Sunday, October 29, 2017

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1 FOREWORD Agenda Recognizing the need for cooperation and communication among State Boards of Accountancy, NASBA sponsors an Annual Meeting in the fall of each year that provides a unique opportunity for state board members, executive directors and others interested in the profession to discuss freely and candidly the major issues facing state regulation of public accountancy, and by doing so to shape the future. The site of NASBA s 110th Annual Meeting, New York City, is the vibrant heart of commerce, fashion, art, theater and music. In this inspiring setting, we will exchange new ideas and consider how to help the boards protect the public by creating an environment of collaboration among regulators, professionals, academics and other interested parties. Throughout the year, NASBA committees and staff have been engaged in communication with the member Boards of Accountancy to keep information flowing. The Annual Meeting is the capstone of those efforts. Speakers from the Public Company Accounting Oversight Board, International Ethics Standards Board for Accountants, multi-national CPA firms, and American Institute of Certified Public Accountants will join NASBA leaders in addressing the major regulatory issues involved in ensuring the boards licensees meet the public s expectations. Through plenary presentations, regional meetings and informal gatherings, participants will be encouraged to share their views with colleagues from other jurisdictions, and consider the ways in which accountancy boards can be responsive to the public s needs. In addition to the robust business program, NASBA has arranged a variety of social events that are designed to provide an opportunity to interact in a casual way and to make everyone s visit to New York City a memorable occasion. The Marriott Marquis is located in Times Square, in the middle of the theater district and surrounded by public transportation that can take attendees to the Metropolitan Museum of Art, United Nations, Statue of Liberty and Madison Square Garden, just to name a few of the City s many attractions. Everyone should take some time to explore this extraordinary city. 1.

2 REGISTRATION On Sunday, October 29, registration will be open from 3:00 pm until 5:00 pm at the Registration Desk (6th Floor). Thereafter, it will be open one half-hour before and during all business sessions. WELCOME NEW ATTENDEES New state board members and executive directors bring fresh ideas to NASBA. Because they are so important to our organization, we have affixed a first-time ribbon to the name badges of all delegates (board members) and executive directors attending their first NASBA Annual Meeting. If you are wearing a first-time ribbon, NASBA is particularly pleased you have joined us. If you see a first-time attendee, please extend a sincere welcome to him or her. Sunday, October 29, :30 5:30 pm Marquis Ballroom (9th Floor) CPT Ethics Workshop Scared Straight: White Collar Crime and Beyond Can you identify a fraudster? The NASBA Center for the Public Trust welcomes Dr. Richard Brody who will discuss fraud, the anatomy of fraudsters, and the detection and prevention of fraud. He will provide a profile of fraudsters and the conditions which enable fraud with references to the Fraud Triangle and the Fraud Concealment Homicide Triangle. Workshop participants can earn up to two ethics CPE credits. (Prior Registration Required for CPE Credit) Dr. Richard G. Brody, CPA, CFE, CFF, CGMA, FCPA Douglas Minge Brown Professor of Accounting/Bill Daniels Business Ethics Fellow University of New Mexico 6:00 8:00 pm Westside Ballroom (5th Floor) Welcome Reception Say Hello to old friends and meet new acquaintances as we start to consider the issues that will unfold over the next few days. 2.

3 Monday, October 30, :15 8:15 am Westside Ballroom (5th Floor) Breakfast (All Welcome) 8:30 am 12:00 pm Broadway Ballroom (6th Floor) 8:30 8:50 am Welcome and Introductions Telford A. Lodden, CPA Chair, NASBA Past Chair, Iowa Accountancy Examining Board Partner, Brooks Lodden, P.C. 8:50 9:00 am Welcome from New York Board Robert Kawa Chair, New York State Board for Public Accountancy 9:00 10:00 am Keynote Address The Profession of the Future Fortune magazine has named Cathy Engelbert one of its Most Powerful Women for several years, as she leads Deloitte s more than 86,000 professionals in the United States. Ms. Engelbert has predicted that in a decade the profession will be doing less manually intensive work but will still be adhering to its principles of independence, objectivity and skepticism, and its core mission of being a force for good in the capital markets. She will address the conference s theme Shaping the Future as a major player in this effort. Cathy Engelbert, CPA Chief Executive Officer, Deloitte 10:00 10:15 am Report from NASBA Chair Ted Lodden summarizes NASBA s activities during the past year. His focus on professional competence has encouraged progress in recognition of international accountants as well as discussions with educators and accreditors domestically. Assisted by the work of NASBA s committees and staff, Chair Lodden has been actively involved in responding to exposure drafts. He has guided state boards to more cooperative and productive relationships with the profession. Chair Lodden will report on the progress of initiatives he launched, as well as those launched by his predecessors. Telford A. Lodden, CPA Chair, NASBA 3.

