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Highlights from board of directors' September meeting.


Following are some of the more significant actions that took place at the AICPA AICPA

See American Institute of Certified Public Accountants (AICPA).
 Board of Directors' meeting Sept. 22-23:

* Board members received an update on Hurricane Katrina Editing of this page by unregistered or newly registered users is currently disabled due to vandalism.  relief efforts (The CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000.  Letter, Oct.) regarding CPAs helping the public and each other. Among other things, more than 250 accounting firms so far have signed up with the CPA Firm Volunteer Center to offer assistance to affected firms.

* Progress to explore tailoring generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records.

Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting
 for private, for-profit companies was highlighted. A working group of AICPA members and staff and the Financial Accounting Standards Board Financial Accounting Standards Board (FASB)

Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP).
 has been meeting to discuss how best to proceed with the initiative.

* The board's Task Force on Peer Review presented its progress to date. The task force, which is reviewing the feedback received from members as a part of the Institute's transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending.  awareness initiative, will be recommending supplemental enhancements and/or revisions to the peer review program in a report to the AICPA Board of Directors, AICPA Peer Review Board and the Center for Public Company Audit Firms Peer Review Committee later this year.

* Outstanding results from the profession's multi-year "Start Here. Go Places." student recruitment initiative were presented. The board heard that the campaign has led to improved perceptions and understanding of accounting among high school and college students, a substantial build up of interest in the profession as a career choice and an increase in the number of accounting majors committing to becoming CPAs. (See page 8 for detailed results.)
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Publication:CPA Letter
Date:Nov 1, 2005
Words:247
Previous Article:New Ethics Interpretation adopted; two exposure drafts released.
Next Article:2005 Corporate Tax Returns Videocourse.(CPE news)
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