AICPA

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.
Practice Management

New Guidance to Help Businesses Comply With Privacy Laws

CPAs seeking to help their clients and employers understand privacy legislation and adopt good privacy practices may turn to new guidance developed jointly by the American Institute of Certified Public Accountants (AICPA) and the Canadian Institute of Chartered Accountants (CICA). The guidance, called the AICPA/CICA Privacy Framework, is available at www.aicpa.org/privacy.
Community News

AICPA Launches Audit Quality Center For Benefit Plan Audits

The American Institute of Certified Public Accountants (AICPA) announced this week the formation of an Audit Quality Center for CPA firms that audit employee benefit plans.
Community News

AICPA Task Force to Explore Financial Reporting for Private Companies

With the vast majority of U.S.
Technology

CPA Examination Registration Begins; Tutorial and Sample Tests Online

The Uniform CPA Examination has been revised and is now delivered by computer. The revised examination consists of multiple-choice questions and condensed case studies called simulations. Thomson Prometric annouced on March 1 that scheduling for all four (4) exam sections can now be done through the Internet. To take the CPA Examination, you must contact the Board of Accountancy, or the board’s designated agent, in your selected jurisdiction to receive an application form.
Community News

AICPA Board Approves Third Term for Barry Melancon

The Board of the AICPA has voted to extend Barry Melancon’s term as President and CEO of the AICPA for an additional five years. Melancon, 45 years old, was elected to this position in July of 1995, and will continue to direct the Institute’s operations in New York, New Jersey, Washington D.C., and Texas.In making this announcement, S. Scott Voynich, Chairman of the AICPA, said: "Those of us who have worked closely with Barry know first-hand his capabilities and thorough knowledge of the profession.
Technology

The CPA Exam Pilot Comes to a Successful End

The successful completion of a pilot version of the computer-based Uniform Certified Public Accountant (CPA) Examination was announced jointly today by the American Institute of Certified Public Accountants (AICPA), the National Association of the State Boards of Accountancy (NASBA) and Thomson Prometric. Beginning April 5, 2004, the computerized CPA Examination will be delivered on behalf of boards of accountancy through 300 Prometric testing labs in the United States, the District of Columbia, Guam, Puerto Rico, and the U.S.
Tax

AICPA Identifies Three Goals for IRS Strategic Plan

The principal strategic goals of the IRS over the next five years should be to continue to build on the agency’s reorganization, to support the information technology modernization efforts, and to strengthen enforcement activities, the American Institute of Certified Public Accountants (AICPA) said at a meeting of the IRS Oversight Board.Improved communication was highlighted by Mark VanDeveer, chair of the AICPA’s IRS Practice and Procedures Committee, as a necessary central feature for the IRS’s next five-year strategic plan in order for the agency to successfully build on the restr
Technology

AICPA Announces 2004 Top 10 Technologies

The American Institute of Certified Public Accountants has announced its roster of Top 10 Technologies for 2004. These are the items expected to wield a powerful influence over business in the coming year.The 2004 list breaks two records. First, there are seven items debuting as AICPA Top Technologies.
Community News

AICPA Launches Center For Public Company Audit Firms

The SEC Practice Section is now The Center for Public Company Audit Firms.  As a voluntary membership center, it will support member firms that audit or are interested in auditing public companies with education, communication, representation and other means. Members can use the Center as a resource and sounding board for interpreting requirements and instituting required changes from the PCAOB.
Community News

AICPA Exposes Two Proposed Statements on Standards for Accounting and Review Services

The AICPA’s Accounting and Review Services Committee (ARSC) has issued two exposure drafts of proposed Statements on Standards for Accounting and Review Services (SSARS). One of the proposed Statements, Standards for Accounting and Review Services establishes a SSARS hierarchy. In addition, the proposed Statement addresses a technical correction to SSARS No. 2, Reporting on Comparative Financial Statements (AICPA, Professional Standards, vol. 2, AR sec. 200). The proposed Statement will revise SSARS No. 2 (AR sec.
Community News

Ochsenschlager Joins AICPA as Vice President - Taxation

Thomas P. Ochsenschlager will join the American Institute of Certified Public Accountants as Vice President- Taxation, it was announced by the AICPA last week.In this role, he will work with the Tax Executive Committee in developing AICPA tax policy positions, shaping and communicating the Institute’s initiatives in tax matters, and providing tax products and services for members.

AICPA Publishes Audit Committee Guidelines

In order to assist audit committees meet their up-to-date oversight responsibilities on behalf of shareholders mandated by the Sarbanes-Oxley Act of 2002, the American Institute of Certified Public Accountants (AICPA) has published a "how-to" guide for audit committees, the AICPA Audit Committee Toolkit. The Toolkit provides comprehensive advice on audit committee duties such as agenda-setting, conducting executive sessions and evaluating the effectiveness of auditors and the audit committee, itself.
Community News

AICPA Chair, Voynich Calls For More Changes

S. Scott Voynich, Chair of the American Institute of Certified Public Accountants, said today that further changes were necessary to regain the confidence of American investors. Voynich was the keynote speaker at the Institute's 2003 AICPA National Conference on Current SEC Developments, which opened today."It is not enough to embrace change," Voynich said to an audience of nearly 2,000 CPAs, regulators and reporters.
Community News

AICPA Takes Steps to Improve Investor Confidence

Correction: In our item this week headed "New Accounting Standard SAS 99 to Begin December 15, 2003," we indicated that the new standard is effective for audits performed for periods beginning on or after Dec. 15. We need to make clear that this new standard is effective for audits performed for periods beginning on or after Dec. 15, 2002 (not 2003). Audits performed for periods beginning on or after Dec.

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