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Senin, 05 Juli 2010

AICPA NEWS

May, 2010
International Accounting Standards Board Chairman Sir David Tweedie Addresses AICPA Governing Council

May 25, 2010 - Sir David Tweedie, the chairman of the International Accounting Standards Board, speaking to the American Institute of Certified Public Accountants spring Council meeting, said the move to global accounting standards is a key element of the global financial reform agenda and long-term benefits of a single set of high-quality accounting standards far outweigh the short-term difficulties of transition.

AICPA Survey Shows U.S. CPAs Gaining in Awareness of International Financial Reporting Standards

May 24, 2010 - U.S. Certified Public Accountants are gaining awareness about International Financial Reporting Standards and CPAs increasingly foresee a need to gain advanced, or expert knowledge as the U.S. moves toward global accounting standards over the next three to five years, according to a recent survey conducted by the American Institute of Certified Public Accountants.

Survey: CPAs Growing More Familiar with IFRS

May 24, 2010 - Even though most American CPAs do not prepare or audit IFRS financial statements, many have begun learning the international standards, according to an AICPA survey released Monday. (Journal of Accountancy)

April, 2010
CPA Exam to Undergo an Evolution

May 2010 - The CPA exam is undergoing its largest overhaul since moving from paper and pencil to computers. Jan. 1, 2011, will mark the launch of what people behind the exam are calling CBT-e (Computer-Based Testing evolution). (Journal of Accountancy)

February, 2010
AICPA Issues Statement on SEC Commitment to Move U.S. toward International Financial Reporting Standards with new "Work Plan"

February 24, 2010 – The American Institute of Certified Public Accountants President and CEO Barry Melancon issued a statement on the Securities and Exchange Commission’s endorsement today of a plan to work toward incorporation of International Financial Reporting Standards (IFRS) in the U.S. financial reporting system.

AICPA Issues Letter to Senate Committee on Banking on Fair Value Accounting

The American Institute of Certified Public Accountants strongly believes that independent, unbiased standard setting of private sector accounting principles is critical to capital markets and investor interests.

January, 2010
Volunteers Needed to Develop Questions on IFRS for Uniform CPA Examination

January 27, 2010 – The AICPA Examinations Team is seeking professionals with solid skills and knowledge in International Financial Reporting Standards to develop questions (“items”) on IFRS for the Uniform CPA Examination. Learn more.

December, 2009
"Blue-Ribbon" Panel Formed to Address Standards for Private Companies

December 17, 2009 – The American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Foundation (FAF) announced the establishment of a "blue-ribbon panel" to address how U.S. accounting standards can best meet the needs of users of private company financial statements.

IFRS Subject Matter Experts Needed

The AICPA Learning team is developing an IFRS Certificate of Accomplishment program for Certified Public Accountants and Chartered Accountants. The AICPA is seeking subject matter experts with extensive IFRS knowledge and with experience in IFRS application and/or training to work on program components. Learn more.

AICPA and World Accounting Bodies Call for Single Standard for Climate Change Reporting

December 9, 2009 – The American Institute of Certified Public Accountants joined with 12 major accounting institutes around the world and The Prince of Wales Accounting for Sustainability Project in an open letter to political leaders attending the Copenhagen Convention on Climate Change. (AICPA)

October, 2009
AICPA Releases Fall IFRS Preparedness Survey

October 19, 2009 – AICPA survey shows U.S. CPAs delayed moves toward international accounting standards after SEC set aside progress on "roadmap". The survey also reveals that CPAs support adoption of International Financial Reporting Standards, but tend to prefer convergence first.

AICPA Calls for Permanent, Independent Funding Source for International Accounting Standards Board

October 6, 2009 – Barry C. Melancon, president and CEO of the American Institute of Certified Public Accountants, speaking at a roundtable of global accounting leaders in New York City today called for a permanent, independent funding mechanism for the International Accounting Standards Committee Foundation, the governing body of the International Accounting Standards Board.

