FASB

2012 U.S. GAAP Financial Reporting Taxonomy Adopted and Supported by SEC Effective March 26, 2012

Norwalk, CT, March 27, 2012—The U.S. Securities and Exchange Commission (SEC) has adopted the 2012 non-governmental U.S. GAAP Financial Reporting Taxonomy, the Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) announced today. [READ MORE]
  FAF Publishes Learning Guide for the FASB Accounting Standards Codification® Research System Norwalk, CT, March 21, 2012—The Financial Accounting Foundation (FAF) today published the Learning Guide for the Codification Research System, a new resource for subscribers who want to use the Financial Accounting Standards Board's (FASB) online Accounting Standards Codification's features more effectively and efficiently. [READ MORE]
FASB Responds to Financial Accounting Foundation's Post-Implementation Review Report on FIN 48 Norwalk, CT, March 20, 2012—The Financial Accounting Standards Board (FASB) today issued its response to the Financial Accounting Foundation's (FAF) Post-Implementation Review (PIR) Report on FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48). [READ MORE]
FASB Chairman Adds an Agenda Project on Defining "Nonpublic Entities" Norwalk, CT, March 7, 2012—The Financial Accounting Standards Board (FASB) has added to its agenda a project to re-examine the definition of a "nonpublic entity." The decision by FASB Chairman Leslie F. Seidman to add the agenda project was based on comments from stakeholders requesting clarification of the existing definitions and ongoing questions about which definition of a nonpublic entity was being used in various projects. [READ MORE]
SEC SEC Establishes New Supervisory Cooperation Arrangements with Foreign Counterparts Washington, D.C., March 23, 2012 — The Securities and Exchange Commission today announced that it has established comprehensive arrangements with the Cayman Islands Monetary Authority (CIMA) and the European Securities and Markets Authority (ESMA) as part of long-term strategy to improve the oversight of regulated entities that operate across national borders. [READ MORE]
  SEC Issues Risk Alert on Strengthening Practices for Underwriting of Municipal Securities, and Investor Bulletin on Municipal Bonds Washington, D.C., March 19, 2012 — The Securities and Exchange Commission today issued a Risk Alert on compliance measures to help broker-dealers fulfill their due-diligence duties when underwriting offerings of municipal securities. The agency also issued an Investor Bulletin to help educate investors about municipal bonds. [READ MORE]
  Availability of Staff Analysis of Market Data Related to Credit Default Swap Transactions

Washington, D.C., March 15, 2012 — The staff of the Securities and Exchange Commission today has made available publicly an analysis of market data related to credit default swap transactions. [READ MORE]

AICPA AICPA Announces Winner of Project Innovation The Start Here, Go Places. Competition of Creative Excellence

Durham, N.C. (April 2, 2012) – The American Institute of CPAs today crowned a team from Hoover High School in Hoover, Alabama, as winners of Project Innovation: The Start Here, Go Places.(R) Competition of Creative Excellence, which called upon high school students to submit ideas for a new feature on the Start Here, Go Places. website. [READ MORE]

  CGMA Global Economic Forecast Shows Cautious Optimism for the Year Ahead New York (March 29, 2012) – The world's CEOs, CFOs and other senior management accountants have a cautious, yet increasingly positive outlook for the global economy over the next 12 months, according to the first CGMA Global Economic Forecast released today by the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA). [READ MORE]
  Statement of AICPA President and CEO Barry C. Melancon before the House Capital Markets Subcommittee Accounting and Auditing Oversight Hearing Washington (March 28, 2012) – Barry C. Melancon, president and CEO of the American Institute of CPAs, told members of the House Subcommittee on Capital Markets and Government Sponsored Enterprises that the AICPA supports a strong, balanced and independent regulatory structure that protects investors but does not restrict the flow of capital. [READ MORE]
  AICPA Honors Top CPA Examination Performers with the Elijah Watt Sells Award The American Institute of CPAs has announced the winners of the 2010 Elijah Watt Sells Awards. [READ MORE]
  Opportunity Exists for CPAs to Better Leverage Emerging Technology, AICPA Survey Finds NEW YORK (Mar. 14, 2012) – Like other business professionals, CPAs continue to wrestle with the best strategy to maximize the benefits of emerging technologies, such as mobile devices and cloud computing, according to the 2012 Top Technology Initiatives Survey by the American Institute of CPAs. [READ MORE]
  Greater Optimism on U.S. Economy Raises Outlook to Post-Recession High NEW YORK (March 8, 2012) – Business executives are growing increasingly confident about prospects for the U.S. economy and their own organizations over the next 12 months, according to the first quarter AICPA Economic Outlook Survey, which polls chief financial officers, controllers and other certified public accountants in executive and senior management accounting roles. [READ MORE]
PCAOB PCAOB Investor Advisory Group to Meet March 28 The Public Company Accounting Oversight Board announced today that its Investor Advisory Group is scheduled to meet Wednesday, March 28, 2012, in Washington, D.C. [READ MORE]
PCAOB Phoebe Brown Named Secretary of the Public Company Accounting Oversight Board The Public Company Accounting Oversight Board today announced the appointment of Phoebe W. Brown as the Secretary of the Board. Ms. Brown will oversee the scheduling of the Board's open and closed meetings and preparing and maintaining records of Board actions. She also will be responsible for receiving and tracking documents filed with the Board, including comment letters on proposed rules and auditing standards. [READ MORE]
PCAOB PCAOB Announces Panelists and Schedule of Appearances for March 21-22 Public Meeting on Auditor Independence and Audit Firm Rotation The PCAOB today announced the panelists and schedule of appearances for its March 21-22 public meeting on ways to enhance auditor independence, objectivity, and professional skepticism, including through consideration of audit firm term limits. [READ MORE]
PCAOB PCAOB Invites Auditors of Brokers and Dealers to Participate in its 2012 Forum on Auditing Smaller Broker-Dealers The Public Company Accounting Oversight Board today announced that it will host the Forum on Auditing Smaller Broker-Dealers in Chicago, Houston, Jersey City, and San Diego in 2012. [READ MORE]
PCAOB PCAOB Addresses Emerging Audit Issues in the 2012 Forum on Auditing in the Small Business Environment The Public Company Accounting Oversight Board today announced the 2012 schedule and agenda for its first Forum on Auditing in the Small Business Environment. The forums, which are updated as new information becomes available, are designed to share important information about PCAOB activities with registered public accounting firms that have clients operating in the small business community. The first of seven events will be held in San Francisco, Calif., on Wednesday, May 2. [READ MORE]