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AICPA

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 www.aicpa.org/enforcement.
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
Technology

Computerized Uniform CPA Examination Tutorial Available

The CPA Letter - AICPAA tutorial for the computerized Uniform CPA Examination is now available. The tutorial was created to help familiarize accounting students and CPA Examination candidates with the revised Uniform CPA Examination, which will be delivered in a computer-based format beginning April 5, 2004. The tutorial explains the design and operation of the computer- based test, and reviews the types of questions and responses used in the new exam.

Niemeier: 'AICPA Has Made Some Big Blunders'

Charles Niemeier, a member of the five member Public Company Accounting Oversight Board, isn't sugarcoating his words when it comes to his enforcement role, or when describing the organization that used to be in charge of self-regulation for the profession.In addressing a group of journalists in Washington last week, Mr.
Practice Management

2003 MAP Survey Now Available Online

The 2003 National Management of an Accounting Practice (MAP) Survey is now available online. The MAP survey provides benchmark information for small and mid-size accounting practices. Significant features of this year's survey include the ability to customize results by sorting data by location, firm size, compensation, and profitability.The survey will be available throughout the rest of June, July, and through August 22. It takes about an hour to complete the survey, however the survey does not need to be completed in one sitting.
Education & Careers

Computerized CPA Exam Tutorial Now Available

Want to know how the new computerized CPA exam will work? Curious what it will look like? Wonder what's included? Now you can find out, thanks to a new online tutorial available at www.cpa-exam.org.The tutorial was created to help familiarize accounting students and CPA Examination candidates with the revised Uniform CPA Examination. The examination will be delivered in a computer-based format beginning April 5, 2004 throughout the United States.
Community News

Bob Bunting to Become Vice Chairman of AICPA

The Nominating Committee of the American Institute for Certified Public Accountants (AICPA) in New York has recently selected Robert Bunting, Chairman of Moss Adams LLP, to become the Vice Chairman of the AICPA and Chairman-elect, effective October 1, 2003. The 350,000-member group claims about 85% of all U.S. CPAs as members and has thousands of members in other countries.A Long Career of Service to the Accounting ProfessionBunting has been a CPA in public practice for over 30 years.

PCAOB, AICPA Meet to Discuss Transitioning Standards

A sixty-year old copyright on professional standards owned by the American Institute of CPAs was the subject of discussion this week in Washington, as the AICPA sat down with the Public Company Accounting Oversight Board to determine how to transition the standard setting responsibility.Last month the PCAOB agreed to temporarily adopt AICPA auditing standards until they have time to develop their own.

AccountingWEB Interviews... Barry Melancon, AICPA President

Supporters and critics of AICPA President Barry Melancon agree on one thing - as the head of a profession in the midst of unparalleled change, Mr. Melancon has been in a truly unique position as a leader, and has experienced a leadership perspective not often experienced by many others.
Community News

William W. Holder Honored as Outstanding Educator

William W. Holder, a professor at the University of Southern California's (USC) Leventhal School of Accounting, was honored this week by the American Institute of Certified Public Accountants (AICPA) as the 2003 recipient of its Distinguished Achievement in Accounting Education Award.The annual award recognizes full-time college accounting educators for excellence in teaching and national prominence in the accounting profession.

AICPA Resolves to Support CITP and Other Credentials

The American Institute of Certified Public Accountants has agreed to explore possible methods for enhancing its specialty credentials, including the Accredited in Business Valuation (ABV), the Certified Information Technology Professional (CITP), and the Personal Financial Planning Specialist (PFS).Earlier this spring, when the organization announced it would evaluate the future of the credentials, it received a backlash of response from credential holders who thought their credentials were being abandoned by the AIC
A&A

CPAs Join Red Cross in Financial Planning Aspects of Disasters

The American Institute of Certified Public Accountants (AICPA), and the National Endowment for Financial Education (NEFE) announced they have jointly developed a new, broad-based guide to help people affected by natural and man-made disasters recover from financial loss. Disaster Recovery: A Guide to Financial Issues will be offered free of charge by local American Red Cross chapters across the country as a public service to aid people affected by disasters and their families.

Era of Self Regulation Comes to an End

In a public meeting held April 16, the members of the Public Company Accounting Oversight Board voted to take control of the auditing and other professional standard setting processes, effectively ending the 60+ year era of self-regulation of the profession."This is a sharp departure from what has happened before," said Charles D. Niemeier, acting chairman of the PCAOB. "It's not to say the auditing standards are in effect broken, but it doesn't mean they can't be improved," Niemeier said.

SEC Rebukes AICPA on Standards-Setting Posture

The SEC wants the AICPA - and its members - to know, in no uncertain terms, who's in charge of standard setting. Last week AccountingWEB reported that the American Institute of CPAs had issued an Exposure Draft on Internal Control Reporting in an effort to help auditors understand and implement Section 404 of the Sarbanes-Oxley Act - "Management Assessment of Internal Controls".

AICPA Issues Internal Control Reporting Exposure Draft

In an effort to help auditors understand and implement Section 404 of the Sarbanes-Oxley Act - "Management Assessment of Internal Controls" - the AICPA's Auditing Standards Board (ASB) has issued an exposure draft on Internal Control Reporting.
Education & Careers

Sneak Preview of New CPA Exam to be Offered This Weekend

This weekend, Western Michigan University will be one of the few universities in the country where current and future accountants will get a sneak preview of the new computer-based Uniform CPA Examination.More than 60 Western Michigan University accounting majors and accountants from around the state will sit Friday and Saturday, March 14-15, for the pre-test of the new computerized Uniform CPA exam. Participants may choose to take any or all of the exam's four sections.

AICPA Reviews Specialties, Reassures Credential Holders

The American Institute of Certified Public Accountants announced last week its plan to evaluate the future of the organization's specialty credentials to determine if they should be strengthened, redesigned, remain status quo, or discontinued.Accreditations being reviewed include the Accredited in Business Valuation (ABV) credential, the Certified Information Technology Professional (CITP), and the Personal Financial Planning Specialist (PFS).Credential holders received a letter from Bruce Harper, AICPA's National Accreditation Commission (NAC) chairman, who indicated the NAC plans to an

H&R Block Swaps Ad Following CPA Backlash

Last month H&R Block launched an ad campaign that angered many accountants. The ads, seen by some as disparaging to CPAs, encourage taxpayers to choose H&R Block over a CPA for the preparation of tax returns. A letter writing campaign in protest of the ads was initiated by the AICPA.
A&A

Help is on The Way For Real Estate Time-Share Reporting

Professionals dealing with real estate time sharing transactions will soon get additional reporting guidance by both the AICPA and the Financial Accounting Standards Board.The AICPA has released a Statement of Position (SOP), "Accounting for Real Estate Time-Sharing Transactions." The proposed SOP would provide guidance on a seller's accounting for real estate time-sharing transactions in financial statements prepared in conformity with generally accepted accounting principles (GAAP).

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