4 Monday, October 30, 2017 continued 10:15 10:45 am Impact of the New Version of the Uniform CPA Examination and Future Developments How did the revised Examination, launched in April, effect candidate volumes and pass rates? How are the boards handling candidates navigating the scheduled score release delays? Ms. Conrad and Mr. Decker will answer these questions as well as report on forthcoming Exam changes, international activities, recent CPA Exam candidate survey results and candidate communications efforts. Besides these anticipated issues, they will also talk about how NASBA and the AICPA worked together with state boards to handle the hurricane-effected candidates. Colleen K. Conrad, CPA Executive Vice President and COO, NASBA Michael A. Decker Vice President Examinations, AICPA 10:45 11:00 am Break 11:00 11:15 am Broadway Ballroom (6th Floor) Future Plans from the AICPA Chair Once again, the leader of the American Institute of CPAs (AICPA), an arm of the Association of International Certified Professional Accountants, Kimberly N. Ellison-Taylor reports on its ongoing and upcoming projects and how they will impact the state accountancy boards. Ms. Ellison-Taylor looks at the roles that the AICPA and the Boards of Accountancy need to play in shaping the future of CPA services. Kimberly N. Ellison-Taylor, CPA, CGMA Chairman, American Institute of Certified Public Accountants Global Accounting Strategy Director for the Financial and Professional Services Industries, Oracle America 11:15 am 12:00 pm The Price of Confidentiality Can the principle of confidentiality be set aside when there is a strong reason to do so? The International Ethics Standards Board for Accountants new rule on how to respond to a client s non-compliance with laws and regulations (NOCLAR), which went into effect on July 15, maintains it should be set aside in certain circumstances. IESBA leadership announced this standard raised the bar for the ethical conduct of all accountants. Earlier this year, the AICPA Professional Ethics Executive Committee proposed a standard based on IESBA s-- but deleted a few key provisions. Some say it is because of the litigious society in the US, others say it is because current US standards are sufficient. For this discussion, we bring together an architect of the IESBA standard and a top US litigation attorney, with an expert on the AICPA Code of Professional Conduct serving as moderator. MODERATOR: Catherine R. Allen, CPA Chair, NASBA Standard Setting Advisory Committee Northeast Regional Director, NASBA Member, New York State Board for Public Accountancy Audit Conduct, LLC SPEAKERS: Richard Fleck Deputy Chair, International Ethics Standards Board for Accountants Consultant, Herbert Smith Freehills, LLP Michael R. Young, Esq. Litigation Partner, Willkie Farr & Gallagher 4.

