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Nebraska State Board of Public Accountancy

General Information
  • Formal Name:
    Nebraska State Board of Public Accountancy
  • Contact Person:
    Dan Sweetwood
  • Purpose:
    The examination of prospective candidates with the Uniform CPA Examination; the certification, licensing and registration of individuals who have passed the CPA examination; the establishment of continuing education requirements for CPAs and the monitoring of compliance with those requirements; enforcing the standards of competency and monitoring the national peer review program for CPA firms; and investigating and disciplining licensees who have failed to comply with the Board's requirements in the enforcement of technical standards and ethical provisions of the profession.
  • How Many Affectable:
    8000 individuals 600 CPA firms
  • How Many Served:
    2700 individuals 600 CPA firms
  • Year Created:
    1957
  • Year Active:
    1957
  • Sunset Date:
    none
Authorization
  • Authorization Citation:
    Nebraska State Statute 1-105.01
  • Parent Agency:
    Nebraska State Board of Public Accountancy
Memberships and Meetings
  • Number Of Members:
    8
  • Who Appoints:
    Governor
  • Legislative Approval:
    Approval not required
  • Qualifications Of Members:
    6 members are active Certified Public Accountants (CPAs) 2 from each of the three congressional districts 2 are public members and residents of Nebraska.
  • Per Diem:
    $100
  • Expense Reimbursement:
    yes
  • Term Length:
    4 years terms eligible for 2 terms
  • Terms Rotate or Expire At Once:
    Terms Rotate
Meetings Required In:
  • Required FY 22-23:
    1
  • Held FY 22-23:
    6
  • Required FY 23-24:
    1
  • Held FY 23-24:
    6
  • Required FY 24-25:
    1
  • Held FY 24-25:
    7
Operations
  • Support Staff:
    3
  • Shared or Separate:
    Seperate
  • FY 22-23 Budget:
    436,083
  • FY 23-24 Budget:
    441,412
  • FY 24-25 Budget:
    446,868
  • Other Funding Sources:
    none
  • Spending Authority:
    Nebraska State Statute 1-111
Accomplishments
  • Since July 1, 2021:
    The Public Accountancy Act was amended to allow for another form of ownership of CPA firms known as Employee Stock Ownership Programs (ESOP). The Board listened to CPA firms who were interested in this progressive form of ownership that would allow non CPA owners an enhanced avenue to become owners of the firmthrough an ESOP retirement ownership program. After extensive review by the Board Attorney and partnering with an ESOP expert representing CPA firms, language was drafted to allow for ESOP's without changing original non CPA ownership provisions including that CPAs would remain majority owners of the firm.The Public Accountancy Act was amended to eliminate the requirement that a majority of CPAs own a CPA firm. CPAs must still own a majority of the firm with voting rights. Thischange was based on a CPAs request impacting the CPA firms succession plans and Board staffs attention and questioning the requirement. Later, a Task Force made up ofNebraska CPA Society and Board leadership reviewed the matter with the recommendation the change be made within the Public Accountancy Act. This is another example of the Board being progressive and listening to licensees having difficulties with current regulations and responding when warranted. These continued reviews of Board requirements creates a business friendly environment while maintaining a focused review by a Task Force to ensure harm to the public is limited.Other recent examples include:- Amending the PAA and regulations to allow CPA candidates the ability to sit for the Uniform CPA Examination at 120 hours Bachelor Degree instead of 150 hours of education. This is again allowed for additional flexibility for candidates and aligned Nebraska with its neighbors.