AICPA

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.
Tax

WorldCom Whistleblower to be Inducted Into Hall of Fame for CPAs

Cynthia Cooper, the former vice president of internal audit at WorldCom who exposed the largest corporate fraud in U.S. history, will lead the list of three new inductees into the 2004 American Institute of Certified Public Accountants. (AICPA) Business & Industry Hall of Fame, an annual event sponsored by Ajilon Finance, a leading accounting and financial staffing services company. Cynthia Cooper’s name became synonymous with integrity when she exposed the fraud at WorldCom – to date the largest corporate fraud in history. At the time, Ms.
Community News

Robin Taylor of Dixon Hughes is Appointed to the AICPA’s Business Valuation Committee

Robin Taylor, CPA/ABV, CFE, CVA, CBA, a Member of Dixon Hughes PLLC’s Birmingham, AL office has been appointed to the AICPA’s national Business Valuation Committee. Taylor’s term began on October 1, 2004. Part of the mission of the Business Valuation Committee is to raise awareness about the importance and value of business valuation and forensic litigation support services and to serve as a comprehensive resource provider on business valuation and forensic litigation support services for members.
Community News

Sandra Johnigan Earns Forensic & Litigation Award

The American Institute of Certified Public Accountants (AICPA) has named Sandra Johnigan the recipient of its 2004 Forensic & Litigation Services Volunteer of the Year Award.Johnigan, who operates her own litigation consulting and forensic investigation practice in Dallas, earned the award both for her contributions to the field and her service to the Institute.“Sandy has been an enthusiastic advocate of forensic and litigation services as a practice discipline for CPAs,” said Anat Kendal, AICPA Director of Financial Planning and Business Valuation/Forensic & Litigation Services.
Technology

AICPA Welcomes SEC's Proposed Rule on Use of XBRL

In response to last week’s proposing and concept releases by the U.S. Securities and Exchange Commission (SEC) on XBRL-Tagged Data in Commission Filings, the American Institute of Certified Public Accountants (AICPA), believes this is an ideal time for companies to embrace the XBRL (Extensible Business Reporting Language) standard as an important step in helping to enhance and modernize financial reporting.
Technology

AICPA Offers Online Portal for CPAs in Business Valuation & Forensic/Litigation Services

The American Institute of Certified Public Accountants (AICPA) this week unveiled a new dedicated Web site www.bvfls.aicpa.org for its members who specialize in Business Valuation (BV) and Forensic & Litigation Services (FLS).
Technology

Governmental Audit Quality Center Launched by AICPA

The American Institute of Certified Public Accountants (AICPA) announced the formation of a Governmental Audit Quality Center this week. The Center, which is now accepting member applications, is a firm-based, voluntary membership center designed to promote the importance of quality governmental audits and the value of such audits to purchasers of governmental audit services.
Tax

Former Executive Joins Most Wanted List

Getting your picture on the wall in the post office is not usually a time for celebration. For Tomo Razmilovic, the disgraced former president and CEO of Symbol Technologies Inc., the Holtsville, NY bar code scanner company, it simply means he is in no hurry to return to his former home in the United States. "I still believe in the American judicial system," the 62-year-old Mr.
Community News

AICPA Launches Privacy Services Resources for CPAs

With privacy services a burgeoning practice discipline for CPAs, the American Institute of Certified Public Accountants is helping its members achieve success with a series of privacy-related resources.“Privacy services are a terrific new service area for CPAs,” said Everett Johnson, Chair of the AICPA’s Privacy Task Force.
Tax

AICPA Ethics Committee Proposes Outsourcing Disclosure Rule

The Professional Ethics Executive Committee of the American Institute of Certified Public Accountants (AICPA) is proposing a rule that would require Institute members to disclose to their clients the outsourcing of professional services. “The outsourcing of services has been a subject of serious debate by members of Congress, the media, and state and federal regulators,” said Susan Coffey, AICPA Vice-President – Self Regulation.

AICPA Launches Survey on GAAP Statements; Private Co. Stakeholders

The American Institute of CPA’s (AICPA) announced last week that it had launched a Web-based survey to poll the stakeholders of private company financial reporting - bank lenders, investor and venture capital/buyout firms, surety, bonding and insurance firms, business owners and managers, auditors, and more - to determine if general purpose financial statements prepared for private companies’ stakeholders are meeting their needs.
A&A

AICPA Opposes Restrictions on Foreign Housing Benefit

A Senate proposal to limit a housing benefit employers provide to overseas workers has sparked opposition from the AICPA and business groups concerned about the loss of American jobs.The measure would change the 1978 formula for figuring the benefits for U.S. expatriate workers. Currently, overseas workers are allowed to exclude up to $80,000 from U.S. income taxes. If their employers pay for housing, however, they can exclude housing costs as long as they are not "lavish or extravagant," the Wall Street Journal reported.A proposal sponsored by Sen.
Community News

Fall Election May Bring Another CPA to Congress

The American Institute of CPAs is rooting for Republican Mike Conaway, a CPA who is expected to win election to the Texas 11th Congressional District.The AICPA said it supported Conaway in his desire to win a seat in Congress and introduced him to the Washington political community. If Conaway wins the general election in the fall, he would bring the total number of CPAs in Congress to five, joining Clay Shaw (R-Fla.), Colin Peterson (D- Minn.), Brad Sherman (D-Calif.) and Mark Kennedy (R-Minn.).Conaway has taken on leadership roles in the accountancy profession.
Practice Management

With Help of Accounting Industry, Career Paths are More Clearly Defined

Men in the accounting field aren't alone anymore on the path to becoming partners in their firms. CPA firms are making great strides toward assuring women the same opportunities as men by providing mentoring and a clearly defined path to success.The latest data available from American Colleges and Universities shows that in the 2001-2002 academic year, 57 percent of those receiving bachelor's degrees in accounting were women, compared to 43 percent male accounting graduates. Over one-third of all these graduates will take their first job in public accounting.

DOL and AICPA Partner on National Education Campaign

The U.S. Department of Labor (DOL) and the American Institute of Certified Public Accountants (AICPA) announced that they have partnered in a national campaign to educate employers and service providers about their fiduciary responsibilities under the Employee Retirement Income Security Act (ERISA). As part of the partnership, the AICPA will participate in a series of DOL seminars designed to educate small business plan sponsors and other fiduciaries on their obligations. Other partners involved in the campaign include: the National Federation of Independent Business, the U.S.

AICPA Launches Program to Improve America's Financial Literacy

The United States is suffering from a decline in the level of financial literacy among its citizens, according to a recent Roper Poll commissioned by the American Institute for Certified Public Accountants (AICPA). The survey results* reveal that many Americans lack a basic understanding of how to prepare for their short- and long-term financial needs.
Education & Careers

Computer Based CPA Exam Officially Launched

The American Institute of Certified Public Accountants (AICPA), the National Association of State Boards of Accountancy (NASBA) and Thomson Prometric have officially launched the computer-based Uniform Certified Public Accountant (CPA) Examination.The CPA Examination, which has a long and trusted history in the licensing of CPAs, will now be delivered on behalf of boards of accountancy through 300 Thomson Prometric testing labs in the United States, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.
Community News

AICPA Honors Top CPA Exam Performers; Women Bring Home Top Honors

The American Institute of Certified Public Accountants (AICPA) has announced the winners of the semi-annual Elijah Watt Sells Awards, presented to the CPA candidates who attain the highest combined grades in all four sections of the two-day Uniform CPA Examination. The Gold Medal winner for the highest grade is Alison Rae Mathis of Tampa, Florida.

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