CPA Letter articles from April 2001

CPA Letter archives from April 2001

Research Results Show Significant Support Among CPAs, Students for Proposed Global Credential.(global accounting credential)(Brief Article)
April 1, 2001... Recent research on the proposed global business credential ("XYZ") indicates strong acceptance of the credential among the pool of potential credential holders as well as a positive impact on potential student enrollment in accounting programs...

CPAs Go Online for USA Today Tax Hotline.(certified public accountants collaborate in Web-based tax hotline)(Brief Article)
April 1, 2001... Congratulations and thank you to the CPAs who made this year's USA Today tax hotline, in its new, Web-based format, a rousing success. CPAs went online from their offices during the paper's live hotline on Mar. I to answer tax questions from...

Founder of Vanguard Group Praises CPA Personal Financial Specialists.(John C. Bogle)(Brief Article)
April 1, 2001... Speaking before more than 600 CPAs at the recent Personal Financial Planning Technical Conference, founder of the Vanguard Group of Investment Companies John C. Bogle singled out CPA Personal Financial Specialists as the premier stewards of...

Reminder: Application Deadline for Committee Service Is May 1.(service on committees of American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... The deadline to apply for service on an AICPA committee, task force or expert panel is just around the corner: May 1. If you would like to be considered for service, log on to www.skillscape.com/aicpaonline and indicate your set of skills and...

Practice Alert 2001-1 Issued.(issuance of publication delineating practice guidelines for planning and performing audits)(Brief Article)
April 1, 2001... Practice Alert 2001-1, Common Peer Review Recommendations, has been issued. The Professional Issues Task Force believes that providing a summary of such recommendations will be helpful as CPAs consider critical and significant issues in...

Department of Commerce Looking for CPAs.(Import Administration of Department of Commerce seeks certified public accountants)(Brief Article)
April 1, 2001... The Import Administration of the U.S. Department of Commerce is searching for CPAs with two or more years of public accounting experience to perform cost-of-production investigations of foreign manufacturers. Knowledge of GAAP, GAAS and...

CPA Letter Supplements and Practice Alert Available.(Brief Article)
April 1, 2001... To obtain any of the member-segment supplements or Practice Alert 01-1 produced this month with The CPA Letter: ?? Dial 201/938-3787 from a fax machine and key in document nos.: large firms, 1557; medium firms, 1558; small firms, 1559;...

Risk Management "White Paper" Available.(issuance of publication on risk management by American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... To help enhance CPAs' role as trusted business advisers who assist business managers in maximizing their potential for success, the AICPA and the Canadian Institute of Chartered Accountants have published a "white paper," Managing Risk in the...

Red Cross Gets WebTrust Seal.(American Red Cross)(Brief Article)
April 1, 2001... The American Red Cross has met a comprehensive set of WebTrust Principles (including business practices, transaction integrity, security and privacy) for its site, RedCross.org. As such, visitors can see the new Seal in action by clicking on...

Help the AICPA Help You: Join the Capitol Club.(creation of donor club for financing of American Institute of Certified Public Accountants political action committee)(Brief Article)
April 1, 2001... By promoting the profession's interests in federal elections and in the Congress, the AICPA advances the advocacy goals of the accounting profession. But advocacy is more than understanding the issues. To make a difference, you have to help...

AICPA Supports Improved Business Reporting.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... The AICPA applauds the move toward improved business reporting documented by the Financial Accounting Standards Board's newly released study identifying voluntary disclosures of business information. The FASB study found that companies in...

FASB Reconfirms Plans to Eliminate Pooling-of-Interests Method of Accounting.(Financial Accounting Standards Board)(Brief Article)
April 1, 2001... In continuing its re-deliberations of the Sept. 1999 proposed statement, Business Combinations and Intangible Assets, the Financial Accounting Standards Board has tentatively decided to eliminate the pooling-of-interests method of accounting...

Survey on Performance Measurement Shows Finance's Role Seen as "Business Partner".(Brief Article)
April 1, 2001... In a survey on performance measurement, 81% of respondents indicated that finance serves as a "business partner" to the company and generally considered finance to be effective in analyzing business results, developing plans and budgets,...

