CPA Letter articles from April 2003

CPA Letter archives from April 2003

Frequency of CPA letter increases; full edition to be available online. (news update).
April 1, 2003... As part of the AICPA's efforts to continually increase and improve member communications, starting in Sept. we will begin publishing The CPA Letter 12 times a year (up from 10 issues). What's more, starting with the May 2003 issue, each issue...

"Start here. Go places." Student recruitment campaign generates positive momentum.(Brief Article)
April 1, 2003... Research recently completed on the "Start here. Go places." CPA Student Recruitment Campaign shows that it is having a positive impact on high school and college students. What follows is a brief update on the recruitment initiative and some of...

Report of Nominations Committee available.(Brief Article)
April 1, 2003... The full Report of the Nominations Committee this year will be available online for the first time (i.e., not printed in The CPA Letter as in years past). Members should check www.aicpa.org for the report in mid-Apr. If the AICPA has your...

Computerized CPA Exam to launch in April 2004.(Brief Article)
April 1, 2003... With the final paper-based version of the Uniform CPA Examination to be given on Nov, 5 and 6 of this year, the first computer-based test will be administered Apr. 5, 2004. Starting on that date, the computerized exam will be offered up to six...

AICPA Life Insurance Plan enhancements announced.(Brief Article)
April 1, 2003... Two enhancements to the AICPA's CPA Life Insurance Plan take effect Apr. 1, 2003. Previously, Spouse Life Insurance had been available up to an insured member's own coverage amount; that requirement will no longer be in effect. The spouse of a...

Business and promotional merchandise in accessories collection proudly sport "CPA" logo.
April 1, 2003... Tens of thousands of members visibly display the "CPA" logo on their business cards, letterhead, promotional literature, signage, and even on lapel pins. In addition, many members use business gifts and giveaway merchandise which also...

H&R Block pulls television ad promoting its tax services.(Brief Article)
April 1, 2003... In a recent exchange of letters between AICPA President and CEO Barry Melancon and H&R Block Chairman and CEO Mark Ernst, H&R Block agreed to stop running one of two television ads promoting its tax services. H&R Block began running the two ads...

ASB issues exposure drafts related to Sarbanes-Oxley Act. (accounting & auditing news).(Brief Article)
April 1, 2003... The Auditing Standards Board has issued two exposure drafts that address provisions of the Sarbanes-Oxley Act, including a suite of standards that provides guidance about auditing an entity's internal control over financial reporting. The...

Sixth set of technical Qs&As on Software Revenue Recognition released. (accounting & auditing news).(Brief Article)
April 1, 2003... The AICPA staff, helped by industry experts, released a sixth set of technical questions and answers on financial accounting and reporting issues related to Statement of Position 97-2, Software Revenue Recognition. For the convenience of...

Draft practice aid issued on valuations of equity securities. (accounting & auditing news).
April 1, 2003... A preliminary draft of an AICPA practice aid, Valuation of Privately-Held-Company Equity Securities Issued in Other Than a Business Combination, has been posted to our Web site for public comment. The proposed practice aid would provide best...

Exposure draft released on accounting for time shares. (accounting & auditing news).(Brief Article)
April 1, 2003... An exposure draft of a proposed statement of position, Accounting for Real Estate Time-Sharing Transactions, has been issued by the Accounting Standards Executive Committee. The proposed SOP would provide guidance on a seller's accounting for...

Four-part Fraud Webcast series begins April 29. (accounting & auditing news).(Brief Article)
April 1, 2003... To help CPAs recognize fraud and develop systems and controls to prevent and deter it, the Institute has developed a four-part "AICPA Antifraud Series." The first two programs explore how aggressive accounting issues can cross over into fraud....

Disciplinary actions.
April 1, 2003... As a result of investigations of alleged violations of the Codes 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....

New online toolkit provides guidance to valuation analysts for compliance with SFAS nos. 141, 142. (accounting & auditing news).(Brief Article)
April 1, 2003... The new Fair Value Measurement Toolkit for Financial Accounting Standards Board Statement of Financial Accounting Standards No. 141 and SFAS No. 142 contains practical reference materials for valuation analysts performing fair value measurement...

Special report on litigation services released. (accounting & auditing news).(Brief Article)
April 1, 2003... Litigation services continue to be among the most important and fastest growing of the consulting services offered by the top 100 accounting firms, according to the latest Accounting Today Industry Survey. CPAs are involved in a wide array of...

Chair's corner.
April 1, 2003... This month I want to touch briefly on a number of pending issues. First, the Special Committee on State Regulation has been extremely busy working with state societies and other interested parties to respond to legislative initiatives in over...

Omnibus ethics exposure draft issued on proposed independence rule revisions.(Brief Article)
April 1, 2003... In Mar., the Professional Ethics Executive Committee issued an exposure draft containing revisions to Rule 101--Independence for non-attest services, loans and leases. Comments are due May 19, 2003. The exposure draft proposes several...

Highlights of February Board of Directors' meeting.(Brief Article)
April 1, 2003... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Feb. 6-7: * Proposed initiatives to enhance the disciplinary process were discussed, among other related activities....