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Committee flags NASBA/AICPA discussion on private equity, independence for future rule work
Summary
Members noted national discussion memos from NASBA and AICPA on firm independence and private-equity structures and agreed to monitor potential policy implications for Oregon rules, with Ray Johnson tracking the independence-focused memo.
Committee members discussed national professional work on firm independence and private-equity ownership structures and said the committee will monitor those developments as they prepare rule language.
Ray Johnson described a NASBA/AICPA discussion memo that "focuses exclusively... on independence issues," noting it is a deep dive into private-equity structures and how to protect attest-side independence while other incentive and integrity questions may also be relevant for future committee work. Martin Piccione and others said the committee should track that external work because it may inform rule options or highlight issues that need Oregon-specific attention.
Members did not adopt any substantive rule changes at the meeting but agreed the pipeline committee and LRC should stay aware of national guidance and potential implications for Oregon's rules.
