The Arkansas State Board of Public Accountancy (ASBPA) is a regulatory body that oversees the public accounting profession in Arkansas. It was established in 1915, and its mission is to ensure that the individuals and firms who are licensed to practice public accounting in the state have the necessary skills, education, and competencies required to protect the public interest. The ASBPA plays a critical role in regulating the accounting profession in Arkansas. The board provides support and guidance to licensed CPAs to help them maintain high standards of professional conduct and competence. Through its work, the ASBPA helps to promote public confidence in the accounting profession and contributes to the overall health and success of the Arkansas economy.
The ASBPA is composed of seven members who are appointed by the governor and approved by the state senate. Five members of the board must be certified public accountants (CPAs). The other two members must be public members who have no connection to the accounting profession.
ASBPA Board Members (From Left to Right):
Shane Warrick, Deana Infield, Denny Woods, Richard Bell, and Christina Ellis.
The board’s main function is to issue licenses to qualified individuals and firms who wish to practice public accounting in Arkansas. Individuals must meet certain education, experience, and exam requirements to be eligible for licensure. Specifically, they must have a bachelor’s degree or higher from an accredited institution, have completed 150 credit hours of education, including a minimum of 30 semester hours in accounting and 30 semester hours in business courses, and have passed the Uniform CPA Exam.
In addition to licensing, the ASBPA also has the authority to investigate complaints and take disciplinary action against licensees who violate the state’s laws and regulations. The board has the power to revoke or suspend licenses, issue fines, and require licensees to complete additional education or training.
The ASBPA also has a responsibility to ensure that CPAs in Arkansas are meeting their continuing education requirements. Licensed CPAs are required to complete a minimum of 40 hours of continuing education every year, with a minimum of 4 hours in ethics every 3 years.
The ASBPA is committed to promoting public confidence in the accounting profession by maintaining high professional conduct and competence standards. The board provides resources and support to licensed CPAs in Arkansas, including information on regulatory changes and guidance on ethical dilemmas.
In addition to its regulatory responsibilities, the ASBPA promotes the accounting profession in Arkansas. The board works to raise awareness of the importance of the accounting profession to the state’s economy and to encourage students to pursue careers in accounting.
Accounting Career Awareness
Jimmy Corley has served as Executive Director for ASBPA for over twelve years.
Executive Director Jimmy Corley
“Transformation has certainly changed how we fit into state government. The accounting industry has changed, and our regulation of CPAs and CPA firms has also changed through legislation and rule changes.” Corley said. “We have less office space than we did before, but we have more access to resources through the Department of Labor and Licensing such as legal, IT, and HR for example.”
Corley manages a talented administrative staff of six people. They are Investigators Dale Edge and Tim Montgomery; CPA Exam Specialist Mary Roberts; Licensing Specialist Kathrine Stone; Continuing Professional Education Specialist Jessy Hamric; and a part-time Fiscal Analyst Trista Browning.
Corley added further, “We are working on joining a new electronic licensing platform, a system which will hopefully make things easier for our licensees to renew their licenses and stay compliant with Board laws and regulations.”
Arkansas Department of Labor and Licensing Secretary Daryl Bassett offered his gratitude, “I want to express my sincere appreciation for the exceptional work of the ASBPA. Your commitment to excellence and willingness to go above and beyond to meet the needs of the public is truly commendable. As Secretary, I want to extend my thanks to your team for their dedication to the people we serve in Arkansas.”
Secretary Bassett added, “I want to take this opportunity to thank Jimmy Corley for his service to the State Board of Public Accountancy as well as the Department of Labor and Licensing and wish him all the best in his future endeavors. He has undoubtedly left a lasting impact on our department, and we are grateful for his time with us. Please join me in wishing Jimmy Corley the best of luck in his new endeavors. We will miss him, but we know that he will continue to achieve great things in the future.”
For more information on the Arkansas State Board of Public Accountancy, please visit https://www.asbpa.arkansas.gov/.