AICPA

Technology

Journal of Accountancy launches new Web site

The Journal of Accountancy, the award-winning monthly magazine of the American Institute of Certified Public Accountants, introduced a redesigned Web site at the Institute's annual fall governing Council meeting. The new Web site is packed with new features, online-only articles, and a searchable archive of the magazine's authoritative and in-depth coverage of the accounting profession.

AICPA issues gold medals for distinguished service

Robert L. Bunting, CPA, former chairman of the American Institute of Certified Public Accountants, and David M. Walker, CPA, former comptroller general of the United States, are the 2008 recipients of the Institute's Gold Medal Award for Distinguished Service. The gold medal is the highest award granted by the AICPA. Bunting and Walker received the award today at the fall meeting of the AICPA governing Council. Robert L.

AICPA announces Business and Industry Hall of Fame winners

The American Institute of Certified Public Accountants has selected three 2008 inductees into its Business and Industry Hall of Fame, an annual event sponsored by the Mergis Group, a specialized finance and accounting placement firm. "The 2008 winners exemplify the strategic value of a CPA working in business and industry and demonstrate how a company can leverage the CPA skill set," said Christopher McKittrick, CPA, AICPA director of business, industry and government. "Each Hall of Famer was selected based on contributions to his respective organization's success.

GASB seeks comments on new proposals to transfer AICPA guidance

The Governmental Accounting Standards Board (GASB) is seeking comments on two new Exposure Drafts that set forth proposals to transfer accounting and financial reporting guidance currently contained in the American Institute of Certified Public Accountants (AICPA) auditing literature into the GASB's accounting and financial reporting literature for state and local governments.
Education & Careers

AICPA offers tips to parents sending children to college

If you have children getting ready to head off to college, there’s one subject you shouldn’t leave to their professors to cover.Money.The American Institute of Certified Public Accountants recommends that you have this all-important discussion before you and your dorm-bound kids walk out the door.“Start with establishing a simple budget for their spending money,” advises Susan Bruno, CPA/PFS, of Beacon Wealth Consulting LLC, Rowayton, Conn, and member of the AICPA’s Personal Financial Specialist Credential Committee.

AICPA and Texas Tech announce new pathway to PFS credential

The American Institute of Certified Public Accountants (AICPA) and Texas Tech University's Division of Personal Financial Planning have announced a joint agreement to develop a new educational program that will lead to the AICPA's Personal Financial Specialist (PFS) credential. The program will officially begin in June 2009, but the AICPA and Texas Tech have announced that they will conduct a PFS Pathway beta program or test program at AICPA offices in Dallas November 10 through 14th.

AICPA presents award to best early career researcher

Kristy Towry, Ph.D., assistant professor of managerial accounting and finance at the Goizueta Business School, Emory University was awarded the Best Early Career Researcher Award from the American Institute of Certified Public Accountants. The Chartered Institute of Management Accountants in the United Kingdom and the Society of Management Accountants (CMA Canada) co-sponsored the award.
Education & Careers

AICPA names Elijah Watt Sells award winners

The American Institute of Certified Public Accountants has announced the winners of the 2007 Elijah Watt Sells Awards. The awards are presented annually to the 10 candidates earning the highest cumulative scores on the four sections of the Uniform CPA Examination. These candidates must have completed testing during the previous calendar year and passed each exam section on their first attempt. In 2007, there were over seventy-six thousand examinees.The 2007 award winners (in alphabetical order, followed by their State Board affiliation) are:Steven J.

AICPA names 2008 Outstanding CPA in Government awards

Kurt K. Kawafuchi, CPA, J.D.-M.B.A., LL.M of Honolulu and Robert B. Scott, CPA of Carrollton, Texas have been named recipients of the American Institute of Certified Public Accountants' 2008 Outstanding CPA in Government Award. Kawafuchi received the state government award. Scott earned the local government award. The awards will be presented on August 18 at the AICPA's 25th Annual National Governmental Accounting and Auditing Update Conference to be held in Washington, D.C.

