WSR 97-22-078



[Filed November 4, 1997, 3:44 p.m.]

Subject of Possible Rule Making: WAC 4-25-622 (1), (2) Independence.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 18.04.055(2).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The existing rule requires Washington certified public accountants in public practice to be independent in the performance of certain activities including an examination of prospective financial information. Attestation engagements require independence for more than just an examination of prospective financial information. Amendment to the rule will expand the independence requirement to include all attestation services as identified by the board and the accounting profession. Amendment will also eliminate ambiguities between the Washington state regulations and the accounting professions' recognized standards. The goal of the amendment is to: Promote clarity, ensure effective communication, ensure fairness in interpretation and application of the rule, promote efficiencies through minimizing gray areas, and address the need to protect the public through regulation of the practice of public accountancy and enhancing the reliability of information.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: Agency study.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by writing to Dana M. McInturff, Executive Director, Washington State Board of Accountancy, P.O. Box 9131, Olympia, WA 98507-9131, (360) 664-9194, FAX (360) 664-9190, e-mail

October 31, 1997

Dana M. McInturff

Executive Director

Legislature Code Reviser


Washington State Code Reviser's Office