News Articles Index
Accounting Degrees Reach Highest Level in Over 30 Years:
AICPA Report
(May 5, 2008)
There are more
than 64,000 students graduated with bachelor’s and master’s
degrees in accounting in the 2006-07 school year, according
to a new report by the American Institute of Certified
Public Accountants. This is the largest number of graduates
in the 36 years the Institute has been tracking this data.
House Approves Two Provisions Important to CPAs
(April 17, 2008)
The US House of Representatives passed two provisions the
accounting profession has strongly urged Congress to adopt.
One provision would restore the proper relationship between
tax preparers and taxpayers by equalizing IRS disclosure
standards. The other provision would free businesses from
onerous recordkeeping requirements for cell phones.
AICPA
Written Testimony Before the House Committee on Small
Business
(April 10, 2008)
House Ways and Means Committee Approves Bill That Would
Enhance Role of CPAs as Taxpayer Advocates
(April 9, 2008)
The AICPA applauded
the House Ways and Means Committee's approval
of a bill that would enhance the role of CPAs as advocates
for taxpayers by equalizing the
IRS disclosure standards between tax preparers and
taxpayers.
Electronic Audit
Confirmations
(April 2, 2008)
Time to dust off the audit tools and get to work; right? At
K2 Enterprises, we are always looking for new and cool
technologies for CPA firms. Electronic audit confirmations
are not only possible now, but also very useable as well.
File
Taxes Electronically to Minimize Delays
(December 31, 2007)
The passage of legislation to address the alternative
minimum tax will mean a delay in the traditional mid-January
start of tax return season for taxpayers who use certain
AMT-related federal tax forms. Those delays will impact a
small percentage of taxpayers in North Carolina. The IRS is
targeting Feb. 11 as the date that impacted taxpayers can
begin filing their taxes electronically. The vast majority
of taxpayers in our state are unaffected by this delay and
can begin filing their returns in mid-January.
One Set of
International Standards
Important for Economic Growth, According to Survey
of World Accountancy Leaders
(December 3, 2007)
Of the 143 leaders from 91 countries who responded, a large
majority (89 percent) indicated convergence to international
financial reporting standards was “very important” or
“important” for economic growth in their countries.
Results From NCACPA's "Mobility" Survey Now Available
(November 30, 2007)
Preparing to Implement Senate Bill 242
(November 29, 2007)
Senate Bill 242 goes into effect Jan. 1 and will change the
way North Carolina taxpayers appeal proposed assessments and
denials of requested refunds by the North Carolina
Department of Revenue. The Department is preparing
internally to implement SB 242 and will be ready by the end
of the year.
Senators Baucus and Grassley
Introduce Bill Banning Tax Strategy Patents
(November 19, 2007)
The AICPA commends the introduction of a bill by Senate
Finance Committee leaders, Chairman Senator Max Baucus of
Montana and ranking-minority member Senator Chuck Grassley
of Iowa, to prohibit patents on tax planning methods. S.
2369 would halt the granting of tax strategy patents by the
US Patent and Trademark Office.
AICPA Recommends US Securities
and Exchange Commission Use International Accounting
Standards
(November 14, 2007)
The AICPA recommended the SEC take comprehensive steps to
harmonize US and international financial reporting,
including allowing American public companies to report
financial results using international accounting standards.
Staffing Needs Dominate 2007 AICPA Top MAP Issues Survey
(November 1,
2007)
Finding qualified staff at all levels is the most critical
concern for the majority of firms with multiple
professionals within the United States, underscoring the
staffing crisis facing the accounting profession, according
to the 2007 American Institute of Certified Public
Accountants (AICPA) Private Company Practice Section’s
(PCPS) Top Management of an Accounting Practice (MAP) Issues
Survey.
Auditing Standards Board
Embarks on Clarity Project
(October 11, 2007)
With a mission to reduce complexity, the AICPA Auditing
Standards Board is embarking on an ambitious project that
will result in completely redrafted auditing standards.
AICPA Congratulates House Leaders On Passing Legislation
to Prohibit Patents on Tax Planning Methods
(September 7, 2007)
Independence FAQ on Fin 48
Periodically, the staff of the Professional Ethics Division
issues non-authoritative guidance in the
form of “Frequently Asked Questions and Answers” on ethics
and independence
questions raised by AICPA members.
AICPA Introduces Unique eNewsletter For Members in Small
Firms
The American
Institute of Certified Public Accountants (AICPA) has
launched Small Firm Solutions, a new quarterly e-newsletter
designed to help AICPA members in the smallest firms make
the most of their practice opportunities and keep track of
important developments in the profession.
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