CPA Letter articles from May 2003

CPA Letter archives from May 2003

Ethics and fraud in business case collection available for reference.
May 1, 2003... A collection of stimulating case studies and commentaries on ethics and fraud has been published by the Business and Industry team to help improve members' awareness, competence and confidence in dealing with difficult and possibly illegal...

Federal banking regulators release updated internal audit policy statement, guidance on corporate governance, audits and reporting requirements.
May 1, 2003... The federal banking agencies recently issued a revised internal audit policy statement to update guidance on the independence of an accountant who provides both external and internal audit services to an institution so that it is consistent...

AICPA Special Committee on Business Reporting formed to enhance business reporting model.
May 1, 2003... Approved by the Board of Directors in Sept. 2002, the Special Committee on Business Reporting was established with a mission to collaborate with investors, creditors, regulators, management and other stakeholders to improve the quality and...

Task Force created to review role and composition of governing council.(Task Force on the Role and Responsibilities of American Institute of Certified Public Accountants Council)(Brief Article)
May 1, 2003... As a result of discussions last year by the AICPA's governing Council, the board of directors and the Group of 100, the Task Force on the Role and Responsibilities of AICPA Council has been formed. The new task force's charge is to evaluate the...

AICPA Volunteers staff USA Today tax hotline and tax chats.(members from American Institute of Certified Public Accountants answer readers' tax questions)(Brief Article)
May 1, 2003... A big thank you to the CPAs who made this year's Web-based USA Today tax hotline and weekly online tax chats a tremendous success. CPAs from across the country went online from their offices during the hotline to answer tax questions from the...

Public meeting notices.(Calendar)
May 1, 2003... Accounting & Review Services Committee: July 28-29, New York Accounting Standards Executive Committee: June 10-11, New York; July 22-23, San Francisco Auditing Standards Board: June 3-5, New York Professional Ethics...

Chair's corner.(Column)
May 1, 2003... This is our first issue of The CPA Letter published electronically and available online in full text. I hope you find this format useful and convenient. This change is one more example of how the AICPA staff constantly looks for new and better...

Cost Allocation in Nonprofits: Who Gets It?(CPE news)
May 1, 2003... Cost Allocation in Nonprofits: Who Gets It? (No. 730412CPA05). Gain vital insights into issues relating to cost assignments and allocations for not-for-profit organizations with this popular AICPA self-study course. Prerequisite: Experience...

Developing a Profitable Information Technology Consulting Practice.(CPE news)
May 1, 2003... Developing a Profitable Information Technology Consulting Practice (No. 184501CPA05). This videocourse is for partners or principals who are thinking about increasing their firms' revenue by implementing an IT consulting practice. The video...

The Fast Close, Soft Close, Virtual Close? Now Days, Not Weeks.(CPE news)
May 1, 2003... The Fast Close, Soft Close, Virtual Close? Now Days, Not Weeks (No. 731091CPA05). Explore the opportunities that a soft or virtual close can bring to your organization. Prerequisite: Experience in designing accounting systems; Recommended CPE...

AICPA CPE seminars.
May 1, 2003... Count on the AICPA for the latest information in financial accounting and auditing as well as the most up-to-date information on compliance auditing. Visit our course listing at www.aicpa.org/promotions/ courses/courseslist.asp for dates and...

Summer Dream Internship winners from student recruitment campaign announced.(Yuan Ji and Danielle Wright win contest)(Brief Article)
May 1, 2003... One of the exciting promotions of the AICPA's "Start here. Go places." CPA Student Recruitment Campaign was a "Summer Dream Internship Contest" for college students (The CPA Letter, Apr.). The two grand prize winners of the contest have been...

Disciplinary actions.(terminations and suspensions of memberships in the American Institute of Certified Public Accountants)(Brief Article)
May 1, 2003... As a result of an investigation of alleged violations of the Code of Professional Conduct of the AICPA, the following ethics case has been resolved by settlement agreement under the Joint Ethics Enforcement Program: * David A. Skrocki of...

Exposure draft issued on accounting by insurance enterprises for deferred acquisition costs.(accounting & auditing news)(Brief Article)
May 1, 2003... The AICPA's Accounting Standards Executive Committee has issued an exposure draft of a proposed statement of position, Accounting by Insurance Enterprises for Deferred Acquisition Costs on Internal Replacements Other Than Those Specifically...

Updated representation letter issued relating to SSARS No. 9.(accounting & auditing news)(Statement on Standards for Accounting and Review Services No. 9, Omnibus Statement)(Brief Article)
May 1, 2003... In response to the recently issued Statement on Standards for Accounting and Review Services No. 9, Omnibus Statement, the Accounting and Review Services Committee has issued an updated illustrative representation letter. SSARS No. 9 requires...

Computer-based CPA exam writers, reviewers needed.(Brief Article)
May 1, 2003... The Uniform CPA Examination will be a computer-based test as of Apr. 5, 2004, and will contain revised content and a new format to reflect changes in the accounting profession. Part of this new format will include simulations (case-based...

Actions and events at April Board of Directors' meeting.(American Institute of Certified Public Accountants)
May 1, 2003... Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Apr. 2-4: * Members of the AICPA Auditing Standards team and other AICPA staff reported on the Auditing Standards Board's...