David A. Vaudt to Begin Seven-Year Term Starting July 1, 2013

NASHVILLE, TENN (APRIL 5, 2013) — In a recent announcement, the Financial Accounting Foundation (FAF) has named former National Association of State Boards of Accountancy (NASBA) Chair and Iowa Auditor of State, David A. Vaudt, as the next chairman of the Governmental Accounting Standards Board (GASB). Vaudt, current CPA Examination Review Board (ERB) vice chair, will begin serving a single, seven-year term effective July 1, 2013, upon the retirement of current GASB Chairman Robert H. Attamore.

David A. Vaudt

Formed in 1984, the GASB is an independent, not-for-profit organization charged with establishing and improving financial accounting and reporting standards for state and local governments. The Board, governed under the direction of the FAF, is comprised of seven members.

Since 1997, Vaudt has actively served NASBA in various leadership and committee roles. He is a former chair of NASBA’s Public Perception Committee, Examination Committee, Regulatory Structures and Issues Committee, Nominating Committee and Past Chair Committee. From 1997-2005, Vaudt served as a member of the Board of Directors and led the organization as NASBA chair from 2003-2004. As chair, he was instrumental in the launching of the computerization of the CPA Exam, strengthening the relationships between NASBA, the Pubic Company Accounting Oversight Board (PCAOB) and Boards of Accountancy and spearheading major changes to the Uniform Accountancy Act (UAA).

In addition to his service to NASBA, Vaudt is a former chair of the Iowa Accountancy Examining Board (1995-2002) and former president of the National State Auditors Association (2011-2012). He began his appointment to the CPA Examination Review Board in 2005.

“David’s rich background and knowledge in governmental accounting and auditing make him the perfect candidate to lead the GASB over the next seven years,” said NASBA Chair Gaylen Hansen. “David has and will continue to make significant contributions to financial reporting and the accounting profession in his new role as chairman.”

NASBA salutes David A. Vaudt on his appointment to the GASB, and for his unwaivering commitment and leadership in advancing financial accounting and reporting standards within the United States.

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Former NASBA Chair Appointed to Head GASB

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“Operational Quality” and “Trends in Computer-Based Delivery” Lead to Prometric as “Best Choice” for Contract through 2019

BALTIMORE, MD (MARCH 4, 2013) — The American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) have agreed to an extension of their agreement with Prometric, the trusted provider of market-leading test development and delivery solutions, to deliver the Uniform CPA Examination, through 2019, across the company’s global computer-based testing network. Prometric delivered the first computerized CPA Exam in 2004, and has delivered more than 1.8 million Exams to date.

In a joint statement, the AICPA and NASBA noted Prometric’s “operational quality,” and said:

“After reviewing trends in computer-based testing, we believe that Prometric remains the best choice for the delivery of the Exam, and we look forward to continuing our working relationship with you.”

The Uniform CPA Examination protects the public interest by helping to ensure that only qualified individuals become licensed as U.S. Certified Public Accountants (CPAs). Individuals seeking to qualify as CPAs — the only licensed qualification in accounting — are required to pass the CPA Exam.

“We are inspired by the trust and commitment extended to us by the AICPA and NASBA,” said Michael Brannick, President and CEO of Prometric. “At Prometric, we make it our business to protect the public trust and the professionals they hire, and making good on our commitments to the AICPA and NASBA over the next seven years, and beyond, will include a secure, world-class testing network capable of meeting the needs of the Uniform CPA Examination.”

About NASBA
Celebrating more than 100 years of service, the National Association of State Boards of Accountancy (NASBA) serves as a forum for the nation’s Boards of Accountancy, which administer the Uniform CPA Examination, license more than 700,000 certified public accountants and regulate the practice of public accountancy in the United States.

NASBA’s mission is to enhance the effectiveness and advance the common interests of the Boards of Accountancy in meeting their regulatory responsibilities. The Association promotes the exchange of information among accountancy boards, serving the needs of the 55 U.S. jurisdictions.

NASBA is headquartered in Nashville, TN, with satellite offices in New York, NY, and San Juan, PR, and an International Computer Testing and Call Center in Guam.

About AICPA
The AICPA is the world’s largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology.

