BOARD APPROVED RULE CHANGES - ASBPA
FALL 2020VOLUME 02 - 2020BOARD APPROVED RULE CHANGESThe Board recently received legislative approval for rule changes, and they are now in effect. The substantive changes include: CPA Exam – moves from limiting candidates to onesection per testing window to unlimited testing perwindow, as long as the score from the previous exam hasbeen received for that particular section. CPE Nano Learning – we now allow up to 4 hours ofnano learning CPE credit (nano learning is CPE taken inten- minute increments). CPE Content Requirement – we have reduced therequirement that 50% of CPE (20 hours per year) be metthrough courses in Accounting & Auditing, Tax, or Ethics to40% for those working in public accounting and to 20%for those who do not work in public accounting. CPE Group Study Requirement – we have reducedthe group study requirement from 40% to 20% (16 hoursto 8 hours per year). (this rule was relaxed to zero hoursBoard RemovesGroup Study Requirementfor 2020 Due to Covid-19After receiving several requests from licensees,the Board voted on August 14th to remove the8-hour group study requirement for 2020, in orderto give CPAs more flexibility in meeting their CPErequirements for this year.for 2020 due to Covid 19) Quality Review – we updated rules surroundingQuality review for impact of the Peer Review requirementthat became effective January 1, 2019. Prelicensure Criminal Background Petition –created a process for individuals to petition the Board fora determination as to whether their criminal record woulddisqualify them from licensure or if they would be eligibleto obtain a waiver from the Board.All of the rule changes are available on our website osed-rulechanges/.IN THIS ISSUEBoard Approves Rule Changes. 1Board Removes Group Study Requirement 1Board Update . 2We Have Moved!. 2CPA Exam Year-Round Testing. 2CPA Examination Overview. 3Board Disciplinary Cases . 4New Individual CPA Licenses. 5New Firms. 5Successful Candidates. 5Inactive. 5Surrenders. 6Retired. 6CPA Evolution Initiative. 6State Board of Accountancy Board Members 7State Board of Accountancy Staff 7
BOARD UPDATEChristina Ellis appointed to Board by Governor AsaHutchinsonCHRISTINAELLISChristina Ellis of Hot Springs, AR was appointed to the ArkansasState Board of Public Accountancy on July 31, 2020. Christina isa partner with JWCK, LTD in Hot Springs. She earned a Bachelor’sdegree in accounting and a MBA from Henderson State University.Sherry Chesser completes termREMAINING 2020 BOARDMEETING SCHEDULESeptember 25thNovember 13thMeetings of the Board are open to thepublic, except some portions which maybe closed under state law.SHERRYCHESSERThe Arkansas State Board of Public Accountancy thanks SherryChesser for her five years of service on the Board. During her tenureshe served as board president and Compliance Committee chair.She was also active at the national level, serving on the ComplianceAssurance Committee with NASBA. Currently she is serving on theAuditing Standards Board. Sherry is a partner with Landmark CPAsin Little Rock.WE HAVE MOVED!The Board moved office locations in July. We are now under the Department ofLabor and Licensing, and our new address is 900 W. Capitol, Suite 400 LittleRock, AR 72201. Our email addresses and phone numbers did not change.CPA EXAM YEAR-ROUND TESTINGNew Model Replaces Quarterly Testing WindowsASBPA OFFICE CLOSEDIn accordance with the schedule adoptedby the State of Arkansas, the Board officewill be closed on the following dates:February 17May 25July 3Presidents DayMemorial DayIndependence DayObservanceA MEMBER OFThe National Association of State Boards of