Legislative Action Center
Current Issues
- Proposed Amendments to the UAA Model Rules Granting of Credit Requirement for Sections passed on Uniform CPA Exam
- Comment period open through April 2023 - CPA Pipeline Strategy
Professional Standards
The Professional Standards Committee responds to exposure drafts issued by accounting and auditing standard setting bodies. The Professional Standards Committee invites members to submit comments to the committee in its deliberations on exposure drafts of accounting or reporting standards.
Exposure draft responses
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PCAOB - False or Misleading Statements Concerning PCAOB Registration and Oversight
View proposal | View TXCPA comment letter (April 9, 2024)
The Public Company Accounting Oversight Board (“PCAOB” or “Board”) proposed for public comment a new rule, along with amendments to an existing rule and form, related to its registration program.
Proposed new PCAOB Rule 2400, False or Misleading Statements Concerning PCAOB Registration and Oversight, would prohibit a registered public accounting firm and its associated persons from making false or misleading statements concerning the firm’s PCAOB registration status, including the extent of the PCAOB’s oversight of the firm, when marketing or otherwise holding out the firm to clients, potential clients, or the public.
Proposed new paragraph (h), Constructive Withdrawal Requests, of existing PCAOB Rule 2107, Withdrawal from Registration, would permit the Board, under specified conditions, to treat a firm’s failures both to file annual reports and to pay annual fees for at least two consecutive reporting years as a constructive request for leave to withdraw from registration and to deem the firm’s registration withdrawn.
View proposal | View TXCPA comment letter (April 9, 2024)
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FASB Disaggregation of Income Statement Expenses
FASB Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
View proposal | View TXCPA comment letter (October 17, 2023)
- PCAOB Amendments - Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis
- PCAOB Amendments - Auditing Standards related to a Company’s Noncompliance with Laws and Regulations
- FASB - Stock Compensation (Topic 718)
- AICPA Professional Ethics-Exposure Draft: Revised interpretations related to fees
- FASB Accounting of Crypto Assets
- PCAOB Proposed Auditing Standard – General Responsibilities of the Auditor in Conducting an Audit and Proposed Amendments to PCAOB Standards
- PCAOB No 28 Auditor's Use of Confirmation
- PCAOB - A Firm's System of Quality Control
- FASB Proposed ASU, Leases (Topic 842)- Common Control Arrangements
- FASB - Segment Reporting
- AICPA ASEC- Criteria for Quality Control Materials (QCM) Content
- PCAOB Interim Attestation Standards
- GASB Certain Risk Disclosures
- PCAOB 2022-2026 Strategic Plan
- AICPA PEEC Exposure Draft – Proposed New and Revised Definitions and Interpretations: Compliance Audits
- AICPA ASB Exposure Draft, Proposed Statement on Auditing Standards – Amendment to AU-C Section 935
- FASB ED - Accounting for Government Grants by Business Entities - Potential Incorporation of IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, into GAAP
- AICPA ASB Proposed Statement on Auditing Standards, Amendments to AU-C Sections 725, 730, 930, 935, AND 940