5 Monday, October 30, 2017 continued 12:00 1:45 pm Westside Ballroom (5th Floor) Business Luncheon Freedom and Its Enemies John Stossel, renowned television journalist and reporter known for asking hard-hitting questions, will discuss individual freedom, free markets and the benefits and responsibilities of being an American. 2:00 3:50 pm Broadway Ballroom (6th Floor) 2:00 2:30 pm Rethinking Peer Review Administration Twenty-six Boards of Accountancy sent comments to the AICPA in response to their paper on revising their Peer Review Program s administration. Did those comments produce any modifications to the proposal? A report on what the plans now call for is presented. John F. Dailey, Jr., CPA Chair, Compliance Assurance Committee Director-at-Large, NASBA Member and Past President, New Jersey State Board of Accountancy 2:30 2:45 pm CPE Advances Are the Continuing Professional Education Model Rules finally rolling out? What changes were made since the comment period ended in June? What is on the horizon in CPE? Will new rules be proposed soon? Maria Caldwell reports on what is in place now and what is coming soon. Maria L. Caldwell, Esq. Director, Compliance Services, NASBA 2:45 3:00 pm Latest Uniform Accountancy Act and Model Rules The evergreen UAA and Model Rules continually adapt to meet the needs of the public, regulators and the profession. The UAA Committee s recent proposal for changing the Act to permit the use of management accounting titles by non-licensees drew many comment letters from the State Boards of Accountancy and others. Committee Chair Coalter Baker will report on the NASBA/AICPA UAA Committee s deliberations and forthcoming actions. J. Coalter Baker, CPA, PFS, CGMA Chair, NASBA Uniform Accountancy Act Committee Southwest Regional Director, NASBA Past Presiding Officer, Texas State Board of Public Accountancy Coalter Baker, CPA, Austin, TX 5.

6 Monday, October 30, 2017 continued 3:00 3:20 pm Legislative Update Once the UAA Committee works through revisions to the Act and the Model Rules, and the NASBA and AICPA Boards of Directors approve the final versions, nothing happens until the state boards adopt those changes. This session will summarize how legislation supported by NASBA, as well as legislation promoted by other groups, is making its way through the jurisdictions into law. John W. Johnson Director, Legislative & Governmental Affairs, NASBA 3:20 3:50 pm Improv and Ethics More than just talking about the need to maintain high ethical standards, the Center for the Public Trust (CPT) has given NASBA an avenue to promote those standards through lectures, conferences and instructional programs. A summary of the CPT s accomplishments for this year will be presented along with some entertaining improv comedy. Alfonzo Alexander President, NASBA Center for the Public Trust 3:50 pm RECESS 4:00 5:00 pm Broadway Lounge (8th Floor) Bids on Broadway Silent Auction Benefitting the NASBA Center for the Public Trust (CPT) Come join in the fun at the CPT s annual fundraising event! Enjoy mixing and mingling in the beautiful Broadway Lounge overlooking Times Square while you learn more about the CPT s efforts to develop ethical leaders across the country. You will also have the opportunity to bid on one of a kind silent auction packages and win outstanding prizes, while supporting the CPT s national impact. 6.

7 Tuesday, October 31, :00 9:20 am Regional Breakfast Meetings Representatives from neighboring jurisdictions have an opportunity to interact in an informal session to network and discuss matters of mutual concern. Regional directors will moderate the discussions. Attendance at these sessions is limited to past and present state board members and board staff. Central Region Belasco (5th Floor) Sharon A. Jensen, CPA Vice Chair, Minnesota State Board of Accountancy Synergistic Solutions Consulting Great Lakes Region Broadhurst (5th Floor) Sheldon P. Holzman, CPA Immediate Past Chair, Illinois Board of Examiners Retired Partner, Baker Tilly Virchow Krause, LLP Middle Atlantic Region Lyceum (5th Floor) Stephanie S. Saunders, CPA Member and Past Chair, Virginia Board of Accountancy Shareholder, Saunders & Saunders, PC Mountain Region Julliard (5th Floor) Nicola Neilon, CPA Secretary-Treasurer, Nevada State Board of Accountancy Partner, Casey Neilon & Associates, LLC Northeast Region Odets (4th Floor) Catherine R. Allen., CPA Member, New York State Board for Public Accountancy Audit Conduct LLC Pacific Region Imperial (5th Floor) Edwin G. Jolicoeur, CPA Member and Past Chair, Washington State Board of Accountancy Retired Principal, CliftonLarsonAllen, LLP Southeast Region Alvin (5th Floor) Maria E. Caldwell, CPA Member and Past Chair, Florida Board of Accountancy Audit Director, Deloitte & Touche, LLP Southwest Region Carnegie (5th Floor) J. Coalter Baker, CPA Past Presiding Officer, Texas State Board of Public Accountancy Coalter Baker, CPA, Austin, TX 8:00 9:20 am Westside Ballroom (5th Floor) Breakfast for Other Participants (All Welcome) 7.

