New seats on asb; SEC Practice Section replaced.The AICPA AICPA
See American Institute of Certified Public Accountants (AICPA). Council agreed to add non-CPA members, including representatives from the user, regulatory and public communities, to the Auditing Standards Board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public , which continues to set auditing standards for nonpublic entities.
The council also approved a new voluntary membership organization called the Center for Public Company Audits--which will replace the SEC Practice Section--and approved two bylaw by·law
1. A law or rule governing the internal affairs of an organization.
2. A secondary law.
[Middle English bilawe, body of local regulations; akin to Danish changes that will permit the AICPA to sanction members in a more expedient ex·pe·di·ent
1. Appropriate to a purpose.
a. Serving to promote one's interest: was merciful only when mercy was expedient.
b. manner and provide the Institute flexibility to disclose more information about disciplinary matters.
View all the news from the fall council meeting at www.aicpa.org/news/2003/2003_fall_council.asp.