AICPA

Advances in computer testing for the CPA exam have brought about changes in the timing of when the scores are released, according to the AICPA. Starting fourth quarter, 2011, those whose test results are received by the AICPA within the first 20 days of the testing window are expected to get their results 10 business days after the end of day 20 in the testing window, with scores released Nov. 3.

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In a unanimous vote on May 23, the AICPA Council approved a motion to partner with the London-based Chartered Institute of Management Accountants (CIMA) to create a new international management accounting credential, the AICPA announced in a press release.

The AICPA announced today a proposed partnership with the London-based Chartered Institute of Management Accountants (CIMA) that would lead to the creation of a new, as-of-yet unnamed, international management accounting credential.

The holidays have come a little early for CPAs with the news that they are now permanently exempt from the Federal Trade Commission’s (FTC) Red Flags Rule, an act created to thwart identity theft by narrowing the scope of who is considered a ‘creditor,’ reports Accounting Today.

A blue-ribbon panel composed of representatives from the National Association of State Boards of Accountancy (NASBA), the Financial Accounting Foundation (FAF) and the AICPA have, after meeting for the fifth time on Dec. 10, reaffirmed its initial recommendation that there should be a separate standards setting board responsible for private company accounting issues.

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.

Three in four CPAs are pessimistic about U.S. business conditions being able to bounce back to pre-recession levels until 2012 or later, according to the latest Quarterly Economic Outlook Survey released by the AICPA and the University of North Carolina’s Kenan-Flagler Business School.

A state Senate bill that would allow for CPA cross-border practice mobility in New York and is based on the model legislation, Uniform Accountancy Act (UAA) Section 23, moved out of a Senate committee May 24 and is on the Senate floor for a third reading.

The implementation of new identity theft protection rules by the Federal Trade Commission that were scheduled to go into effect today have, instead, been delayed for the fifth time, this time to Dec. 31, 2010.