CPA Performance View Update.(Brief Article)
April 1, 2001... The first of four public CPA Performance View PLUS workshops is scheduled for Chicago on June 27-29. Be sure to register early; the last workshop offered in Chicago was our busiest session. CPA Performance View PLUS is a 3-day training...

Labor Department Finalizes Rule to Improve Security of Small Pension Plan Assets.(Brief Article)
April 1, 2001... The Department of Labor's Pension and Welfare Benefits Administration has published a final rule to improve the security of more than $300 billion in assets held in private-sector pension plans maintained by small businesses. Historically,...

cpa2biz Puts Senior Leadership Team in Place.(Brief Article)
April 1, 2001... cpa2biz, the profession's Internet portal scheduled to launch by early summer, has assembled an accomplished senior leadership team with a depth of experience in accounting, information technology and business development. The management team's...

AICPA Files Successful Friend-of-the-Court Brief in Suit Against CPA Firm.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... AICPA Files Successful Friend-of-the-Court Brief in Suit Against CPA Firm The AICPA's legal Department routinely files amicus curiae briefs in matters which may affect the CPA profession. Recently, the Institute (represented by the law...

chair's corner.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... The governing Council will be gathering later this month for its spring meeting in Washington, D.C., and will be voting on whether to authorize a membership ballot that would enable the AICPA, which is a participant in an international...

Highlights of Board of Directors' February Meeting.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... Among other actions at its meeting on Feb. 8-9, the AICPA Board of Directors: * Was updated on the progress of the proposed global business credential, computerization of the CPA exam, and development of new and existing assurance products...

REPORT OF THE NOMINATIONS COMMITTEE.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... To: Members of the American Institute of Certified Public Accountants Pursuant to Article VI, Section 6.1.6 and 3.3 of the bylaws, the following report of the Nominations Committee is submitted. Richard I. Miller General Counsel &...

disciplinary actions.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... As a result of investigations of alleged violations of the Code of Professional Conduct of the AICPA and/or state CPA societies, the following ethics cases have been resolved by settlement agreement under the Joint Ethics Enforcement Program:...

Firms Terminated from Peer Review Program.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... Effective Dec. 6, 2000, the following firms were terminated from the AICPA peer review program for failure to cooperate with the AICPA Peer Review Board. Hearing panels deemed that these firms did not complete the corrective or monitoring...

Annual Report of Ethics Division Investigation Activity.(American Institute of Certified Public Accountants)(Brief Article)(Statistical Data Included)
April 1, 2001... January 1 - December 31, 2000 January 1 - December 31, 1999 The following is a statistical report from the Professional Ethics Division of investigation activity for the years ended Dec. 31, 2000, and 1999. The AICPA...

New CPE Standards Exposed for Comment.(Continuing Professional Education)(American Institute of Certified Public Accountants)(National Association of State Boards of Accountancy)(Brief Article)
April 1, 2001... An exposure draft proposing revisions to the Joint AICPA/NASBA Statement on Standards Jot Continuing Professional Education currently in effect was issued a year ago by the Joint AICPA/NASBA Committee on CPE Standards. Responses from...

Uniform CPA Examination Developments.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... As part of the AICPA Board of Examiners' effort to revise the Uniform CPA Examination and computerize its delivery, three documents have recently been released online. These documents are: * Exposure Draft, Proposed Structure and Content...

SEC Launches Modernized Web Site.(Securities & Exchange Commisn)(Brief Article)
April 1, 2001... Sporting streamlined graphics for quicker downloads, two new search engines and an improved layout, an enhanced version of Securities and Exchange Commission's Web site was launched in late Feb. The site (www.sec.gov) currently holds more than...

Certified Information Technology Professional Designation Bridges Business Goals and Technology Solutions.(American Institute of Certified Public Accountants)(Brief Article)
April 1, 2001... More than 300 members have successfully completed the Certified Information Technology Professional Assessment Tool and obtained the designation since its inception in Oct. 2000. The CITP credential is available to AICPA members involved in IT...