CPA Letter articles from August 2005

CPA Letter archives from August 2005

Virtues of volunteering.(news update)
August 1, 2005... When accepting the 2004 AICPA Public Service Award at May's meeting of the governing Council, Kathryn A. Forbes gave a speech extolling the virtues of volunteering. To hear her inspirational address, visit www.aicpa.org/stream/index.htm#vision....

AICPA endorses bill to mow small businesses to extend benefits to employees.(legislation)
August 1, 2005... The AICPA recently wrote Senator Olympia Snowe (R-ME) commending her for introducing S. 723, the SIMPLE Cafeteria Plan Act of 2005, which would allow small businesses to provide nontaxable benefits, such as flexible spending accounts, to their...

AICPA wins 2005 Associations Advance America Awards.
August 1, 2005... For the second consecutive year, the AIC PA has received the Summit Award from the American Society of Association Executives' Associations Advance America Awards. This year's honor went to the 360 Degrees of Financial Literacy effort, which,...

Toolkit released for audit committees of not-for-profits.(The Audit Committee Toolkit: Not-for-Profit Organizations)(American Institute of Certified Public Accountants )(Brief article)
August 1, 2005... Audit committees of not-for-profits can now find a comprehensive set of best practices to help them discharge their responsibilities appropriately. The Audit Committee Toolkit: Not-for-Profit Organizations was created by a task force of...

PCAOB releases guidance for attest engagements regarding XBRL.
August 1, 2005... The Public Company Accounting Oversight Board released staff questions and answers related to attest engagements regarding XBRI, (eXtensible Business Reporting Language) data furnished under the Securities and Exchange Commission's XBRL...

Members offered Airline, Car Rental, Amtrak discounts.
August 1, 2005... The AICPA has a special agreement with Carlson Wagonlit Travel--The Leaders Group, to assist you with travel arrangements (call 800/345-5540) when attending eligible AICPA conferences. If you prefer to make your own travel plans, mention the...

How to obtain permission to reprint CPA letter articles.
August 1, 2005... Be advised that our authorized permissions agent, Copyright Clearance Center, can provide you with quick permission for the reproduction of articles from The CPA Letter. The CCC will always advise you of the required permission fee before...

Public meeting notices.(disciplinary actions)(Calendar)
August 1, 2005... Accounting and Review Services Committee: Sept. 20-21, New York As a result of an investigation of alleged violations of the Codes of Professional Conduct of the AICPA and/or state CPA societies, the following ethics case has been...

IASB, FASB issue joint proposals on business combinations.(accounting & auditing news)
August 1, 2005... The International Accounting Standards Board and the Financial Accounting Standards Board have each published an exposure draft containing joint proposals to improve and align the accounting for business combinations. The proposals include a...

USDA issues revised audit guidance for Rural Rental Housing Program.
August 1, 2005... The U.S. Department of Agriculture Office of Inspector General has issued a new audit program for its Rural Rental Housing (RRH) Program. The USDA's previous guidance for this program was revised to address the OIG's concerns about potential...

Exposure draft issued on code of conduct revisions.(AICPA Code of Professional Conduct)(American Institute of Certified Public Accountants )(Brief article)
August 1, 2005... The AICPA Professional Ethics Executive Committee is proposing revisions in two areas of the AICPA Code of Professional Conduct. One is a proposal for two new ethics rulings that would provide guidance on whether or not a member's objectivity...

AICPA comments to IRS on spousal election rights, charitable remainder trusts.(tax info)
August 1, 2005... In a letter to the Internal Revenue Service, the AICPA expressed its concerns about Rev. Proc. 2005-24, which provides guidance on spousal election rights and charitable remainder trusts under Internal Revenue Code section 664. Specifically,...

Webcast addressed deferred compensation plans; archived viewing available.(tax info)(Discussion)(Brief article)
August 1, 2005... "What You and Your Clients Need to Know about Deferred Comp Plans" was the topic of July's Tax Talk Today[R], a monthly Webcast aimed at educating tax and payroll professionals on contemporary and complex tax issues. The expert panelists...