PROCESS FOR CONSIDERING THE ISSUES

Discussions by the AICPA Board of Directors

The AICPA’s Board of Directors considered the two primary issues at its July, September, and December 1998 meetings and most recently at its February 1999 meeting. The purpose of these discussions was to provide the Board with information about the events that had occurred in Florida, the history of the AICPA’s consideration of a fourth level of service, and the various options the Board might recommend to Council to solve the current issues.

The Board dedicated a full day at its December 1998 meeting to these issues and representatives of three state societies expressed their views on these issues. President, George Foundotos, and Executive Director, Louis Grumet, of the New York State Society of CPAs expressed their support for the establishment of a fourth level of service. Executive Director, Don Weldon, and Chair, Bruce Harper, of the Texas Society of CPAs indicated their opposition to the proposal and Executive Director, Lloyd "Buddy" Turman, and Brent Johnson, Director of CPE/Special Projects, of the Florida Institute of CPAs explained the process that led the Florida Board to establish the assembly service. Also, either the chair or staff of the AICPA Ethics and Peer Review Committees attended many of the meetings. The chair of the Accounting and Review Services Committee (ARSC) attended all of the meetings. The Chair of the State Legislation Committee attended the December meeting.