Oklahoma Accountancy Board bulletin, 07/2015

              Oklahoma Accountancy Board
In This Issue
It’s Time to Brag!!!..........................................................................................1
Employment Status - Retired...or Not?...................................................2
Board Meeting Held on Local Campus..................................................2
Board Recognizes Employees for Continued Service.......................2
Spring New CPA Recognition Ceremony..............................................3
Congratulations to Randy Ross, CPA!.....................................................4
EBSA Issues Report on EBP Auditors......................................................5
Candidate’s Corner........................................................................................6
July 2015
It’s Time to Brag!!!
BULLETIN
As the regulatory agency for our profession, we are charged not
only with compliance issues of the accounting profession, but
also with administering the annual registration of our Certified
Public Accountants (CPAs) and Public Accountants (PAs). In
that regard, you are the Oklahoma Accountancy Board’s (OAB)
customers! The OAB strives to make it easier for you to register
and maintain compliance with the Board.
One measurement we use to track compliance issues is to
count the number of registrants who, for whatever reason, have
allowed their certificate and permit (if applicable) to lapse or
revoke by failing to register. Prior to 2013, the number of lapsed
registrants exceeded 100 people each month, while the number
of revoked registrants exceeded 25. Therefore, the Accountancy
Board instituted multiple reminders to registrants in order to
reduce lapsed/revoked numbers, including courtesy emails,
courtesy phone calls, and sending the reminder magnets to each
registrant. The results are in. The number of lapsed registrants
has been reduced to less than 30 per month and the number of
revoked registrants has shrunk by two-thirds.
What does this mean for you? When a registrant goes into a
lapsed or revoked status, they incur late fees, reinstatement
fees, and may be required to purchase and take the AICPA
Comprehensive Ethics course. By reducing this number, the
OAB has left nearly $1 million in the pockets of our registrants.
This is real money that our registrants have not had to pay
because they forgot to file or did not file timely. The above figu re
does not count the inconvenience or aggravation factor when
forgetting to complete your registration or completing it late.
The Board believes the reminder efforts have been successful and
the statistics prove it. Your Board is working for you!
Randall A. Ross, CPA
Executive Director