the profession’s ongoing attempt to deal with NOCLAR (non-compliance with laws and regulations) began, with the AICPA’s Auditing Standards Board’s (ASB) vote to expose for public comment a proposed Statement on Auditing Standards (SAS) on “Communication with Predecessor Auditor Regarding Fraud and Noncompliance with Laws and…
Evolution’s Impact on Minority Students
SHARE: Dr. Kevin James was asked to consider what the CPA Evolution will mean to minority students, as part of the Annual Meeting’s panel session moderated by Education Committee Chair Stephanie Saunders (VA). Dr. James, who is Dean of the Deese College of Business at North Carolina Agricultural and Technical State University, detailed some of…
AICPA Launching .CPA Domain Name
SHARE: Beginning September 1, 2020, licensed CPA firms and licensed individual CPAs can apply to place the restricted domain name .cpa on their web address. It took the AICPA almost seven years to win the rights to control the custom domain .cpa from the Internet Corporation for Assigned Names and Numbers (ICANN) as other groups…
NASBA Responds to BOE and PCAOB
SHARE: NASBA encourages the AICPA to continue to evolve the Uniform CPA Examination by introducing additional analysis and evaluation simulations across the sections, but is also concerned about de-emphasis of business law topics on the Examination, as stated in its April 30, 2020 response to the AICPA Board of Examiners’ “Maintaining the Relevance of the…
Update on CPA Evolution Initiative
SHARE: An in-depth staff report on the progress of the CPA Evolution Initiative was presented at the NASBA/AICPA leadership semi-annual Summit meeting in February. Meeting attendees spent three hours hearing outcomes from the Education and Examination Advisory Groups, as well as feedback received since October from more than 1,000 stakeholders, including State Board members and…
NASBA Responds to SEC and PEEC
SHARE: On NASBA’s behalf, Chair Laurie J. Tish and President and CEO Ken L. Bishop submitted responses to exposure drafts from the Securities and Exchange Commission (SEC) and the AICPA Professional Ethics Executive Committee (PEEC) on February 25. The complete responses can be found on www.nasba.org in the Publications section. The letter to the SEC…
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…
Invitation to Comment on Exam Released
SHARE: While other groups are looking at what the future Uniform CPA Examination may be like, keeping the current Exam valid, reliable and relevant has also been a charge of the Board of Examiners and the AICPA Exam Team. The results of the AICPA’s Practice Analysis were released in mid-December along with changes to be…
Considering the Core Plus Model
SHARE: Enhanced by NASBA’s Annual Meeting, the CPA Evolution initiative, a joint effort of the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA), has been moving forward. The initiative aims to transform the CPA licensure model to recognize the rapidly changing skills and competencies the practice…
Trends Show CPA Gap Widens
SHARE: The gap between the number of new accounting graduates and new Uniform CPA Examination candidates has existed for a long time, but that gap has widened, Dr. Yvonne L. Hinson, AICPA Academic-in-Residence, told the NASBA Annual Meeting. In 2018 there was a 10-year low in the number of those taking the Exam, with 76.542…