CPA Letter articles from April 2004

CPA Letter archives from April 2004

Quality Center for Employee Benefit Plan Audits launches--second of three Audit Quality Centers for CPA firms.(news update)(Employee Benefit Plan Audit Quality Center)(Governing Council)
April 1, 2004... Since its launch last month, the AICPA's Employee Benefit Plan Audit Quality Center has been accepting applications from CPA firms (go to www.aicpa.org/ebpaqc/homepage. htm). It is the second of three audit quality centers to be launched...

Report of Nominations Committee available.(Brief Article)
April 1, 2004... The full "Report of the Nominations Committee" will be available online (www.aicpa.org/info/committees/2004nom inat.asp) in mid-Apr. If the AICPA has your e-mail address on file, you will be sent an e-mail announcement with a live link to the...

AICPA Committee application process begins; open until May 1.(Brief Article)
April 1, 2004... Applications are now being accepted for the next committee year (Oct. 2004--Oct. 2005). Many openings are still available. If you are interested in contributing to the profession and networking with your peers, then consider applying. Go online...

Accredited in business valuation exam to be offered in July.(Accredited in Business Valuation Exam)(Brief Article)
April 1, 2004... The AICPA's Accredited in Business Valuation credential was designed specifically to help CPAs affirm their valuation expertise and provide them with a competitive edge in the marketplace. ABV is the only valuation credential recognized and...

How to request copyright permission from AICPA.(American Institute of Certified Public Accountants)(Copyright Permission)(Brief Article)
April 1, 2004... Members and others who wish to reproduce content from any AICPA publication (or Web site) must first obtain copyright permission from the Institute. The procedure for requesting permission is to first display our Web site homepage on the...

Department of Commerce looking for CPAs.(Brief Article)
April 1, 2004... 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...

OCC seeks accounting Professionals for Fellowship Program.(Brief Article)
April 1, 2004... The Office of the Comptroller of the Currency is currently accepting applications for its Professional Accounting Fellowship program. The Accounting Fellow position is designed for an accountant who is currently a manager and has five or more...

Public meeting notices.(Public Notice)
April 1, 2004... Accounting and Review Services Committee: Apr. 19-20, New York Accounting Standards Executive Committee: Apr. 27-28, New York Peer Review Board: Apr. 26-27, New York

Chair's corner.
April 1, 2004... As I reflect on the challenges and opportunities facing our profession, one issue in particular comes to mind. We have an important responsibility to find and develop the next generation of CPAs and the next generation of those who will teach...

SEC extends compliance deadlines regarding internal control; PCAOB approves audit standard for internal control.(regulatory matters)(Brief Article)
April 1, 2004... The Securities and Exchange Commission (www.sec.gov) in Feb. extended the compliance dates for its rules regarding Section 404 of the Sarbanes-Oxley Act. These rules require a company to include in annual reports a report by management on the...

SEC releases staff accounting bulletin on derivatives.(regulatory matters)(Brief Article)
April 1, 2004... Last month the Securities and Exchange Commission released Staff Accounting Bulletin No. 105, "Loan Commitments Accounted for as Derivative Instruments." The SAB provides interpretive guidance that registrants should consider when recognizing...

AICPA pulls out all the stops to recruit the best and brightest.(New Accountant magazine)(Minority Initiatives Committee)
April 1, 2004... Ensuring the continual flow of qualified CPAs into the profession is one of the most important missions of the AICPA. In fact, it has been deemed one of the four major areas for our communications outreach efforts (the others are financial...

AICPA Webcasts offer high-quality CPE at your desktop.(Continuing Professional Education)(Tax Forum)(CFO Roundtable Webcast Series)
April 1, 2004... Keep informed of the latest professional developments and earn CPE credit right from your desktop. AICPA Webcasts are high-quality, 2-hour CPE programs that bring you the latest topics from the profession's leading experts. Broadcast live, they...

IRS Tax Talk Today program previews three upcoming e-services.(Brief Article)
April 1, 2004... In a live Webcast held on Mar. 9, the Internal Revenue Service unveiled plans to add three new incentives to its growing suite of e-services products. Disclosure authorization, electronic account resolution and transcript delivery were...

AICPA comments on Bush Administration's proposals on retirement plans.(legislation)(Brief Article)
April 1, 2004... The AICPA provided comments on President Bush's Fiscal Year 2005 budget proposal as it pertains to efforts to simplify the employer-provided retirement plan rules. While applauding the effort in general, the AICPA expressed its concern that the...

Disciplinary actions.
April 1, 2004... 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:...

AICPA volunteers again staff USA Today tax chats.
April 1, 2004... AICPA members again this year were among the panel of tax experts assembled by USA Today to answer questions on weekly tax chats hosted by the paper on its Web site. A big "thank you" from the AICPA to all the CPAs who volunteered. The...

New Trust Services privacy principle and criteria released.(Privacy Framework)(Brief Article)
April 1, 2004... The AICPA and the Canadian Institute of Chartered Accountants have issued the AICPA/CICA Privacy Framework, including the AICPA/CICA Trust Services Privacy Principle and Criteria. The AICPA/CICA Privacy Framework provides criteria and related...

Process-Based Accounting: Revolutionizing Management Decision Making.(CPE news)(Process-Based Accounting: Revolutionizing Management Decision Making )(CPE self-study course)(Brief Article)
April 1, 2004... Process-Based Accounting: Revolutionizing Management Decision Making (No. 731391CPA04). Find out how to implement a "forward-looking" accounting system to gain a competitive advantage with the new edition of this AICPA CPE self-study course....

Analytical Procedures for Small Business Engagements.(CPE news)(analytical procedures)(Brief Article)
April 1, 2004... Analytical Procedures for Small Business Engagements (No. 730509CPA04). Gain practical guidance in the application of analytical procedures throughout the audit process with special attention to small business audit engagements in this new...

Workpapers, Forms and Checklists: Avoid the Documentation Trap.(CPE news)(CPE self-study course)(Brief Article)
April 1, 2004... Workpapers, Forms and Checklists: Avoid the Documentation Trap (No. 731860CPA04). This new CPE self-study course helps you develop efficient workpaper techniques and comply with documentation requirements. Prerequisite: experience in accounting...

Professional Ethics: the AICPA's Comprehensive Course.(CPE news)
April 1, 2004... Professional Ethics: The AICPA's Comprehensive Course (Text--No. 732304CPA04; CD-ROM--No. 738320hsCPA04). This revised self-study course covers the most up-to-date AICPA and independence rules, including those adopted under the Sarbanes-Oxley...

CPA exam candidates can now book date for computerized test.(Brief Article)
April 1, 2004... Candidates preparing to sit for the computerized Uniform CPA Examination were able to schedule appointments beginning last month. To reserve a seat, candidates must have applied to a state board of accountancy or a designated agent and received...