Thoughts on the General Assembly

It's now been two weeks since the Virginia General Assembly convened for the 2013 Session. I'm sure you've heard about the controversy in the Senate earlier this week dealing with redistricting. It's certainly been the reigning news headline for the week and, if upheld, will impact many among our members. If nothing else, it clearly demonstrates how quickly things can change during Session.

There's also been quite a bit of attention on various transportation funding proposals being considered, especially Gov. Bob McDonnell's proposal (HB 2313) which has garnered a lot of support from various groups around the Commonwealth. Another high profile transportation proposal is that of Sen. John Watkins (SB 717).

Since I spend a significant amount of my time at the General Assembly attending the Finance Committee meetings for both chambers, and all the transportation bills involve changes to taxation, I have been able to sit in on a good bit of discussion. I cannot even begin to predict which proposal, if any, will prevail. The only thing I can say at this point is that there are a lot of very different, very strong opinions on the best solution.

The good news for CPAs is that our issues generally tend to be fairly non-controversial. Both bills to conform the Virginia tax code to the Internal Revenue Code for tax year 2012 (HB 2150 and SB 1241) are moving along in their respective chambers. We'll continue to monitor and communicate on the progress of these bills as they move along. Additionally, the Virginia Board of Accountancy's bill (HB 1959) to put in place a statute of limitations for filing complaints against CPAs and CPA firms is also moving along easily, and without opposition.

Continue to stay tuned to the VSCPA's 2013 Session Watch page and watch your inbox for our Session Watch e-newsletters for more detailed information on what we're working on the progress of legislation important to CPAs. As always, please let me know if you see any legislation you think we need to examine more closely, and don't forget to the keep your eyes open for the "Take Action" button on our advocacy communications as an easy way to get involved and have a voice in the process.

Make Your Voice Heard on VBOA Fee Proposal

In a week and a half, the Virginia Board of Accountancy (VBOA) will begin accepting comments during the final comment period for its updated fee proposal. On Oct. 8, the proposal will be published in the Virginia Register of Regulations, and the comment period will run from then until Nov. 7. Click here to learn how you can comment.

The fee package is on schedule to take effect Jan. 1, 2013. Click here for more details on the changes or click here to read an interview with VBOA Executive Director Wade Jewell about the reasoning behind some of the changes.

VSCPA Members Appointed to Virginia Board of Accountancy

Virginia Gov. Bob McDonnell recently appointed two VSCPA members to the Virginia Board of Accountancy (VBOA) — Stephanie Saunders, CPA, a small practitioner from Virginia Beach, and Marc Moyers, CPA, a KPMG partner from Richmond. These appointments are another win for the VBOA, Virginia CPAs and the citizens of the Commonwealth. Stephanie and Marc bring a wealth of experience and service to the profession and the public it serves, and they will bring a fair and open-minded approach to regulating the CPA profession in Virginia.

For many years, the VSCPA has enjoyed a positive, cooperative relationship with the VBOA. While we always recognize the differences in our purposes and roles, we also recognize the need to understand each other, to sit down and discuss issues facing the profession, and to find common initiatives to promote together.

One way we collaborate is through the CPA Inauguration, an event we hold twice a year to recognize and celebrate new CPAs entering the profession. Both organizations understand the importance of reaching out to new CPAs to help them understand the profession they are entering and the rewards and responsibilities the profession will bring.

The VSCPA and the VBOA also work together to communicate important professional information to students and CPAs across the state. We have jointly presented on professional and licensure topics to accounting classes, and we frequently present sessions for CPAs on recent changes and information regarding their license.

Finally, the VSCPA serves as a vehicle for CPAs’ voices to be heard as the VBOA discusses and debates new rules and regulations — members and staff attend all VBOA meetings, and the VBOA is always open to hearing the VSCPA’s thoughts, ideas and viewpoints.

We look forward to continuing a great working relationship with the newest VBOA members, and, as always, we will continue to keep members informed of all activities related to the VBOA and CPA licensure requirements in Virginia.