Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board backs NASBA white paper on private equity and asks for APS disclosure guidance; declines AICPA technical comment for now
Summary
After an extended discussion of alternative practice structures (APS) and private-equity investment, the board instructed staff to draft a letter to NASBA supporting the white paper, urging required disclosure of APS to the public and recommending peer-review consideration; the board opted not to prepare a detailed response to the AICPA exposure draft at this time.
The Tennessee State Board of Accountancy spent a large portion of its Feb. 3 meeting discussing NASBA’s white paper on private equity investment and alternative practice structures (APS) and an AICPA exposure draft on independence and network definitions.
Executive Director Jen summarized the three NASBA focal points — independence and professional standards, disclosure and public understanding, and regulatory oversight — and explained that the board had added an APS-related question to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
