Happenings at October governing Council meeting.

Here are some of the more significant actions and events that took place at the governing Council meeting Oct. 23-24:

* Jimmy L. Williamson of Alabama was elected chairman of the AICPA Board of Directors for 2006-2007 and Randy G. Fletchall of Connecticut as vice chair.

* A presentation was given on a report studying the United States' economy and the savings habits of Americans aged 25-34 (The CPA Letter, Nov.). Council members also were shown the public service announcement ads the AICPA and the Ad Council developed for the Feed the Pig[TM] financial literacy campaign, which launched during the meeting (The CPA Letter, Nov.). Members were enthusiastic and inspired by the campaign and its goals to help 25-34 year-olds better handle their money and attain financial security. The Ad Council places PSAs in the media at no cost. To gain an insightful understanding of the campaign and the strategic thought and planning involved, view "Feed the Pig: The Making of a Public Service Announcement" at www.aicpa.org/stream/fall_council 06/hghlts.htm (scroll down to Additional Videos). The PSAs follow the behind-the-scenes video.

* Updates were provided on various programs and services. CPA2Biz experienced positive business outcomes for the fourth consecutive year (The CPA Letter, Nov.), the AICPA Foundation reported on its new vision and direction, the National Association of State Boards of Accountancy outlined its recent activities, and the Accredited Business Valuation and Certified Information Technology Provider credentials continued to move closer to their Council-mandated financial and participatory targets. The Personal Financial Specialist credential met its targets earlier this year.

* A guest speaker suggested Council members consider new perspectives on trends in technology, teamwork and taking the lead.

* Two members, Ronald S. Cohen and William W. Holder, were awarded the AICPA's highest award, the Gold Medal for Distinguished Service. The Gold Medal recognizes a person whose influence on the profession as a whole is especially notable in comparison to other industry leaders. Cohen, a former chair of the board, has many years of volunteer service with the AICPA. In addition to serving as board chair, he has served on many AICPA committees, including the Audit, Finance, Compensation, Strategic Planning, Regulation and Structure committees and the SEC Practice Section Executive Committee. Additionally, he chaired the AICPA's Assurance Services Executive, International Strategy, Non-CPA Ownership, and Practice Group B Advisory committees.

Dr. Holder is an Ernst & Young Professor at the University of Southern California and a member of the Governmental Accounting Standards Board. He has been a member of the AICPA governing Council and AICPA Board of Directors, served as chair of the Audit Committee, the AICPA Board of Examiners, and the CPA Exam's Computerization Implementation Committee, as well as serving as a member of various committees, including Accounting Career Development, Special Committee on Financial Reporting, Nominations and Relations with the Judiciary. He also is active in the American Accounting Association.