8 Tuesday, October 31, 2017 continued 9:30 11:45 am Broadway Ballroom (6th Floor) 9:30 11:15 am Annual Business Meeting The election of NASBA officers and directors for , reports from several committees and the president. PRESIDING: Telford A. Lodden, CPA Chair, NASBA Minutes of the 109th Annual Business Meeting Janice L. Gray, CPA Secretary/Director-at-Large, NASBA Past Chair, Oklahoma Accountancy Board Partner, Gray, Blodgett & Company Awards Presentation Walter C. Davenport, CPA Chair, Awards Committee Past Chair, NASBA Past Chair, North Carolina State Board of CPA Examiners Retired Partner, Cherry, Bekaert & Holland Lorraine P. Sachs, CAE Executive Vice President Emerita, NASBA Election of Officers and Directors Donald H. Burkett, CPA Chair, Nominating Committee Past Chair, NASBA Past Chair, South Carolina Board of Accountancy Partner, Burkett, Burkett & Burkett, CPA, PA Report of the Bylaws Committee Edwin G. Jolicoeur, CPA Chair, Bylaws Committee Report of the Administration & Finance Committee A. Carlos Barrera, CPA Chair, Administration & Finance Committee Treasurer/Director-at-Large, NASBA Past Presiding Officer, Texas State Board of Public Accountancy Partner, Carr, Riggs & Ingram, LLC Report of the Audit Committee Jimmy E. Burkes, CPA Chair, Audit Committee Director-at-Large, NASBA Member and Past Chair, Mississippi State Board of Public Accountancy Consultant and Retired Partner, Haddox Reid Eubank Betts PLLC Report of the Executive Directors Committee Wade A. Jewell Chair, Executive Directors Committee Executive Director, Virginia Board of Accountancy 11:15 11:45 am Report from NASBA President and Chief Executive Officer Ken L. Bishop President and CEO, NASBA 11:50 am 12:00 pm NASBA Board Meeting The NASBA Board of Directors conducts their first meeting to elect NASBA s secretary and treasurer and one director-at-large. PRESIDING: Theodore W. Long, Jr., CPA Chair, NASBA 8.

9 Tuesday, October 31, 2017 continued 12:00 1:00 pm Westside Ballroom (5th Floor) Attendee Luncheon 1:15 3:20 pm Broadway Ballroom (6th Floor) 1:15 2:00 pm Inaugural Presentations New NASBA leaders are installed into office and outgoing leaders are thanked for their service. Meeting participants and their guests are invited to attend. Appreciation & Recognition Telford A. Lodden, CPA Chair, NASBA Past Chair, Iowa Board of Accountancy Managing Principal, Brooks Lodden, P.C. Inaugural Address of Chair Theodore W. Long, Jr., CPA Past Chair, Accountancy Board of Ohio Retired Partner, Ernst & Young 2:00 3:00 pm Blockchain, Bitcoin and Other Transforming Developments Technology is making significant changes to what is expected from CPAs. Our panelists will discuss what Blockchain and other related developments mean in terms of client service, how firms are working with educators to have graduates ready to enter the field and what standards and regulations will need to change to effectively oversee the profession. MODERATOR: W. Michael Fritz, CPA Chair, NASBA Regulatory Response Committee Past Chair, Ohio Board of Accountancy Partner, Deloitte PANELISTS: Jeanette M. Franzel, CPA Member, Public Company Accounting Oversight Board Roger E. O Donnell, CPA Global Head of Audit Data & Analytics, KPMG A. Michael Smith, CPA Partner & Internal Technology Audit Services Leader, PWC 3:00 3:20 pm Top Legal Developments NASBA Outside Legal Counsel Noel L. Allen alerts the Boards of Accountancy to cases that could have a major impact on their future operations. He will present concise summaries of top cases from across the spectrum of professional regulation. Noel L. Allen, Esq. Outside Legal Counsel, NASBA Legal Counsel, North Carolina State Board of CPA Examiners Partner, Allen & Pinnix, P.A. 9.

