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ABO talks audit experience requirement at June meeting

Written on Jun 13, 2019

By Laura Hay, CPA, CAE, OSCPA executive vice president

Actions of the Accountancy Board of Ohio – the State of Ohio government entity charged with licensing, regulating, and when necessary, disciplining CPAs, can significantly affect the practice of all CPAs. That’s why OSCPA represents the profession at every ABO meeting and shares the most recent information in our Professional Standards and Responsibilities programs.

Key takeaways from the June 7 meeting included:

  • Discussion over whether CPAs should have an experience requirement to conduct audits. This question is before the AICPA/NASBA Uniform Accountancy Act Committee, of which ABO Executive Director John Patterson is a member. The ABO discussed this question and a proposal before the board to revisit the specialized CPE requirement for CPAs performing audits.
  • The ABO also discussed obtaining trend information regarding student attitudes toward the CPA, market demand and future projections.
  • CPAs should take care in first license renewals in the state’s new professional licensing software platform. If an election is unclear, contact ABO to ensure you are renewing the type of license you intended. Keep a copy of your confirmation that you completed the transaction.
  • When relocating to another state, CPAs should contact that state’s board of accountancy regarding its registration requirements.
  • Three formal hearings were held: one related to failure to renew a firm registration, and one for failure to provide supporting documentation for CPE reported. A third had his CPA certificate reinstated after completing the terms of an SEC suspension.

The next meeting of the ABO is scheduled for Friday, July 19, at 10 a.m. at 77 S. High Street, 31st floor, Columbus.

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