About Prometric
Prometric, a wholly-owned subsidiary of ETS, is a trusted provider of technology-enabled testing and assessment. As the global standard in professional competency measurement, Prometric reliably delivers 10 million tests per year on behalf of 400 clients in the academic, financial, government, healthcare, professional, corporate and information technology markets. Through innovation, workflow automation and standardization, Prometric achieves customer-inspired advances that are better, faster and at less cost for its clients, helping to put the right people in the right jobs at the right time. Prometric delivers tests flexibly via the Web or by utilizing a robust network of more than 8,000 test centers in more than 160 countries. For more information, please visit the Prometric website.

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AICPA and NASBA Extend Multi-Year Agreement with Prometric for Delivery of Computer-Based Uniform CPA Examination

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New Publications Feature Detailed Reports and Statistical Data from the 2012 Uniform CPA Examination

NASHVILLE, TENN. (February 12, 2013) – The National Association of State Boards of Accountancy (NASBA) has released the Uniform CPA Examination Candidate Performance Book and the School Performance Book which feature comprehensive statistical data from all four testing windows of the 2012 Uniform CPA Examination.

In an effort to meet the growing needs of users of these publications (including Boards of Accountancy, academia, researchers, CPA firms and CPA exam review course providers), the newly released NASBA Report on the CPA Exam products feature upgraded design and enhanced reporting options. Most notably, in the Candidate Performance Book, the inclusion of a two-page dashboard that displays demographics, residency, degree type and a candidate comparison for each of the jurisdictions represented in the book. Featured tables also provide a more granular view of individual exam event and performance data.

Featured tables in the Candidate Performance Book include:

• 2012 Annual and Quarterly Summaries
• Jurisdiction Summary Statistics
• Top 30 Countries (by number of candidates)
• Demographic Trending (Age, Gender, Degree)
• 2012 Top 40 Institutional Rankings by first-time Examination Performance

The School Performance Book (520+ page companion to the Candidate Performance Book) is compiled to meet the general needs of educational institutions. The publication also allows for easier comparison of institution performance with various other categories including: other universities, all schools in a given state/region and internationally educated students. The publication includes full page graphical reports for States, Regions and Universities. In addition to the standard ranking, performance by region and program size will provide a view into performance among peer institutions.

“Our efforts to understand and deliver the statistical data required by subject matter experts, including Boards of Accountancy, academia, researchers, review course providers and media outlets, have doubled the requests for information of both annual publications,” said James Suh, NASBA’s Director of Continuous Improvement & Analytics. “Our continued discussions with academia over the past year have lead to the creation of a new product, The School Report, which takes a deeper dive into the specific performance of a university’s accounting program.”

The School Report, tailored to the needs of accounting program leaders, supports decision making and tracking of changes to the curriculum, admission criteria or other variables inherent to an institution’s accounting curriculum. The analysis includes direct name matching of graduates, allowing for true tracking of graduating class performance on the Uniform CPA Examination. The reporting methodology also provides a more comprehensive look at the data than is available in either of the annual publications. “Schools are interested in comparing undergraduate vs. graduate pass rates. NASBA’s customized reporting provided a clearer view of how our students are performing on the Exam, during a given year and within a given program,” said Dr. Fred Mittelstaedt, Deloitte Foundation Professor of Accounting & Department Chair, University of Notre Dame.

NASBA first began gathering data on CPA Examination candidates in 1982 and has published reports on performance and selected characteristics since 1985.  These improvement efforts represent a continuation of NASBA’s ongoing role as a reliable and trusted resource to the accounting profession.

To learn more about the publication and to place an order, please visit the NASBA Report on the CPA Exam section of our website. Questions regarding NASBA’s candidate performance products should be directed to cpb@nasba.org or 615.880.4200.

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NASBA Releases CPA Examination Statistics

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Program Awards and Funds Grants Totaling up to $25,000 to Academics and Post Doctoral Researchers

NASHVILLE, TENN. (February 11, 2013) – The National Association of State Boards of Accountancy (NASBA) announced today the 2013 Call for Proposals for its Accounting Education Research Grants Program. The program, established in 2011, aims to advance research on educational issues impacting Certified Public Accountants (CPA), the public accounting profession and Boards of Accountancy’s charge to protect the public. 
 
