News, Legislative Update

Legislative and Accountancy Board Update – October 2020

Published on October 21, 2020

This month’s update includes information on the Arizona State Board of Accountancy, the inaugural ASCPA Advocacy Roundtable event, a new interim rule for PPP loan forgiveness, an ad hoc committee on emergency powers and a CPA license renewal reminder.

State Board of Accountancy

At last month’s State Board of Accountancy meeting, the Board held discussions on its policies regarding disciplinary actions and directed staff to modify the disciplinary matrix guide as it relates to other jurisdictions. The Board also discussed diversity and inclusion among the members of the Board and the advisory committees. Ryan Parker Evans, CPA, has been appointed to the Accounting and Auditing Advisory Committee, and Pamela D. Mullins, CPA, has been appointed to serve another term on the Peer Review Oversight Advisory Committee. Congratulations to Ryan and Pamela and thank you for your service.

ASCPA Advocacy Roundtable Event

Coming soon!  Mark your calendars for Dec. 9 for the inaugural ASCPA Advocacy Roundtable event. During this virtual roundtable, you’ll get the inside scoop on the latest in state politics and an introduction into how the Society’s advocacy efforts make your voice heard at the state Legislature. Join ASCPA lobbyist Ryan DeMenna for an elections update and expectations for the 2021 legislative session and hear from Arizona lawmakers. Listen to Senate President Karen Fann, Senate Majority Leader Rick Gray, Senator Sean Bowie, Representatives Ben Toma, Alma Hernandez and Jennifer Pawlik discuss their policy priorities and have the option to join in the Q & A. Registration coming soon.

New Interim Rule for PPP Loans Under $50,000

This month, the Small Business Administration provided guidance with a new interim rule. Under the new rule, borrowers who received $50,000 or less are exempt from reductions in forgiveness based on the reduction of full-time equivalent employees and reductions in employee salaries.

Arizona Legislature Announces Ad Hoc Committee on Emergency Powers

Earlier this month, Senate President Karen Fann (R – Prescott) and Speaker of the House Rusty Bowers (R – Mesa) announced the formation of an ad hoc committee on Legislative Oversight of Emergency Executive Powers. In a press release, the president and speaker said the committee will review the origination of statute granting emergency powers and will determine potential legislative recommendations. The committee will be co-chaired by Senator Michelle Ugenti-Rita (R – Scottsdale) and Representative Gail Griffin (R – Hereford).

CPA License Renewal Due Date

As a reminder, Arizona CPA licenses must be renewed on the last business day of the month. For this month, the last business day falls on Friday, October 30. Be sure to renew on time.

For additional information on our advocacy activities, please contact John Baumer.