A new federal reports says that the National Strategy for Financial Literacy needs to contain some measures of accountability.The strategy belongs to the Financial Literacy and Education Commission, which was created by December 2003 legislation. The Government Accountability Office says that while the strategy is comprehensive in identifying the breadth of issues involved, the plan does not serve as a plan of action designed to achieve specific goals.

Robert N. Anthony, an honored member of the Harvard Business School faculty for more than 40 years and a prolific scholar, author and innovator in the field of management accounting and control, died Dec. 1 in New Hampshire.

The International Accounting Education Standards Board is seeking comment on an exposure draft of its strategic plan for 2007-09.

With the close of 2006 approaching, we asked industry leaders to share their ideas of what the accounting profession will look like in five years: What will be its major concerns? Challenges? Hot new service areas? What will shape will the firm landscape have taken?In the final part of the series, among others, managing director of research for research firm Glass Lewis & Co. Lynn Turner, Information Technology Group Inc. principal David Cieslak and Internal Federation of Accountants chief executive Ian Ball take a stab at forecasting what the future holds for the profession. The managing partner of Beckstead and Watts, Brad Beckstead, the firm involved in the legal challenge over the constitutionality of the Public Company Accounting Oversight Board, wraps things up.

A board within the International Federation of Accountants is seeking proposals for a research project that will examine how other industries measure the continuing education efforts of professionals.

The American College, a financial services educator based here, has launched an expedited learning program designed to prepare financial advisors for the Certified Financial Planner certification examination in roughly seven months.Developed in conjunction with the JR Financial Group, a financial services trainer, the program, titled Financial Planning Express, combines self-study with a series of live, four-day classroom sessions held every six weeks. The six modules that comprise the Express program conclude three weeks prior to the CFP certification examination with a live, five-day comprehensive review of all 89 CFP topics covered on the test.

Thomson Tax & Accounting has joined the Strategic Partners Program of Financial Executives International.

A lack of practical implementation guidance and the incomplete nature of the Committee of Sponsoring Organizations’ 1992 framework -- in assessing effectiveness of internal controls over financial reporting -- are two of the key cost drivers for public companies complying with Sarbanes-Oxley Section 404 (SOX) requirements, according to a new study.

The continuing business boom has generated a demand for accountants in every sphere that will make seasonal staffing during tax time more difficult than ever, say industry observers."If you're looking for tax people, they're not easy to get, and whoever you do get will be a lot more expensive," said Mike Hurley, vice president of tax for Tampa, Fla.-based Kforce Inc. "Either employees have a good deal where they're at, or they're burned out. Those that have good tax people are making sure they can hold on to them, while others are just getting out of the game. It's hard to find experienced tax people."

The Tax Policy Center has released a series of data tables taking a look at the effect of the major tax changes enacted since 2001.

The American Institute of CPAs has rolled out a new associate membership category for all college and university accounting faculty who are not holding or pursuing the CPA designation.The category will be most similar to the institute’s already existing non-CPA section associates -- instead of working for an accounting firm, applicants have to be teaching accounting at a college or university. Dues are set at $185 a year

With the close of 2006 approaching, we asked industry leaders to share their ideas of what the accounting profession will look like in five years: What will be its major concerns? Its challenges? The hot new service areas? What shape will the firm landscape have taken?Throughout November, WebCPA will post new comment collections each week.

As an extension of its ongoing 360 Degrees of Financial Literacy effort, the American Institute of CPAs and the non-profit Ad Council have partnered on a campaign designed to encourage savings among 25-to-34 year olds -- a demographic, which encompasses roughly 40 million Americans.Titled, “Feed the Pig,” in a reference to the piggy bank, the multi-pronged media effort will include television, radio, print, banner ads and text messaging designed to help emphasize the importance of savings.

Thomson RIA, part of Thomson Corp., and software provider Paisley Consulting, announced that they have formed a strategic marketing relationship.

By 2009, the market for legal, tax and regulatory information will grow to $18.3 billion, according to Outsell Inc.

Loretta Doon was named chief executive of the California CPA Society and the CalCPA Education Foundation this May, after serving for just over a year as the chief operating officer for both groups.

Less than six months after announcing a plan to revamp its test for enrolled agents, the Internal Revenue Service said that the new version of the examination is ready. The first testing window opens today and runs through Dec. 1. The IRS contracted Thomson Prometric to redesign the test and stressed that experts within the Enrolled Agent community had played a role in shaping the new content that is included in the special enrollment examination. The exam has been reformatted from four sections, to three sections, in order to more accurately reflect the current state of taxpayer representation. Each of the three new sections -- individuals, businesses and representation, practice and procedures -- will contain about 100 questions. There are currently about 40,000 active enrolled agents, many of whom are attorneys and CPAs, and represent taxpayers in both examinations and collection matters. Other changes include that:

On the heels of the new risk assessment standards rolled out by the American Institute of CPAs, Thomson Tax & Accounting and the PPC brand are offering two new audit tools. PPC’s Smart e-Practice Aids focused on risk assessment, allows users to automatically generate customized audit programs based on risk assessments. Specifically, the aid will:

DePaul University's College of Commerce has launched the Center for Global Accountancy Education, Benchmarking and Research, which will work to improve financial accounting in the developing world by policing three specific areas: international auditing standards, financial reporting and accounting education.The center will work closely with established international aid and development agencies, including the World Bank, the International Monetary Fund and the United States Agency for International Development.

For those unfortunate readers familiar with my writing, you know that, as a rule, I don't get sentimental in this space -- save for a somber column on the passing of my father-in-law in 2002 and his patient attempts to coach his all-thumbs son-in-law on home improvement projects.