Washington, D.C. -- The board of directors of the CFP Board of Standards announced the resignations of its chairman, Alan Goldfarb, and two members of the Disciplinary and Ethics Commission.

After the CFP Board became aware of allegations that members of the board and other volunteers may have violated provisions of the CFP Board's Standards of Professional Conduct, the board of directors created a special committee, which retained outside counsel to investigate. The investigation found sufficient merit in the allegations against Goldfarb and the two members of the DEC to refer them for further proceedings under the CFP Board's disciplinary rules.

When presented with the committee's findings, Goldfarb and the two DEC members decided to resign from their posts. On October 30, Goldfarb addressed the situation in an open letter: "I am certain that this was a misunderstanding, and I welcome the opportunity to engage in good faith the CFP Board's enforcement process."

Goldfarb added: "I believe that under the circumstances, it is best for the organization that I resign pending the outcome of the process as both chair and a member of the board of directors, effective immediately."

2012 chair-elect Nancy Kistner has since been elected to fill the remainder of Goldfarb's term.



New York -- The American Institute of CPAs plans to publish its first book for the consumer market early next year.

The book, entitled Save Wisely, Spend Happily, combines the personal financial planning insights of 125 CPAs. It is scheduled to be published on January 3.

The book complements the AICPA's 360 Degrees of Financial Literacy volunteer effort. Institute members can begin purchasing the book now through CPA2Biz. Discounts are available for bulk orders. All proceeds from the sale of the book will go to support the CPA profession's financial literacy efforts.

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