Highlights of Board of Directors' February meeting.

Here are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Feb. 8-9:

* President and CEO Barry Melancon briefed board members on a number of professional matters. Among the issues covered were: establishment of the Center for Audit Quality (www.thecaq.org) to address the needs of auditors of public companies; a renewed strategic planning process that will focus on such long-term issues as education, passing the CPA Exam, recruitment, succession and the effects of the baby boom generation's retirements; and the ongoing successful transitioning of positions and activities to the Durham, N.C., office.

* A summit meeting with the National Association of State Boards of Accountancy was discussed. Mobility was a major topic of that meeting, which reaffirmed that both organizations are on the same track and agree that the issue is a high priority (see Chair's Comer on page 4; www.aicpa.org/download/states/ UAA_Section_23_Exposure_Draft_2006.pdf).

Board members were informed of developments with Congress and federal regulators concerning workload compression, patents for tax strategies (see page 3) and tort reform.

Updates were provided on various initiatives. Highlights included: the Auditing Standards Board's activities; the Enhanced Business Reporting Consortium progress and new opportunities provided by XBRL; a financial report showing continued success for CPA2Biz; and developments in the international arena on technical and professional issues.