CPA Letter articles from September 2001

CPA Letter archives from September 2001

AICPA Voices Concern Over GAO Exposure Draft on Auditor Independence.
September 1, 2001... Emphasizing that restrictions on non-audit services contained in a General Accounting Office exposure draft on auditor independence may be especially harmful to smaller entities, and by extension to the CPA firms on which they rely, the AICPA...

Highlights of Board of Directors' July Meeting.
September 1, 2001... Among other actions at its meeting on July 12-13, the AICPA Board of Directors: * Was given a progress report on recent activities relating to the planned computerization of the Uniform CPA Examination, including contracting with a company...

New Auto Insurance Rating Structure for Members.
September 1, 2001... The AICPA Member Auto Insurance Program recently changed its rating structure to better fit the needs of members. This new structure uses credit ratings as an important component in determining the member's auto insurance premium. Studies have...

AICPA Library Collection Transferred to University of Mississippi, Member Services Continue.
September 1, 2001... As the AICPA enters the 21st century, it continues to move toward providing more services in an electronic environment. Part of the evolution from a paper-based environment to an electronic one includes the relocation of the AICPA Library...

Veterans Administration Will Reimburse Cost of CPA Exam.
September 1, 2001... The U.S. Veterans Administration will now reimburse eligible individuals for the cost of the Uniform CPA Examination as part of its veteran education benefits program. Veterans or those on active duty should download VA Form 22-1990 and...

Graders for CPA Exam Sought.
September 1, 2001... The AICPA is seeking licensed CPAs and attorneys to assist in grading the Nov. 2001 Uniform CPA Examination. The grading period begins approximately 2-3 weeks after the examination is administered and continues for about six weeks. Graders must...

CPA Letter Supplements Available.
September 1, 2001... To obtain any of the member-segment supplements produced this month with The CPA Letter: 201/938-3787 from a fax machine and key in document nos.: large firms, 1550; medium firms, 1551; small firms, 1552; business & industry, 1553;...

New Audit Guide, Auditing Revenue in Certain Industries, Released.
September 1, 2001... A new AICPA Audit Guide, Auditing Revenue in Certain Industries (No. 012510CPA09), has been published. The guide was developed in response to heightened concern in recent years that improper revenue recognition has contributed to a perceived...

Exposure Draft on Accounting for PP&E Costs Released.
September 1, 2001... An exposure draft of a proposed statement of position, Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment, has been issued by the Accounting Standards Executive Committee. The proposed SOP would provide...

FASB Issues Statements on Business Combinations, Goodwill.
September 1, 2001... The Financial Accounting Standards Board has issued Statement No. 141, Business Combinations, and Statement No. 142, Goodwill and Other Intangible Assets. Statement 141 improves the transparency of the accounting and reporting for business...

Technical Bulletin Published by FASB.
September 1, 2001... Technical Bulletin No. 01-1, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets, has been published by the Financial Accounting Standards Board. ...

chair's corner.
September 1, 2001... Throughout this year, we have remained focused on our commitment to self-regulation and the cornerstone of the CPA profession -- auditor independence. While public company auditors comprehend the impact of new Securities and Exchange Commission...

SEC Issues Staff Accounting Bulletin No. 102.
September 1, 2001... The Securities and Exchange Commission has issued Staff Accounting Bulletin No. 102, which provides views of the staff on the development, documentation and application of a systematic loan loss allowance methodology. It applies to registrants...

New SEC Chairman Confirmed.
September 1, 2001... By unanimous vote, Harvey Pitt was confirmed by the Senate in Aug. as the new chairman of the Securities and Exchange Commission. Pitt pledged a review of SEC rules, and endorsed the current private sector financial reporting standards-setting...

REVISITING THE CPA VISION, LOOKING AT THE PROPOSED GLOBAL CREDENTIAL.
September 1, 2001... From the profession's grassroots sprouted the CPA Vision a few years back, which explored market forces impacting the profession and defined a set of aspirations to ensure a vigorous future for all CPAs. Members eagerly captured the spirit of...

AICPA Announces Opening of Academy Program.(Brief Article)
September 1, 2001... Today the key to success is specialization. By broadening your expertise you expand the value you can provide. Newly developed AICPA Academies offer a structured, supportive and marketable way to invest in your future. Developed around key...

AICPA Seeks CPE Authors and Instructors.(Brief Article)
September 1, 2001... The Continuing Professional Education Division is currently recruiting new authors and instructors to write program materials and/or conduct seminars nationally. Talented writers and instructors with expertise in accounting, auditing,...

Member Discount Available at More than 1200 CPE Seminars.
September 1, 2001... As an AICPA member, you will receive a $30 discount for each program when you choose your CPE from more than 1200 AICPA seminars scheduled nationally this fall. Ask for your AICPA member discount when registering with your participating state...

Top Issues Identified by Expert Roundtable Participants.(Brief Article)
September 1, 2001... In June 2001, the AICPA held Expert Roundtables in the High Technology and Biotechnology/Pharmaceutical industries. The objectives of the roundtables were to identify business, strategic, and competitive trends, issues and opportunities and to...

disciplinary actions.(American Institute of Certified Public Accountants)(Brief Article)
September 1, 2001... As a result of decisions by hearing panels of the Joint Trial Board, the following members have had their AICPA memberships: --Terminated: * Patrick W. Jacobs of St. Paul, Minn., effective June 23, 2001. * Joseph L. Pfeister of...

now available.
September 1, 2001... Small Business Valuation Case Study (No. 730390CPA09). Prepare to build a profitable business valuation practice as you understand the critical issues inherent in small company valuation engagements and learn about data-gathering issues and...

Independence Standards Board Ceases Operations.(Brief Article)
September 1, 2001... With the Nov. 2000 adoption of the Securities and Exchange Commission's new rule on auditor independence and a strengthening of the AICPA's Professional Ethics Executive Committee through the addition of public members, the AICPA, SEC and...

AICPA Independence Rules Modernized.(American Institute of Certified Public Accountants)(Brief Article)
September 1, 2001... In an effort to modernize the profession's rules on independence, the Professional Ethics Executive Committee adopted revisions to financial interest and family relationship rules under Rule 101--Independence. The new rules embrace an...

Two More CPA Performance View Workshops Offered this Year.(American Institute of Certified Public Accountants)(Brief Article)
September 1, 2001... The last two public workshops of CPA Performance View PLUS for 2001 are scheduled for Oct. 22-24 in Phoenix and Nov. 14-16 in Atlanta. CPA Performance View PLUS is a three-day training workshop plus a system for developing and delivering...