This year, NASBA will fund and award a maximum of three grants totaling up to $25,000 for one-year research projects. Faculty and postdoctoral researchers at U.S. academic institutions are encouraged to submit proposals for consideration.

“NASBA’s accounting education research grants are a win-win-win opportunity,” said Dr. Karen Turner, NASBA Education Committee Chair. “Boards of Accountancy win because they receive valuable information that helps with their decision making. Academics win when they receive funding necessary to complete research important to their careers. And finally, the profession as a whole wins through a closer relationship between practitioners and academics.”

Research interests of NASBA include, but are not limited to:

• Characteristics of successful CPA candidates,
• Ideal or model curricula for successful CPA candidates,
• Inclusion of IFRS within the accounting curriculum and on the CPA exam,
• Effective sections or rules of code of professional conduct to protect the public,
• Characteristics of the best work experience requirements for licensure,
• Ways to increase the diversity within the profession, and
• Effective online accounting education.

In 2012, NASBA awarded grants to researchers representing the following institutions: DePaul University (Chicago, IL), Ball State University (Muncie, IN), Northern Kentucky University (Highland Heights, KY), Indiana University (Bloomington, IN) and the University of New Hampshire (Durham, NH). A comprehensive listing of past grant recipients is available on this website.

Proposals will be accepted (in electronic format) through 11:59 p.m. Central Time on April 9, 2013.  Applicants are encouraged to submit proposals in advance of the deadline. Grant recipients will be announced on May 10, 2013.

For additional information regarding the Call for Proposals (including a full program description, eligibility requirements, application deadlines and details on proposal submission), visit the Research Grants section of this website.

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NASBA Announces Accounting Education Research Grants Program

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NASHVILLE, TENN. (January 29, 2013) – The Board of Directors of the National Association of State Boards of Accountancy (NASBA) at its January 25, 2013, meeting unanimously voted to adopt a resolution regarding the American Institute of Certified Public Accountants’ (AICPA) exposure draft: Proposed Financial Reporting Framework for Small- and Medium-Sized Entities (FRF-SME).

In that resolution, the NASBA Board of Directors urged the AICPA to either table or withdraw the proposal in order to allow the Financial Accounting Foundation’s Private Company Council (PCC) adequate opportunity to develop standards uniquely applicable to private companies that can be authoritative and part of generally accepted accounting principles (GAAP).

Gaylen Hansen, CPA

“There are increasing demands for significant improvements in the current financial reporting system serving the unique needs of private companies and their many stakeholders. We share those concerns with the AICPA, but we also recognize that well thought out and authoritative solutions stand a better chance of long-term success. The FASB and the PCC deserve our undivided support in their mission to improve GAAP for this critical sector of the U.S. economy,” said Gaylen Hansen, Chair of the NASBA Board of Directors.

Under the Tenth Amendment of the U.S. Constitution and the Sarbanes-Oxley Act, Section 209, State Boards of Accountancy are vested with significant authority in the development, adoption and enforcement of standards. This authority is particularly relevant as it relates to the private sector and the topic of the AICPA’s FRF-SME proposal.

Given this authority, the NASBA Board of Directors in a letter to the AICPA’s Director of Private Company Financial Reporting expressed its concern regarding the current proposal. The resolution of the NASBA Board of Directors can be found in the News section of this website, under “Comment Letters.”

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NASBA Board Urges AICPA to Withdraw Private Company Accounting Proposal

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TOKYO, NEW YORK, and NASHVILLE (January 25, 2013) – A recent American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) survey of Japanese U.S. CPA candidates showed that improving skills (68.2%) and expanding career options (64.2%) were the main motivating factors for taking the Uniform CPA Exam and becoming licensed U.S. CPAs. Increasing chances of working abroad (39.9%) or for an international company (34.8%) were also found to be key driving factors. When asked directly if they wished to work abroad in the future, a total of 83.7% of respondents said that they did.

The results indicate that the U.S. CPA license is perceived to empower people to better tap opportunities in an increasingly globalized Japan.

Mika Kobayashi of the Japan Society of U.S. CPAs (and a consultant at PricewaterhouseCoopers Aarata) said, “2012 was a record year for outbound M&A, driven by a strong yen and an aging and shrinking domestic population. As a global standard accounting qualification, the U.S. CPA allows people to benefit from Japan’s current push for international economic growth.”