Accountancy (NASBA), AmericanInstitute of CPAs (AICPA) and Prometric recently launched year-round testing ofthe Uniform CPA Examination (Exam). The new continuous testing model providesgreater candidate flexibility and convenience, with more than 75 additionaltesting dates available throughout the year. The new model replaces quarterlytesting windows that allowed candidates to sit for the Exam during specified dates.According to Prometric, 3,465 test events have already been scheduled betweenSeptember 11-30, 2020, a previous blackout period, signifying increasedflexibility and frequency in candidate testing.The 55 U.S. Boards of Accountancy have endorsed the move to a ContinuousTesting model as a means to support Exam candidates on their journey to CPAlicensure.Under the continuous testing model, scores will be released on a rolling basis.Candidates wishing to learn more about continuous testing, as well as how thescore release process will work, should visit the AICPA’s CPA Exam Score Releasepage, as well as follow NASBA via social media for updates.2
CPA EXAMINATION OVERVIEWArkansas StatisticsCPA Exam Summary: 2020 Q1SectionsAvg. Score%PassFirst C4575.4FAR62REG41Overall StatisticsCPA Exam Summary: 2020 Q1SectionsAvg. Score%PassFirst 9.146.4%73.163.4%REG8,59972.155.4%Jurisdiction Ranking for Arkansas39TH CANDIDATES39TH SECTIONSArkansas StatisticsCPA Exam Summary: 2020 Q2SectionsAvg. Score%PassFirst 2581.2FAR33REG1933RD AVERAGE SCORE25TH PASS RATEOverall StatisticsCPA Exam Summary: 2020 Q2SectionsAvg. Score%PassFirst 62.9%78.173.7%REG5,28178.974.9%Jurisdiction Ranking for Arkansas37THCANDIDATES36TH SECTIONS45TH PASS RATE343RD AVERAGE SCORE
APRIL BOARD DISCIPLINARY CASESThe following cases were closed at the April 20,2020 Board Meeting:Respondent: Mary GloverLicense #: 4110Violation: Failure to respond timely to a CPE audit; failureto obtain 1 hour of Ethics CPEAction: 375 penaltyRespondent: Bryant BarnesLicense #: 9351Violation: Failure to respond timely to boardcorrespondence; failure to obtain required CPE hoursAction: 625 penaltyRespondent: Michael WilliamsLicense #: 7448Violation: Failure to respond timely to a CPE audit; failureto obtain required CPE hoursAction: 600 penaltyRespondent: Jack BottomsLicense #: 1530Violation: Failure to obtain required CPE hoursAction: 125 penaltyRespondent: Naomi SmithLicense #: 0131Violation: Failure to obtain required CPE hoursAction: 125 penaltyRespondent: Radu BadalacLicense #: 9664Violation: Failure to obtain required CPE hoursAction: 130 penaltyRespondent: Angela GravesLicense #: 6990Violation: Failure to obtain required CPE hoursAction: 550 penaltyRespondent: Tammy WaymireLicense #: 6348Violation: Failure to obtain required CPE hoursAction: 350 penaltyRespondent: Harold VinsonLicense #: 2981Violation: False reporting of CPE hours; failure to obtainrequired CPE hoursAction: 2,480 penaltyRespondent: Sheila WilliamsLicense #: 7529Violation: Failure to obtain required CPE hoursAction: 350 penaltyRespondent: Kenny SextonLicense #: 2295Violation: Providing tax services on an inactive licenseAction: Licensee surrendered their license in lieu ofdisciplinary actionREVOCATIONSThe following licences were revoked via a hearingheld on June 12, 2020 for failure to renew for 2020:Brian BreechThomas FoxRoy NicholsOrin WilsonSylvia BlatyLela DavidsonOlivia RowMargaret SennJane TuckerMountain Home CPAThe Rogers Accounting FirmAUGUST BOARD DISCIPLINARY CASESThe following cases were closed at the August 14,2020 Board Meeting:Respondent: Osborn & Osborn, CPAs PLLCLicense #: 123LCViolation: Firm failed to properly supervise its staff and anemployee embezzled over 9,000,000 from a client.Action: 10,000 fine and firm must go under pre-issuancereview for all attest reports for two years4Little Rock, ARNorth Little Rock, ARGamaliel, ARSearcy, ARRussellville, ARRogers, ARStamps, ARWest Memphis, ARLittle Rock, ARMountain Home, ARLittle Rock, AR
