AICPA SETTLES COPYRIGHT SUIT

The American Institute of CPAs settled its copyright infringement lawsuit with KAPLI Inc., a provider of review course materials, over the company's alleged use of some of the questions and test items from the AICPA's Uniform CPA Exam that had not previously been made public.

Under the deal, KAPLI, which is short for Korean American Professional Learning Institute, has agreed to a confidential financial settlement.

As part of the settlement, the parties have entered into a license agreement under which the AICPA will release to KAPLI certain CPA Exam content and test materials for use in its review courses.

"We are committed to ... ensuring the CPA Exam is conducted in a fair and level testing environment," said AICPA vice president of examinations Craig Mills. "We are pleased that this review course provider has agreed to cooperate in our ongoing investigation of candidates who may have violated their confidentiality commitment by improperly sharing questions and test items." The AICPA said that it would provide any actionable information to the relevant state boards of accountancy, along with possible recommendations to cancel scores and revoke eligibility to sit for the exam.

 

IASB, IFAC TO COOPERATE MORE

New York - The International Accounting Standards Board and the International Federation of Accountants agreed last month to strengthen their cooperation on developing accounting standards for both the private and public sectors.

While the IASB is responsible for developing International Financial Reporting Standards, IFAC supports the International Public Sector Accounting Standards Board, which is responsible for developing International Public Sector Accounting Standards. IPSAS are used by an increasing number of public authorities and governments around the world.

The new agreement represents a commitment to strengthen the cooperation between the two boards to ensure greater consistency in their standard-setting activities. Many of IFAC's public sector standards are drawn from IFRS.

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