WSR 00-19-009

PREPROPOSAL STATEMENT OF INQUIRY

BOARD OF ACCOUNTANCY


[ Filed September 6, 2000, 2:59 p.m. ]

Subject of Possible Rule Making: New section to require CPA firms reporting potential audit failures to other regulatory agencies or professional organizations to also report such potential audit failures to the board.

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

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Identify potential substandard work requiring corrective action by the licensee - public protection.

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) 586-0163, fax (360) 664-9190, e-mail danam@cpaboard.wa.gov.

August 23, 2000

Dana M. McInturff, CPA

Executive Director

Washington State Code Reviser's Office