AICPA

Technology

AICPA Launches Web Site For Employee Benefit Plan Audit Quality

The American Institute of Certified Public Accountants (AICPA) has launched an enhanced Web site for its members who audit or are interested in auditing employee benefit plans.
Tax

AICPA to Comment on PCAOB Proposal on Auditor Independence, Tax Services

The AICPA’s reaction was generally favorable to the rule proposed by the Public Company Accounting Oversight Board concerning tax services that can be offered to public company audit clients, but the Institute will submit a comment letter. Four circumstances are identified in the proposal that would be considered as impairing an auditor’s independence.
Community News

'America Counts on CPAs' — New Tagline for the Profession

The AICPA has officially rolled out the new approved tagline that accompanies the CPA logo: "America Counts on CPAs." This tagline will be used exclusively with the CPA logo, making "Never Underestimate the Value" obsolete. Members should note that there will be a transition phase during which existing inventory (i.e., AICPA stationery, brochures, etc.) that includes the old tagline will be used for cost efficiency purposes.

AICPA Committee Adopts Nonattest Services Changes

At its January 26-27, 2005 meeting, the AICPA’s Professional Ethics Executive Committee (“the Committee”) adopted revisions to Interpretation 101-3 – Performance of Nonattest Services, to provide clarification on the applicability and intent of the rule and ensure its continued effectiveness in promoting independence when a member renders nonattest services to an attest client. The revisions relate to:general requirement no.
Community News

Ben Neuhausen Named to AICPA’s Accounting Standards Executive Committee

The American Institute of Certified Public Accountants has named Ben Neuhausen of BDO Seidman, LLP, as Chairman-elect of its Accounting Standards Executive Committee (AcSEC). He succeeds Mark Bielstein of KPMG LLP, effective with the conclusion of the next AcSEC meeting.As a member of AcSEC, Neuhausen chaired the AICPA Task Force on Real Estate Time-Share Transactions. He also has served as a member of FASB’s Interpretation 46 Resource Group and its Liabilities and Equities Resource Group.
Community News

AICPA Announces Promotions/Organizational Changes

The American Institute of Certified Public Accountants announced on Monday several promotions within the Institute, as well as select organizational changes. Arleen Thomas, CPA, vice president, currently of Professional Standards and Services, will now serve as senior vice president of Member Competency and Development. Susan Coffey, CPA, vice president of Audit Quality and Professional Ethics has been promoted to senior vice president, Member Quality and State Regulation.

PCAOB Standards, Related Rules Reference Guide Offered by AICPA

The PCAOB Professional Standards and Related Rules (including SEC-Approved Releases and PCAOB Staff Q&A Guidance) has been developed by the AICPA to supply auditors with a workable, current, and comprehensive source of PCAOB standards for their engagements. This compilation delivers – Professional standards and staff guidance – including standards on auditing, attest, quality control, ethics, and independence. PCAOB Auditing Standard Nos. 1, 2, and 3, and all of the conforming amendments related to PCAOB Auditing Standard No.
Tax

AICPA Addresses Fraud in Audit Committee Guidance

As part of its ongoing fraud-prevention program, the American Institute of Certified Public Accountants today issued guidance to help U.S.
A&A

COSO to Help Small Businesses with Internal Controls

Small businesses are about to get help complying with the stringent new internal control requirements of the Sarbanes-Oxley Act.The Committee of Sponsoring Organizations (COSO) announced Monday that it will develop guidance that will help small firms follow the new rules without breaking their budgets, according to Dow Jones Newswires.The new guidance, which will be produced by PricewaterhouseCoopers LLC, will be available online by June 30.
Community News

AICPA Launches Online Resource for Financial Planners, Consumers

The American Institute of Certified Public Accountants (AICPA) recently introduced a new online resource for its CPA financial planning community. The resource offers CPAs access to a comprehensive library of tools and educational materials on a full range of financial planning practice areas, from disaster recovery and investment planning to ethics and fiduciary responsibility and more. It also offers information for consumers seeking financial planning guidance.
Technology

