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SROC - accomplishments of the '80s, goals of the '90s.

SROC - Accomplishments of the '80s, Goals of the '90s

NSPA's State Regulation and Oversight Committee is familiarly known by its acronym SROC. The name State Regulation and Oversight Committee was adopted in 1979 because it reflected more accurately the work of the committee, especially in the area of monitoring state boards' regulatory activities. Prior to 1979, the committee was known as the State Legislation Committee. The 1979 committee action replaced the word "Legislation" with the words "Regulation and Oversight." Thus the acronym SROC was born.

SROC is a standing committee of the National Society whose primary responsibility is to monitor legislation and regulations being considered by the various state legislatures and state accountancy boards. NSPA's professional staff working with the affiliated state organizations is able to prevent the enactment of adverse legislation or favorably amend legislation and regulations that otherwise would be detrimental to the independent practicing accountant.

SROC is also instrumental in suggesting and implementing programs and policies that assist affiliated state organizations to maintain or expand the practice privileges they currently have. Examples are the implementation of the NSPA National Legislative Policy adopted by the National Council of Delegates at NSPA's 41st Annual Convention in 1986; the adoption of NSPA's Model Accountancy Law (MAL) by the Board of Governors in 1987; the implementation of NSPA's Policy Statement on Compilation and Review of Financial Statements and Issuance of Reports Thereon, which was adopted at NSPA's 37th Annual Convention in 1982; and the ratification of NSPA's Policy Statement on the Use of the Words Accountant and Accounting and the Designation of Accreditation and Affiliation at the 45th Annual Convention in 1990.

SROC is responsible for publication of the State Regulatory Alert, a monthly publication for officers of the affiliated state organizations, public accountants who are members of their state boards or state legislatures, lobbyists and attorneys for the affiliated state organizations, and for NSPA committee chairmen, state directors and other NSPA officials. Each month, the NSPA staff mails out 600 copies of State Regulatory Alert to keep its readers informed on accounting laws and regulations under consideration or in effect by the various states.

SROC has other responsibilities also. Under its direction the NSPA Synopsis of State Laws Regulating the Public Practice of Accountancy is updated periodically and provided to affiliated state organization officials. At the direction and recommendation of SROC, NSPA's professional staff prepares position papers, analyses of laws and regulations and other legal research materials required to keep the NSPA membership updated on what is taking place and, more importantly, how it affects the independent accountant.

With the foregoing overview of SROC's functions and responsibilities, what are some of SROC's other accomplishments during the decade of the 1980s? Here is a summary of those accomplishments: 1. In the decade 1980-1989,

NSPA allocated (through

SROC action) $450,000 to

22 affiliated state organizations

to assist in litigation

and legislative efforts. Of

the $450,000, $142,000 was

authorized by the Board of

Governors (upon SROC's

recommendation) from the

Society's Restricted Legal

Reserve Fund, which was

established by the Board of

Governors in 1984 at SROC's

recommendation. 2. NSPA distributed almost

$100,000 to the various affiliated

state organizations as

financial assistance for monitoring

their state accountancy

boards from 1983 through

1989. SROC formulated and

recommended the program of

fiscal assistance to affiliated

state organizations monitoring

their state accountancy

boards in 1983. The program

is a permanent NSPA

financial assistance program. 3. As mentioned previously,

SROC formulated the 1986

NSPA National Legislative

Policy and the Model Accountancy

Law based on the Legislative

Policy. The Model

Accountancy Law was over

two years in the drafting stages

by a special SROC subcommittee.

SROC held 10 hearings

(one in each NSPA district

except Hawaii) after the

release of the MAL exposure

draft to the affiliated state

organizations. 4. SROC is an active participant

with NSPA's National

Affairs Committee in the

annual National Issues Conference,

securing speakers and

recommending conference

topics on issues of concern to

affiliated state organizations.

What Are SROC's

Objectives for the 1990s?

1. To maintain and enhance the

ability and the scope of practice

of the non-certified independent

practicing accountant,

whether licensed or unlicensed. 2. To introduce the NSPA Model

Accountancy Law in jurisdictions

where the scope of practice

of unlicensed accountants

is restricted by law or

regulations, and to update the

MAL whenever required. 3. To assist by technical and/or

financial means the efforts by

affiliated state organizations

to use titles descriptive of

their permissible functions,

thus continuing to implement

NSPA policy. 4. To continue to administer the

Legal and Legislative Aid Fund

provided by the Board of

Governors in the annual NSPA

budget and thus commit financial

assistance to affiliated

state organizations to enable

them to carry on defensive

actions against adverse regulations

or legislation imposed

on their members. 5. To study the restructuring of

the public practice of accountancy

as reflected in legislation

recently adopted by state

legislatures and to make recommendations

on those

changes to the NSPA Board

of Governors insofar as those

changes affect the practice of

NSPA members. 6. To identify problem areas in

legislation, regulations or

judicial decisions that affect

the independent practicing

accountant and to make recommendations

to the affiliated

state organizations or to

the NSPA Board of Governors

regarding a resolution

compatible with NSPA's

policies and guidelines. 7. To continue the successful

Legislative Strategy Conferences

first held in 1990 for

the benefit and guidance of

the legislative chairmen and

other officers of affiliated state

organizations. 8. To undertake such additional

assignments as may be conferred

upon the committee

by the NSPA officers or Board

of Governors.

The State Regulation and Oversight Committee is one of NSPA's most active and hard working committees. Its members devote many hours of practice time, and for their efforts they deserve the appreciation of the membership.
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Title Annotation:State Regulation and Oversight Committee
Author:Sager, William H.
Publication:The National Public Accountant
Article Type:Column
Date:Dec 1, 1990
Words:971
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