Gaolie Xiong

The committee held a discussion regarding potential modifications to statutes and rules, during which comments were provided by the Minnesota Society of CPAs. Additionally, the committee deliberated on and formulated recommendations concerning proposed statute and rule changes.

The committee convened to receive public commentary regarding recommendations for statute and rule changes, followed by a formal committee discussion to review these proposed modifications.

The Board meeting included reports from the Complaint Committee regarding enforcement actions, including the issuance of several Stipulation and Consent Orders and Cease and Desist Orders. The Board also reviewed the Executive Director's report covering budget, revenue, and licensing system updates, accepted the Investigator's report, and approved various applications for reinstatement, firm permits, and firm name changes. Additionally, the Board discussed peer review reports, adopted the 2026 meeting calendar, and heard a public comment regarding recent statutory changes affecting exam candidate recruitment. The Executive Committee also held a meeting covering similar operational updates including renewal season and committee work.

The committee reviewed recent statute changes and discussed public comment regarding statute changes and rule conformance. Additionally, the committee reviewed and determined proposed rule changes to present to the Board at an upcoming meeting and discussed future steps for the Laws and Rules Committee.

The meeting included the acceptance of the Investigator's Report, noting 94 open files. Discussions covered the Fiscal Year 2026 Budget and Revenue Report, the NASBA 2025 Q3 CPA Exam Report, and updates on license renewals. Funding was secured from the Technology Modernization Fund for licensing software replacement (LCS Modernization). Reports from the Complaint, Executive, CPE, Firm Credentialing and Peer Review, and Laws and Rules Committees were accepted, with the latter resulting in launching a new rules package. New business involved the approval of several applications for reinstatement and applications for Minnesota and Foreign Firm Permits. Two requests for license exception were denied. Several firm name changes were approved, and 34 Peer Review reports with a "pass" rating were accepted, with authority delegated to the Executive Director for future acceptance of similar reports. Travel authorizations were discussed for upcoming NASBA conferences. The Board adopted an expedited rules package and held an election, re-electing Charles Selcer as Chair, Godson Sowah as Vice Chair, and Todd Lifson as Secretary/Treasurer by acclamation. Public comment addressed board elimination movements in Florida.