Association of Government Accountants
The
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Association of Government Accountants
The
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May 2004 - Volume XXIV, Issue 20 |
Chapter Meeting Notes For April
Roy Hunter, AGA President, and Penny Gold, Executive Director KY Society of CPAs
By Linda Sagraves, Newsletter Editor
Penny Gold spoke on Kentucky Society of CPAs professional issues.
The topics her presentation covered included: CPA credentials, ethics,
independence rules, audit quality, peer review standards,
The new standard for peer reviews means all firms, regardless of
practice, must answer the question on license application/renewals, even if
they are not issuing reports, audits, reviews, or compilations. Also, firms
that do issue reports must show documentation of enrollment and completion of
their peer review to maintain their license.
Effective January1, 2005, firms must provide reviewer the results
of any investigations (3 years back), evaluations by the report acceptance body
within 120 days of receipt, and if a firm fails to correct “significant
deficiencies: after “consecutive corrective actions” within one peer review,
the firm may be deemed uncooperative.
The final paper CPA exam was held November 5-7, 2003. There are
four computer based exam sections: Auditing (4.5 hours and $134.50), Financial
Accounting & Reporting (4 hours and $126), Regulation (3 hours and $109),
and Business Environment Concepts (2.5 hours and $100.50). There is also a $30
application fee.
Candidates can sit for any section in a testing window, which is a
three-month period, four times a year. The last month of the testing window is
for grading only. Each section passed starts an 18-month period wherein
remaining sections must be passed. If all four sections are not completed,
passed sections will expire and must be re-taken.
One hour of CPE was awarded to those in attendance.
Chapter Executive Committee Meeting Notes For April
By Phil Nally, Chapter Secretary
The Association of Government
Accountants, Central Kentucky Chapter, held its monthly Chapter Executive
Committee meeting at China Wok on April 7, 2004, with eight members in
attendance: Mary Hudson, Roy Hunter, Phil Nally, Linda Sagraves, Amy Small,
Cindy Upton, Rick Waddle, and Lee Ann Watters.
Lee Ann Watters announced that the annual
Awards Banquet will be at 11:30 a.m. on May 6, 2004, at Serafini Resturant in
downtown
Community Service awards will be
presented at the banquet. CEC members
are to send a list of suggested recipients to Roy Hunter, who will distribute
the compiled list for votes by the CEC.
The top four choices will receive $350 donations.
The CEC agreed to honor Pat Bryan and Don
Fields for their years of service to the
A winner was selected for the AGA
scholarship. The CEC agreed to pay one
year of AGA dues for the recipient.
Fundraisers were discussed, enabling the chapter to increase the scholarship
amount.
Amy Small suggested the chapter adopt a
community service theme for each quarter, so that we may become more involved
with projects we support. The CEC
agreed.
The Nominations Committee presented a
list of nominees for fiscal year 2005.
The committee still needs a secretary and historian. The nominees are:
President: Lee Ann Watters
President-elect: Rick Waddle
Programs: Sydney Lawson
Education: Cindy Upton
Treasurer: Phil Nally
Community Service: Amy Small
CGFM Coordinator: Mary
Hudson
Attendance and Membership: Linda Sagraves
Newsletter:
Webmaster: Dan Flaherty
Roy Hunter announced that three or four
new members are needed for the chapter to maximize its points for the
year. Currently, about 25 members are in
suspended status.
Approximately $250 was raised for the
Grant and Franklin County Animal Shelters over the past months.
The next CEC meeting will be held on
Wednesday May 5 at Viva La Pasta.
Speaker For May
Meeting
The Central Kentucky Chapter will hold its Annual Awards Banquet at
Serafini Restaurant on May 6, 2004.
Crit Luallen, Auditor of Public Accounts,
will be the guest speaker.
Of
the
For
the month ended April 30, 2004
By
Rick Waddle, Treasurer
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Central Account |
Education
Account |
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Beginning Bank Balance
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$2,913.71 |
Beginning Bank
Balance |
$3,297.17 |
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Revenue: |
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Revenue: |
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Interest |
1.98 |
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Total Revenue |
1.98 |
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Total Revenue |
0 |
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Expenses: |
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Expenses: |
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Total Expenses |
0 |
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Total Expenses |
0 |
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Ending Bank Balance |
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$2,915.69 |
Ending Bank Balance |
$3,297.17 |
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Office CEC Officers Email Address Phone President Roy Hunter (502) 695-1040 President-Elect Lee Ann Watters (502) 695-1040 Past President Cindy Upton (502) 564-8100 Secretary Phil Nally (502) 564-7750 Treasurer Rick Waddle (502) 564-7750 Program Coordinators Margaret Hurst, Rick Waddle, and Phil Nally (502) 564-8100 (502) 564-7750 (502) 564-7750 Early Careers Director Sharon Parrish (502) 564-6910 Education & Training Coordinator Cindy Upton (502) 564-8100 Newsletter Editor Linda Sagraves (502) 573-0050 Historian Don Fields (502) 564-7334 Community Service Rex Gregory (502) 564-7334 Attendance Coordinator Linda Sagraves (502) 573-0050 Membership Coordinator Amy Small (502) 573-0050 CGFM Coordinator/Public Relations Coordinator Mary Hudson mhudson@auditor.ky.gov (502) 573-0050 Website Development Coordinator Dan Flaherty (502) 573-0282 Central Kentucky AGA Website
Chapter Executive Committee
