CPA Letter articles from December 2000

CPA Letter archives from December 2000

SEC Votes on Auditor Independence Rule; Small Firms Protected.(Securities and Exchange Commission)(Brief Article)(Statistical Data Included)
December 1, 2000... Commissioners of the Securities and Exchange Commission voted unanimously Nov. 15 on a compromise to its proposed rule on auditor independence that appears to address many of the AICPA's major professional and public interest concerns (The CPA...

Fall Council Resolution Moves Global Credential Initiative Forward.(Brief Article)
December 1, 2000... With the governing Council's passage of a resolution authorizing the AICPA's continued participation in the development of the new global business credential (The CPA Letter, Nov.), plans now are under way for the AICPA and state CPA societies...

Send Us Your E-Mail Address.
December 1, 2000... If you have not submitted your e-mail address to us or have changed it recently, send your e-mail address to memsat@aicpa.org. Indicate "e-mail address update" in the subject header field to help us process the submissions more efficiently. Be...

HUD Announces Changes to Program Reporting and Audit Requirements.(Department of Housing and Urban Development)(Brief Article)
December 1, 2000... The U.S. Department of Housing and Urban Development has announced plans to change program reporting and audit requirements for multifamily program participants. Effective for project fiscal years ending on Dec. 31, 2000, and thereafter, the...

Volunteers Needed for 2001 USA Today Tax Hotline.(Brief Article)
December 1, 2000... CPA volunteers are needed to staff the Mar. 1, 2001, (Thursday) USA Today tax hotline. Each year the national newspaper and the AICPA team up for a one-day tax hotline that offers readers an opportunity to get immediate answers from the tax...

SEC Seeks Accounting Fellows.(Securities and Exchange Commission)(Brief Article)
December 1, 2000... The Securities and Exchange Commission's Office of the Chief Accountant is accepting applications for two Professional Accounting Fellow positions. This highly successful program is designed to provide outstanding opportunities for personal...

SSARS No. 8 Amending SSARS No. 1 Issued.(Statements on Standards for Accounting and Review Services)(Brief Article)
December 1, 2000... The Accounting and Review Services Committee has issued Statement on Standards for Accounting and Review Services No. 8, Amendment to Statement on Standards for Accounting and Review Services No. 1, Compilation and Review of Financial...

Exposure Draft on Unconsolidated Real Estate Investments Released.(Accounting for Investors' Interests in Unconsolidated Real Estate Investments issued by Accounting Standards Executive Committee)(Brief Article)
December 1, 2000... An exposure draft of a proposed statement of position, Accounting for Investors' Interests in Unconsolidated Real Estate Investments, has been issued by the Accounting Standards Executive Committee. The proposed SOP would provide guidance on...

Practice Aid for SSARS No. 8 Developed.(Statements on Standards for Accounting and Review Services)(Brief Article)
December 1, 2000... The AICPA has developed a companion Compilation and Review Alert titled, Practical Guidance for Implementing SSARS No. 8, How to Understand and Apply the Amendments to SSARS No. 1, Compilation and Review of Financial Statements (No....

ISB Issues Exposure Draft on Conceptual Framework for Auditor Independence.(Independence Standards Board)(Brief Article)
December 1, 2000... The Independence Standards Board has issued an exposure draft of a proposed conceptual framework for auditor independence (ED 00-1, Proposed Statement of Independence Concepts: A Conceptual Framework for Auditor Independence). The proposed...

Chair's corner.(Uniform Accountancy Act)(Brief Article)
December 1, 2000... I am devoting this column to an issue that you will hear me talk about often during my year as chair -- implementation of the core provisions of the Uniform Accountancy Act (UAA), and specifically, the concept of "substantial equivalency." As...

AICPA ... Where to Turn.(American Institute of Certified Public Accountants directory)(Directory)
December 1, 2000... All address and job change information should be mailed, faxed or e-mailed to the Member Satisfaction Center in New Jersey. (The CPA Letter and Journal of Accountancy will automatically be updated. Indicate any other AICPA subscriptions that...

disciplinary actions.(accountants removed or suspended from membership of American Institute of Certified Public Accountants)(Brief Article)
December 1, 2000... 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:...

Three New WebTrust Standards Debut.(issued by American Institute of Certified Public Accountants)(Brief Article)
December 1, 2000... As part of a continuing effort to make the WebTrust program more responsive to the electronic commerce marketplace for licensees and their clients, three new WebTrust standards have been released for exposure: the WebTrust Security Principles...

Alert Regarding Tax Planning Activities.(American Institute of Certified Public Accountants issues guidance notes)(Brief Article)
December 1, 2000... Certain recordkeeping and filing requirements imposed by temporary regulations issued earlier this year may apply to you and/or your clients as a result of your tax planning activities. These temporary regulations are commonly referred to as...

Tax Season Volunteers Make a Difference and Are Needed.(volunteer accountants needed)(Brief Article)
December 1, 2000... For more than a century, lawyers and doctors have enhanced their professional lives and distinguished themselves by giving their services to the needy at no charge. Each individual CPA also can participate in a similar way. Each of us can make...

Changes in Eligibility Requirements for Personal Financial Specialist Credential Open Up Program to More Members.(guidelines developed by Personal Financial Specialist Credential Committee and Personal Financial Planner Executive Committee)(National Accreditation Commission)(Brief Article)
December 1, 2000... Next month a new set of guidelines -- developed by the PFS Credential Committee and the PFP Executive Committee under the auspices of the National Accreditation Commission -- will take effect for earning the AICPA's Personal Financial...