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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.

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.

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.

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

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.
Community News

Free Webcast "Arresting Financial Fraud: The Inside Story From The FBI"

On November 6, 2003 the American Institute of Certified Public Accountants (AICPA) and senior members of management of the Federal Bureau of Investigation (FBI) will join forces and present a free, interactive Webcast about preventing and detecting corporate financial fraud. This unique program will discuss "lessons learned" from real-life cases pursued by the FBI. It also will discuss the FBI’s "Fraud Radar;" where it’s currently focused, and areas of future concern.
Community News

2003 MAP "Top Five Issues" Survey Provides Insight into Accounting Profession

For the sixth consecutive year, “finding and retaining qualified staff” is the top pressing issue for CPA firms, according to this year’s “Top Five MAP Issues” survey, conducted by the American Institute of Certified Public Accountants (AICPA).

Computerized CPA Exam Webcast Series Launched

The first of four live webcasts about the computer-based Uniform CPA Examination will broadcast next week from the (AICPA) studios. "With the new exam only six months away, we’re committed to helping everyone understand the changes and enhancements.” said Arleen Thomas, AICPA Vice President – Professional Standards & Services. The first of the series, "Educators: How to Prepare for the Computerized CPA Exam," is focused on educators and those who prepare Exam candidates. The webcast is scheduled for Wednesday, October 15, from 1:00 to 3:00 p.m. Eastern Time.

CPAs Band Together to Confront AICPA

The executive team of CPAs Reforming Our Profession (CROP), a self-described group of "concerned members of the AICPA," has submitted recommendations to council members of the American Institute of Certified Public Accountants with the hope of influencing the direction of discussions to be held at the AICPA's annual Council meeting scheduled for October 19-21, 2003 in New Orleans.CROP, founded by 12 accountants in the summer of 2002, is on a mission to restore public confidence in the "integrity, ethics, and honesty of the CPA." To that end, the group has submitted the following suggestions

AICPA Board Recommends Retaining Specialty Credentials

A six month review of the options of what to do with the AICPA specialty credentials has resulted in a recommendation to the governing council to retain the specialties inside the AICPA.The credentials in question - Personal Financial Specialist (PFS), Certified Information Technology Professional (CITP), and Accredited in Business Valuation (ABV) - have been supported by the AICPA but were questioned as to the ongoing merit of financially promoting the credentials due to the relatively low number of credential hold
Practice Management

AICPA Task Force Issues Report Containing 14 Recommendations

The task force appointed in February to study the role and responsibilities of the governing Council of the American Institute of Certified Public Accountants has sent its report, containing 14 recommendations, directly to Council, the AICPA announced this week. "The Institute authorized us to undertake whatever actions and inquiries we thought appropriate to fulfill our assignment," said Timothy O’Brien of Colorado, who headed the seven-member task force. "Our mission was to evaluate how representatives are elected to Council and how Council conducts its activities.
Education & Careers

Accountemps, AICPA Announce Scholarship Winners

Accountemps and the American Institute of Certified Public Accountants (AICPA), recently announced the recipients of the 2003-2004 Accountemps/AICPA Student Scholarship. Accounting students Molly Garvin, of the University of Texas at Austin, and Jeffrey Koga, of the University of Wisconsin Oshkosh, received $2,500 each to support their education; Douglas Reese, of Northern Illinois University, was awarded $1,000 toward his tuition.

AICPA Holds Member Referendum on Enhanced Disciplinary Measures

Press ReleaseThe American Institute of Certified Public Accountants is seeking its members' approval on two proposals to enhance the ethics enforcement process. Ratification of the proposals would result in an amendment to the Institute bylaws. The AICPA today mailed ballot packages to its more than 340,000 members. The ballots are also available on the Institute web site at
Community News

AICPA Launches Audit Committee Matching System

The CPA Letter - AICPAIn an effort to support and promote effective audit committees for organizations across the spectrum of the American economy, the AICPA has created the Audit Committee Matching System, part of our Center for Audit Committee Effectiveness which will be launched later this year.This system was built for two reasons: for our members, to provide them with opportunities to serve on boards of directors; and as a public service, to provide companies access to a database of CPAs wh


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