Nebraska Board of Public Accountancy
Updated as of June 19, 2014
Licensing Actions | Proposed Rule Changing |
Continuing Education | Enforcement Actions |
General Information | CPA Exam Information |Quality Enhancement Program
Proposed Rule Changing
CPA Exam Information
Quality Enhancement Program
- 2007 Most Common Problems on Reports
- New QEP Policies: The Board approved these policies at the July 27 and 28, 2004 Board Meeting.
- The Committee determined a policy to return a firm to licensed status that did not submit reports to the Quality Enhancement Program.
The Committee established a deadline to submit a request for an exemption that would be earlier than the deadline to submit reports. The reason for the earlier deadline is that in the case of denial of the request for exemption, the firm would have adequate time to submit reports by the May 15 deadline. The Request for the Exemption deadline is May 1. The deadline for submission of all reports would remain May 15.
- Sign a Stipulation and Consent Order with a $250 administrative fee;
- Submit the required reports;
- Pay a $100 administrative fee for each report submitted for review.
Be advised of the five most common deficiencies on submitted reports for 2004:
- Problems with report language including country of origin, OCBOA and statement of cash flows.
- Inappropriate disclosure of compensated absences.
- Disclosure of long-term debt including current maturities and interest expense.
- SOP 01-6 disclosures relating to account receivables and uncollectible accounts.
- Disclosure on management use of estimates.