Congratulations to MACPA members Mary Treder-Lang, CPA (Grosse Pointe) and Tom McMillin, CPA (Rochester Hills) on their successful primary campaigns for the Michigan House of Representatives. Mary and Tom will be on the November ballot in House Districts 1 and 45, respectively. It has been several years since the MACPA has had one of their own in the Michigan Legislature. Members who would like to support either candidate should contact the Association’s Government Relations Department to learn more.

On the national CPA license mobility front, state societies and boards of accountancy continue to make significant headway in pursuing changes to licensing regulations across the county. To date, 27 states, including Michigan, have been successful in enacting mobility legislation bringing the national total to 28. Five additional states are pursuing passage of legislation this year.

The Michigan Legislature resumed full session and committee work this week. The MACPA continues to provide feedback both to members of the legislature, as well as the Department of Treasury as they implement the new Michigan Business Tax (MBT). While additional major changes to the structure of the tax aren’t expected before the first year is complete, more than 100 individual pieces of legislation are currently in place seeking to amend the Act in one way or another.

Public release of MBT forms and instructions is anticipated in early-November 2008.

Finally, as the International Accounting Standards Committee (IASC) works toward convergence of current U.S. accounting and auditing standards and the implementation of the anticipated International Financial Reporting Standards (IFRS), MACPA has taken some of the initial steps necessary to determine how the Administrative Rules for the accounting profession here in Michigan will need to be amended to comply with new reporting standards. The members of the MACPA Legislative Advisory Group, Accounting and Auditing Standards Task Force and Government Relations staff will be integral in working with office-holders and members of the State Board of Accountancy, ensuring a smooth transition over the next few years.

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