This month’s update includes information on Arizona’s state revenue projections, an update on the Arizona State Board of Accountancy and its Advisory Committees, an article about the AICPA’s letter to Congress and a PAC update.
State revenue projections continue to improve despite initial estimates reflecting a shortfall. The Joint Legislative Budget Committee (JLBC) initially estimated a shortfall of $638 million in Fiscal Year 2020. That figure was later revised to $190 million. The JLBC now estimates, given the level of uncertainty with COVID-19, there is a possibility the state could have no shortfall. This is in part due to the June TPT payments reflecting the “Wayfair” collections for the first time (as outlined in HB 2757 [Laws 2019 Chapter 273]).
State Board of Accountancy Update
At the June State Board of Accountancy meeting, the Board approved the proposed rulemaking requests to include emails in the address of record. The Board also reviewed the Uniform Accountancy Act Model Rules Exposure Draft and decided to draft a letter in response. The Board expressed concerns with the complexity and feasibility of implementing the changes related to accreditation decisions.
The Society would like to thank outgoing Board President William C. Heimerdinger, CPA, for serving a five-year term and providing a valuable service to the public. Effective July 2020, new Board officers are:
Giselle C. Alexander, CPA, President
Tiffany Young, CPA, Secretary
Bruce David Beach, CPA, Treasurer
Robert Edward Dubberly, CPA, has been appointed by Governor Ducey to serve on the Board of Accountancy. Dubberly fills the vacancy left by outgoing Board President, William C. Heimerdinger, CPA. Congratulations to Rob and thank you for serving.
State Board of Accountancy Advisory Committees
As mentioned in last month’s update, the Board of Accountancy has six advisory committees that assist in overseeing the CPA profession and protecting the public. If you’re interested in serving on these committees, send an email to ASCPA Director of Government Relations John Baumer. Overview of Advisory Committees. Current Advisory Committee Vacancies.
AICPA Letter to Congress
The AICPA sent a letter to Congressional leadership with recommendations for the next phase of federal legislation addressing COVID-19 pandemic relief. The Society supports these efforts and shared the recommendations with the members of Arizona’s Congressional delegation. Read more about the recommendations included in the AICPA letter in this article.
ASCPA PAC Update
With primary elections just around the corner, leaders of the profession are responding to the Society’s request for PAC contributions so we can continue contributing to legislators and candidates who support issues that matter to CPAs. We appreciate the support and encourage you to invest in the profession with a contribution to our PAC.