AICPA Outlines Top Emerging Technologies for 2005

Each year, the AICPA Top Technologies Task Force prepares a “watch list” of five emerging technologies that may not have viable commercial acceptance currently, but show promise in the next 24-36 months as having a potential impact on businesses and individuals.
A&A

AICPA Issues Statement on Accounting for Real Estate Time-Sharing Transactions

The Accounting Standards Executive Committee (AcSEC) of the American Institute of Certified Public Accountants has issued a Statement of Position (SOP) 04-2, Accounting for Real Estate Time-Sharing Transactions.AcSEC issued the SOP to address diversity in practice caused by a lack of guidance specific to real estate time-sharing transactions.
Community News

AICPA Launches Site for Auditors; Promotes Audit Quality

The American Institute of Certified Public Accountants (AICPA) this week unveiled an enhanced Web site for its members who audit or are interested in auditing public companies.
Community News

AICPA’s New Chair Calls on Profession to Accept Change

Robert Bunting, the new Chair of the American Institute of Certified Public Accountants, this morning called on his fellow CPAs to accept change and engage in cooperative dialogue with regulators to serve the public interest. He delivered the keynote address to an audience of more than 2,200 at the Institute’s 32nd National Conference on Current SEC and PCAOB Developments, which opened here today at the Marriott Wardman Park Hotel.“Change is critical to meet the current challenges of the profession,” said Bunting, who assumed the position of AICPA Chair in October.
Community News

AICPA Awards the Arthur J. Dixon Memorial Award to Retired E&Y Partner

Robert M. Rosen is this year’s recipient of the Arthur J. Dixon Memorial Award, the highest award given by the accounting profession in the area of taxation. The award, given by the Tax Division of the American Institute of Certified Public Accountants (AICPA), was presented today at the AICPA’s National Conference on Federal Taxes in Washington, DC. Rosen, a CPA and an attorney, is a retired partner of Ernst & Young, where he practiced with the firm’s National Tax Office for 28 years.
Practice Management

AICPA Adopts New Ethics Requirements for Members Who Outsource

The American Institute of Certified Public Accountants (AICPA) has adopted new ethics rules that place new requirements on members who outsource work.Two new rules and one revised rule spell out the responsibilities AICPA members now must meet when outsourcing clients’ work to third-party providers.
Tax

Thomas Purcell Named Chairman of AICPA Tax Executive Committee

Thomas J. Purcell III has been named Chairman of the Tax Executive Committee of the American Institute of Certified Public Accountants (AICPA). He is the first educator to lead the Committee.The Tax Executive Committee is the tax policy and standards setting body of the AICPA and represents AICPA members on tax matters being considered by Congress, the IRS, the Department of Treasury and other public groups.
Community News

Robert Bunting Elected Chair of the AICPA

Robert L. Bunting this week became Chair of the Board of Directors of the American Institute of Certified Public Accountants, succeeding S. Scott Voynich. His term as Chair, a volunteer position, is one year.Bunting, who recently stepped down as Chairman and CEO of the regional firm of Moss Adams LLP, assumed his new post at the AICPA governing Council’s Fall meeting in Orlando. He has served the AICPA for more than 20 years with membership on many volunteer committees, including a three-year term on the Board of Directors.

AICPA Launches New Website '360 Degrees of Financial Literacy'

As part of its on-going efforts to improve the financial health of Americans across all life stages and socio-economic levels, the American Institute of Certified Public Accountants (AICPA) and the CPA profession went live this week with its new consumer website.

AICPA Announces Retirement of J. Thomas Higginbotham

The American Institute of Certified Public Accountants (AICPA) announced today that J. Thomas Higginbotham, Vice President of Congressional and Political Affairs, plans to retire in January 2005 after 15 years of service. “Tom has had a long and distinguished career in Washington, DC. His commitment to the CPA profession and the AICPA – its staff and its mission – has been most valuable.

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