Last week a Daniels College of Business accounting professor testified on a proposed bill before the House Business Affairs committee.

Kevin O’Brian, an expert in business ethics, accounting and tax law, spoke to the committee about a proposed amendment to carve an exception to Colorado’s very strong accountant-client privilege.

The exception would allow the Colorado State Board of Accountancy to subpoena a CPA’s work papers without the consent of the client.

The goal of the bill is to allow the board to judge the fitness of the CPA to practice, as well as improve ethics across the entire business environment.

Current government regulations require company CEOs to sign off on tax and financial statements.

This bill may put even more responsibility on a corporation when reporting its true earnings.