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Proposed Legislation: H.R. 4410
At the urging of the AICPA, Congressmen Collin Peterson (D-MN) and Mike Conaway (R-TX) – both CPAs – have introduced H.R. 4410, a bill to require the U.S. Comptroller General to be a CPA. The AICPA has requested the state CPA societies help gather co-sponsors for this bill as it begins its journey through the House of Representatives. NVCPA President Mike Davis and NVCPA Legislation Committee Chair, Nicola Neilon, sent a letter to Nevada Representatives Shelly Berkley, Dean Heller, and Dina Titus, urging their support as co-sponsors.
Background information:
The Comptroller General position has been vacant since March 2008, when David Walker resigned to lead the Peter G. Peterson Foundation. The process for selecting a new Comptroller General is intended to be a bi-partisan process, with ten (10) Members of Congress (5 Senators and 5 Representatives) comprising a panel that agrees upon and recommends at least three (3) names to the President. To date, the panel’s selection process has been opaque, and we have no indication whether any CPA is being considered by the panel in its recommended list for the White House.The past two Comptrollers General (since 1981) have been a CPAs. The skills required to lead the GAO are the same skills and attributes that our members possess: objectivity, integrity, independence, and a commitment to quality. Additionally, the financial and auditing skills CPAs possess are critical components of the job. However, there is currently no legislative requirement that the Comptroller General be a CPA, and we hope to change that, as you’ve read in the press release and related articles. Here’s the link for the December 28, 2009 press release: