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VSCPA A&A Committee Supports NASBA/AICPA Guidance on UAA

 

The VSCPA’s Accounting & Auditing Advisory Committee (A&A) has commented on the recent exposure draft on the Uniform Accountancy Act (UAA) jointly issued by the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA).

The committee supported the boards’ guidance on the definition of “attest” contained in the UAA, calling it “consistent with the language currently enacted in Virginia law.” The committee wrote:

“We understand that the statutory language varies considerably among the states and, as such, support the NASBA and AICPA’s efforts to establish standards language for states to move towards enacting in their statutes.”

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