CPA Letter articles from January 2005

CPA Letter archives from January 2005

Members' comments sought on increased transparency in peer review.(news update)(www.aicpa.org/transparency/index.htm)(Brief article)
January 1, 2005... As reported in the Nov. and Sept. issues of The CPA Letter, the AICPA, at the direction of its governing Council, began a member awareness effort regarding increased transparency of peer review results. Council had voted at its May 2004 meeting...

Need help implementing new rules on Performing Nonattest services? Guidance now available on documentation, competency requirements.(news update)
January 1, 2005... For the past several months, members have been inquiring about how to comply with new rules under Ethics Interpretation 101-3, Performance of Nonattest Services. Providing information and resources in return has been an AICPA priority. In...

Application process for committee service begins; deadline May 1.
January 1, 2005... Applications are now being taken for the next committee year (Oct. 2005-Oct. 2006). If you are interested in contributing to the profession and networking with your peers, then consider applying. Go to http://voluntcers.aicpa.org to complete a...

User feedback spurs new online capabilities at CPA2Biz.com.
January 1, 2005... Based on direct customer feedback, CPA2Biz, Inc., the marketing and technology provider of the AICPA, announced dynamic changes to the look and functionality of its Web site. Visit www.cpa2biz.com to see the redesigned homepage showcasing the...

Enhanced web site launched for center for public company audit firms.
January 1, 2005... Last month an enhanced Web site for the Center for Public Company Audit Firms was launched. The information on the Web site (www.aicpa.org/CPCAF) now is organized around a home page and five core areas: Resources, Community, Events, Membership...

Members offered airline, car rental, Amtrak discounts.
January 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...

Public meeting notices.(Calendar)
January 1, 2005... Accounting Standards Executive Committee: Jan. 25-26, New York Auditing Standards Board: Feb. 1-3, San Diego Professional Ethics Executive Committee: Jan. 26-27, New York Tax Executive Committee: Jan. 19-20, San Diego

Two new publications on PCAOB Auditing Standard No. 2 Released.(accounting & auditing news)
January 1, 2005... In June 2004, the Securities and Exchange Commission approved the Public Company Accounting Oversight Board's auditing standard on internal control--PCAOB Auditing Standard No. 2, An Audit of Internal Control Over Financial Reporting Performed...

FASB issues Statement on Inventory Costs.(accounting & auditing news)
January 1, 2005... The Financial Accounting Standards Board has issued FASB Statement No. 151, Inventory Costs, an amendment of ARB No. 43, Chapter 4. According to the FASB, the amendments made by Statement 151 will improve financial reporting by clarifying that...

GASB releases proposed statement on Accounting for Termination Benefits.(accounting & auditing news)
January 1, 2005... The Governmental Accounting Standards Board has published an exposure draft of a statement, Accounting for Termination Benefits, that would establish accounting guidance for state and local governmental employers regarding benefits provided to...

Statement of Position Issued on Time-Share Transactions.(accounting & auditing news)(Statement of Position 04-2, Accounting for Real Estate Time-Sharing Transactions)(Brief article)
January 1, 2005... Statement of Position 04-2, Accounting for Real Estate Time-Sharing Transactions (No. 014942CPA01), has been issued by the Accounting Standards Executive Committee. The SOP is effective for financial statements issued for fiscal years beginning...

AICPA anveils 2005 Top Technologies list: information security no. 1 again.(technology)
January 1, 2005... America's CPA technologists remain convinced that information security is the country's number one technology concern, according to the AICPA's 2005 Top Technologies survey in which more than 300 CPAs participated. The new list marks the third...

AICPA, Virginia Society of CPAs produce 2005 Financial Fitness Calendar.(American Institute of Certified Public Accountants)(Certified Public Accountant )(Calendar)
January 1, 2005... In a joint project to promote fiscal health, the Virginia Society of CPAs and the AICPA have developed the 2005 Financial Fitness Calendar. The four-color, 12-month calendar is designed as a resource for citizens and clients as part of the...