CPA Exam to Undergo Transformation

October 1, 2009 – The Uniform CPA Examination will be transformed beginning in 2011, with a new structure, format and content and supported by enhanced technology. The improvements, designated CBT-e for Computer-Based Testing evolution, will be launched Jan. 1, 2011, simultaneously with exam content updates that include, for the first time, testing on International Financial Reporting Standards (IFRS). (Journal of Accountancy)

July, 2009
AICPA Welcomes Issuance of IFRS for Private Companies

IASB Offers IFRS for Small and Medium Entities. The American Institute of Certified Public Accountants welcomes the issuance and use of International Financial Reporting Standards for private companies as issued by the International Accounting Standards Board in London.

May, 2009
U.S. CPAs Still Evaluating International Accounting Standards, Recognize Need to Learn IFRS

CPAs continue to prepare for IFRS as SEC reviews roadmap. The U.S. accounting profession recognizes a need to acquire knowledge of international accounting standards even as the Securities and Exchange Commission revisits plans for adoption, according to a recent survey conducted by the American Institute of Certified Public Accountants.

April, 2009
Where Will the SEC Take the IFRS Roadmap?

April 27, 2009 - The SEC’s comment period for its proposed IFRS roadmap expired on April 20. While many expressed support for the goal of high-quality globally accepted accounting standards, the request for comments produced numerous critics of the roadmap. Read an analysis of the comment letters. The analysis highlights some of the issues that the SEC will grapple with as it considers the proposed roadmap and whether (or how) to transition U.S. companies to IFRS from U.S. GAAP.

April, 2009
AICPA Supports IFRS Adoption, Recommend Changes to SEC Road Map

The AICPA submitted its comment letter to the SEC on its proposed road map for the use of IFRS. The Journal of Accountancy summarizes key points of the comment letter.

April, 2009
AICPA Issues Comment Letter to the SEC on the IFRS Roadmap

April 9, 2009 – The American Institute of Certified Public Accountants (AICPA) offers comments on the Securities and Exchange Commission’s proposed Roadmap to U.S. adoption of International Financial Reporting Standards.

March, 2009
AICPA Comments on the IASC Foundation's Constitution.

March 17, 2009 – The AICPA comments on the second part of the five-yearly review of the International Accounting Standards Committee Foundation’s (IASCF) Constitution. In its comment letter, the AICPA applauds establishment of a Monitoring Board, stresses the need to find a permanent funding solution and addresses the future need for private-entity financial reporting constituency representation on the IASCF and Standards Advisory Committee (SAC).

January, 2009
Private Company Financial Reporting Committee discusses SEC roadmap.

January 12, 2009 - WebCPA reports that among the topics covered in their recent meeting with the Financial Accounting Standards Board were FASB Interpretation 48 and the SEC’s proposed roadmap for transitioning to IFRS. Regarding the roadmap, PCFRC Chair Judy O’Dell said, “We will stress that private companies will need to be considered, and we have some concerns about what will happen to FASB once public companies go to IFRS”.

December, 2008
U.S. SEC Releases Final Rule Mandating Companies
to Report Financial Statements Using XBRL, Interactive Data Format
The U.S. Securities and Exchange Commission approved final rules, which require companies to submit Financial Statements in XBRL format with their SEC filings. The new rules will require the largest companies to use interactive data beginning with their quarterly June 2009 filings. The rules will be phased in over a three-year period.
December, 2008
SEC action convinces CPAs that switch to IFRS is coming.
December 2008 - The AICPA releases results of new survey that shows a significant and positive shift in the number of firms and companies that are starting to prepare for eventual adoption of International Financial Reporting Standards.
October, 2008
Accounting Profession Reacts to IFRS Plan
October 2008 - In August, the SEC agreed to a series of steps that could lead to the required use of IFRS by U.S. issuers by 2014. The Journal of Accountancy asked a group of accounting thought leaders for their views on the SEC’s proposal.
September, 2008
AICPA Comments on IASCF Proposal:
Public Accountability and the Composition of the IASB Proposals for Change

August, 2008
AICPA Statement on SEC Roadmap for IFRS
August 27, 2008 – Commenting on the SEC roadmap, Barry Melancon, AICPA president and CEO, said "The AICPA supports one set of high quality global accounting standards for public companies."

