State Board Meeting Report - May 2007
At its May 17, 2007 meeting the Texas State Board of Public Accountancy tentatively approved a reduction in CPE sponsor fees for the Sponsor Review program. The proposed changes in the fees are as follows:
NO. OF COURSE
TITLES OFFERED |
|
TOTAL ANNUAL REGISTRATION FEE |
1-10 1 – 4 |
|
$400 $600 |
5 - 10
|
|
$1,000
|
11 - 40 |
|
$750 $1,500 |
41+ |
|
$1,250 $2,500 |
The Rules committee of the Board had also recommended a reduction in the individual license fees and the examination fees. Under the recommendation the license fee would have been reduced from $45 to $30 and the examination fees would have been cut in half.
The Board decided to postpone those recommendations until its next meeting due to concerns over the potential financial impact of reporting under Government Accounting Standards Board (GASB) Statement No. 45 Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions (OPEBs) on the Board’s financial statements. Concern was expressed that booking liabilities for OPEBs might significantly impact the Board’s fund balance.
Although it was noted that the Board did not have to comply with GASB 45 until 2009, and might not have to comply even then if certain legislation before the Senate passes this session, the Board elected to postpone consideration of the fee reductions until the issue could be thoroughly studied.
Peer Assistance Budget Increased
The Board voted to increase the budget for the Peer Assistance program to enable the Executive Director of the program to work on a full time basis. This program is operated by TSCPA on behalf of the Board. TSCPA and the TSCPA Peer Assistance Foundation also contribute to the Peer Assistance program which operates as the Accountants Confidential Assistance Network (ACAN).
Online Licensing Ready to Go
Board staff reported that they have successfully tested the online licensing system and that it should be ready for public use by the end of the month. Those CPAs who prefer to renew their license online will have the opportunity to do so.
Rules Review Schedule Adopted
Every four years state law requires the State Board to thoroughly review all existing rules to determine if they are still needed and effective. The Board will start this review soon with a target completion date of August 2008. The rule review plan will be posted in the Texas Register and the public will be invited to make recommendations on the process or on specific rules.
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