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Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011
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Uniform Accountancy Act - Carlos Johnson - Thursday - Regionals 2011

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Transcript

  • 1. Uniform Accountancy ActStatus Report
    Carlos E. Johnson, CPA
    Chair – NASBA UAA Committee
    2011 NASBA Regional Meetings
  • 2. Review of Comments on Firm Name Exposure Draft
    Rule change to continue coverage of services
    Definition of “attest”
    Current Projects
  • 3. Comment deadline extended until 6/1/11
    NASBA/AICPA UAA conference call June 6
    Listening for input at the Regional Meetings
    Final draft to NASBA and AICPA Boards in fall
    Comments received from Boards in IA, LA, MS, NC, NE, MO, MN, OK, TN, TX, WI, WY
    Firm Name Exposure Draft
  • 4. A Rule change was necessary for a few states because the Auditing Standards Board moved certain services (primarily "Reporting on Controls at a Service Organization") from SAS 70 into SSAE 16. Depending on the wording of the state’s law, that might have resulted in the unintended lessening of public protection and endangering mobility by omitting certain important services related to auditing from the definition of “attest.”
    Rule 3-1(c) For purposes of the definition of "attest" as provided in Section 3(b)(1) of the Act, the Board adopts and incorporates by reference the AICPA’s Statements on Auditing Standards (SAS) as they existed as of [insert either the effective date of your state’s legislation adopting the current definition of "attest," or a date after 1997 and before June 15, 2011].
    Emergency Rule Change
  • 5. To avoid additional last-minute changes, a task force has been formed to develop a definition of “attest” to be added to the Uniform Accountancy Act.
    The results of the task force’s work will be reviewed by NASBA/AICPA UAA Committee and recommendations made to the Boards of Directors of NASBA and the AICPA.
    “Attest” Definition
  • 6. NASBA UAA Committee
    Carlos Johnson – Chair
    Donald A. Driftmier
    Andrew L. DuBoff
    J. Dwight Hadley
    Robert J. Hyde
    Thomas J. Mulligan
    Ronald E. Nielsen
    Robert A. Pearson
    Eric Robinson
    James F. Thielen
    Michael D. Weatherwax

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