CPA Letter articles from December 2005

CPA Letter archives from December 2005

Happenings at October governing Council meeting.(news update)(appointments and awards)
December 1, 2005... Here are some of the more significant actions and events that took place at the governing Council meeting Oct. 24-25: * Leslie A. Murphy of Michigan was elected as chair of the AICPA Board of Directors for 2005-2006 and Jimmy Williamson of...

AICPA to relocate some operations to North Carolina.
December 1, 2005... To lower costs and enhance member services, the AICPA has announced that it will move selected operations to Durham, N.C. The relocation is expected to position the AICPA to continue offering members a rich pool of services while allowing...

AICPA, Ajilon finance announce 2005 Hall of Fame winners.
December 1, 2005... The AICPA has announced the three inductees into the 2005 AICPA Business and Industry Hall of Fame, an annual event sponsored by Ajilon Finance, a leading accounting and financial staffing services company. The AICPA Business & Industry...

AICPA volunteers needed--applications accepted until May 1.
December 1, 2005... If you are interested in contributing to the profession and networking with your peers, then consider applying for one of the AICPA's nearly 90 volunteer groups (committees, boards, panels and centers) seeking new volunteers. The particular...

AICPA multimedia team wins awards for excellence.
December 1, 2005... Demonstrating the strength of the AICPA's multimedia program (CPE videos, Web casts, internal- and member-oriented videos), the AICPA's Multimedia Group recently was awarded two Gold MarCom Creative Awards. The MarCom Creative Awards honor...

Most CPA firms lack formal staffing programs; guidance offered for smaller firms.
December 1, 2005... While attracting and retaining staff remains the biggest challenge they face, few CPA firms have formal, documented programs that would help them achieve this goal, according to a recent survey by the AICPA's Private Companies Practice Section....

Public meeting notices.(disciplinary actions)(Nanette K. Miller and Russell Price removed from American Institute of Certified Public Accountants membership)(Brief article)
December 1, 2005... Accounting Standards Executive Committee: Jan. 10-11, Las Vegas Peer Review Board: Jan. 9, Huntington Beach, Calif. Tax Executive Committee: Feb. 1-2, San Diego In lieu of an investigation of alleged violations of the Codes of...

AICPA women's summit held in October; new chair Leslie Murphy chairs event.
December 1, 2005... "Helping Women Professionals Succeed" was the theme of the first AICPA Women's Summit, which took place in Oct. and was chaired by the Institute's new chair of the board, Leslie Murphy. Women are entering the accounting profession in increasing...

Financial literacy campaign's life stage kits completed.
December 1, 2005... The Couples & Marriage, Home Ownership, Life Crisis and Retirement CPA mobilization kits are now available for download from the CPA Financial Literacy Resource Center. Mobilization kits for each life stage of the 360 Degrees of Financial...

AICPA joins forces with premier international management accountants organization.
December 1, 2005... The AICPA and the United Kingdom's Chartered Institute of Management Accountants have agreed to collaborate on developing high-quality products and services for their members. This will allow the AICPA to offer additional professional resources...

Survey being conducted on independence in compilation engagements.(according & auditing news)(Survey)(Brief article)
December 1, 2005... Due to the evolving complexity of the independence standards as codified in the AICPA Code of Professional Conduct, the Accounting and Review Services Committee is seeking input from CPAs, their clients and third-party users of compiled...

Members asked about global business-to-business e-commerce audits.(according & auditing news)
December 1, 2005... A Canadian senior academic and audit researcher is requesting AICPA members involved in business-to-business e-commerce audit and assurance services participate in a global research study sponsored by the University of Windsor in Ontario. The...

AICPA releases report on tax reform alternatives.(tax info)
December 1, 2005... In an effort to serve as a resource in the tax reform debate, the AICPA has released Understanding Tax Reform: A Guide to 21st Century Alternatives. The report offers an unbiased review of tax reform proposals and discusses the issues and...

Year-end deadline for nonqualified deferred compensation plans.(tax info)
December 1, 2005... To retain tax-deferred status under new section 409A, nonqualified deferred compensation plans must take certain steps by Dec. 31. According to the 240-page proposed regs (www.treas.gov/press/releases/reports/reg15808004.pdf) issued Sept. 29,...

Tax division gives Arthur J. Dixon award to Paul Farber.(tax info)
December 1, 2005... Paul Farber is this year's recipient of the AICPA Tax Division's Arthur J. Dixon Memorial Award, the highest award given by the accounting profession in the area of taxation. Farber, a CPA and an attorney, is a retired partner of Ernst & Young,...

Tax division recognized by IRS for assistance to small business, self-employed.(tax info)
December 1, 2005... At the National CPA/Internal Revenue Service Tax Issues meeting in Nov., Kevin Brown, Commissioner of the Small Business/Self Employed Operating Division, presented a certificate of appreciation to the AICPA's Tax Division. The certificate...

Governmental Accounting and Reporting: Putting it All Together.
December 1, 2005... Governmental Accounting and Reporting: Putting it All Together (No. 732800CPA12). Learn how to navigate the complexities of government accounting and reporting in the post-GASB No. 34 environment. Prerequisite: Knowledge of governmental...

The AMT for Individuals: Strategies to Escape its Reach.(Brief article)
December 1, 2005... The AMT for Individuals: Strategies to Escape its Reach (DVD--No. 181463CPA12; VHS--No. 181462CPA12). Presenter Sidney Kess leads a team of expert panelists in reviewing ways practitioners can advise clients on tax planning strategies to escape...

Employee Benefit Plans Strategic Briefing, 2005-2006.
December 1, 2005... Employee Benefit Plans Strategic Briefing, 2005-2006 (No. 780043hsCPA12). Expert panelists address current industry developments and emerging practice issues in this new self-study course based on a recent AICPA Web cast. Prerequisite: Basic...

Fair Pay Rules Now in Place: What Every CPA Needs to Know.
December 1, 2005... Fair Pay Rules Now in Place: What Every CPA Needs To Know (No. 732940CPA12). Gain a solid understanding of the federal wage and hour laws including the newly enacted Fair Pay rules. Prerequisite: None. Recommended CPE credit (based on a 50-min....

State & Local Government Strategic Briefing, 2005-2006.
December 1, 2005... State & Local Government Strategic Briefing, 2005-2006 (No. 780041hsCPA12). This course addresses recently issued GASB pronouncements impacting both preparers and auditors and features high-lights of recently issued generally accepted auditing...

Enhanced Business Reporting Consortium releases framework to promote greater transparency in corporate reporting.(technology)
December 1, 2005... The Enhanced Business Reporting Consortium released for public comment its first version of a comprehensive information framework to help companies better communicate with their investors and other key audiences about business strategy and...

XBRL: changing paradigms, presenting opportunities.(technology)
December 1, 2005... XBRL, the Extensible Business Reporting Language, is an XML-based language used to describe business reporting information in internal financial reporting and for quarterly and annual financial and regulatory illreports ings. The AICPA is the...

AICPA supports COSO proposals on small company compliance with SOX 404.
December 1, 2005... The AICPA, as a member organization of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), publicly stated its support for draft guidance issued recently to assist small public companies in complying with the Section...

Management Override of Internal Control over Financial Reporting addressed.(Brief article)
December 1, 2005... The AICPA Antifraud Programs and Controls Task Force issued a document entitled Management Override of Internal Controls: The Achilles' Heel of Fraud Prevention--The Audit Committee and Oversight of Financial Reporting. The document offers...