Minutes
01
- E - 0 Call to Order
Ms.
Newman-Limata noted that a quorum was present and called
the meeting to order at 9:45 a.m.
01 - E - 1 Discussion of Legislative Activity on the
Uniform Accountancy Act Bill
Mr.
Grumet reviewed the current status of negotiations with
the legislature on the Society-endorsed accountancy bill
and other bills presently before the legislature. He asked
for the committee's guidance in the following areas:
- Definition
of the Practice of Public Accountancy
- Grandfathering
of Licensed Public Accountants
- 150-Hour
Education Requirement and Substantial Equivalency
- Commissions,
Referral Fees, and Contingency Fees
- 120-Hour
Triennial CPE Requirement
- Mandatory
Peer Review
- Authorization
for Licensees to Perform Reviews and Compilations
The
Committee instructed staff to prepare a confidential memorandum
containing the direction resulting from the Committee's
discussion. In addition, the Executive Committee designated
President Nancy Newman-Limata and Kevin McCoy, Vice-President
for Legislation to represent them in providing additional
direction to the staff during legislative negotiations on
the UAA bill, provided such direction is within the parameters
outlined during the meeting.
01
- E - 2 Adjournment
Ms.
Newman-Limata asked if there was any further business to
come before the meeting. There being none, the meeting adjourned
at 11:10 a.m.
Respectfully
submitted, Jo Ann Golden President-Elect and Acting Secretary