10 Tuesday, October 31, 2017 continued 3:20 pm RECESS 6:30 9:30 pm Broadway Ballroom (6th Floor) Spooktacular Celebration Join us for an evening with a Halloween theme and costumes. At this event, you will have a chance to meet with board members from around the country dressed up to enjoy dinner and dancing in a trick-or-treat setting. Wednesday, November 1, :00 9:15 am Julliard (5th Floor) State Board Presidents and Chairs Breakfast Meeting Board of Accountancy presidents and chairs are invited to meet with members of the NASBA Board of Directors for an exchange of ideas during breakfast. MODERATOR: Theodore W. Long, Jr., CPA Chair, NASBA 8:00 9:15 am Belasco (5th Floor) Executive Directors and State Board Staff s Breakfast Meeting Board of Accountancy administrative staff will have an opportunity to informally gather for breakfast as they update each other on their states activities. MODERATOR: Randall Ross, CPA Chair, Executive Directors Committee Executive Director, Oklahoma Accountancy Board 8:00 9:15 am Broadhurst (5th Floor) State Society and Professional Association Representatives Breakfast Meeting Enjoy breakfast and conversation on 2017 legislation with colleagues and NASBA s Director of Legislative & Governmental Affairs. 8:00 9:15 am Lyceum Complex (5th Floor) Breakfast (All Welcome) 10.

11 Wednesday, November 1, 2017 continued 9:30 11:45 am Westside Ballroom (5th Floor) PRESIDING: Theodore W. Long, Jr., CPA Chair, NASBA 9:30 10:00 am International Update In August, Chartered Accountants Ireland became the first association to renew their mutual recognition agreement with a document that clarifies the steps each individual must take to gain professional recognition in the partner country. Detailed negotiations to bring other transparent, effective agreements to the Boards are underway. A renewal of the IQAB/CPA Canada/Instituto Mexicano de Contadores Publicos agreement will be signed. MODERATOR: Sharon A. Jensen, CPA Chair, NASBA/AICPA International Qualifications Appraisal Board Central Regional Director, NASBA Vice Chair, Minnesota State Board of Accountancy 10:00 10:30 am The Evolving Profession Although procedures once associated with the accounting profession are being increasingly automated, valuable roles for the CPA profession continue to emerge. We will hear from the leader of the largest CPA association in the United States about steps being taken to ensure CPAs continue to be respected trusted advisers to the international business community. Barry C. Melancon, CPA, CGMA President & CEO, American Institute of CPAs CEO, Association of International Certified Professional Accountants 10:30 11:00 am Joining Forces with Education Accreditors Following up on questions raised by State Boards of Accountancy, the NASBA/AICPA Accounting Education Accreditors Task Force issued their recommendations in May on providing and recognizing quality education in a transparent manner that boards can rely upon. Now steps are being taken to work with accreditors to translate those recommendations into actions. We will hear a report on how this project is moving forward. Carlos E. Johnson, CPA, DBA Co-Chair, NASBA/AICPA Accounting Education Accreditors Task Force Past Chair, NASBA and Past Chair, Oklahoma Board of Accountancy Sharon Lassar, CPA, Ph.D. Member, NASBA/AICPA Accounting Education Accreditors Task Force Associate Dean for Executive and Professional Programs, University of Denver 11.

12 Wednesday, November 1, 2017 continued 11:00 11: 15 am Questions for NASBA Leaders Chair Theodore W. Long, Jr., and President Ken L. Bishop take questions from the audience. 11:15 11:30 am Closing Remarks Incoming NASBA Chair Long summarizes some of the Meeting s highlights and shares how he will carry forward these ideas during his year in office. Theodore W. Long, Jr., CPA Chair, NASBA 11:30 11:45 am Super Raffle NASBA Communications Director, Thomas Kenny, and staff host a fun-filled raffle of super prizes. Only those in the room will be eligible to be win, so be sure to stick around. 11:45 am NASBA 110th Annual Meeting Adjourns 12.

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