CPAs from outside California will now be able to serve clients in the state without obtaining a license or paying a fee to the California Board of Accountancy (CBA) under a new law signed on September 20 by Governor Jerry Brown.
A recent webcast presented by the FASB reviewed key areas of the “Private Company Decision-Making Framework – A Framework for Evaluating Financial Accounting and Reporting Guidance for Private Companies” staff paper.
FAF has announced the appointment of the chairman and nine members of the newly created Private Company Council, which will work with FASB to determine whether and when to modify US GAAP for private companies.
On September 19, the Center for Audit Quality released its sixth annual "Main Street Investor Survey," which shows that investor confidence in capital markets has increased 4 percentage points since 2011.
Parties interested in submitting written comments on the GASB Exposure Draft, "Accounting and Financial Reporting for Nonexchange Financial Guarantee Transactions," should file comment letters by Friday, September 28, 2012.
As a cofounder of COSO, IMA has contributed to the latest COSO exposure draft "Internal Control over External Financial Reporting: Compendium of Approaches and Examples" and encourages small businesses to provide input.
Stakeholders will have another opportunity on October 18 to earn CPE credit while learning about a recent FASB staff paper and its recommendations for creating a private company decision-making framework.
Financial Executives International (FEI) has announced the release of its first-ever "Congressional Scorecard," which rates lawmakers' records on their votes for or against FEI's priority legislative issues.
Sometimes overlooked in the debate about SOX are the contributions it has made in generating a greater focus on improved corporate governance and stronger ethics and compliance programs. Needed improvement in audit quality is a continuing concern.