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Find just what you need, when you need it, with Thomson Reuters Checkpoint®. You’ll have the right tools no matter what the day may bring — exactly what you need to get your job done, faster, easier and with greater confidence. Call 800.950.1216 today or visit us online.
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- Five hurdles for the Balanced Scorecard
David Norton, one of the fathers of the Balanced Scorecard, sees five major challenges facing performance management systems in the bid to remain effective. Speaking at a CGMA event marking the Balanced Scorecard's 20th anniversary, Norton said the key to the framework's longevity has been its ability to adapt to changes in the broader economy. At another event in the anniversary series, Balanced Scorecard co-founder Robert Kaplan explained how poor cost measurement is plaguing the U.S. health care system and what can be done to fix it. CGMA Magazine
(11/6)     
 | AICPA Resources on the Clarified Auditing Standards
Prepare now for the transition to the clarified standards, which are effective for calendar year 2012 audits, with guidance directly from the AICPA. Available resources include AICPA publications, CPE self-study courses, webcasts and conferences. > Visit cpa2biz.com/sasclarity
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- PCAOB makes progress on China corporate audit issue
The Public Company Accounting Oversight Board has made progress with China on the issue of joint inspections of corporate audits, says PCAOB Chairman James Doty. The PCAOB has completed observations of Chinese regulators' inspections of auditors and Doty expects to begin talks on access to audit documents by the end of the year. Reuters
(11/8)
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| Policy & Regulatory | | |
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- Regulators cool to industry's money funds plan
Federal regulators are not bowled over by the money market industry's proposal to head off government-imposed rules. The industry has suggested a fee for those who withdraw money during a crisis. The Securities and Exchange Commission fears it could trigger bank runs and that the measure could do more to protect investors. The Wall Street Journal
(11/8)
- Cyberattack concerns emerge at SEC
Some staffers in the Securities and Exchange Commission's Trading and Markets Division left their computers open to cyberattacks, sources say. The computers contain highly sensitive stock exchange information, and the staffers failed to encrypt the devices. The SEC's Interim Inspector General is poised to release a report about the security lapses. Reuters
(11/8)
| AICPA News | | |
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Free webinar with CPE credit offered on proposed financial reporting framework for smaller enterprises
Last week, the AICPA released for public comment the Proposed Financial Reporting Framework for Small- and Medium-Sized Entities. The self-contained special purpose framework would enable privately owned smaller enterprises to produce more relevant and less complex financial statements when U.S. GAAP is not required. Comments are due Jan. 30. To help members learn about the proposal, the AICPA is hosting a free, one-hour webinar (offering 1 CPE credit) from 11 a.m. to 12 p.m. ET on Nov. 16. For details and resources on the proposal, visit aicpa.org/FRF-SMEs.
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Register for the webcast that teaches how to lead your clients during disastrous times
The effects of Hurricane Sandy will be felt for years to come and cost billions of dollars. It may also be leaving your clients with the task of rebuilding. Join CPA disaster survivors and rebuilding experts as they share their experiences and guide you through the consultation, planning and rebuilding processes that will help clients anticipate future catastrophes. Register today for the webcast, State of Emergency: How the CPA Can Lead During Disastrous Times, to be held 12 to 1 p.m. ET on Nov. 16, and learn to create viable strategies for helping your clients rebuild and remain in the black as they move toward a more secure future.
| SmartQuote | | |
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 | Ideals are like stars ... you choose them as your guides, and following them, you will reach your destiny."
--Carl Schurz,
German-born American statesman
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| About AICPA |
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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| | Recent CPA Letter Daily Issues:
- Thursday, November 08, 2012
- Wednesday, November 07, 2012
- Tuesday, November 06, 2012
- Monday, November 05, 2012
- Friday, November 02, 2012
| | | Lead Editor: Tom Anderson
Contributing Editor: Erika Morphy
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