From Kimberly.FAST at oregon.gov Fri Aug 21 14:57:13 2015 From: Kimberly.FAST at oregon.gov (FAST Kimberly * BOA) Date: Fri, 21 Aug 2015 21:57:13 +0000 Subject: [Boainactive] Proposed Rules - Comment Opportunity / Fee Increases / Changes in Attest Definition Message-ID: <6196585478109C49B4199D47EAFCC73EAA3EB898@WPORGEXCL10.ENTSS.OR.GOV> Dear Licensees, Applicants and Candidates of the Oregon Board of Accountancy, It is my pleasure to write to all of you with an important opportunity to comment on proposed administrative rules of the Board of Accountancy (Board), including a related update on a very successful 2015 Oregon Legislative Session for the Board. In essence, the proposed rules related to two key bills, fee increases for the Board (SB 581) and an update to Board statutes (SB 272) that includes an updated definition of attest. The proposed rules and the statutory changes referred to are the product of a consensus developed in many consultations with our stakeholders, including OSCPA and OAIA, continuing since Fall 2013. These discussions led to a consensus that broad-based fee increases were necessary for the profession. For the Board this includes fees set by statute, and changed by SB 581 (increase of individual renewal fee from $160 to $255) and increase of the firm registration renewal fee (from $175 to $265). OSCPA took the lead on these changes and carried that bill through the 2015 session - really an amazing show of support from the profession for the Board, and one that was very well received by legislators as well. The Board is very grateful, including for the on-going support of the profession for the commensurate fee increase proposal of similar size set by rule, now proposed in this round of rulemaking. Please refer for further details to the links below for SB 581 and proposed rules with explanations. The other main driver for the proposed rules is passage of SB 272. This bill included changes in the definition of attest which were necessary to address the broader scope of assurance services that have become part of CPA practice and were not contemplated in the original definition of attest. There is public protection component here as well as this new law is also designed to prevent non-CPAs from using CPA standards language such as the Standards for Attestation Engagements (SSAE) and represent to consumers that they have followed those standards, in essence implying training and accountability in standards that are exclusive to the CPA profession - when no such accountability or oversight for non-CPAs exists. The proposed rules ensure this update is reflected at the level of rule as well, and makes other changes in definitions to ensure rules and statutes line up correctly. The high-level summary above is not intended as a replacement for you to review the proposed rules, which are broader than just the highlights above. The Board is again using an improved format to present the proposed rules to you, which includes specific explanations for the changes. The written comment period closes on September 24, 2015 at 5:00 p.m., and oral comment can be provided at the Board offices in Salem at 2:00 p.m. on September 17, 2015, at a formal Rulemaking Hearing. Please refer to the following background documents under the following links for further information on your opportunity to comment, the proposed rules, and the supporting documentation for SB 272 and SB 581 referred to above. Proposed Rules with Explanations Notice of Rulemaking Hearing with Statement of Fiscal Impact Background Materials on SB 272 (2015) Background materials on SB 581 (2015) The Board is scheduled to meet by conference call on September 30, 2015 to review the comment record and determine what final version of the proposed rules should be adopted. Fee increases proposed by rule are currently planned to take effect as early as October 1, 2015, pending final decision by the Board on September 30, 2015. Thank you for time in reviewing this e-mail and consideration of this information. Sincerely, Martin Pittioni Executive Director Board of Accountancy 3218 Pringle Rd SE, Suite 110 Salem, OR 97302-6307 Phone: (503)378-2280 Fax: (503)378-3575 martin.w.pittioni at oregon.gov www.oregon.gov/BOA Follow us on twitter: @oregon_boa Connect with us on Facebook: Oregon Board of Accountancy Let us know how we are doing by taking this quick survey: https://www.surveymonkey.com/s/ORBOA -------------- next part -------------- An HTML attachment was scrubbed... URL: