Economy

The National Association of State Boards of Accountancy has advised private companies not to use the American Institute of CPAs’ recently released Financial Reporting Framework for Small and Medium-sized Entities.

The Illinois CPA Society has appointed Todd Shapiro as its president and CEO after serving as CFO since 1998 and interim CEO since January of this year.

The American Institute of CPAs has proposed new standards to build more rigorous oversight of CPA financial planners.

The American Institute of CPAs has released its much-anticipated Financial Reporting Framework for Small- and Medium-Sized Entities, which is aimed at providing an alternative reporting option for small businesses that aren’t required to use GAAP.

Mergers, manufacturing integrations, and partnerships were abound this week plus my take on what to expect at the upcoming AICPA Tech + Symposium.

Last August, the American Institute of CPAs released an exposure draft of its updated guidance on the Valuation of Privately Held Company Equity Securities Issued as Compensation.

The American Institute of CPAs has introduced a new certificate program for accounting firms expanding their financial forensics practice.

Former Financial Accounting Standards Board chairman Robert Herz discusses his new book, "Accounting Changes," along with where he sees FASB and the IASB's convergence effort going, his experience at Coopers & Lybrand with structuring transactions, and how "Bad Bob" went from being a "poacher" to a "gamekeeper" to a standard-setter.

Scholarships, office relocations and more...

The American Institute of CPAs has expressed its support for the Digital Accountability and Transparency Act, which would establish government-wide financial data standards for federal funds.

A group of CPAs headed to Capitol Hill yesterday in what has become an annual ritual as they pressed lawmakers to deal with the many issues that accountants and their clients are forced to wrestle with on a daily basis, including taxes and regulations.

Highlights of our coverage of the American Institute of CPAs Spring Meeting of Governing Council in Washington, D.C., from May 19-21.

A trio of lawmakers in Congress have introduced a bill in the House that would modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to make clear that appraisers of employee stock ownership plans are not fiduciaries under ERISA.

In a report to the Spring Meeting of its Governing Council, the American Institute of CPAs gave a review of its 2013 forecast and its proposed 2014 budget that indicated that the institute was in healthy financial condition.

In a wide-ranging keynote address at the Spring Meeting of the Governing Council of the American Institute of CPAs, president and CEO Barry Melancon described an accounting profession in the midst of a variety of transformations.

In a vote at its Spring Meeting, the Governing Council of the American Institute of CPAs authorized the board to offer the institute’s credentials overseas.

In a panel featuring members from industry at the Spring Meeting of Council of the American Institute of CPAs, institute vice president of xx Arleen Thomas shared some of the details of the upcoming exam for the Certified Global Management Accountant credential.

The American Institute of CPAs voted to allow changes in the definition of “attest” during its Spring Meeting of Council on Sunday in an effort to fend off competition from non-CPA firms and unlicensed CPAs who offer attest services using AICPA standards.

J. Michael Kirkland, CPA, a director in the Deutsche Bank AG, Accounting Policy and Advisory Group, was installed as the 2013–2014 president of the New York State Society of CPAs’ board of directors.

The American Institute of CPAs has sent a letter to the Internal Revenue Service asking the IRS to re-evaluate some of its proposals for a safe harbor method for the home office deduction, even though the AICPA acknowledged that the method would be simpler for taxpayers to use.