Further backing this analysis, the results show that 84.2% of those surveyed agree or strongly agree that the CPA license is becoming more valuable in the job market, with 68.0% seeing it as more valuable than other accounting credentials. As to the benefits of holding the U.S. CPA, 70.4% said it improves professional ability, 57.3% felt that it improved self-confidence, while 52.9% saw it as demonstrating English language capability.

Colleen Conrad, CPA

“The U.S. CPA is the Gold Standard qualification in accounting, and demand for professional accountants is increasing worldwide,” commented NASBA Executive Vice President & COO Colleen Conrad. “Beyond accounting, the qualification opens up career paths in diverse fields as management consulting. And the number of Japanese candidates is increasing – Japanese citizens account for approximately 60% of all international candidates.”

“The accounting profession in the United States is expected to grow by 16% over the next ten years, creating 190,000 jobs. The U.S. CPA is backed by a rigorous exam, strict licensing requirements and a stringent code of ethics. Taking the exam and becoming a licensed CPA is a great way for an accountant to prove their capability to a potential employer – in Japan, the United States and worldwide,” said Craig Mills, AICPA vice president of examinations and CPE.

According to Robert Half’s 2012 Accounting & Finance Salary Guide, the CPA is the most requested accreditation in the accounting and finance professions.

Of those responding to the survey, the vast majority (76.2%) of respondents were in permanent full-time employment. This is reflective of AICPA/NASBA data that indicates that Japanese candidates are more likely to be young professionals or mid-career candidates, in comparison to the U.S. or Middle East (where the international exam program also operates), where candidates are more likely to be closer to university age.

A total of 36.2% of respondents said that the convenience offered by now being able to sit for the exam in Japan had influenced their decision to become a U.S. CPA. The international exam, offered in English, has been available in Japan since August 2011. It is the same as the U.S. exam administered by the AICPA, NASBA, and Prometric in the United States.  The exam is available to candidates in Japan at test centers administered by Prometric in Tokyo, Osaka and Kanagawa.

Starting from January 1, 2013, the  U.S. CPA  Exam  is  offered  to candidates in Japan during  the first two months of each three month testing  window, the same as candidates sitting for the exam in the 55 state board jurisdictions, rather than the second month only, as had been the case to date.

The survey polled answers from a total of 592 respondents, who completed the survey between September 26 and October 28, 2012.

About NASBA
Celebrating more than 100 years of service, the National Association of State Boards of Accountancy (NASBA) serves as a forum for the nation’s State Boards of Accountancy, which administer the Uniform CPA Examination, license over 700,000 certified public accountants and regulate the practice of public accountancy in the United States.

NASBA’s mission is to enhance the effectiveness and advance the common interests of the Boards of Accountancy. The Association promotes the exchange of information among accountancy boards, serving the needs of the 55 U.S. jurisdictions.

NASBA is headquartered in Nashville, TN, with a satellite office in New York City and an International Computer Testing and Call Center in Guam.

About AICPA
The American Institute of Certified Public Accountants (AICPA) is the world’s largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center.

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U.S. CPA License Increases International Employment Options for Japanese Accountants

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NASHVILLE, TENN. (November 15, 2012) – The National Association of State Boards of Accountancy (NASBA) is pleased to announce the new appointments and positions to its 2012-2013 Board of Directors.

Gaylen R. Hansen, CPA, of Denver Colo., acceded to the position of chair for 2012-2013. Previously, Hansen served as vice chair of the NASBA Board of Directors as well as chair of NASBA’s Ethics Committee and Strategic Initiatives Committee. He is a former NASBA director-at-large and former member of NASBA’s Global Strategies Committee, Regulatory Response Committee, Relations with Member Boards Committee and the International Regulators Conference Committee.

As audit partner and director of quality assurance at Ehrhardt Keefe Steiner & Hottman (EKS&H) — the largest accounting firm in Colorado, his experience spans over 30 years and includes an emphasis on SEC accounting and reporting. In these roles, he is responsible for formulating firm accounting and audit technical policy standards, including regulatory liaison, inspections and peer review, ethics and independence.

