Odessa, Texas (Dec. 30, 2002) -- K. Michael Conaway, the 2002-2003 chairman of the National Association of State Boards of Accountancy and presiding officer of the Texas State Board, has launched a run for a soon-to-be-vacant congressional seat in the Lone Star State.

Conaway a CPA, is seeking to fill the void left by 10-term Republican incumbent Larry Combest, who last month abruptly announced that he would resign from the state’s 19th district shortly after being re-elected by an overwhelming margin.

"I believe that I have a wealth of regulatory experience to bring to the table," Conaway told Electronic Accountant. "Especially in light of Sarbanes-Oxley."

Combest will officially tender his resignation when Congress reconvenes in January and will take effect May 31, 2003. The special election is scheduled for May 3, 2003.

Conaway has served on the Texas State board since 1995 when he was appointed by then-Governor George W. Bush. In light of his decision to run for office, he has offered his resignation as a member of the state board.

"I was thrilled to have served on the board, but I’m now raising money for my campaign and you can’t ask CPAs in your home state for contributions without an appearance of a conflict of interest."

He said he would however, serve out his term as NASBA chair.

If elected, Conaway’s district would comprise 19 counties and cities such as Odessa and Lubbock.

-- Bill Carlino

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