Disciplinary actions.
January 1, 2005... 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 resolved by settlement agreement under the Joint Ethics Enforcement Program....

AICPA recommends top three goals for IRS Oversight Board.(tax info)
January 1, 2005... The AICPA recommended that the top three tax administration goals on which the IRS Oversight Board should concentrate in 2005 are improving taxpayer service, enhancing enforcement of the tax law, and modernizing the IRS through its people,...

Tax Talk Today[R] Webcast gives advice on preparing for tax season.(tax info)
January 1, 2005... "'Get Ready for Filing Season 2005: Part One. Individuals" was the theme of the Tax Talk Today[R] Webcast that aired on Dec. 14. The program brought together all the tax law changes and Internal Revenue Service processing issues that will...

PCAOB Professional Standards and Related Rules (including SEC-Approved Releases and PCAOB Staff Q&A Guidance).(now available)
January 1, 2005... PCAOB Professional Standards and Related Rules (including SEC-Approved Releases and PCAOB Staff Q&A Guidance) (No. 057195CPA01; $84 member/$105 non-member) has been developed by the AICPA to supply auditors of public companies with a workable,...

Measuring Damages Involving Individuals--A CPA's Litigation Service Guide with Case Studies.(now available)
January 1, 2005... Measuring Damages Involving Individuals--A CPA's Litigation Service Guide with Case Studies (No. 056506CPA01). This new expert toolkit takes you through the entire process of measuring and calculating damages. The guide along with the...

Promoting Your Talent: A Guidebook for Women and Their Firms, Second Edition: New Information for Women in Business and Industry.(now available)
January 1, 2005... Promoting Your Talent: A Guidebook for Women and Their Firms, Second Edition: New Information for Women in Business and Industry by Nancy R. Baldiga, CPA (No. 872566CPA01). For this book issued by the Work/Life and Women's Initiatives Executive...

Establishing and Maintaining a System of Quality Control for a CPA Firm's Accounting and Auditing Practice.(now available)
January 1, 2005... Establishing and Maintaining a System of Quality Control for a CPA Firm's Accounting and Auditing Practice (No. 006623CPA01) guides firms through the process of establishing and maintaining quality control systems applicable to their audit and...

2004 Tax Acts: Making Them Work For You.(CPE news)(Brief article)
January 1, 2005... 2004 Tax Acts: Making Them Work For You (No. 732780CPA01). Find practical tax planning opportunities created by this important tax legislation with a focus on the small business tax issues. Prerequisite: None. Recommended CPE credit (based on a...

AICPA's Tax Update for Controllers.(CPE news)
January 1, 2005... AICPA's Tax Update for Controllers (No. 732500CPA01). Get the latest guidance on tax developments which impact your company. Recent tax legislation, regulations, cases and rulings are covered from the controller's perspective. Stay on top of...

AICPA's Federal Tax Update: Includes 2004 Tax Acts.(CPE news)(American Institute of Certified Public Accountants)(Brief article)
January 1, 2005... AICPA's Federal Tax Update: Includes 2004 Tax Acts (No. 731133CPA01). The new 2004-2005 edition of this popular CPE self-study course by Andy Biebl and Bob Ranweiler presents planning strategies and compliance guidance. Prerequisite:...

2004 Employee Benefit Plans Strategic Briefing.(CPE news)
January 1, 2005... 2004 Employee Benefit Plans Strategic Briefing (No. 780016hsCPA01). Current industry developments and emerging practice issues are covered, including current areas of concern to the DOL and issues with the Form 5500. Prerequisite: Basic...

Accounting ranks #1 as college major.
January 1, 2005... According to both AccountingWeb.com and the Job Outlook 2005 survey, conducted by the National Association of Colleges and Employers, accounting is now the number one major on college campuses. Academicians say the numerous corporate accounting...

Help AICPA Benevolent Fund help your colleagues.
January 1, 2005... The AICPA Benevolent Fund was started in the 1930s to assist members and their families as they struggled through various medical and financial hardships. It represents a way for CPAs to support those who have gone before them in the profession...