State Boards Developing Nationwide Licensee Database
October 27 2003 - 10:49PM
PR Newswire (US)
State Boards Developing Nationwide Licensee Database MAUI, Hawaii,
Oct. 27 /PRNewswire/ -- Preliminary plans for a database that will
quickly validate the current licensing status of certified public
accountants throughout the country were unveiled at the 96th Annual
Meeting of the National Association of State Boards of Accountancy,
October 26 - 29 in Maui. This new project comes just as NASBA is in
the final stages of developing a certified public accountant
candidate information database, for the exclusive use of the
computer-based CPA examination to be launched in April 2004.
Technical expertise harnessed for the examination project will be
assigned to the licensee database project, which has long been
recommended by state accountancy board representatives. In
addition, the licensee database will provide an efficient means for
independent auditors of companies listed with the Securities and
Exchange Commission to validate state licensing information needed
for registration with the Public Company Accounting Oversight
Board. Representatives from 50 state boards of accountancy
attending the Annual Meeting were urged by NASBA President and CEO
David A. Costello to join forces to expedite the project. "Advances
in technology, along with NASBA's strength in providing IT
solutions, make this a particularly appropriate time to implement
this important project," Mr. Costello said. President Costello
noted, "NASBA and its member boards are uniquely positioned to
develop the licensee database. This project can benefit not only
state boards, but also individual licensees and accounting firms
who share NASBA's commitment to reducing barriers to interstate
practice. With state board and private cooperation, we can have a
licensee database that will enhance confidence in the quality of
licensees practicing within the 54 jurisdictions." NASBA Chair
David A. Vaudt, CPA, stated in his inaugural address on October 28:
"Remember, no one can practice public accountancy in the United
States unless licensed by one of our state boards of accountancy.
While the PCAOB and the SEC can prohibit a CPA from providing
services to SEC registrants, only state boards can protect the
public by revoking the license of a CPA to provide services to any
party. Our relationship with the PCAOB is strong, and we were so
fortunate to have PCAOB member Kayla Gillan as our keynote speaker
at this year's Annual Meeting. The close cooperation and working
relationship among the PCAOB, NASBA and state boards will result in
the strongest of regulatory efforts." November 2004 is the
anticipated launch date for the new licensee database, with user
panels scheduled to begin in December 2003. State boards of
accountancy license approximately 570,000 certified public
accountants in the 50 states, District of Columbia, Guam, Puerto
Rico and the Virgin Islands. NASBA, with headquarters in Nashville,
is the voluntary organization of the boards of accountancy.
DATASOURCE: National Association of State Boards of Accountancy
CONTACT: Thomas Kenny, Communications Director of NASBA,
+1-615-880-4237 Web site: http://www.nasba.org/
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