AICPA

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.
Tax

AICPA Chairman Responds to Foreign Outsourcing Concerns

In a recent letter to Scott Voynich, Chairman of the Board of Directors for the AICPA, the Executive Board of the Texas Society of CPAs expressed concern over the growing trend of CPAs outsourcing services to foreign countries. You may read the AICPA's response below. Nita J.
Tax

Texas Society of CPAs Speaks Out About Foreign Outsourcing Trends

In a recent letter to Scott Voynich, Chairman of the Board of Directors for the AICPA, the Executive Board of the Texas Society of CPAs has expressed concern over the growing trend of CPAs outsourcing services to foreign countries. You may read and comment on this trend below. AccountingWEB members may add their comments below. Just click on the orange comment button below this article and add your comments and thoughts on this issue. Letter to the AICPANovember 11, 2003S.

ASA, AICPA Reach Education Agreement For Business Valuation

The American Society of Appraisers (ASA) and the American Institute of Certified Public Accountants (AICPA) reached agreement on an educational equivalency program for business valuation professionals of the two organizations.Both the 6,000-member ASA and the AICPA, which has more than 330,000 members, have premiere certification programs and offer designations for individuals who specialize in business valuation (BV), the offering of independent, unbiased opinions of value of intangible assets, businesses and business interests of all sizes.Under the agreement, an AICPA member who has p
Community News

2003 MAP Survey Results Reveal CPA Firm Growth Despite Sluggish Economy

Despite the down economy, 15% of local and regional firms surveyed in this year’s PCPS/Texas Society of CPAs (TSCPA) National Management of Accounting Practice (MAP) Survey reported an increase in client fees of more than 20%. A record-breaking 3,300 firms responded to the survey. The average participant firm employs seven CPAs and reported gross fees earned of approximately $1.4 million.
Technology

AICPA Launches Educational Competency Assessment Site

The American Institute of Certified Public Accountants (AICPA) recently announced the creation of "The Educational Competency Assessment (ECA)" Web site. This site will provide resources to help educators integrate the skills-based competencies needed by entry-level accounting professionals. These competencies, defined within the AICPA Core Competency Framework Project, have been derived from academic and professional competency models and have been widely endorsed within the academic community.
Community News

Voynich Elected as New AICPA Chairman; Stresses Integrity

S. Scott Voynich, managing partner of the Georgia firm of Robinson, Grimes & Co., has assumed the chairmanship of the American Institute of Certified Public Accountants, succeeding William F. Ezzell Jr. His term as Chairman, a volunteer position, is one year.In his inaugural speech, delivered at the AICPA governing Council’s Fall meeting in New Orleans, Voynich stressed the critical role that integrity plays in the profession."Integrity is not something you carry with you only when you meet clients or walk through your office door," he said.

AICPA Approves Major Changes at Council Meeting

The governing council of the American Institute of CPAs met in New Orleans this week, and on their agenda were changes to a number of areas that ultimately will subtly change the face of the organization that represents the profession.At its meeting on Monday October 20, the council reached agreement on a number of issues:Approval to Change Two Ethics Bylaws - The first bylaw change broadens and extends the AICPA's current authority to sanction "automatical
A&A

AICPA Council Votes to Retain Credentials

The AICPA governing Council has decided to retain the Institute’s three specialty credentials and provide financial support for them, the underlying disciplines and the membership sections. The vote came on the final day of Council’s fall meeting in New Orleans and followed six months of exploring whether to keep the specialties inside the AICPA.Council approved a resolution submitted by the AICPA Board of Directors.

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