AICPA to offer XBRL seminar

The American Institute of Certified Public Accountants is offering a special two-day seminar, July 22-23, for financial professionals on understanding and applying the new eXtensible Business Reporting Language (XBRL) required for public companies by the Securities and Exchange Commission."This is a significant emerging issue for preparers," said Arleen Thomas, AICPA senior vice president member competency and development. The SEC proposed on May 30 to require all U.S.
Education & Careers

AICPA receives more than 360 minority accounting scholarship applications

The American Institute of Certified Public Accountants received more than 360 minority accounting scholarship applications following a workshop entitled "Lead the Way, Make a Difference, Become a CPA" to promote diversity within the accounting profession held May 29-31 in Peachtree, GA. The workshop emphasized the importance of obtaining the CPA credential and highlighted the flexibility and various career paths of the accounting profession. Session topics focused on the importance of networking and mentoring.

Like it or not, momentum is building for IFRS

Opinions are still mixed about the coming international financial reporting standards, or IFRS, but for those who are less than enthusiastic, it may all be over but the crying. Before summer is over, the final rules are expected to be written in stone. IFRS are set by the International Accounting Standards Board in London, the equivalent of our FASB in Norwalk, Connecticut. Barry Melancon, president and CEO of the AICPA said that momentum for the IFRS is building and most of the AICPA members he has talked to just want to get on with it the process.

AICPA to offer IFRS training

The American Institute of Certified Public Accountants has teamed up with IASeminars, a leading global provider of training courses on International Financial Reporting Standards, to offer CPAs and other financial professionals a comprehensive range of IFRS training solutions."It is becoming increasingly clear that CPAs in the U.S. will need to understand and learn how to apply international accounting standards over the next few years," said Arleen Thomas, AICPA senior vice president for member competency and development.

AICPA calls for three to five year timeline for IFRS transition

Barry C. Melancon, president and CEO of the American Institute of Certified Public Accountants, speaking at a forum of accounting and finance authorities on international accounting, called for a reasonable and clear-cut time frame of three to five years for the U.S. accounting profession to adopt International Financial Reporting Standards."Awareness is growing among U.S.
Community News

Deloitte tax partner wins AICPA Tax Division Distinguished Service Award

Alan R. Einhorn has received the American Institute of Certified Public Accountants Tax Division 2007-2008 Distinguished Service Award. The award was presented by Jeffrey R. Hoops, chair of the AICPA Tax Executive Committee, at the Spring Meeting of the AICPA Tax Division in New Orleans, Louisiana on June 2."Alan was an obvious choice for this year's award," said Tom Ochsenschlager, vice president of taxation for the AICPA.

AICPA adopts new ethics standard

Regulators like the U.S. Securities and Exchange Commission, state insurance commissions and federal banking agencies presently prohibit organizations under their jurisdiction from entering into certain types of indemnification and limitation of liability provisions in agreements for the performance of audit or other attest services.

AICPA introduces IFRS.com Web site to inform financial professionals about International Accounting Standards

The American Institute of Certified Public Accountants has announced the introduction of IFRS.com, a new Web site developed in partnership with its marketing and technology subsidiary CPA2Biz to help members and financial professionals learn about and stay informed on International Financial Reporting Standards (IFRS)."It is increasingly clear that as international standards gain wider acceptance and use in the United States, the accounting profession must keep pace," said Barry C. Melancon, president and chief executive officer of the AICPA.

AICPA Council votes to recognize IASB as a designated standard setter

The governing Council of the American Institute of Certified Public Accountants has voted to designate the International Accounting Standards Board in London as an accounting body for purposes of establishing international financial accounting and reporting principles.The amendment to Appendix A of AICPA Rules 202 and 203 gives AICPA members the option to use International Financial Reporting Standards (IFRS) as an alternative to U.S.
Tax

New CFF forensic accounting credential to be launched by AICPA in Fall

The governing Council of the American Institute of Certified Public Accountants has authorized the creation of a new CPA specialty credential in forensic accounting.The credential, Certified in Financial Forensics (CFF), will combine specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted business advisors, according to Robert Harris, chair of the National Accreditation Commission.

AICPA taking nominations for Outstanding CPA in Government Award

The American Institute of Certified Public Accountants is taking nominations for the annual Outstanding CPA in Government award. The nomination period has been extended to May 30, 2008.Three awards will be given – one for each level of government (federal, state and local). The awards will be presented at the Government Accounting and Auditing Conference in Washington D.C. in August.

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