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| November, 2003 | The
Monthly Newspaper of the NYSSCPA |
Vol.
6, No. 11 |
| AICPA Council Holds Fall Meeting |
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NEW ORLEANS—A shifting business and regulatory landscape prodded the American Institute of CPAs’ Governing Council last month to pass initiatives that support auditors of public companies, while enhancing standards for non-public engagements. The action came during the Council’s Oct. 21-22 meeting in New Orleans, where it approved the Center for Public Company Audit Firms which replaces the AICPA’s SEC Practice Section (SECPS), much of whose responsibilities have been absorbed by the Public Company Accounting Oversight Board. The Council also expanded its Auditing Standards Board membership to add non-CPA members, including representatives from the user, regulatory and public communities, to write standards for non-public engagements. |
| Task Force Submits Report |
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NEW YORK—A
task force has recommended a three-pronged approach to bring CPAs
under a quality control umbrella, advocating a mandatory, universal
peer review requirement with comprehensive support for participants.
Continue... |
| Regents May Make Accountancy Reform Legislation a Priority |
By Dennis O’Leary, Legislative Counsel ALBANY—New
York State Education Commissioner Richard P. Mills last month presented
to the Board of Regents a preliminary priority legislative proposal
to update the state’s accountancy laws.
Continue... |
| President's Commentary |
| Editor’s Note: During the Sept. 23 dinner meeting of the Society’s Board of Directors, then AICPA Chairman William F. Ezzell met with the board to receive feedback regarding the future direction the Institute should take. In particular, Mr. Ezzell asked the board members whether they thought the AICPA should be more of a professional association or a trade organization. The following letter expresses the nearly unanimous opinion of the board and the Society-at-large that the AICPA should reevaluate its mission and goals and proceed as a professional association. Continue... |
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