Highlights of Board of Directors' February Meeting.Among other actions at its meeting on Feb. 8-9, the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Board of Directors: * Was updated on the progress of the proposed global business credential, computerization com·put·er·ize tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es 1. To furnish with a computer or computer system. 2. To enter, process, or store (information) in a computer or system of computers. of 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. exam, and development of new and existing assurance products and accreditations. * Passed a resolution approving the proposed Public Oversight Board charter. * Heard 'about the profession's portal, cpa2biz, including funding, hiring of senior staff (see "cpa2biz Puts Senior Leadership Team in Place"), and selection of an audit firm. Was provided the latest U.S. research findings on the global credential initiative (see "Research Results Show Significant Support Among CPAs, Students for Proposed Global Credential") and heard that an advisory task force, chaired by former Chair of the Board Robert K. Elliott, had been formed. The task force includes a cross-section of the membership. * Was informed that the Center for Investment Advisory Services, which provides CPAs with tools, resources and training, currently has more than $100 million in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . All parties involved are satisfied with the progress of the Center. In addition, efforts are under way to add more practice-oriented content to the Center's Web site. * Heard a report on developments in the profession, including updates on recent appointments to the Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). and the International Accounting Standards Committee International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these . * Heard about the Estate Tax Reform Task Force's study regarding structural issues in estate, gift and generation-skipping transfer taxes and its analysis and/or recommendations to assist policy-makers in addressing and resolving those issues. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion