CPA Letter articles from June 2003

CPA Letter archives from June 2003

Council approves proposals to improve timeliness, transparency of disciplinary process; members to vote on the two proposals that require bylaw amendments.(American Institute of Certified Public Accountants. Professional Ethics Executive Committee)
June 1, 2003... At its spring meeting, the AICPA Council approved three proposals that were submitted by the Professional Ethics Executive Committee (PEEC) to improve the timeliness and transparency of the AICPA's disciplinary process. Two of the proposals...

Member dues bills being mailed this month.(Brief Article)
June 1, 2003... Members' dues statements covering Aug. 1, 2003, to July 31, 2004, will be mailed later this month. For your convenience, online payment with a credit card is available via www.cpa2biz.com/aicpa_membership. Checks also are accepted; use the...

AICPA InfoBytes, recognized by Accounting Today, offers free trial.(American Institute of Certified Public Accountants online courses)(Brief Article)
June 1, 2003... The AICPA has announced a "no charge test-drive" for its popular online learning library, AICPA InfoBytes. Free trial * participants are able to search and browse the entire library of courseware and earn up to 2 credits of free CPE. ...

November 2002 CPA Exam top scorers announced.(Brief Article)
June 1, 2003... The three CPA candidates who attained the highest combined grades on all four sections of the Nov. 2002 CPA Exam have been announced. Winning the Elijah Watts Sells Award Gold Medal for the highest grade among the 59,000 candidates who took the...

How to request copyright permission from AICPA.(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2003... Members and others who wish to reproduce content from any AICPA publication (or Web site) must first obtain copyright permission from the Institute. The procedure for requesting permission is to first display our Web site homepage on the...

Send us your e-mail address: receive "AICPA News Update" each week, live link for CPA Letter each month.(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2003... Members for whom the AICPA has e-mail addresses automatically will receive the weekly "AICPA News Update" on important professional news and developments as well as be sent the live link for each issue of The CPA Letter immediately after it's...

Public meeting notices.(Brief Article)(Calendar)
June 1, 2003... Accounting & Review Services Committee: July 28-29, New York Accounting Standards Executive Committee: July 22-23, San Francisco; Sept. 9-10, New York Auditing Standards Board: July 29-31, New York

Small business--where fraud can and does occur.
June 1, 2003... While the headlines have been filled with news of financial scandals at giant corporations like Enron, Worldcom and Tyco, CPAs across the country know that fraud also can occur in a small business. "Recent events have served as a wake-up call...

AICPA, other organizations gather for work/life summit.(American Institute of Certified Public Accountants, American Society of Women Accountants and American Women's Society of Certified Public Accountants)(Brief Article)
June 1, 2003... Summit 2003: Career/Life in the Balance was held at the AICPA last month. A joint effort of the American Society of Women Accountants, the American Women's Society of Certified Public Accountants and the Institute, the conference focused on the...

2003 OMB Compliance Supplement issued.(U.S. Office of Management and Budget)(Brief Article)
June 1, 2003... The U.S. Office of Management and Budget issued its 2003 Compliance Supplement in Mar. The supplement, which is updated each year, identifies important compliance requirements that the federal government expects to be considered as part of an...

Annual report of AICPA disciplinary activity.(American Institute of Certified Public Accountants, 2002)
June 1, 2003... January 1--December 31, 2002 The following is a statistical report of the disciplinary activity of the AICPA, including cases investigated by the Professional Ethics Division, cases handled by the Joint Trial Board Division and actions...

Disciplinary actions.(Brief Article)
June 1, 2003... As a result of investigations of alleged violations of the Codes 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....

Special feature: benefits of membership in the AICPA.(American Institute of Certified Public Accountants)
June 1, 2003... Throughout the year, the Institute's leadership, staff and member committees are hard at work on projects and programs that will benefit our members and the profession as a whole. Not only do we take an active role in shaping initiatives that...

Auditing Standards Board issues auditing interpretations. (accounting & auditing news).(Brief Article)
June 1, 2003... The Auditing Standards Board issued two new interpretations of auditing standards at its meeting on Apr. 9, 2003. An amendment of Interpretation 2, "The Effect of an Inability to Obtain Evidential Matter Relating to Income Tax Accruals," of...

Practice Alert issued on Journal Entries and Other Adjustments. (accounting & auditing news).(American Institute of Certified Public Accountants. Professional Issues Task Force)(Brief Article)
June 1, 2003... The Professional Issues Task Force has issued Practice Alert 2003-2, Journal Entries and Other Adjustments, to provide auditors with guidance regarding the design and performance of audit procedures to fulfill the responsibilities outlined in...

FASB issues Statement on Derivative Instruments.(Financial Accounting Standards Board)(Brief Article)
June 1, 2003... The Financial Accounting Standards Board has issued Statement No. 149, Amendment of Statement 133 on Derivative Instruments and Hedging Activities, which amends and clarifies accounting for derivative instruments, including certain derivative...

PCAOB launches Web site.(Public Company Accounting Oversight Board )(Brief Article)
June 1, 2003... The Public Company Accounting Oversight Board recently launched a Web site to keep accounting firms and public companies apprised of its activities and developments relating to implementation of the Sarbanes-Oxley Act. Among other topics, the...

Comprehensive handbook for investment fiduciaries, financial advisers published.(Foundation for Fiduciary Studies and American Institute of Certified Public Accountants publish "Prudent Investment Practices: A Handbook for Investment Fiduciaries")(Brief Article)
June 1, 2003... A comprehensive handbook designed to promote prudent investment practices for more than five-million investment fiduciaries in the U.S. has been jointly developed by the Foundation for Fiduciary Studies and the AICPA. Prudent Investment...

New guide helps people affected by disasters, CPAs offering financial planning services.(American Institute of Certified Public Accountants and National Endowment for Financial Education publish "Disaster Recovery: A Guide to Financial Issues")(Brief Article)
June 1, 2003... The AICPA and the National Endowment for Financial Education have jointly developed a new, broad-based guide to help people affected by natural and man-made disasters recover from financial loss. Disaster Recovery: A Guide to Financial Issues,...

AICPA seminars. (CPE news).(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2003... The AICPA offers thousands of seminars nationwide each year. For dates and locations of the following popular summer seminars and many others, visit our Web site at www.aicpa.org/promotions/courses/ courseslist.asp. Remember to request your $30...

AICPA supports two tax simplification bills. (tax info).(American Institute of Certified Public Accountants)(Brief Article)
June 1, 2003... The AICPA showed strong support for two tax simplification bills that would simplify sections of the Internal Revenue Code affecting individuals, small businesses and U.S. companies doing business in foreign countries. In a letter to the bill's...

Happenings at spring Council meeting. (news update).(American Institute of Certified Public Accountants)
June 1, 2003... Here are some of the more significant actions and events that took place at the governing Council meeting Apr. 27-29: * Council members were provided with several reports updating them on various important initiatives. Among them:...

Research examines effects of corporate accounting scandals on CPA brand.(American Institute of Certified Public Accountants survey)
June 1, 2003... Over the past 16 months, the CPA profession has gone through difficult changes: Arthur Andersen going out of business, U.S. capital markets tumbling sharply, and Congress passing the far-reaching Sarbanes-Oxley Act of 2002--the effects of which...