Previous Story
CNMI hopes to hold accountancy board in November
|
Posted on Feb 16 2000
The Tenorio Administration is confident the government will administer the United States accountancy certifying examination beginning November this year, citing strong support from various sectors in the CNMI.
Dan Nielsen, the governor’s special consultant on education, said both the education and business sectors rally behind the administration-sponsored legislation which will pave the way for the creation of an Accountancy Board that will administer the examination.
The CNMI government has been in communication with the prestigious New York-based American Institute of Certified Public Accountants for the eventual administration of the certifying examination in the islands.
House Majority Floor Leader Oscar Babauta has introduced the legislation which he claims receive tremendous support from the government, the business community and the education sector.
Among the American states and insular areas, only the CNMI and American Samoa are yet to hold such examination. The CNMI has a potential market of examinees from neighboring Asian countries.
The Commonwealth’s proposal to start holding the American board examination for CPA on the islands is expected to attract hundreds of accountants from Asia.
The government projects to generate $3 million a year for accommodating CPA board examinees and another $850,000 in immediate cash from test fees.
This is aside from hotel occupancy taxes that may be generated from the arrival of Asian examinees into the Northern Marianas.
According to Mr. Nielsen, foreign examinees normally travel to test sites at least two days before the actual examination date and leaves a couple of days later.
The program will also help bring about long-term benefits to the CNMI since foreign examinees will get the chance to see what the islands can offer in terms of tourism, Mr. Nielsen said.
He cited the benefits being reaped by Guam which signs up an average of at least 1,000 examinees for every examination.