Mr. Hansen is a former chair and member of the Colorado State Board of Accountancy. In addition to his service on the NASBA Board, he is also a member of the AICPA’s Professional Ethics Executive Committee and the Public Company Accounting Oversight Board’s Standing Advisory Group. In 2008, he served on the U.S. Treasury’s Advisory Committee on the Auditing Profession.

Most recently, Hansen was appointed to the Consultative Advisory Group of both the international auditing and ethics boards of the International Federation of Accountants (IFAC).

Carlos E. Johnson, CPA, Ed.D, of Oklahoma City, Okla., was elected as vice chair. Johnson is a NASBA director-at-large and chair of NASBA’s Uniform Accountancy Act Committee, as well as, former Southwest regional director and former chair of NASBA’s State Board Relevance and Effectiveness Committee, Legislative Support Committee, Audit Committee, and Substantial Equivalency Strike Force (Mobility Task Force). As a 10-year member of the Oklahoma Accountancy Board, he contributed three terms as chair and two terms as vice chair.
He has also served in various positions with the American Institute of Certified Public Accountants and the Oklahoma Society of Certified Public Accountants. Dr. Johnson is president of Carlos E. Johnson, CPA, PLLC, having recently retired from his position as senior investment banker with BOSC, Inc., a subsidiary of BOK Financial Corp.

Douglas W. Skiles, CPA, of McCook, Neb., was appointed as Central regional director. Mr. Skiles, who also serves as chair of the Nebraska Board of Public Accountancy, is a shareholder with McPherron Skiles & Loop, CPAs PC. In addition to serving on the NASBA Board, Skiles is also a member of NASBA’s Education Committee. He brings an extensive background in taxation for individuals, corporations, partnerships, LLCs, estates and trusts to the Board. He has also chaired the Nebraska Board’s Education & Examination Committee, Educational Advisory Committee and serves as chair on the Legislative Committee, which completed an extensive overhaul of Nebraska’s Public Accountancy Act.

Don Aubrey, CPA, Tax Director for Rebar & Associates in Seattle, Wash., was elected as Pacific regional director. Currently, Aubrey is chair of the Washington State Board of Accountancy and member of NASBA’s Administration & Finance and Relations with Member Boards Committees. As an active member of the Washington Society of Certified Public Accountants (WSCPA), Aubrey is a past treasurer of the WSCPA, has served on the Board of Directors, and has been a member of the Finance Committee for over nine years.

Nicole Olson-Kasin of Sioux Falls, S.D., was elected as chair of NASBA’s executive director’s committee and executive directors’ liaison to the NASBA Board of Directors for 2012-13. Ms. Olson-Kasin has served the executive director of the South Dakota Board of Accountancy for the past four years. Prior to her position with the Board, she was a tax program representative with the South Dakota Department of Labor. Currently, she sits on NASBA’s Executive Directors and Communications Committees.

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NASBA Board of Directors Announces 2012-13 Appointments

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NASHVILLE, TENN., (November 9, 2012) – The National Association of State Boards of Accountancy (NASBA) recently honored its annual awards recipients during its 105th Annual Meeting in Orlando, Fla., October 28-31, 2012.

Michael D. Weatherwax, CPA, of Boulder, Colo., was presented with the 2012 William H. Van Rensselaer Public Service Award. Established in 1988, the Van Rensselaer Award is in recognition of outstanding achievements as a leader and contributions to the effectiveness of state boards in serving the public.

2012 NASBA Award Winners (L-R): Robert N. Brooks, Charles W. Taylor and Michael D. Weatherwax

From 2004-2005, Weatherwax served as chair of NASBA. As chair, his leadership was instrumental in clarifying CPE requirements, supporting forging mutual recognition agreements and communicating with regulators from other countries. Prior to his election as chair, he served three years as a director-at-large and two years as Mountain Region director. His committee involvement is extensive as he is a former chair of NASBA’s Executive, CPE Advisory, Uniform Accountancy Act (UAA), Relations with Member Boards, and Litigation Response Committees, as well as the Special Exam Issues Task Force. Weatherwax continues to bring his voice to NASBA activities as a current member of the Uniform Accountancy Act (UAA) and Regulatory Response Committees. He is also a long-time supporter of the NASBA Center for the Public Trust.

