Issues Affecting the Profession
1. Sarbanes Oxley
Enacted in the wake of corporate scandals, Sarbanes Oxley sets new standards of accountability and board behavior.
2. Ethics Requirements
Under the new state requirements, all Arizona CPAs reporting January, 2005 and after will be required to meet an Arizona-specific four-hour ethics CPE requirement. During each two-year renewal period, the four hours of CPE will require a minimum of one hour of AICPA Professional Code of Conduct and one hour of Arizona Accountancy Board statutes and administrative rules.
3. New Tax Laws:
Go here to read a brief summary of recent Arizona tax law changes compiled by James Busby. Most will go into effect August 12, 2005.
