Dear Subscriber

This week in the E-zine: A PCAOB member rails against IFRS at a FAE conference; members respond to the government rescue of embattled mortgage giants Fannie Mae and Freddie Mac; an IT specialist gives advice for CPAs struggling with new technology; a Society member provides a FAS 157 primer; and we preview the first FAE International Financial Reporting Standards Conference.

The NYSSCPA E-zine staff will continue to cover and report on these topics that are important to New York area CPAs. Further, staff members of the Society and FAE also stand ready to help with questions on CPE and FAE courses, conferences and seminars.

Thank you for your continued interest.

Sincerely,

NYSSCPA.org Web Site Staff

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PCAOB's Niemeier Slams IFRS at FAE Conference

NEW YORK -- While some regulators seem to have already boarded an express bus bound for International Financial Reporting Standards (IFRS), at least one of them -- Charles D. Niemeier, a Public Company Accounting Oversight Board member whose term expires in October -- is not getting on.

Questions Persist After Fannie and Freddie Bailout

WASHINGTON -- The government takeover of monster mortgage lenders Fannie Mae and Freddie Mac raises a number of questions, but three dominate: Who -- or what -- is to blame for their failure? Did the government act appropriately? And is there a lasting solution?

Surviving Information Technology

If you are a bookworm or a Web-surfing junkie like me, you may feel overwhelmed by the sheer number of different technologies available and their applications for CPAs.

Standardization of Fair Value through FAS 157

NEW YORK -- Much has been written about the Financial Accounting Standards Board’s (FASB) Financial Accounting Statement (FAS) 157, but what exactly does it aim to do and why do some blame it for the current credit crisis?

Convergence Explained at Inaugural IFRS Conference

NEW YORK-- With the Securities and Exchange Commission (SEC) proposal for a “roadmap” for the adoption of International Financial Reporting Standards (IFRS), it’s become essential that accountants understand the convergence with United States Generally Accepted Accounting Principles (GAAP).

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