AICPA

Education & Careers

Pennsylvania Poised to Join 47 CPA Jurisdictions with 150-Hour Rules

The 150-hour rule, hotly debated a few years ago, is gaining new attention in Pennsylvania where a bill winding its way through the Legislature would place that state with the other 47 CPA jurisdictions that require candidates to complete 150 hours of undergraduate study to qualify for the CPA license.Advertisement
Tax

Federal Contractors Probed as Tax Gap Widens

A new report released by the Government Accountability Office (GAO) shows that more than 3,800 contractors doing business with the General Services Administration (GSA) have tax debts totaling some $1.4 billion, reports Time.
Tax

A Conversation With...Lou Grumet

In the eight years that Lou Grumet has been executive director of the New York State Society of CPAs (NYSSCPA), he and the nation’s largest CPA society have assumed a high profile in an array of accounting profession issues, sometimes in tandem and sometimes at odds with the American Institute of CPAs (AICPA). This year is no exception.With Grumet as their point person, the 33,000-member NYSSCPA has stepped to the forefront in the nation’s tax reform debate, proposing its own resolution and using its perch in the nation's media capital, New York City, to draw attention to its cause.
Education & Careers

More Accounting Grads Putting Off CPA Certificates

It has been found that although there are more college students studying accounting by the American Institute of Certified Public Accountants (AICPA), there are many accounting graduates that are not pursuing their CPA certificates.
Community News

AICPA and NYSSCPA Differ Slightly on Peer Review

The American Institute of CPAs’ (AICPA) proposal to enhance peer review and to get all states to mandate it, is drawing mixed support from the New York State Society of CPAs (NYSSCPA), the nation’s largest society and one of the few states that does not currently mandate peer review.Advertisement
Community News

Matherne Expects to Stay Active With CPAs

Although he’s leaving the American Institute of CPAs (AICPA) where he led some of the most significant efforts in information technology, Louis Matherne expects to still be very active with CPAs and their work with technology.Advertisement
Community News

CCH Disclosures Checklist Available on the Center

Members of the American Institutes of Certified Public Accountants (AICPA) Center for Public Company Audit Firms (CPCAF or the Center) will now have access to CCH’s SEC Disclosures Checklist tool to assist them in performing high quality public company audits by ensuring they are complying with the disclosure requirements under the rules and regulations of the Securities and Exchange Commission (SEC).
A&A

AICPA Issues New Risk Assessment Standards

Eight new statements, collectively referred to as the Risk Assessment Standards, have been approved by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA). The new Statements on Auditing Standards (SAS), SAS No. 104 through SAS No.
Practice Management

A Conversation With...Leslie Murphy

When Leslie Murphy ascended to chairwoman of the American Institute of Certified Public Accountants (AICPA) in October, she pointed to the looming shortage of public accountants as a serious challenge facing the profession.Added pressures stemming from compliance with the Sarbanes-Oxley Act is causing strife and turnover, creating an environment in which one in six CPAs left his or her job in 2004, she said during her inaugural speech.But despite the challenges, Murphy remains upbeat about the future, as more college students are seeking the profession as a career, she told AccountingWEB
Education & Careers

Tweens Savvy About Savings

The next generation is learning financial prudence, according to a survey of American “tweenagers” conducted by Weekly Reader Research and the American Institute of Certified Public Accountants (AICPA). When asked what they would do with a gift of $100, 59 percent of children between the ages of 9 and 12 indicated they would save at least $50.The announcement of the survey results, coincide with the launch of a special “Budget Buzz” program.
Practice

AICPA Giving Practice Management Content Away Through Mid-May

Certified Public Accountants (CPAs) looking for information that can help them, and their firms, become more successful, have until mid-May to access members-only content from the American Institute of Certified Public Accountants’ (AICPA’s) Private Companies Practice Section (PCPS), even if their firms are not PCPS members. The normally restricted content, from noted professionals in the field, is free to all, for a limited time.Content in the PCPS membership section draws on the experience of more than 83,000 CPAs from 6,000 local and regional firms across the country.
Technology

