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| October 2004 | The
Monthly Newspaper of the NYSSCPA |
Vol.
7, No.13 |
| PCAOB Inspections Pick Up Speed |
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NEW YORK—The Public Company Accounting Oversight Board is boldly going where no regulator has gone before with its nascent firm inspections program, but the inspections process remains a work in progress, PCAOB representatives said at a recent conference. “This is like flying an airplane while building the airplane at the same time,” George Diacont, PCAOB director of registration and inspections, said at last month’s Current Developments Under the Sarbanes-Oxley Act Conference. “We’re doing big firms. We’re doing small firms. We’re beginning to understand them and tailor inspections for small firms…it’s creating something that never existed before in a specific legal framework.” |
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| Employee Benefits to Shrink or Disappear Completely |
| NEW YORK—In an attempt to contain costs, many New York state employers are likely to ask their employees to contribute more money to pay for their benefit plans, according to a Labor Day poll of CPAs in New York state. Continue... |
| AICPA's PEEC Institutes Revisions to Non-attest Service Rules |
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The AICPA’s
Professional Ethics Executive Committee (PEEC) has issued a revised
Interpretation 101-3 to promote independence when a member renders
non-attest services to an attest client. Continue... |
| President's Commentary |
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Through governance changes that began taking shape more than two years ago under past President Jo Ann Golden, democracy runs deep at the Society. The Foundation for Accounting Education, led by its president Jeff Hoops, and for which I currently am serving as vice president, has followed suit and taken steps to ensure a more practical, representative method for selecting its leaders. Continue... |
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