SUCCESSFUL CANDIDATESThe following candidates passed the final section of the CPA exam from February 1 through July 31, 2020:Ethny AshcraftPine Bluff, ARAngela BenefielTexarkana, ARLoren BlakleyLittle Rock, ARDaniela BuhayevskaLittle Rock, ARJennifer BurksBenton, ARJordan CarlisleCabot, ARKelsey CarterConway, ARMallory CoffeySiloam Springs, ARElizabeth CogbillStar City, ARMelissa DanielCamden, ARAndrea EspinozaHope, ARJohn GoinsTexarkana, ARBryan GoldenLittle Rock, ARAlexandra HolderSour Lake, TXDonnita JefferyPine Bluff, AREmily JettAlexander, ARJean Piere L. Chavez North Little Rock, ARMichael MeredithAugusta, ARJason MoseleyMaumelle, ARChase NethertonConway, ARMelissa NobleRudy, ARNikki NottinghamBono, ARChristopher PhillipsConway, ARRachael ReynoldsCabot, ARAlexander SegallaThomas SimmonsBrooklyn TaylorLuke TerrellVinicius ViannaRiley WeaverEric WilliamsCarley WillmonMeghan ZanoneRichard ZimmermanLittle Rock, ARHot Springs, ARSpringdale, ARFayetteville, ARFayetteville, ARDallas, TXFayetteville, ARBenton, ARFayetteville, ARFayetteville, ARNEW INDIVIDUAL CPA LICENSESThe following individual CPA licenses were approved from February 1 through July 31, 2020:Chan Lam LeongFrisco, TXJacob Robert HoldenRockwall, TXDylan Patrick SuttonJonesboro, ARBeverly Hughes Sanford Arkadelphia, ARRonald TranLittle Rock, ARJuan YanSpringdale, ARAleesha WalkerConway , ARSanket MithaSan Antonio, TXJulian RotramelFayetteville, ARSeth KendrickDallas, TXZachary SiebenmannLittle Rock, ARBrandon AbbottBroken Arrow, OKTeresa Jean CarrBono, ARJustin Leonard ParkerBrittany Nicole WilliamsDavid Michael PearsonJordan CarlisleClaire Marie NorthamMegan Alyce BiarMegan Jean CookJonathan PhillipsMary Abigail PerdueValerie Kae ThompsonAmy HallTim AlthageRyan CrewsTexarkana, TXMalvern, ARLowell, ARCabot, ARTexarkana, TXFayetteville, ARMaumelle, ARFayetteville, ARConway , ARHarrison, ARStreetboro, OHBentonville, ARSearcy, ARAndrea G. Tabora TorresJames Logan ColeBradley Hampton HallOddey John PoseyJennifer BurksKyle Vincent CowlesSean Edward DoolinDaniela BuhayevskaMei-Mei BrownElizabeth CogbillRachael Grace ReynoldsLittle Rock, ARHot Springs, ARHot Springs, ARLittle Rock, ARBenton , ARCabot, ARAlexander, ARLittle Rock, ARLittle Rock, ARStar City, ARCabot, ARNEW FIRMSThe following firm CPA licenses were approved from February 1 through July 31, 2020:Potts & Company CPAs, LLCGarland & Greenwood CPAs and Advisors PLLCBenjamin L Cox, CPA, PAAmelia Boney CorporationJohn S. Brock, CPA, PAColette B Vaughn CPAs PLLCFort Smith, ARLittle Rock, AREl Dorado, ARDumas, ARConway, ARJonesboro, ARYeo & Yeo CPAs and Business ConsultantsADAMSBROWN LLCCHD Accounting, LLCCulver PLLCAndrea K Coffman CPA PAAudit Solutions, LLCSaginaw, MIGreat Bend, KSJonesboro, AROakland, TNRussellville, ARChesterfield, MOINACTIVEThe following licensees converted from active to inactive status from February 1 through July 31, 2020:Glenda HagoodThomas DuncanGregory CrawfordLittle Rock, ARWinter Garden, FLBenton , ARCraig ShellyMitchell Bell5Bentonville, ARLa Grange, IL