New Agreement Opens Doors to CPA.CITP Certification for CPA/CISA Practitioners

The American Institute of Certified Public Accountants (AICPA) and the Information Systems Audit and Control Association (ISACA) announced a new agreement between the organizations on Thursday.
Community News

Students Find Real Solutions for Local and Game Businesses

In response to immediate problems experienced by local businesses in the Bloomington, Indiana area, a program established by Indiana University is finding solutions. Each fall semester, graduates students in their Kelley School of Business complete field consulting projects while being mentored by faculty advisors. More than 20 teams of four or five graduate students from the MBA in Accounting (MBA/A) and the Master of Professional Accountancy (MPA) programs partner with local businesses to complete these field consulting projects.
Community News

Mark Your Calendar: Big-time Practice Management Conference Open to All Firms

One of the accounting profession’s biggest annual events dedicated to tips and trends in the successful management of firms—the Advisory Board’s “Winning Is Everything” conference – is scheduled for January 11-12 at Las Vegas’s newest casino, Wynn Las Vegas.
Community News

AICPA Supports Bill on Non-Resident Retirement Income

The American Institute of CPAs has supported a House bill that would ensure that certain deferred compensation plans would not be eligible for non-resident state income tax.The AICPA said that it opposes the position that states can tax the nonqualified retirement benefits paid by a partnership to its retired non-resident partners.States are prohibited from taxing the retirement income of non-residents under Public Law 104-95, passed in 1996.
Community News

Regulators Call for More Transparency, Less Complexity

The Securities and Exchange Commission (SEC) is seeking help from the accounting industry to simplify the rules that may be partly to blame for the corporate scandals of recent years, the SEC chairman said Monday.The SEC, working with the Public Company Accounting Oversight Board (PCAOB) and the Financial Accounting Standards Board (FASB), is undergoing a “major national effort to make accounting less complex,” said SEC Chairman Christopher Cox, at the American Institute of Certified Public Accountants' (AICPA) annual meeting in Washington, D.C.
A&A

AICPA National Conference on Current SEC & PCAOB Developments

The American Institute of Certified Public Accountants (AICPA) is holding its 33rd annual National Conference on Current Securities and Exchange (SEC) and Public Company Accounting Oversight Board (PCAOB) Developments this week. The conference is being held at the Marriott Wardman Park located at 2660 Woodley Road, NW, Washington, DC. The conference will conclude Wednesday, December 7, 2005. The AICPA’s new Chair, Leslie Murphy, opened the conference. Murphy said, “Reliable and transparent financial reporting is fundamental to the well-being of our capital markets.
A&A

AICPA Receives IRS Citation of Excellence

Kevin Brown, Commissioner of the Small Business/Self Employed Operating Division of the Internal Revenue Service (IRS) presented a citation for excellence to the American Institute of Certified Public Accountants (AICPA) at the annual National CPA/IRS Tax Issues Meeting in Washington, D.C. earlier this month. The citation was presented for “outstanding team effort in delivering products, services and education to the Small Business/Self Employed Operating customer,” for the AICPA’s work assisting small business taxpayers in conjunction with the IRS.
Tax

Federal Tax Reform Panel Makes Recommendations

The President’s Advisory Panel on Federal Tax Reform presented its recommendations this week. Convened to find simpler and economically effective ways to streamline the nation’s current tax code, the nine members have completed their task well but the controversy has only started. The panel was co-chaired by former senators Connie Mack (R-Florida) and John Breaux (D-Louisiana). In a letter to Treasury Secretary John Snow, the panel wrote, “The effort to reform the tax code is noble in its purpose, but it requires political will power.
Practice

White Paper Overview: CPA Firms Lack Formal Staffing Programs

Few certified public accounting (CPA) firms have formal, documented programs for attracting and retaining qualified staff members a recent survey conducted by the Private Companies Practice Section (PCPS) of the American Institute of Certified Public Accountants (AICPA). Survey results appear in the white paper Best Practices in Recruiting and Retaining Talented Staff. “Unfortunately, many firms believe that they lack the resources to implement a formal program.

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