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News Archive
- Global Accounting Alliance launches online journal
- The Global Accounting Alliance is publishing a new online journal, GAA Accounting , which features authoritative articles on accounting, business, finance and related subjects. The Global Accounting Alliance, of which the AICPA is a member,...
- Interested in showing your CPA pride?
- As you’ve probably noted when you are out of the office and on the road, a wide array of specialized license plates are available in Ohio. Vehicles are branded with everything from the Ohio college or university you attended to your favorite...
- Little change in wage growth predicted
- The overall pace of private sector wage growth is expected to hold steady in the coming months, according to BNA’s Wage Trend Indicator™ (WTI). The final reading of 100.92 for the April-June period marks a decline from the first quarter index of...
- CPA financial executives foresee continuing decline in the U.S. economy
- Expectations for the U.S. economy remain cautious among senior-level executive CPAs, according to the second quarter 2008 Business and Industry Economic Outlook Survey sponsored by the AICPA. In a small increase over last quarter’s results, a 57%...
- Business optimism at lowest level since 2002
- U.S. business leaders’ confidence remained stagnant at 56.1 in May 2008 in relation to the 56.3 index in February 2008, according to the Grant Thornton LLP’s Business Optimism Index . The survey found that U.S. business leaders’ sentiments toward...
- Microsoft to stop selling Windows XP on Monday
- Microsoft is scheduled to stop selling its Windows XP operating system to retailers and major computer makers Monday, July 7. This is despite protests from a number of PC users who don’t want to be forced into using XP's successor, Vista. Once...
- BWC alters premium discounts
- The Bureau of Workers’ Compensation (BWC) Board of Directors unanimously voted to enact an 8% reduction of the maximum discount rate, lowering the rate from 85% to 77% effective July 1, 2009. The reduction comes on the heels of the recent...
- Weekly federal tax update podcast: Proposed preparer penalties
- The weekly “Federal Tax Update” podcasts addresses details of the new Economic Stimulus Act of 2008. Lynn Nichols, CPA, Michael Mares, CPA, ABV, J.D. and Edward Zollars, CPA, provide expert analysis and insight into what is happening in federal...
- 2008 Ohio CPA/PAC Silent Auction a resounding success
- The annual Ohio CPA/PAC silent auction saw record levels of support last year, surpassing 2007’s collected total by more than $1,000. Held for the first time at the OSCPA Members Summit & Annual Meeting, the auction featured more than 60 items,...
- Internal control monitoring guidance released
- The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released an exposure draft for public comment: Guidance on Monitoring Internal Control Systems . The guidance will help organizations monitor the quality of their...
- AICPA adopts new ethics standard on use of indemnification and limitation of liability clauses
- The AICPA has adopted a new standard for its members incorporating the prohibitions on the use of indemnification and limitation of liability clauses of other regulators.
- Rule proposed to level playing field on retention of client records
- After months of discussion between representatives of The Ohio Society and the Accountancy Board of Ohio (ABO), an Ohio-Society-backed rule has been filed to ensure fair treatment of CPAs who have non-paying clients. If adopted by the Joint...
- Proposal to revise compilation and review standards expected in fourth quarter
- The AICPA’s Accounting and Review Services Committee (ARSC) is expected to receive a proposal, from its Reliability Task Force, to consider making its standards more flexible. Small business owners frequently engage an external CPA to help them...
- Quality control practice aid updated
- The AICPA has updated its Practice Aid publication, Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice , to reflect Statement on Quality Control Standards 7, which replaces all the previous...
- AICPA issues two exposure drafts in new format
- The AICPA Auditing Standards Board (ASB) has issued two exposure drafts (EDs) of proposed Statements on Auditing Standards (SASs) – the first to be released as part of the ASB’s Clarity Project . Proposed Statement on Auditing Standards No. 103...
- Big Four firms developing IFRS curriculum
- Both Ernst & Young and Deloitte & Touche are undertaking initiatives aimed at educating college students on international financial reporting standards (IFRS). Deloitte & Touche has formed the IFRS University Consortium which is contributing...
- Economic outlook remains negative for senior CPAs in industry
- Expectations for the U.S. economy remain negative among senior-level executive CPAs, according to the AICPA’s 2008 Business and Industry Economic Outlook Survey. A 57% majority of CPA respondents were pessimistic or very pessimistic about the...
- Americans worry about funding a long retirement
- Americans worry that inflation and the rising cost of health care are increasing the risk that they will run out of money in retirement, according to a new study from the Society of Actuaries. The survey found that those who are already retired...
- AICPA to recognize IASB as a standard setter
- The AICPA Council designated the International Accounting Standards Board (IASB) in London as an accounting body for purposes of establishing international financial accounting and reporting principles. FASB will continue to set standards in the...
- Survey: Auditors say CFOs not prepared for annual audit
- While auditors say their relationship with their clients is better than it was three years ago, the number one mistake made by clients continues to be lack of preparation for the audit, according to a new survey from CFO.com. The survey also...
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