CPA Letter articles from March 2005

CPA Letter archives from March 2005

Guidance issued on management override of internal controls.
March 1, 2005... As part of its ongoing fraud-prevention program, the AICPA has issued guidance to help audit committees understand one of the most significant of fraud risks: management override of internal controls. The guidance, Management Override of...

SEC issues frequently asked questions in internal control.
March 1, 2005... In late Jan. the Securities and Exchange Commission released frequently asked questions on the management's report on internal control over financial reporting Division of Corporation Finance, Visit www.sec.gov/divisions/corpfin/faq012105.htm.

Last chance to pay 2004-2005 AICPA dues.
March 1, 2005... Members who have not yet paid their 2004-2005 AICPA dues should do so now to ensure continuation of important benefits and access to professional information. Pay your bill online by logging onto www.aicpa.org/about/dues.htm. If you are not...

Revisions made to ethics interpretation on nonattest services based on member feedback.
March 1, 2005... At its Jan. meeting, the Professional Ethics Executive Committee adopted revisions to Interpretation 101-3-Performance of Nonattest Services, to provide clarification on the applicability and intent of the rule and ensure its continued...

CPAs in Business and Industry optimistic about economy, survey shows.
March 1, 2005... A semi-annual Business and Industry Economic Outlook Survey shows that CPAs serving as CEOs and CFOs are optimistic about the economy in 2005. The goal of the semi-annual survey was to determine the level of confidence in the economy as a...

Help AICPA benevolent fund help your colleagues.
March 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...

Public meeting notices.(Calendar)
March 1, 2005... Accounting Standards Executive Committee: Apr. 19-20, New York Auditing Standards Board: Apr. 26-28, New York

Healthcare Industry Strategic Briefing.
March 1, 2005... Healthcare Industry Strategic Briefing (No. 780018hsCPA03). Current economic, industry and regulatory developments, as well as emerging accounting and auditing practice issues, are covered in this new CD-ROM self-study course based on a recent...

Depository and Lending Institutions Specialized Strategic Briefing.(Brief article)
March 1, 2005... Depository and Lending Institutions Specialized Strategic Briefing (No. 780020hsCPA03). Follow along with leading experts in the financial institution industry as they spotlight new accounting and auditing rules and regulations, including FASB,...

Construction Contractors Strategic Briefing.
March 1, 2005... Construction Contractors Strategic Briefing (No. 780034hsCPA03). A panel of leading experts explores industry, and economic developments, revenue recognition issues, and changes impacting construction contractors in this CD-ROM sell-study...

New editions--checklists and illustrative financial statements.
March 1, 2005... (each checklist:$32 member/$40 non-member): * Common Interest Realty Associations (No. 008905CPA03) * Corporations (No. 008935CPA03) * Life and Health Insurance Companies (No. 008955CPA03) * Property & Liability Insurance...

Adviser's Guide to the Tax Consequences of the Purchase and Sale of a Business.(Brief article)
March 1, 2005... (No. 091016CPA03). Knowing the tax consequences of buying or selling a business before the sale is crucial. This book, based on the popular CPE self-study course, Tax Consequences of the Purchase and Sale of a Business, shows you how to...

Disciplinary actions.(L.L. Skaff and Richard J. Sullivan loose American Institute of Certified Public Accountants membership)(Brief article)
March 1, 2005... 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:...

IRS taxpayer compliance initiatives can be leveraged off efforts of CPAs, AICPA tells IRS oversight board.
March 1, 2005... The Internal Revenue Service can use the efforts of CPAs and other tax practitioners as a springboard to leverage IRS initiatives to improve taxpayer compliance, Tom Purcell, chair of the AICPA's Tax Executive Committee, told the IRS Oversight...

New incident response plan available for free download.(technology)
March 1, 2005... Most organizations have some kind of crisis communications plan that addresses natural or man-made disasters, but these plans may not completely speak to more sensitive, personal issues like identity theft and information security. If a...

AICPA confers special recognition award.
March 1, 2005... Robert S. Roussey, an accounting professor at the University of Southern California who previously had been a partner at Arthur Andersen, was the 2004 recipient of the AICPA's Special Recognition Award. The Institute presents the award to...