Lipscomb professor accepts nomination to Auditing Standards Board
Andrew Glass |
The ASB consists of 19 members from around the country. The standards set by this board constitute policies and procedures that are to be used by CPA firms when conducting an audit. Through this auditing process, CPA firms are able to determine if companies have presented their financial statements in a correct and truthful fashion. CPA firms that do not adhere to the policies set by the ASB run the risk of losing their license to practice.
“It’s a special time to be involved with an organization like this because of recent scandals such as Enron,” Frasier said. “We are still feeling the effects of those incidents and it will be exciting and encouraging to participate in setting professional auditing standards for the accounting profession. Also, it is expected that the ASB will participate actively in the convergence of domestic and international auditing standards.”
The ASB acts as a senior technical and advisory committee for AICPA (American Institute of Certified Public Accountants). Together these organizations work to provide and assist CPAs with auditing standards, as well as standards for code of conduct and ethical rules to work by.
Frasier received his appointment to the ASB while serving as chair of the editorial committee for the TSCPA (Tennessee Society of Certified Public Accountants). He also served a three-year term on the Tennessee State Board of Accountancy, a state agency that issues and monitors licenses for CPAs.
Frasier received his nomination to the ASB from NASBA (National Association of State Boards of Accountancy), a non-profit organization that nominates five members at a time to the ASB.
Frasier considers the nomination to be a great honor and realizes he has a significant role to play in the realm of American finance and business.
“I think this will be a great way of giving back to the profession I’ve dedicated my life to,” Frasier said. “Being directly involved in the standard setting process will also sharpen me as a professor to college students who are entering the financial and accounting fields.”
In addition to his new appointment on the ASB, Frasier handles many other responsibilities. He is a partner at Frasier, Dean, & Howard PLLC CPA firm, a full time faculty member at Lipscomb, and an elder at the Brentwood Hills Church of Christ.
“I admit that I’m still worried about the time issue,” Frasier said. “However, I can see God’s purpose and sovereignty over my life and the position that He is moving me into. Personally and professionally we are all called to live by standards in family life, academic life, the business world, and in our relationship with God. A real professional is accustomed to working in an environment with standards, and I am honored to have the responsibility of helping set and determine those standards in my chosen profession.”