2005 Board Meetings and Agendas
Minutes of a Meeting of the Board
Time and Place of Meeting:
Friday, January 28, 2005 - 9:01 a.m. - 11:48 a.m.
Hilton Seattle Airport & Conference Center
17620 Pacific Highway South
Robin A. Clark, CPA, Chair
Ronald D. Sabado, CPA, CMA, Vice-Chair
Astrid Aamot, Secretary
Barbara J. Adams, CPA, Board Member
James W. Caley, CPA, Board Member (participated via phone)
Zoe A. Foltz, CPA, Board Member
Mien Julia Tai, CPA, Board Member
Mary M. Tennyson, Senior Assistant Attorney General
Dana M. McInturff, CPA, CFE, Executive Director
Sandra Shoemaker, CPA, Deputy Director
Call to Order
Robin A. Clark, CPA, Chair, called the Board meeting to order at 9:01 a.m.
The Board made one minor editorial correction to the minutes of the December 10, 2005 Board Meeting and unanimously approved the minutes as corrected.
Executive Session with Legal Counsel
At the request of the Executive Director, Dana M. McInturff, the Board went into Executive Session to discuss personnel matters.
Legal Counsel's Report
Mary M. Tennyson, Senior Assistant Attorney General, reviewed the "Acknowledgment and Agreement" requested by the Public Company Accounting Oversight Board (PCAOB) relating to the receipt of, and subsequent treatment of, inspection reports prepared by the PCAOB under section 104(g)(2) of the Sarbanes-Oxley Act of 2002. Ms. Tennyson concluded the Board can legally enter into this agreement with the PCAOB. After discussion, the Board voted unanimously to sign the agreement.
The Board Chair, Robin A. Clark, proposed the following subcommittees be created - Outreach, CPE, and Incidental Practice. After discussion, the Board voted unanimously to establish the proposed committees. The following individuals volunteered to serve on each committee:
- Outreach Subcommittee
Committee Chair - Ronald D. Sabado
Members - James W. Caley, Mien Julia Tai and Robin A. Clark
- CPE Subcommittee
Committee Chair - Astrid Aamot
Members - Barbara J. Adams and Mien Julia Tai
- Incidental Practice Subcommittee
Committee Chair - James W. Caley
Members - Zoe A. Foltz and Laurie Tish
CPA Exam Liaison Report
Robin A. Clark, CPA, Board Chair and Exam Liaison Chair discussed exam fees with the Board members and noted that a rule amendment to WAC 4-25-530 will be presented later in the agenda.
Legislative Liaison Committee
Practice Review Committee
Thomas J. Sadler, CPA, Committee Chair, reported on the Committee's January 11, 2005 meeting. The Committee suggested:
- The Board's Quality Assurance Review (QAR) Policy be revised to include the review of initial attest reports in the regular QAR cycle, and
- A meeting with the Washington Society of CPAs (WSCPA) Executive Peer Review Committee be arranged to discuss the AICPA peer review program.
The Board reviewed the proposed revisions to the QAR Policy, and noted one minor verbiage correction. The proposed policy was unanimously approved as corrected.
The Board agreed the Practice Review Committee should arrange to meet with the WSCPA Executive Peer Review Committee to discuss the AICPA peer review program.
Quality Assurance Review (QAR) Committee
Sandra Shoemaker, CPA, Deputy Director, reported that the QAR Status Forms were mailed in January to the firms selected to participate in the Board's 2005 QAR cycle.
Professional/Educational Organization Committee
Barbara J. Adams, CPA, Committee Chair, reported that during the last quarter, the Committee recognized the Center for Professional Education (CPE), Inc.
Firm Name Committee
Dana M. McInturff, Executive Director, reported the following three firm names were approved by the Committee during the last quarter:
- Link Accounting and Consulting
- CPApartner, Inc.
- Parkside CPA
CPE Waiver Committee
Late Fee Waiver Committee
Education Rule Review
Ronald D. Sabado, CPA, CMA, Committee Chair, reported that a committee meeting is scheduled for February 7, 2005 to develop a plan of action. The plan will be presented to Board at the April 2005 Board meeting.
Sanctions and Penalty Guidelines
Dana M. McInturff, Executive Director, presented a proposed revision to the Board's Policy #2004-1 Sanction and Penalty Guidelines. After review and discussion, the Board voted to approve the proposed revision as presented.
Robin A. Clark, CPA, Board Chair, reviewed the December 31, 2004 letter from the AICPA, NASBA and Prometric advising of Prometric's intent to increase the per hour seat charge from $17 to $22.50 effective with ATTs (Authorizations to Test) submitted July 1, 2005.
A proposed rule amendment to WAC 4-25-530 which recognizes the new exam fee was submitted to the Board for consideration. After discussion, the Board voted unanimously to approve the proposed amendment as presented and directed staff to issue a CR102 and to schedule a rules hearing at 9:00 a.m. on April 29, 2005.
In a unanimous vote, the Board directed staff to draft a letter to NASBA supporting the California State Board's request to hold exam fees down. The Board Chair will sign the letter.
Board of Directors - Thomas J. Sadler, CPA, presented a report on the activities of the NASBA Board of Directors.
Nominating Committee and UAA Committee - Laurie Tish, CPA, presented a report to the Board on the activities of both NASBA committees.
Robin A. Clark, CPA, Board Chair, noted that NASBA has requested Board recommendations for Nominating Committee Members, Directors-at-Large, Regional Directors, and Vice Chair nominations. After discussion, the Board voted unanimously to nominate Thomas J. Sadler, CPA, for the NASBA Board of Directors Vice Chair position. The Board directed staff to draft a nomination letter to NASBA.
Motion for Entry of Order on Default - Susan Helen Tillery
The Executive Director, Dana M. McInturff, CPA, CFE, reviewed the "Motion for Entry of Order and Default" and related documents in the matter of Susan Helen Tillery. After discussion in executive session, the Board entered Findings of Fact, Conclusions of Law and Default Order.
Executive Director's Report
WBOA-NEWS - As of January 28, 2005, 721 individuals have subscribed.
Investigation Management Report - The Executive Director distributed and discussed the Investigation Management Report.
Other - Dana McInturff, Executive Director distributed a media release from the Office of the Governor concerning government accountability legislation.
The following individuals presented public comments to the Board:
- Jerry Miller, Washington Association of Accountants
- Marcia Holland, Washington Society of CPAs
The regular Board meeting was adjourned at 11:48 a.m.