In 2002, Weatherwax completed a second four-year term as a member of the Colorado State Board of Accountancy, including two one-year terms as Board president. He also served as president of the Colorado Society of Certified Public Accountants in 1989. As a Life Member of the American Institute of Certified Public Accountants, he dedicated four years as a member of the Governing Council and as a member of the Specialization Accreditation Board, the Relations with State Societies Committee and the Responsibilities in Tax Practice Committee.

In 2004, Weatherwax retired from 32 years of service as a discussion leader for continuing education taxation courses for CPAs. During that time, he authored eight separate texts for use in the courses and taught programs in 32 states. He returned to teaching continuing education in 2010, with an expanded presentation of Ethical Responsibilities in Tax Practice.

The 2012 Distinguished Service Award was presented to Charles W. Taylor, Ph.D., CPA, of Oxford, Miss. Established in 1999, the Distinguished Service Award recognizes individuals who have demonstrated unswerving commitment and dedication to enhancing the mission of NASBA. 

Dr. Taylor is highly regarded for his dedication to the Mississippi State Board of Public Accountancy, NASBA and the academic community. He contributed a total of 16 years as a member of the Mississippi State Board of Public Accountancy, being appointed four times, by three different governors of two different parties. His dedication to NASBA includes serving as a former regional director and former national vice president. He is a past chair of the Examination Review Board (ERB), Reciprocity Committee and Communications Task Force. Additionally, he served as a member of the International Qualifications Appraisal Board, as well as the Centennial History Advisory Committee, where he contributed his historical insights to the publication, 100 Years of NASBA – Serving the Public Interest (Authored by Dale Flesher).

Among his most notable efforts to enhance the mission of NASBA include pursuing and championing the nondisclosure of the Uniform CPA Exam and recommending that NASBA establish a registry of continuing professional education providers, which evolved into what is currently recognized as the National Registry of CPE Sponsors. 

Within the academic arena, Dr. Taylor dedicated 38 years as a professor of accounting at his alma mater—the University of Mississippi (Ole Miss). During his tenure, he served as faculty senate chair, department chair, member of the University Planning Council and Graduate Council representative. Dr. Taylor, a member of the Ole Miss Accountancy Hall of Fame, retired from the University of Mississippi in 2001.

Robert N. Brooks was named the 2012 recipient of the Lorraine P. Sachs Standard of Excellence Award. This award was established in 2008 to recognize state board executive directors that have shown outstanding service and commitment to improving the effectiveness of accounting regulation, both locally and nationally.

Currently, Brooks is the executive director of the North Carolina State Board of CPA Examiners. As executive director, he is responsible for directing the overall administration of Board operations. Since assuming the ED role in 1986, Brooks has been the face and voice of the Board to thousands of Exam candidates, license applicants, certificate holders, complainants, CPE sponsors, firm administrators, educators and other Boards of Accountancy. Due in large part to his astute leadership, the North Carolina Board is recognized as one of the most effective Boards of Accountancy in the nation; often used as a model for state boards seeking independent or semi-independent status. In fact, Brooks’ judicious use of Board resources allows North Carolina to have some of the lowest fees in the nation, without sacrificing the services provided to applicants, licensees and the public.

Brooks’ involvement with NASBA is broad as he has served on numerous committees including the State Board Administrators Committee (of which he was chair), ALEC, President Search Committee, Annual Meeting Planning Committee, CPE Advisory Committee, CPE Sponsor Registry Committee, Executive Directors Committee, Litigation Response Committee, Meetings and Events Committee, Bylaws Committee, Public Perception Committee, UAA Committee and the Examinations Committee. Additionally, he has served as the Administrators’ Liaison to the NASBA Board of Directors and as Administrators’ Liaison to the Examination Review Board (ERB). Currently, he is a member of the CBT Examination Administration Committee.

A graduate of North Carolina State University, Brooks’ outstanding service to the North Carolina State Board of CPA Examiners, other Boards of Accountancy, NASBA and the profession is a shining testament that his role is much more than career—it is a calling.

Video of the awards presentation is below:

> 2012 Awards Program

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NASBA Announces 2012 Award Recipients

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Financial Accounting Foundation Appoints Members To Newly Created Private Company Council

NORWALK, CT (September 19, 2012) –The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed the chair and members of the Private Company Council (PCC). The PCC is a new body that will work with the Financial Accounting Standards Board (FASB) to determine whether and when to modify U.S. Generally Accepted Accounting Principles (U.S. GAAP) for private companies.

