Highlights of board of directors' September meeting. (AICPA).Following are some of the more significant actions and events that took place at the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Board of Directors' meeting Sept. 12-13: * AICPA President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Barry C. Melancon briefed the board on the general feedback received regarding his Sept. 4 speech outlining initiatives to combat fraud and restore investor confidence (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, Sept.). Various staff members then reported on activities in their areas of responsibility related to the challenges facing the profession. Among them, Senior Vice President-Member and Public Interests Alan Anderson discussed progress with establishing the Center for Fraud Research, and developing fraud training programs, a competency model on fraud and regional conferences for senior managers in industry. Geoff Pickard, Vice President-Communications, explained that the Institute was currently conducting an evaluation of its image enhancement See image editing. campaign and that in the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile would provide the state CPA societies with ads aimed at increasing confidence in public company audits for placement in local media (see page 4). In addition, the board approved creating a special task force to study the Sarbanes-Oxley Act's implications for small business and the potential cascading effect for firms conducting audits for privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . * Based on discussions at the May Council meeting, the Professional Ethics professional ethics, n the rules governing the conduct, transactions, and relationships within a profession and among its publics. professional ethics liability, n 1. Executive Committee developed proposals to improve the transparency, timeliness and effectiveness of the disciplinary process. The board approved the committee's recommendations, which would be discussed at the fall Council meeting. Moreover, an update was provided on the committee's activities regarding dependency and significant client fees. * Additional highlights include reports on the Auditing Standards Board's issuance of the fraud audit standard and other fraud-related initiatives (see page 1), and agreement on language changes to the Uniform Accountancy Act with respect to implementation issues concerning "substantial equivalency" as well as the computer-based CPA exam. |
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