July, 2008
Journal of Accountancy International News Digest

June, 2008
AICPA Calls for Three to Five Year Timeline for Reasonable Transition to IFRS
June 17, 2008 – Barry C. Melancon, president and CEO of the AICPA, calls for a reasonable and clear-cut time frame of three to five years for the U.S. accounting profession to adopt International Financial Reporting Standards.

June, 2008
How Will IFRS Affect Tax Practitioners?
Many companies are in the early stages of considering what impact the transition to International Financial Reporting Standards (IFRS) from U.S. GAAP will have on financial reporting.

May 1, 2008
FASB ITC on Reducing Complexity in Reporting Financial Instruments
The Financial Accounting Standards Board (FASB) issued an Invitation to Comment (ITC) on Reducing Complexity in Reporting Financial Instruments, including International Accounting Standards Board (IASB) Discussion Paper, Reducing Complexity in Reporting Financial Instruments.

May 1, 2008
IASB Discussion Paper on Post-Employment Benefits
The International Accounting Standards Board (IASB) has published for public comment a discussion paper on IAS 19, Employee Benefits. The discussion paper addresses the main concerns expressed by a wide range of interested parties that the accounting model set out in IAS 19 is inadequate and should be reviewed.

May 1, 2008
IASB Meets with Auditing Standards Board of Japan
The Accounting Standards Board of Japan (ASBJ) and the International Accounting Standards Board (IASB) held their second meeting in Tokyo since the announcement of the initiative to accelerate convergence between Japanese generally accepted accounting principles and International Financial Reporting Standards (IFRS), known as the "Tokyo Agreement," in August.

May 1, 2008
IPSASB Launches Project on Long-Term Fiscal Sustainability
In developing its project on social benefits, the IPSASB has concluded that financial statements alone may not provide users with enough information to assess the long-term viability of social benefit programs. It has, therefore, undertaken this new project to develop a framework for reporting on the long-term fiscal sustainability of governmental programs and finances.

April 30, 2008
SEC IFRS Position
The Security and Exchange Commission (SEC) advocates reducing disparity between the accounting and disclosure practices of the United States and other countries as a means to facilitate cross-border capital formation while providing adequate disclosure for the protection of investors and the promotion of fair, orderly and efficient markets.

April 29, 2008
Convergence With International Accounting Standards
The Financial Accounting Standards Board (FASB) is working with the International Accounting Standards Board (IASB) to converge their respective accounting standards into a robust set of rules that will meet the needs of preparers and users in all global constituencies.

April 25, 2008
Global Accounting Alliance
The Global Accounting Alliance (GAA) is the formalization of an informal group, which consists of the CEOs of nine leading national accounting institutes, shares trends, information and work products.

April 24, 2008
Convergence Of Audit And Attest Standards
As international standards in audit and attest services become accepted worldwide, CPAs in the United States, including smaller firm practitioners, will need to be familiar with these international standards on auditing ("ISAs") and may be required to perform engagements in accordance with these international standards (or equivalent national standards) in order to serve international businesses.

April 14, 2008
International Federation Of Accountants
IFAC is the global organization for the accountancy profession. It works with its 163 member organizations in 120 countries to protect the public interest by encouraging high quality practices by the world's accountants. IFAC members represent 2.5 million accountants employed in public practice, industry and commerce, government and academia.

April, 2008
Journal of Accountancy International News Digest
March, 2008
Journal of Accountancy International News Digest
February 11, 2008
AICPA FAF Board Comment Letter
The American Institute of Certified Public Accountants (AICPA) is pleased to offer its comments on the Financial Accounting Foundation’s Request for Comments on Proposed Changes to Oversight, Structure, and Operations of the FAF, FASB, and GASB (Proposal).

February 1, 2008
Chair's Corner
The ongoing move toward greater convergence of financial reporting standards should improve the efficiency and effectiveness of financial reporting in a global economy, fostering expansion by businesses, large and small, and investment opportunities, particularly in emerging markets.

