Portland, Ore. (June 12, 2003) -- The National Association of State Boards of Accountancy continues its review of how state boards should respond to the Sarbanes-Oxley law in its western regional membership, which began here June 11.
The meeting, like the association's eastern regional meeting last week, will provide individual state boards a forum to discuss the law's sweeping new audit and independence standards and NASBA's dealings with the Public Company Accounting Oversight Board, the group the law established to regulate the financial reporting of publicly registered companies.
NASBA also hopes to ensure that states act uniformly in adopting Sarbanes-Oxley provisions on their own.
"Now, more than ever, state boards must embrace a grander view of regulation that acknowledges and accepts federal government actions as well as activities of neighboring states," read a letter from NASBA president David Costello that was distributed at the regional meetings. Peer review and corporate governance provisions set by Sarbanes-Oxley are also among the dozens of items to be addressed.
The computerized CPA examination, scheduled to be launched next year, is also a featured item on both regional meeting agendas.
-- John M. Covaleski
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