Paul V. Stahlin Chosen to Serve as AICPA Chair

The governing council of the AICPA has elected Paul V. Stahlin, 58, who formerly served on the institute’s board of directors as well as numerous committees, to chair the organization for the 2010-2011 year, a decision reached during the council’s fall meeting on Oct. 19. Stahlin, who is also the former head of the New Jersey Society of CPAs, said that he wants to focus on tax issues during his tenure, particularly the implementation of the IRS’s tax return preparer registration system.

“We’ve raised critical questions and have succeeded in protecting CPAs from unnecessary and duplicative testing and CPE. We continue to ask for additional guidance on extending similar treatment to non-signing preparers. Preventing confusion among consumers remains a priority as well.”

He also called private company financial reporting one of the “most important accountant issues we will face during the next year.” Drawing upon his own experience as both a financial executive and an auditor, Stahlin said that too much of the content in private company financial statements prepared under U.S. Generally Accepted Accounting Principles “is not relevant to the owner, not relevant to the user and not relevant to the preparers.” The AICPA is part of the Blue Ribbon Panel on Private Company Standards along with the National Association of State Boards of Accountancy and the Financial Accounting Foundation. This panel recently recommended the creation of a new standard-setting model with exceptions for private companies as well as the creation of a separate private company standards board.

Stahlin also said that the AICPA plans to launch a new International Financial Reporting Standards certificate program demonstrating knowledge and competency in applying the standards.