NASBA MAKES CRUCIAL DECISION ON CPA EVOLUTIONUnanimous Vote of Support for the Advancement of the CPA Evolution InitiativeThe National Association of State Boards of Accountancy(NASBA) Board of Directors has announced its unanimousvote of support for the advancement of the CPA Evolutioninitiative to design and implement a new approach to CPAlicensure. CPA Evolution is a joint initiative between NASBAand the American Institute of CPAs (AICPA). In recent years,NASBA and the AICPA have monitored trends impactingthe skillsets required of newly licensed CPAs and believethe CPA Evolution initiative will aid in positioning the CPAlicense for the future as well as continue to protect the publicinterest.Laurie Tish, CPA. “CPAs entering the profession must beprepared with the skills and knowledge necessary to servein this trusted role. The new licensure model will be moreattractive to the best and the brightest, which will enhancethe CPA pipeline.”The CPA Evolution initiative aims to ensure newly licensedCPAs have the required knowledge and skills best suitedto serve clients, businesses and the public-at-large. As theprofession and the world navigate a new normal, educationrequired of CPA candidates, as well as the CPA Exam, itself,will adapt to address the emerging skills and competenciesnecessary in today’s marketplace. The new core plusdiscipline model will allow candidates to show enhancedcompetency in a chosen discipline within the profession.“The CPA profession is too important to our society andto our economy to not be 100% prepared and ready torespond to changing demands,” shared NASBA ChairRETIREDThe following licenses were approved for retired status from February 1 through July 31, 2020:Vickie BeckerRoland EleyPat GillespieWilliams GrantGordon GuyJesse HallJerry HarrisJohnny HudsonSioux Falls, SDAlexander, ARRaleigh, NCHarrison, ARArlington , TXMonroe, LAPlano, TXLittle Rock, ARIsaac JenkinsPhyllis KempTommie KiferLisa LoveSuan McLuenPaulette MooreDavid ScottCaryl SharpLittle Rock, ARLittle Rock, ARMonette, ARLittle Rock, ARBiloxi, MSAlma, ARColleyville, TXTucson, AZTonie SheildsRichard StoddardRena TaylorCynthia TurleyDavid WaldropDonna WeaverNorth Little Rock, ARBranson, MOPine Bluff, ARRogers, ARLittle Rock, ARBuford, GASURRENDERSThe following licenses were surrendered from February 1 through July 31, 2020:James Birch, C.P.A., P.A.James BirchMichael BurroughsCharles ConineEva DuckworthDenis DuncanFranklin EkenseairF. Keith Ekenseair, P.A.Gardner, Langston & BryanSue GarrisonBarbara GilbertPaul GlasscockJames GunnLarry HarveyKevin KelbelTammy LiskoTammy S. Lisko, P.A.Laura MartinEric McGrawDawna McKenzieMichael MoodyPenelope OsburnJ. Timothy Fulmer, CPA, PATed Duncan CPA PAAstrid PottsHugh RinerBen SayleAmanda ServedioThomas SimsDeborah J. Smith, CPA, PADeborah SmtihCharles SullivanQingyun TanKimberly ThompsonLinda WrightLittle Rock, ARLittle Rock, ARJonesboro, ARLittle Rock, ARJonesboro, ARAtlanta, GASt Pete Beach, FLSt Pete Beach, FLMonroe, LAJonesboro, ARHope, ARVernon, CTStillwater, OKHot Springs, ARMount Horeb, WISt. Pete Beach, FLSt. Pete Beach, FLBlytheville, AR6Fayetteville, ARFort Smith, ARFort Smith, ARPyatt, ARRogers, ARMaumelle, ARHouston, TXMagnolia, ARGreenville, MSQueens, NYKirkwood, MOWalnut Ridge, ARWalnut Ridge, ARVan Buren, ARRichardson, TXBrentwood, TNRogers, AR
STATE BOARD OF ACCOUNTANCY BOARD MEMBERSDAVID VADEN, CPAPRESIDENTCAVE SPRINGSTERM: 2016 — 2021SHANE WARRICKMAGNOLIATERM: 2019 — 2024DEANA INFIELD, CPASECRETARYFORT SMITHTERM: 2017 — 2022RICHARD L. BELL, JD, CPA, CVATREASURERNORTH LITTLE ROCKTERM: 2018 — 2023KEVIN CANFIELDSPRINGDALEPUBLIC REPRESENTATIVETERM: 2018 — 2023CHRISTINA ELLISSPRINGDALETERM: 2020 — 2025DENNY WOODS, JDFAYETTEVILLECONSUMER ADVOCATETERM: 2017 — 2022STATE BOARD OF ACCOUNTANCY STAFFJIMMY CORLEY, CPAEXECUTIVE DIRECTOR(501) 682-5533James.Corley@arkansas.govDALE EDGE, CPAINVESTIGATOR(501) 682-5525Dale.Edge@arkansas.govTIM MONTGOMERY, CPA BOARDINVESTIGATOR(501) 683-1984Tim.Montgomery@arkansas.govTRISTA BROWNINGFISCAL OFFICER(501) 682-5534Tristakaye.Saylors@arkansas.govMELISSA HAMRICEXAM SPECIALIST(501) 682-2574Melissa.A.Hamric@arkansas.govAPRIL MURPHYLICENSING SPECIALIST(501) 682-5532April.M.Murphy@arkansas.govALAN FORTNEYINFORMATIONTECHNOLOGY MANAGER(501) 682-2512Alan.Fortney@arkansas.govMARY ROBERTSCREDENTIALING ASSISTANT(501) 682-1520Mary.Roberts@arkansas.gov7
