LANSING, Mich.—Sen. Tonya Schuitmaker has been awarded the Legislative Impact Award by the Michigan Association of Certified Public Accountants for her efforts to improve statutes governing the field of accounting.
Schuitmaker, R-Lawton, sponsored Senate Bill 783, now Public Act 268 of 2012, which reduces the cost of doing business in Michigan and defends a profession vital to Michigan’s fiscal stability by protecting CPAs from improper third party liability.
“Accountants play a significant role in the financial health of our state and businesses,” Schuitmaker said. “It was my pleasure to be able to sponsor this legislation that offers greater protection for accountants against liability while allowing them to better focus on their jobs.”
The legislation clarifies a Van Buren County Circuit Court decision that examined the statutory provisions that require a client to notify an accountant, in writing, of the intent of a third party to rely on the work of the accountant. The legislation clarifies that the notification is required before the time of the engagement.
The award was presented at the association’s annual dinner on Monday night in Birmingham.