Named as PCC chair was Billy M. Atkinson,CPA, who served as chairman of the National Association of State Boards of Accountancy (NASBA) from 2009 to 2010. Mr. Atkinson has been a member of the NASBA board since 2004 and has chaired several of its committees, including the education and audit committees. He was appointed to the Texas State Board of Public Accountancy in 1999 and served as the presiding officer from 2003 to 2005. He chaired the technical standards review enforcement committee, among others, and served on the rules and executive committees.

Mr. Atkinson retired from practice after working for 39 years at PricewaterhouseCoopers, LLP, where he served as an audit partner and a risk management partner in the firm's private company services unit. He also served as a member of the American Institute of Certified Public Accountants (AICPA) Governing Council from 2003 to 2006 and held leadership positions in the Texas Society of CPAs. Mr. Atkinson was nominated by the Texas Society of CPAs, the Texas State Board of Public Accountancy, and NASBA.

"Billy Atkinson will bring to the PCC a deep understanding of the complex issues facing the FASB as it seeks to serve the best interests of all those who use, prepare, and audit private company financial statements," said W.M. "Mack" Lawhon, a member of FAF Board of Trustees and chairman of the Trustee's Private Company Review Committee, which will have oversight responsibility for the PCC. "The appointments made today set the PCC on the path forward to improve the process of setting accounting standards for private companies," Lawhon added.

Also appointed to the Council (with the nominating organization listed, if applicable) were:

• George Beckwith – vice president and chief financial officer of National Gypsum Company in Charlotte, North Carolina. He was nominated by Nperspective.
• Steven Brown – vice president of US Bank in Portland, Oregon. He was nominated by the American Bankers Association.
• Jeffery Bryan – partner, Professional Standards Group of Dixon Hughes Goodman LLP in High Point, North Carolina.
• Mark Ellis – chief financial officer of PetCareRx Inc. in Chappaqua, New York. He was nominated by the AICPA.
• Thomas Groskopf – director and owner of Barnes, Dennig & Co., Ltd. in Cincinnati, Ohio. He was nominated by Mueller Roofing Distributors, Inc. and Barnes, Dennig & Co., Ltd.
• Neville Grusd – president of Merchant Financial Corporation in New York, New York.
• Carleton Olmanson – managing principal of GMB Mezzanine Capital in Minneapolis, Minnesota. He was nominated by the Office of Paul Volcker.
• Diane Rubin – partner of Novogradac & Company LLP in San Francisco, California. She was nominated by NASBA.
• Lawrence Weinstock – vice president – Finance of Mana Products, Inc. in Long Island City, New York.

"On behalf of the FAF, I am pleased to welcome our inaugural PCC members," said FAF President and CEO Teresa S. Polley. "More than one hundred highly-qualified candidates were nominated for the ten seats on the Council, both by organizations and by individuals. As a result, the selection process was very difficult.

"Each of the new Council members has demonstrated a strong appreciation for the importance of independent standard-setting, and unwavering commitment toward greater clarity and well-informed decision-making in private company financial accounting and reporting. Their diverse backgrounds and perspectives will provide valuable insights and leadership to the PCC and the FAF," Polley added.

FASB Chairman Leslie F. Seidman said, "The FASB welcomes the appointment of the new members of the PCC and looks forward to working with them to address critical issues facing the users, preparers and auditors of private company financial statements. Our first task will be to agree on a framework with the PCC for making decisions about whether and when U.S. GAAP should be modified for private companies. We look forward to meeting with the new PCC in the fourth quarter."

FASB member Daryl E. Buck will serve as the FASB liaison to the PCC.

Members of the PCC, including the chair, are appointed to an initial term of three years, with each member eligible for reappointment.

The PCC will determine whether modifications or exceptions to existing nongovernmental U.S. GAAP are required to address the needs of users of private company financial statements, based on criteria mutually agreed to by the PCC and the FASB. Before being incorporated into U.S. GAAP, PCC recommendations will be subject to a FASB endorsement process.The PCC also will serve as the primary advisory body to the FASB on the appropriate treatment for private companies for items under active consideration on the FASB's technical agenda.

