AGENDA

South Dakota Board of Accountancy

Meeting in Pierre at Law Enforcement Center

June 29, 2006

A=Action

D=Discussion

I=Information                                                                                     Page #’s

D-Welcome New Board Member…………………………………………………………1

A-Approval of Minutes of Meeting June 29, 2006 ……………………………………3-5 

A-Approval of Certificates and Firm Permits…………………………………………7-8

A-Financial Statements through May 31, 2006….……………………………………9-19

A-2007 Budget Proposal……………………………………………………………21-22

A-CBT 2005 Report From Exam Review …………………………………………23-36

A-Report on CBT Identity Management……………………………………………37-39

A-Travel Approval…………………………………………………………………40-42

I-National/S. Dak. CBT Statistics 2004-2005……………………………………………43

I-Report to Board on Top Aggregate Score Criteria…………………….………………44

A-Report to Board on Candidate Educational Requirements………………………45-56

A-Report to Board on Licensing Issue……………………………………………..57-59

I-Report to Board on Compliance with PCAOB Agreement………………………61-62

D-Personnel Issues………………………………………………………………………D

NASBA Issues    

I-Open Session of AICPA Peer Review Board Meeting……………………………63-64

I-New Board of Examiners Structure Task Force……………………………………65-71

I-Vice Chair Nominated for 2006-2007………………………….…………………….73

I-Highlights of Recent Regulatory Developments 2005-2006………………………74-92

I-Executive Summary of April 2006 Regional Director’s Focus Question Responses…93

I-NASBA Regional Director’s Report (Feb-Apr 2005)……………………………95-121

I-NASBA Regional Director’s Report (Jan-Apr 2006)……………………………122-140

PCAOB

I-Confronting the Challenges of Change in the World of Financial Reporting…142-151

I-SEC Approves PCAOB Rules on Auditor Ethics, Independence and Tax Services…152-153

A- D-Investigative Matters………………………………………………………Spt. Pkt.

PEER REVIEW

Equivalent Reviews for Board Approval…………………………………………Spt. Pkt.

Follow Up Reviews……………………………………………………………….Spt. Pkt.

FUTURE MEETING DATES

Notice is further given to individuals with disabilities that this hearing is being held in a physically accessible place.  Please notify the Board of Accountancy at least 48 hours before the public hearing if you have special needs for which special arrangements must be made.  The telephone number for making special arrangements is 605-367-5770.