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December 28, 2012
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  Top Story 
Save 20% on select Clarified Auditing Standards publications (offer ends 12/31): New auditing standards are now effective for engagements beginning on or after 12/15/12. Are you prepared? AICPA can help with publications, CPE courses & webcasts. Save 20% on select publications thru 12/31. Use promo code UAQ at checkout. Visit
  Financial Focus 
AICPA Holiday Sale on now!
Save 20% on orders of $150+ on CPE, publications & webcasts; save 5% on select conferences. To claim discount, enter promo code WINTER12 at checkout. Ends 11:59pm ET 1/2/13. Discount good for multiple purchases. Cannot be combined with other offers or applied to prior purchases/registrations or group registrations. > Shop Now
  A&A Report 
  • Special dividends could require option expense charges
    Companies paying special dividends to shareholders before year-end because of the "fiscal cliff" may also have higher expenses in relation to employee stock option plans that could require a charge in the earnings report. That is because special dividends can make employees' stock options less valuable and companies sometimes opt to make up the difference by giving employees cash. At that point, depending on the language in the compensation plan, companies may have to record additional expense charges for the payout. The Wall Street Journal/CFO Journal (tiered subscription model) (12/26) LinkedInFacebookTwitterEmail this Story
  Tax Spotlight 
  • IRS modifies mandatory language for consent to disclose or use taxpayer information
    Following yesterday's final regulations on tax return preparers' use and disclosure of taxpayer information, the Internal Revenue Service has modified the mandatory language that practitioners must use when requesting permission to disclose or use tax return information. The IRS revenue procedure includes mandatory statements that must be included and rules for electronic signatures when a taxpayer executes an electronic consent form. (12/27) LinkedInFacebookTwitterEmail this Story
  Advisory Services 
  • More investors, employers turn to advisers for 401(k) help
    Participants in 401(k) plans are increasingly seeking help from financial advisers as they try to navigate their plans and maximize returns. In addition, more advisers are working with plan sponsors, helping them manage their plans, make improvements and meet legal obligations. Experts say demand for advisers working in both capacities will increase. The Wall Street Journal (12/27) LinkedInFacebookTwitterEmail this Story
  Market Update 
  Policy & Regulatory 
  International View 
  • ECB maintains vow that bond buying comes with conditions
    European Central Bank Governing Council member Luc Coene said Thursday that it will maintain its bond-buying conditions. The ECB will only buy possibly limitless amounts of bonds if a member nation applies to the eurozone bailout fund. Reuters (12/27) LinkedInFacebookTwitterEmail this Story
  Emerging Technology 
  • 3 IT challenges to plan for in 2013
    The global IT governance organization ISACA is drawing attention to three trends it says will "pose major challenges to businesses" in 2013. Cybersecurity threats are growing more sophisticated; interest in private or hybrid clouds, rather than public clouds, is expected to increase; and employees and consumers are growing more concerned about data privacy. CGMA Magazine (12/27) LinkedInFacebookTwitterEmail this Story
  AICPA News 
  • Free webinar: Take Charge of Your Financial Future
    In light of financial uncertainty caused by the "fiscal cliff," a weak economy and ongoing tax changes, this New Year is the perfect opportunity to set goals and proactively plan for your financial future. This is your money and your life; now is the time to turn your focus to creating or updating your comprehensive personal financial plan, including retirement, estate, tax, investment and insurance planning. In this webinar, to be held 1 to 2 p.m. ET on Jan. 4, leading practitioners will take you through a plain English discussion on taking charge of your financial future and setting short- and long-term financial goals so that you can achieve your dreams. Register now. LinkedInFacebookTwitterEmail this Story

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The American Institute of Certified Public Accountants is the world’s largest association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125 year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation to elevate management accounting globally.

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