Arkansas State Board of Public Accountancy101 East Capitol, Suite 450Little Rock, AR 72201Moving? Please Notify the Board Office of Your New AddressThe rules and regulations require all licensees to notify the ASBPA of all such changesby sending a change of address form to the office. Please include a street address tofacilitate any express mail deliveries. Click here to change your address, or completeand mail in the form below:Name:Employer: License#:Old Address: New Address:Phone: Email:Signature: Date:Please Mail to: Arkansas State Board of Public Accountancy101 East Capitol, Suite 450, Little Rock, AR 722018
CPE Nano Learning – we now allow up to 4 hours of nano learning CPE credit (nano learning is CPE taken in ten- minute increments). CPE Content Requirement – we have reduced the requirement that 50% of CPE (20 hours per year) be met through courses in Accounting & Auditing, Tax, or Ethics to
RULE BOOK UPDATED MAY 2019-1 - TABLE OF CONTENTS PAGE RULE 1 Name 2 RULE 2 Objectives 3 RULE 3 Membership 4 RULE 4 Members Entitlements and Obligations 5 RULE 5 Structure 8 RULE 6 Branches 9 RULE 7 Regional Structure 15 RULE 8 National Organisation 19 RULE 9 Officers 26 .
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The Philosophical Works of Descartes ix Rule XIII. 138 Rule XIV. 153 Rule XV. 181 Rule XVI. 185 Rule XVII. 195 Rule XVIII. 200 Rule XIX. 213 Rule XX. 214 Rule XXI. 215 Discourse on Method 216 Prefatory Note to the Method. 217 Discourse on the Method of Rightly Conducting the Reason and Seeki
Rule 2. Playing Terms and Definitions Rule 3. Substituting - Coaching - Bench and Field Conduct - Charged Conferences Rule 4. Starting and Ending Game Rule 5. Dead Ball - Suspension of Play Dead Ball Tables Rule 6. Pitching Rule 7. Batting Rule 8. Baserunning Baserunning Awards Table Rule 9. Scoring - Record Keeping Rule 10. Umpiring
Rule 14d-4(d) Rule 14d-10(a)(2) Rule 14d-11 Rule 14d-11(c) and (e) Rule 14e-1(c) Rule 14e-5 No Action, Interpretive and/or Exemptive Letter: AstraZeneca PLC Response of the Office of Mergers and Acquisitions Division of Corporation Finance May 23, 2006 Thomas B. Shropshire, Jr., Esq. Linklaters One Silk Street London EC2Y 8HQ England
Rule G-21 Advertising Rule G-43 Broker's Brokers Rule G-22 Control Relationships Rule G-44 Supervisory and Compliance Obligations of Municipal Advisors Rule G-23 Activities of Financial Advisors Rule G-45 Reporting of Information on Municipal Fund Securities Rule G-24 Use of Ownership Information Obtained in Fiduciary or Agency Capacity
Rule 1.1 Authority; Purpose Rule 1.2 Definitions Rule 1.3 Authority to issue license Rule 1.4 Term of the license Rule 1.5 Exemptions – Authorized under other laws Rule 1.6 Penalty for false response or document Rule 1.7 Exemptions – Military and spouse CHAPTER 2. Application Rule 2.0 Application desi
INSTRUMENTATION ENGINEERING For mechanical, instrumentation, electrical, and concrete data, a simple trend line produced a reasonable average. Correlating hours to the total mechanical equipment count did not produce a convergence (table 2, Mechanical 1). Mechanical 2 shows improvement to the correlation when the mechanical account was correlated separately to various equipment classes, pumps .
