October 25, 2002 (Revised December 13, 2002)
The Washington State Board of Accountancy (Board) is statutorily charged with the responsibility to:
- Promote the dependability of information used for guidance in financial transactions or for accounting for or assessing the status or performance of commercial and noncommercial enterprises, and
- Protect the public interest by requiring that persons who hold themselves out as licensees or certificate holders conduct themselves in a competent, ethical, and professional manner.
- The Board is also statutorily authorized to establish rules which the Board finds necessary or appropriate to implement the Public Accountancy Act [RCW 18.04].
- Acknowledging serious concerns with the effectiveness of the current regulations governing CPA independence, and further acknowledging the recent nationwide decline in confidence with licensee's ethical standards, the Board establishes the Independence Committee.
- The Committee's purpose is to review the Board's independence rule and make recommendations to ensure the independence rule supports the above responsibilities and the public's expectations.