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Board ratifies CPA exam results, rules MBA auditing course does not meet audit requirement; flags peer-review noncompliance
Summary
The Board ratified Q3 CPA exam grades and determined that Pittsburg State University's Acctg 815 does not fulfill the audit-course requirement in K.A.R. 74-2-7. Staff reported continuing peer-review noncompliance and the Board asked to include firm-registration information in permit renewals.
The Kansas Board of Accountancy ratified grades for the July–September 2019 CPA exam window at its Oct. 25 meeting and reviewed exam statistics and candidate-care reports for recent quarters. The Board took no further action on statistical reports but formally ratified the exam grades by motion.
Separately, the Board considered whether Pittsburg State University’s MBA course Acctg 815 (Financial Statement Auditing/Seminar in Auditing) satisfied the audit course requirement codified in K.A.R. 74-2-7. After review and discussion, the Board determined the course did not fulfill the audit requirement; Mr. Weaver moved and Mr. Bottenberg seconded the motion, which carried with Ms. Spiegel not voting.
Executive Director Susan L. Somers presented peer-review and continuing professional education audit results. Ms. Somers reported that the number of adjustments and noncompliance remained largely unchanged over recent years. The Board discussed a continuing increase in discipline involving firms that were not registered with the Board and asked staff to include information about firm registration in permit-renewal instructions.
The Board took no final action on the statistical reports beyond ratifying grades and recording the audit findings but recorded a direction to staff to improve registration information provided to permit holders.
