The Uniform Accountancy Act committees of the American Institute of CPAs and the National Association of State Boards of Accountancy issued an exposure draft of updated rules governing the profession.

The committees are asking that comments on the proposed revisions (which can be viewed in full at either www.aicpa.org or www.nasba.org) be submitted by Oct. 3.

The revision process began last October and has included over 50 meetings and conference calls by the committees and various task forces. The proposed revisions are intended to enhance the UAA statutory provisions related to mobility, enforcement and professional standards/ethics. In May, the committees came together to review and approve recommendations submitted by the task forces. In 1997, the AICPA and NASBA last approved significant changes to their jointly published Uniform Accountancy Act and Uniform Accountancy Act Rules. The UAA is a model bill and set of regulations that the AICPA and NASBA designed to provide a uniform approach to regulation of the accounting profession.

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