Proposals Seek to Update Uniform Accountancy Act, Model Rules

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Terry Sheridan
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In a periodic effort to refresh and update the Uniform Accountancy Act (UAA) and the UAA Model Rules, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) recently issued two exposure drafts.

The UAA and its Model Rules are considered evergreen reference documents for states and jurisdictions to use in updating their laws and regulations. As such, they undergo regular review and updates.

“The AICPA/NASBA Uniform Accountancy Act Committee believes these modifications of the UAA and Model Rules will positively impact the ability of the state boards of accountancy to effectively regulate the evolving accounting profession and to therefore meet the public’s needs,” said Deborah Lambert and J. Coalter Baker, UAA committee chairs for the AICPA and NASBA, respectively.

The UAA exposure draft proposes the following changes:

  • Removes reference to a five-year phase-in for the 150-hour education requirement because most jurisdictions now are “substantially equivalent.”
  • Defines “Preparation of Financial Statements” as a service of any preparation of financial statements engagement performed in accordance with the Statements on Standards for Accounting and Review Services.
  • Deletes the Rule 10-4 Model Code of Conduct in favor of promoting uniformity among state boards through the AICPA Code of Professional Conduct.
  • Deletes the “Legislative Policy (Annotated) of the American Institute of Certified Public Accountants” as Appendix A of the UAA.

Comments on the proposal should be submitted by June 1 to Suzanne Jolicoeur.

The UAA Model Rules proposal seeks to create new ways of earning credit for continuing professional education (CPE), describes activities that qualify for CPE credit, and describes requirements for certificate renewal.

The exposure draft also clarifies “technical fields of study” and “nontechnical fields of study.”

  • Technical fields of study are “technical subjects that contribute to the competence of a CPA in the profession of accountancy and that directly relate to the CPA’s field of business.”
  • Nontechnical fields of study are “subjects that contribute to the competence of a CPA in areas that indirectly relate to the CPA’s field of business.”

Comments on the Model Rules exposure draft should be submitted by June 30 to Louise Haberman.


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