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June 2017

The Assault on Regulations

While President Donald Trump has launched an effort to slash regulations that he believes constrain American businesses, state legislators have been launching their own campaign aimed at reducing, and in some instances eliminating, occupational oversight. To assist them in the process, think tanks have been drafting regulatory reform policies dedicated to this philosophy; these reforms have made their way into a record number of bills filed in 2017.

NASBA Legislative Support Committee will be formulating a strategy to educate those who are sponsoring these anti-regulatory policies, and the legislators filing legislation that mirror their policies, in order to protect the integrity of the accounting profession and the public, which Boards of Accountancy are charged to protect.

Click here to view a more detailed map showing the anti-regulatory policies filed by jurisdiction and links to those policies.

You can also view bills by clicking on the “LEGISLATION BY TOPIC” link and using the “Lawful Occupation” filter.

If you have questions or need additional information, contact John Johnson, Director of Legislative and Governmental Affairs, at jjohnson@nasba.org or 615.880.4232.

Stay Apprised of Legislation Signed Into Law

As of June 20, 2017, all 55 Jurisdictions have convened their 2017 legislative session, 36 Jurisdictions have adjourned, and eight states (WA, AK, SD, MO, LA, SC, WV and CT) have reconvened into special session.

NASBA has added under the “RESOURCES” section a quick-link, to all legislation signed into law impacting the profession.

"Active Supervision" Legislation Signed Into Law in Montana

Governor Bullock signed into law legislation aimed at providing active supervision over boards controlled by active market participants. The new act authorizes the Commissioner of Labor and Industry to exercise active supervision of licensing board actions that are anticompetitive or potentially anticompetitive.

To view HB 141, click on the above “LEGISLATION BY TOPIC” link and then on the “Active Supervision” button; you may also click on “LEGISLATION BY JURISDICTION” link and then click on the jurisdiction within the map to see a list of legislative bills from that state or jurisdiction.

Nevada and Vermont Attest Legislation Signed Into Law

In May 2014, the Uniform Accountancy Act (UAA) revised the definition of attest to include any examination, review or agreed-upon procedure performed using the Statement on Standards for Attestation Engagements (SSAE).

By the end of 2016, 41 jurisdictions had adopted the updated, comprehensive definition of attest, which included 11 jurisdictions in 2016. In 2017, nine state legislatures filed attest legislation, with six of those having their legislation signed into law.

Attest Legislation Signed into law in 2017: Arkansas (3/1/17); Utah (3/21/17); New Mexico (3/21/17); Idaho (4/16/17); Nevada (5/9/17); and Vermont (5/23/17).

Number of Jurisdictions that have adopted: 47

To view the Attest legislation filed in the nine Jurisdictions in 2017, click on the above “LEGISLATION BY TOPIC” link and then on the “Attest” button.

For those Jurisdictions that have not moved forward in adopting the updated attest language found in 7th edition of the Uniform Accountancy Act, and would like additional information or assistance, please contact John Johnson, NASBA’s Director of Legislative and Governmental Affairs, at jjohnson@nasba.org or 615.880.4232.

Missouri's Attest & Firm Mobility Legislation Delivered to Governor

On May 22, 2017, SB 395, which contains both Attest and Firm Mobility, was delivered to Governor Eric Greitens. As of the publication of this edition, this bill had not yet been signed into law.

Florida's Firm Mobility Legislation Delivered to Governor

On June 14, 2017, CS/HB 987, was delivered to Governor Rick Scott. As of the publication of this edition , this bill had not yet been signed into law.

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