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A&A

AICPA Sends Message to the FAF Re: Private Companies

The AICPA's governing council approved a resolution that sends a strong message to the Financial Accounting Foundation (FAF) recommending move to adopt the Blue Ribbon Panel on Standard Setting for Private Companies' recommendations for a separate board.
Technology

CPA.com: New e-Mail Service for AICPA Members

CPA2Biz, the technology subsidiary of the American Institute of Certified Public Accountants (AICPA), will offer a CPA-branded email service for members on CPA2Biz’s new umbrella brand, CPA.com in coming weeks.
Community News

Greg Anton Elected AICPA Chairman

Gregory J. Anton, CPA, has been elected the new chairman of the American Institute of Certified Public Accountants (AICPA) for a one-year term ending in October 2012.
Tax

AICPA: IRS Should Revise Proposed Regs Regarding Competency Exam and Fingerprinting for Tax Preparers

Patricia A. Thompson, chair of the AICPA Tax Executive Committee, is urging the IRS to make changes to the user fee regulations it has proposed for tax return preparers as part of its preparer oversight program.
Community News

Sidney Kess and S. Scott Voynich Receive AICPA Gold Medal Award

The American Institute of Certified Public Accountants (AICPA) is pleased to announce that Sidney Kess, CPA, JD, LLM, and S. Scott Voynich, CPA, are the recipients of the AICPA 2011 Gold Medal Award for Distinguished Service.
Education & Careers

AICPA Announces a Major Change for CPA Exam Candidates: Reduced Wait Time for Results

Beginning in the fourth quarter of 2011, exam scores will be released earlier and more frequently. The change is in response to the most common request made by test takers since 2004 when the exam went from a pencil-and-paper format to a computerized format.
A&A

FAF Rejects Independent Standard Setting Board for Private Companies

A new council with the authority to identify, propose, and vote on specific improvements to U.S. accounting standards for private companies has been proposed by the Board of Trustees of the Financial Accounting Foundation (FAF).
A&A

Accounting community calls for independent standards board for private companies

CPA firms, private companies, lenders, and nonprofit entities have joined in a massive letter-writing campaign to the Financial Accounting Foundation (FAF) to express their views on the need for separate standards and an independent standard setting board for private companies.
Education & Careers

AICPA sponsors second annual case competition for accounting students

The 2011 AICPA Accounting Competition, which launched on August 29, 2011, will test students' fraud and forensic accounting skills in a complex scenario focused on a fictional Texas company looking to expand its business into Nigerian oil fields.
A&A

Privately held companies are overwhelmingly in favor of separate reporting standards

Nearly 2,500 letters were sent to the Financial Accounting Foundation demanding the creation of an independent separate board to develop different standards for privately held businesses. According to the AICPA's review, 99 percent of privately held businesses are in favor.
A&A

AICPA panel addresses economic data and what it means for CPAs

Panelists in a recent AICPA Webcast were invited to take a close look at the pessimistic conclusions of the CPA Outlook Index for the third quarter, and consider what it could mean for CPAs and their clients.
A&A

Latest CPA Outlook Index provides grim view of the economy

The outlook for the U.S. economy turned negative in the third quarter for the first time since 2009 as prospects for recovery waned and concerns about a second recession rose.
Community News

Oklahoma CPA receives special recognition award from the AICPA

In his more than 40-year career as a member of the CPA profession, Carlos E. Johnson, CPA, EdD, has approached service to his vocation not as a duty, but as a calling – to consistently provide exemplary and unwavering leadership on the industry's legislative, academic, and not-for-profit fronts.
A&A

AICPA says U.S. companies should have option to use IFRS as issued by IASB

The SEC is expected to decide later this year whether, and if so, how, public companies in this country should incorporate IFRS into their financial reporting. The AICPA thinks public companies should be given the option of using IFRS as issued by IASB.
A&A

The 2011 Women to Watch awards – recognizing outstanding women in the accounting profession

Outstanding women – those who have made significant contributions to the accounting profession and to the development of women – receive recognition through the Women to Watch program.
Tax

AICPA letter requests extension for 2010 decedent tax forms

The AICPA has requested that the IRS issue a blanket extension of time to file the 2010 Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, and the 2010 Form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, for the estates of persons who died in 2010.
Community News

Mat Young named AICPA vice president of state regulation and legislation

The American Institute of Certified Public Accounts (AICPA) has named Mat Young as its vice president of state regulatory and legislative affairs. Young previously served as AICPA director of congressional and political affairs. 
A&A

NASBA, AICPA announce online mobility tool designed to help CPAs practice across state borders

The NASBA and the AICPA have launched an online tool designed to help CPAs navigate the new practice privilege requirements, commonly referred to as mobility laws, that allow CPAs to practice across state borders.
A&A

Private companies, auditors pressure Financial Accounting Foundation for separate standards

Auitors, private company executives, and lenders have submitted comment letters to the Financial Accounting Foundation in support of separate standards for private companies.
Tax

AICPA supports new tax preparer registration program

While over 712,000 tax preparers registered and received PTINs for the 2011 tax filing season, there were still about 100,000 preparers who either used outdated PTINs or used social security numbers on returns they prepared this past filing season.

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