CPA Letter articles from May 2005

CPA Letter archives from May 2005

Effective date approaches for new ethics rulings on outsourcing.(news update)
May 1, 2005... The AICPA Professional Ethics Executive Committee last year adopted two new ethics rulings and one revised ruling that address a member's responsibilities when outsourcing services to third-party service providers. The committee received 49...

Retirement planning brochure, speech added to CPA marketing tool kit.
May 1, 2005... If you are looking for ways to reach out to your clients about the retirement planning advice you can offer, consider sending them the new brochure, How to Afford a Long, Happy Retirement. Members may access the brochure free by clicking on...

AICPA volunteers host USA Today tax chats.
May 1, 2005... AICPA members again this year hosted weekly online chats with USA Today readers and answered a broad array of tax questions. A big "thank you" from the AICPA to all the CPAs who volunteered during their busiest time of year. The newspaper...

Business and promotional merchandise in accessories collection proudly sport "CPA" logo.
May 1, 2005... Tens of thousands of members visibly display the "CPA" logo on their business cards, letterhead, promotional literature, signage, and even on lapel pins. In addition, many members use business gifts and giveaway merchandise which also...

Members encouraged to answer online poll on electronic CPA Letter.
May 1, 2005... In 2003, the AICPA revised the format and frequency of The CPA Letter to improve member communications. We began publishing the newsletter 12 times a year instead of 10, and put the full text online instead of an abbreviated issue. Six of the...

Open forums at May Council meeting enable members to express views.
May 1, 2005... The AICPA's governing Council will be meeting on May 22-24 at the JW Marriott Hotel in Washington, D.C. All members of the Institute are invited to attend. During the meeting, there will be two Open Forums at which members will have the...

Public meeting notices.(Calendar)
May 1, 2005... Accounting and Review Services Committee: June 27-28, New York Council: May 22-24, Washington, D.C. Professional Ethics Executive Committee: May 19-20, Washington, D.C.

AICPA partners with Postini to provide anti-spam service to members.
May 1, 2005... As part of its continuing efforts to help CPAs gain better control of their Internet technologies, the AICPA Information Technology team reviewed a number of anti-Spam solutions that could be utilized by the general membership. The Institute...

New Information Technology community Web site launches.(technology)
May 1, 2005... A new Information Technology community Web site (www.aicpa.org/INFOTECH) has launched containing resources, tools and guidance for CPAs interested or practicing in IT. The site is designed to assist CPAs in the AICPA IT community who want to...

Reminder on reports that are not in accordance with professional standards.(accounting & auditing news)(American Institute of Certified Public Accountants )(Brief article)
May 1, 2005... Accountants may be asked by their clients to sign a preprinted report that does not reflect the language and requirements in professional standards, or that expresses a level of assurance not warranted by the accountant's procedures. Some...

Three exposure drafts issued on SSARS.(accounting & auditing news)
May 1, 2005... The AICPA's Accounting and Review Services Committee has issued three exposure drafts on statements on standards for accounting and review services. Currently, SSARS provide guidance concerning the standards and procedures applicable to...

GASB releases Preliminary Views on pollution remediation obligations.(accounting & auditing news)
May 1, 2005... The Governmental Accounting Standards Board has released a Preliminary Views document, Accounting and Financial Reporting for Pollution Remediation Obligations, that highlights the board's preliminary views concerning accounting and financial...

FASB issues Interpretation on conditional asset retirement obligations.
May 1, 2005... The Financial Accounting Standards Board has published FASB Interpretation No. 47, Accounting for Conditional Asset Retirement Obligations. According to the FASB, Interpretation 47 will result in (a) more consistent recognition of liabilities...

Standards for Business Valuations released for comment.
May 1, 2005... A draft of proposed Business Valuation Standards has been released by the AICPA for comment. The proposed standards consist of guidelines for the development of valuation conclusions and reporting on the results. The standards would apply to...

