Video: Organizational Authority and Discipline

In this lesson, Nick Palazzolo, CPA, demystifies the roles and disciplinary powers of various accounting organizations; distinguishing between state boards of accountancy, the AICPA, and state CPA societies. He breaks down the concept of authority in these entities, clarifying which can impose fines, revoke licenses, and what their relationship with CPAs entails. Dive into the differences in disciplinary actions that can be taken by these bodies, and understand the significant responsibilities of state boards and their impact on a CPA's practice. Furthermore, he explains the ongoing commitment to professional standards and education through CPE requirements, giving a comprehensive overview of the regulatory landscape every CPA navigates.