January 1, 2008
FASB Marks Convergence Milestone with Issuance of Statements on Business Combinations and Noncontrolling Interests
Effective for fiscal years beginning after December 15, 2008, the standards will improve, simplify and converge internationally the accounting for business combinations and the reporting of noncontrolling interests in consolidated financial statements.

January 1, 2008
SEC Eliminates Reconciliation Requirement for Foreign Companies; AICPA Recommends SEC Use International Accounting Standards
In November 2007, the Securities and Exchange Commission (SEC) unanimously approved a proposal that no longer requires foreign registrants to reconcile their financial statements with U.S. generally accepted accounting principles (GAAP), as long as they use international financial reporting standards (IFRS).

January 1, 2008
One Set of International Standards Important for Economic Growth: World Accountancy Leaders
Convergence to a single set of international standards is a key to economic development, according to a survey of worldwide leaders of the accounting profession conducted by the International Federation of Accountants (IFAC).

January, 2008
Journal of Accountancy International News Digest
November 12, 2007
AICPA IFRS Option Comment Letter
The American Institute of Certified Public Accountants (AICPA) is pleased to offer its comments on the Securities and Exchange Commission (SEC) Concept Release on Allowing U.S. Issuers to Prepare Financial Statements in Accordance With International Financial Reporting Standards.

November 1, 2007
IASB Proposal on Joint Arrangements
The International Accounting Standards Board (IASB) has published for public comment a proposal to improve the accounting for joint arrangements.

October 17, 2007
New IFAC Paper Focuses on Internal Control from a Risk-Based Perspective and the Role of Accountants in Business
The International Federation of Accountants’ Professional Accountants in Business (PAIB) Committee has published an information paper on internal control from a risk-based perspective and the role of accountants in business.

October 2007
IASB Proposes Additional Guidance on Hedge Accounting
The International Accounting Standards Board in fall 2007 published for public comment an exposure draft of proposed amendments to IAS 39, Financial Instruments: Recognition and Measurement. The amendments intended to clarify what can be designated as a hedged item in a hedge accounting relationship.

Audit and Attest Standards
This section includes information related to AICPA's audit and attest services activities.
AICPA Comment Letters to the IASB

Industry-Specific Accounting Guidance
The Accounting Standards Team's principal objective is to determine the AICPAs technical policies regarding financial accounting and reporting standards.

AICPA PRESS RELEASES

August 27, 2008
AICPA Statement on SEC Roadmap for IFRS
The Securities and Exchange Commission’s roadmap for the adoption of International Financial Reporting Standards (IFRS) marks an important stage in what the American Institute of Certified Public Accountants believes will be the eventual move from U.S. Generally Accepted Accounting Principles to international accounting standards for public companies.
May 19, 2008
AICPA Publishes IFRS.com Website to Inform Members and Financial Professionals About International Accounting Standards
The American Institute of Certified Public Accountants announced the introduction of IFRS.com, a new Web site developed in partnership with its marketing and technology subsidiary CPA2Biz to help members and financial professionals learn about and stay informed on International Financial Reporting Standards (IFRS).

May 18, 2008
AICPA Council Votes to Recognize the International Accounting Standards Board as a Designated Standards Setter
The governing Council of the American Institute of Certified Public Accountants voted to designate the International Accounting Standards Board in London as an accounting body for purposes of establishing international financial accounting and reporting principles.

November 14, 2007
AICPA Recommends U.S. Securities And Exchange Commission Use International Accounting Standards
The American Institute of Certified Public Accountants recommended the U.S. Securities and Exchange Commission take comprehensive steps to harmonize U.S. and international financial reporting, including allowing American public companies to report financial results using international accounting standards.

October 24, 2007
AICPA Tells U.S. Senate That Public Companies Should Be Allowed To Use International Accounting Standards
The American Institute of Certified Public Accountants told a U.S. Senate panel today that American public companies should be allowed to report their financial results using international accounting standards.

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