Forensic & Litigation Services Committee releases new practice aid on family law services.
May 1, 2005... Family law--also variously referred to as domestic relations, divorce relations, divorce litigation, and matrimonial dispute services--is one of most significant CPA litigation practice areas for CPA firms. And litigation services continue to...

Disciplinary actions.
May 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:...

Firms terminated from peer review program.(disciplinary actions)
May 1, 2005... Effective Aug. 9, 2004, the following firm was terminated from the AICPA peer review program for failure to cooperate with the AICPA Peer Review Board. Hearing panels deemed that the firm of Bruce M. Butchen CPA, PC, East Brunswick, N.J.,...

Ethics independence interpretation, rulings released for comment.
May 1, 2005... The Professional Ethics Executive Committee has issued an exposure draft that proposes a new ethics interpretation under Rule 101, Independence (AICPA, Professional Standards, vol. 2, ET sec. 101.01), which defines financial interest, direct...

AICPA Webcasts bring CPE to your desktop.(Webcasts)
May 1, 2005... AICPA Webcasts offer the latest topics from the profession's leading experts. Broadcast live, these 2-hour CPE programs allow you to interact with the presenters and join in on the discussion. Each Webcast is also archived and available on...

New--CPAs "Four Rs" of Communicating: Talking, Listening, Writing, and Presenting.(Self-Study Courses)
May 1, 2005... New--CPAs "Four Rs" of communicating: talking, listening, writing, and presenting (No. 732810CPA05). CPAs are making more oral and written presentations than ever before to more diverse groups, including audit committees and department...

Updated for 2005--Forensic Accounting: Fraudulent Reporting and Concealed Assets.(Self-Study Courses)
May 1, 2005... Updated for 2005--Forensic Accounting: Fraudulent Reporting and Concealed Assets (No. 731951CPA05). Find common forensic techniques to recognize schemes and scams. Detect fraud through the use of analytical tools and other techniques....

Updated for 2005--Revenue Recognition in Today's Business Climate.(Self-Study Courses)(Brief article)
May 1, 2005... Updated for 2005--Revenue Recognition in Today's Business Climate (No. 732421CPA05). The more complex the business, the more specialized the industry, the more difficult the decision becomes for when to recognize earnings. With this CPE...

Updated for 2005--Receivables and Payables: Best Practices in Managing Key Components of Working Capital.(Self-Study Courses)
May 1, 2005... Updated for 2005--Receivables and Payables: Best Practices in Managing Key Components of Working Capital (No. 730649CPA05). Learn to redesign transaction processing and improve control management of short-term assets. Recommended CPE credit...

Updated for 2005--Payroll Taxes and 1099s: Everything You Need to Know.(Self-Study Courses)(Brief article)
May 1, 2005... Updated for 2005--Payroll Taxes and 1099s: Everything You Need to Know (No. 730755CPA05). Learn to avoid frequent penalties while decreasing your load of payroll tax administration. Recommended CPE credit (based on a 50rain. hour): 24. Level:...

AICPA crafts guidelines for developing mentoring programs.
May 1, 2005... Mentoring is the key buzzword for the new millennium and all successful professionals have, are or want mentors. To satisfy your career growth and succession-planning needs, the AICPA Work/Life and Women's Initiatives Executive Committee...

AICPA calls for delay in IRS mandated electronic tax filing procedures for large corporations, exempt organizations.(tax info)
May 1, 2005... The AICPA urged the Internal Revenue Service to delay, by at least a year, implementation of mandatory electronic filing (e-file) procedures for large corporations and exempt organizations at a hearing before the IRS recently. At the hearing,...

New guide helps consumers minimize financial losses before disaster strikes.
May 1, 2005... Working together once again, the AICPA, the AICPA Foundation, the National Endowment for Financial Education[R] and the American Red Cross have launched a new, broad-based disaster preparedness and planning guide to help consumers take steps to...