CPA Letter articles from April 2005

CPA Letter archives from April 2005

Task force recommends pursuing changes in GAAP for private companies.
April 1, 2005... After conducting extensive research to ensure the opinions of all constituents were heard, the Private Company Financial Reporting Task Force has unanimously recommended that a process be established to evaluate potential changes to generally...

Business and promotional merchandise in accessories collection proudly sport "CPA" logo.
April 1, 2005... 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...

Members encouraged to answer online poll on electronic CPA Letter.
April 1, 2005... In 2003, the AICPA revised the format and frequency of The CPA Letter to improve member communications. We began publishing the newsletter 12 times a year instead of 10, and put the full text online instead of an abbreviated issue. Six of the...

Report of nominations committee to be available.
April 1, 2005... The full "Report of the Nominations Committee" will be available online (www.aicpa.org/info/committees/2005nominat.asp) in 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 report...

AICPA volunteer vacancies--applications due May 1.
April 1, 2005... There are currently 83 AICPA volunteer groups (committees, boards, panels and centers) that are seeking new volunteers. The number and variety of AICPA volunteer groups continues to change from year to year, and those who have not visited the...

CPAs needed to write, review parts of CPA exam.
April 1, 2005... The AICPA Examinations Team is seeking CPA volunteers to help write and review auditing simulations (case studies) as well as written communication prompts for the CPA Examination. Volunteers for the auditing simulation assignments are needed...

Public meeting notices.(Calendar)
April 1, 2005... Accounting and Review Services Committee: June 27-28, New York Accounting Standards Executive Committee: Apr. 19-20, New York Auditing Standards Board: Apr. 26-28, New York Council: May 22-24, Washington, D.C. Peer Review Board: May 2-3, San...

Nonattest services rule revised based on member feedback.(Professional Ethics Executive Committee members)
April 1, 2005... Revisions to Interpretation 101-3--Performance of Nonattest Services recently were adopted to provide clarification on the applicability and intent of the rule and ensure its continued effectiveness in promoting independence when a member...

Exposure drafts issued; auditor alert on Medicare/Medicaid cost reports.
April 1, 2005... The Auditing Standards Board has released for: exposure a proposed auditing standard and a proposed attestation standard to define the terminology the ASB will use in describing the degrees of responsibility that professional requirements...

State CPA societies enthusiastically participate in Financial Literacy efforts.
April 1, 2005... State CPA societies jumped right into the profession's nationwide 360 Degrees of Financial Literacy initiative with their own supporting efforts. An unprecedented 81% of the societies have developed new programs or enhanced related efforts, and...

AICPA releases Social Security study to lawmakers, media.
April 1, 2005... As reported in the Feb. CPA Letter, the AICPA has updated its 1998 study on Social Security to reflect current issues. The new report, Understanding Social Security Reform: The Issues and Alternatives, was distributed last month to members of...

Chair's corner.
April 1, 2005... In my first CPA Letter column back in Nov. 2004, I mentioned how important it is for our professional body, the AICPA, to be in regular contact with the many regulators and quasi-regulators who have an interest in how we carry out our public...

Web site for Employee Benefit Plan Audit Quality Center enhanced.(disciplinary actions)
April 1, 2005... The AICPA Employee Benefit Plan Audit Quality Center, a firm-based, voluntary membership center designed to promote the importance of quality audits of employee benefit plans, recently launched an enhanced Web site (www.aicpa.org/EBPAQC) for...

Information security: Critical Guidance for CPAs in Public Practice and Industry.(CPE news)
April 1, 2005... Information security: Critical Guidance for CPAs in Public Practice and Industry (No. 732450CPA04). Find out about security risks for systems developed with new technology and the controls required to secure these systems. Obtain the guidance...

Internal Control and IT: Reliable Reporting and Fraud Prevention.(CPE news)
April 1, 2005... Internal Control and IT: Reliable Reporting and Fraud Prevention (No. 732550CPA04). Build your information systems confidence with this overview of the key auditing standards, con ceptual frameworks, IT infrastructures and auditing issues you...

Compilation and Review Risk Alert Strategic Briefing.(CPE news)(Brief article)
April 1, 2005... Compilation and Review Risk Alert Strategic Briefing (No. 780024hsCPA04). Current issues affecting your compilation and review engagements are covered in this new CD-ROM self-study course based on a recent AICPA Webcast. Recommended CPE credit...

Adviser's guide to Tax Planning Strategies for Retirement Savings.(now available)
April 1, 2005... Adviser's Guide to Tax Planning Strategies for Retirement Savings (No. 091017CPA04). Learn to determine your client's financial needs in retirement and calculate the annual retirement savings necessary to meet those future needs. Derived from...

XBRL momentum continues to build.(eXtensible Business Reporting Language)(Brief article)
April 1, 2005... On Mar. 16, the Securities and Exchange Commission's final rule for the eXtensible Business Reporting Language (XBRL) went into effect (www.sec.gov/rules/final/33-8529.htm). The voluntary program is intended to help the SEC evaluate the...

Happenings at Board of Directors' February meeting.(American Institute of Certified Public Accountants)
April 1, 2005... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Feb. 10-11 : * A report recommending changes to private company financial reporting was presented and discussed (see...