Tag Archives: UAA
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
SHARE: 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…
NASBA Board Weighs Evolution
SHARE: The NASBA Board of Directors’ July 26 meeting focused on the comments received at June’s Regional Meetings on the evolution of the CPA profession. “We have heard loud and clear that the State Boards do not want two pathways to CPA licensure,” NASBA President and CEO Ken Bishop stated, but NASBA Board members felt…
Joint NOCLAR Task Force Meets
SHARE: How best to address noncompliance with laws and regulations (NOCLAR) by clients was addressed in the first meeting of a joint task force of the AICPA/NASBA Uniform Accountancy Committee and the AICPA Professional Ethics Executive Committee on July 30-31 in Washington, DC. The task force was formed as recommended by the AICPA/NASBA summit leadership…
Comments Awaited on Model Rules
SHARE: State Boards and other interested parties are being asked to review changes to two sections of the Uniform Accountancy Act’s Model Rules: First, a change to Rule 5-7 to prepare the way for continuous Uniform CPA Examination testing has been exposed with a February 11, 2019 comment deadline. Second, to be released for comment…
UAA vs. Anti-Regulation Forces
SHARE: “The Uniform Accountancy Act is one of the best ways to refute ALEC and other such groups,” advised NASBA Director of Legislative and Regulatory Affairs John Johnson. “These groups don’t know what we have done to promote uniformity, to remove barriers for professionals to move across state lines, etc.” Mr. Johnson said he will…
Engaging in Evolution of the Profession
SHARE: We live in a world where change happens so fast it doesn’t give us time to adjust to the new “normal”. If there is one thing that we can expect from working in the accounting profession, and the regulation of accounting, it is that change will continue — and it will happen at a…
8th Edition of UAA and Model Rules Out
SHARE: Retired CPAs and unilateral recognition agreements are all part of the Eighth Edition of the Uniform Accountancy Act (UAA) and the Model Rules now on www.nasba.org. Last updated in 2014, the new edition eliminates antiquated references and terminology in various sections of the Act. The January 2018 edition includes the latest Statement on Standards…