Accounting
NASBA Proposes Revisions to Uniform Accountancy Act Model Rules
The proposed changes, which are relevant to the CPA Evolution Initiative’s charge, pertain to educational requirements for individuals wishing to enter the CPA profession, and are aligned to encourage uniformity among the 55 U.S. Jurisdictions.
May. 27, 2020
The National Association of State Boards of Accountancy (NASBA) today announces the start of a 90-day comment period for proposed revisions to the Uniform Accountancy Act (UAA) Model Rules. Comments will be accepted through August 31, 2020.
Developed by the AICPA/NASBA CPA Evolution Initiative, the proposed revisions were reviewed by NASBA’s Uniform Accountancy Act (UAA) Committee and recommended to the NASBA Board of Directors for exposure for public comment. The NASBA Board approved the proposed rules for exposure during its April 24, 2020 meeting.
The proposed changes, which are relevant to the CPA Evolution Initiative’s charge, pertain to educational requirements for individuals wishing to enter the CPA profession, and are aligned to encourage uniformity among the 55 U.S. Jurisdictions.
“This is an important milestone in our CPA Evolution journey,” shared NASBA Chair Laurie Tish, CPA. “Not only will these proposed revisions give us the platform we need to achieve the goals we outlined in the CPA Evolution Initiative, but they will result in more relevant and uniform education requirements.”
Among the proposed revisions are provisions for the addition of course content in the areas of digital acumen and data analytics, courses that can be taken outside a school of business, recognition of accrediting organizations by Boards of Accountancy, and new requirements for internships and independent study.
UAA Model Rules, which serve as the baseline standard for use by Boards of Accountancy in state rules and laws, were last updated in 2018 with the release of the UAA-Eighth Edition. NASBA’s UAA Committee, under the leadership of chair J. Coalter Baker, CPA, especially welcomes comments from Boards of Accountancy, academia, accounting bodies and members of the accounting profession through August 31, 2020. Comments should be submitted to uaacomments@nasba.org.
CLICK HERE for more information on the UAA and to read the proposed revisions to the Model Rules in their entirety.