Economy

The American Institute of Certified Public Accountants has told the Internal Revenue Service it should withdraw its proposed rule that would require companies with more than $10 million in total assets to disclose uncertain tax positions on a new schedule.

The American Institute of CPAs’ Peer Review Board has released an exposure draft containing proposed revisions to the guidance for the standards governing CPA firm peer reviews.

Barry Melancon has been president and CEO of the American Institute of CPAs since 1995. Under his leadership, the AICPA has spearheaded a number of initiatives to benefit the profession and the general public, including private company reporting standards and 360 Degrees of Financial Literacy. He is a member of the AICPA’s delegation to the International Federation of Accountants, chairman of XBRL-US, vice chairman of the Center for Audit Quality, and a founding board member of the Global Accounting Alliance. He serves on the board of the U. S. Chamber Center for Capital Markets Competitiveness.

In an effort to draw a wider population of qualified people into the accounting profession, members of the American Institute of CPAs’ governing council unanimously approved revisions to expand its membership categories.

Members of the American Institute of CPAs heard an update from the chairman of the Blue Ribbon Panel, the task force charged with addressing how GAAP accounting standards can best meet the needs of users of private company financial statements, at the AICPA’s Spring Council meeting.

Redefining the landscape is the mantra here at the American Institute of CPA’s Spring Council and president and chief executive Barry Melancon hit that message home during his report to members on Monday.

IMGCAP(1)]Let’s be honest. Between the thousands of quality audits done every day by diligent CPAs and the headline-grabbing debacles like Madoff and Enron, which do you think sticks out more in the public’s mind? We all know the answer to this.

The American Institute of CPA is teaming up with the Society for Human Resource Management to create a national award that recognizes employers who offer financial education programs for their staff.

A professor of accounting at the Carroll School of Management at Boston College is the 2010 recipient of the Distinguished Achievement in Accounting Education Award from the AICPA.

The American Institute of CPAs recognized Birmingham-based Barfield, Murphy, Shank & Smith with a public service award during its 2010 Spring Council on Sunday.

Nashville, Tenn. - David A. Costello, CPA, presidentand CEO of the National Association of State Boards of Accountancy, has announced his plans to retire from his executive role with NASBA, effective Jan. 1, 2012.

The Virginia Society of CPAs has selected Bradford R. Jones as chair of its board of directors for fiscal year 2010-2011.

The Greater Washington Society of Certified Public Accountants has named Camico as the endorsed provider of professional liability and employment practices liability insurance, as well as related risk management services, for approximately 2,000 members in the District of Columbia.

The National Society of Accountants has added KineticD’s online storage, recovery and access service to its member benefits program.

Over the past decade, I have not dedicated a lot of space in this column to the undertakings of the various state societies, save to weigh in on scattered initiatives and lob several "nobody asked me but"...opinions out to our online audience.

The New York State Society of CPAs installed Margaret A. Wood, a former airline attendant who became a partner at Grant Thornton, as its new president.

The American Institute of CPAs took the wraps off its redesigned Web site, AICPA.org, with new multimedia and social networking features.

The National Association of State Boards of Accountancy has promoted Ken Bishop to the job of chief operating officer.

The American Institute of CPAs is keeping a close watch on financial reform legislation as the Senate is expected to begin debate on the bill within the next week.

New York-The blue ribbon panel formed in December to address the 30-year-old debate over whether to issue a separate set of reporting standards for private companies is set to address a number of key issues that hopefully will move the protracted discussion to the next level.