Economy

The Accreditation Council for Accountancy and Taxation has begun accepting exam applications for the Nov. 28 – Dec. 19, 2011 testing period.

U.S. and Hong Kong accounting organizations have inked a five-year mutual recognition agreement that would allow reciprocity between U.S. and Hong Kong CPAs.

The National Association of State Boards of Accountancy has launched a new Web site, CPAverify.org, that provides a central database of state licensee information about CPAs practicing across the U.S.

The American Institute of CPAs said the Canadian Institute of Chartered Accountants and CMA Canada are in talks about creating a unique CPA designation in Canada and combining it with their CA and CMA designations.

The American Institute of CPAs passed a resolution Tuesday at its Fall Meeting of Council that would give its board of directors the ability to consider the option of creating a separate committee or board to develop accounting standards for private companies.

CPA2Biz, the marketing arm of the American Institute of CPAs, will offer a CPA-branded email service, CPA.com, for AICPA members this fall, with the goal of offering the profession an alternative to consumer-oriented email services.

The American Institute of CPAs presented the results of a research project forecasting where the accounting profession will be in 2025.

The American Institute of CPAs and the Chartered Institute of Management Accountants intend to officially launch their new Chartered Global Management Accountant credential on January 31.

The American Institute of CPAs has launched a new letter-writing campaign aimed at pressuring the Financial Accounting Foundation to set up a separate standard-setting board for private company accounting.

Weaver's Smith Named ASWA Regional Director

The American Institute of CPAs has released a new white paper addressing the fair value measurement of financial assets and liabilities, for which there is no market.

The American Institute of CPAs has written to the leaders of Congress’s main tax-writing committee urging them to repeal a requirement that would soon force federal, state and local governments to withhold 3 percent on the payments they made to most government contractors, including certain other payments such as Medicare.

A new report from a task force led by the International Federation of Accountants urges greater acceptance of globally accepted high-quality international standards for financial reporting, auditing, valuation and actuarial services and other regulations, to restore the proper functioning of the financial markets.

The New Jersey Society of CPAs said Friday that a number of candidates for the CPA Exam in New Jersey have had their applications rejected by CPA Examination Services because of confusion over whether they had met the necessary education requirements.

The American Institute of CPAs is asking the Internal Revenue Service to reconsider some of the fees it plans to charge for competency exams and fingerprinting as part of its tax preparer oversight program.

A total of 33 state CPA societies representing over 275,000 CPAs have written letters so far to the Financial Accounting Foundation or passed resolutions urging the FAF to create a new accounting standard-setting board for privately held companies, according to the American Institute of CPAs.

Small and midsized enterprises are placing greater emphasis on sustainability strategy in tandem with their accounting, according to a new report.

The New York State Society of CPAs has written a comment letter opposing changes in the format of audit reports.

IMGCAP(1)]Paul V. Thompson, EA, ABA, ATA, ARA, of Alexandia, Va., was named Accountant of the Year by the National Society of Accountants at its 66th annual meeting, held here.