Economy

The National Society of Accountants has elected a new slate of officers, district governors and state directors at its 65th Annual Meeting.

The International Federation of Accountants’ Professional Accountants in Business Committee has released a paper highlighting how employer expectations of professional accountants in business are expected to change in light of global trends and evolving organization needs.

The American Institute of CPAs has contracted with the National Association of Certified Valuation Analysts to develop a course to help CPAs prepare for the qualifying exam for the Certified in Financial Forensics credential.

The National Society of Accountants and the American Institute of CPAs testified before the Internal Revenue Service on the agency’s proposals for registering, testing and requiring continuing education for paid tax preparers.

The multitude of issues affecting the CPA community continues to grow, but top industry concerns mapped out by Illinois CPA Society president Elaine Weiss remain – in no particular order – the economy, globalization, technology, regulations and legislation, and generational issues.

Russell W. Hinton of Atlanta and Peter Hughes of Orange County, Calif., are the 2010 recipients of the American Institute of CPAs’ Outstanding CPA in Government Award.

Political fundraisers in the accounting profession began shifting their largesse toward congressional Democrats after they won control over both the House and the Senate four years ago.

Michael G. Williamson, Ph.D., an assistant professor of accounting at the McCombs School of Business at the University of Texas at Austin, received the Best Early Career Researcher Award from the American Institute of CPAs.

Cloud computing may not yet be the best solution for every accounting firm, but it was clear from many of the sessions at the recent AICPA Tech+ Information Technology Conference, held here, that practitioners need to be aware of how the medium can, and will, change the way they do business.

The New York State Society of Certified Public Accountants recently honored 98-year-old Philip P. Goodkin, a lifelong resident of New York City, as the longest-practicing CPA in the state of New York.

Rudolph J. Bilich Jr., a CPA from Pittsburgh’s Mt. Lebanon section, was elected 2010-2011 president of the Pennsylvania Institute of CPAs at its annual meeting and conference.

Citrin Cooperman & Company has joined the Moore Stephens North America association of accounting firms.

The American Institute of CPAs has developed a new guide to help CPAs comply with new engagement letter requirements.

The median fraud loss for U.S. organizations is $105,000, according to a new study, with billing and corruption schemes the most common types of fraud reported.

The National Association of State Boards of Accountancy has re-launched its Accountancy Licensing Library Web site with additional information and resources regarding the examination and licensure process for becoming a CPA.

The Governing Council of the American Institute of CPAs rolled through a stacked agenda during its Spring Meeting of Council here - a three-day event that was highlighted by approval to expand the institute's membership categories and the start of discussions to sharpen its strategic vision.

The American Institute of CPAs and the National Society of Accountants are voicing their opposition to a provision in the tax extenders and unemployment legislation that could increase the self-employment taxes paid by some professional services firms organized as S corporations.

The Association of Accounting Marketing plans to restructure its committees and subcommittees starting in July.

With myriad issues ranging from green accounting,differential standards, technology advancements tax preparer registration, IFRSadoption and regulatory reform, the role of the CPA will be even more criticalgoing forward, according to American Institute of CPAs chairman Robert Harris.

The Association of Chartered Certified Accountants has released a new report urging businesses to focus more on their ethical responsibilities and prioritize the recruitment of senior executives and financial staff with strong ethical compasses.