Ms.
Newman-Limata noted that a working group of the Executive
Committee had identified issues concerning the CPA profession
which are the subject of proposed legislation before the New
York State Senate and Assembly. Ms. Newman-Limata noted the
importance of representing the Society’s official position
on these issues in a consistent and accurate manner when Society
leadership or key staff is asked to comment publicly.
To assist
in this objective the working group drafted an outline, distributed
to Executive Committee members in advance of the meeting,
which identifies each issue and notes the Society’s
proposed position with respect to it. The outline also incorporates
working group recommendations and NYSSCPA testimony on accounting
issues raised by the Enron bankruptcy.
Ms. Newman-Limata
stressed the highly confidential nature of the outline, noting
that it is intended for discussion at the instant meeting
only and should not be shared with anyone outside the Executive
Committee. She noted, however, that the outline would be summarized
and confidentially shared with the Board of Directors and
appropriate constituencies at a later time.
Mr. McCoy
made, and Mr. Langowski seconded, the following resolution:
RESOLVED,
that the outline representing the Society’s position
on issues raised by 1) proposed New York State accountancy
legislation; 2) NYSSCPA testimony regarding Enron’s
bankruptcy; and 3) Executive Committee working group recommendations,
be approved.
A discussion
then ensued with respect to each issue listed in the outline.
Dennis O’Leary was directed to make several minor modifications.
Following the discussion, the resolution was unanimously approved,
subject to incorporating the suggested modifications. Mr.
Bloom and Ms. Lapidus did not participate in the vote.
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