About NASBA
Celebrating 104 years as the trusted resource for regulation and professional services, the National Association of State Boards of Accountancy (NASBA) serves as a forum for the nation's state boards of accountancy, which administer the Uniform CPA Examination, license more than 650,000 certified public accountants and regulate the practice of public accountancy in the United States. NASBA's mission is to enhance the effectiveness of state boards of accountancy in meeting their regulatory responsibilities. The Association promotes the exchange of information among the accountancy boards, serving the needs of the 55 U.S. jurisdictions.   

NASBA is headquartered in Nashville, TN, with a satellite office in New York, NY, and a Computer Testing Center and International Call Center in Guam.

About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances of both the Governmental Accounting Standards Board and its counterpart for the private sector, the Financial Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Financial Accounting Standards Board
Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit the FASB website.

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Financial Accounting Foundation Appoints Members To Newly Created Private Company Council

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Strong Demand, Growing Momentum Seen for U.S. CPA Exam at International Test Sites

NEW YORK and NASHVILLE, TN (August 29, 2012) –The American Institute of CPAs (AICPA), and the National Association of State Boards of Accountancy (NASBA) this month marked a successful first year since the launch of the U.S. CPA Examination at test sites in Japan and the Middle East.

"Historically, there has been strong demand for the U.S. CPA Exam in Japan and the Middle East, which is one of the key reasons we selected these locations to debut international administration of the Exam last year," said Craig Mills, AICPA vice president of examinations and CPE. "We have been very pleased with the level of interest from candidates in the first year of international administration of the CPA Exam and hopefully that momentum will continue to build in the coming years."

International administration of the Exam is offered in English and is the same as the U.S. Exam administered by the AICPA, NASBA, and Prometric in the United States.  The Exam is available to candidates at test centers administered by Prometric.

Colleen Conrad, CPA, NASBA Executive Vice President & COO

The Uniform CPA Exam was made available to candidates in Bahrain, Japan, Kuwait, Lebanon and the United Arab Emirates in August 2011– the first time in history it has been administered outside of the United States and its jurisdictions. Previously, international candidates were required to travel to the U.S. to sit for the Exam.

"The ability to sit for the U.S. CPA Exam in their home market provides tremendous benefits to candidates in Japan, improving convenience, reducing costs and allowing candidates to dedicate their attention to their studies," said Hiroshi Miyamasu, of the Japan Society of U.S. CPAs (JUSCPA), a nationwide organization of U.S. CPAs who are principally employed or reside in Japan.

Licensure requirements for international candidates are the same as for U.S. CPA candidates. Along with passing the Uniform CPA Examination, international candidates must meet educational and experience requirements as mandated by U.S. Boards of Accountancy. International candidates who pass the exam also agree to obtain a certificate/license through a participating Board of Accountancy with the signing of the informed consent form. Once candidates pass the Exam, they have three years to obtain their U.S. CPA license.

"The U.S. CPA license is a clear sign of an individual's expertise and commitment, and with the Exam now administered in Japan we foresee further growth in demand from both candidates and employers," said Miyamasu.

In the United States, Boards of Accountancy have the legal authority to award the U.S. CPA license. Applications may be made through certain U.S. Boards of Accountancy offering eligibility for international candidates. A list of participating Boards of Accountancy and information about fees is posted on the NASBA website.

An international testing FAQ sheet is available at the AICPA Uniform CPA Examination website.

About NASBA
Celebrating 104 years as the trusted resource for regulation and professional services, the National Association of State Boards of Accountancy (NASBA) serves as a forum for the nation's state boards of accountancy, which administer the Uniform CPA Examination, license more than 650,000 certified public accountants and regulate the practice of public accountancy in the United States. NASBA's mission is to enhance the effectiveness of state boards of accountancy in meeting their regulatory responsibilities. The Association promotes the exchange of information among the accountancy boards, serving the needs of the 55 U.S. jurisdictions.   

NASBA is headquartered in Nashville, TN, with a satellite office in New York, NY, and a Computer Testing Center and International Call Center in Guam.

About AICPA
The American Institute of Certified Public Accountants (AICPA) is the world's largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest.  AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center.

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AICPA and NASBA Mark Successful First Year of International Administration of U.S. CPA Exam

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