Federal Issues

Financial Literacy and Education 

The Congressional and Political Affairs team regularly works with lawmakers and federal officials to promote financial literacy through all stages of life.  In particular, the team supports legislative and executive branch efforts, such as those through the Treasury Department’s Office of Consumer Policy, the Financial Literacy and Education Commission and the President’s Advisory Council on Financial Capability.

The Institute also works closely with state CPA societies to promote education around the country.  Learn more about the AICPA’s award winning programs here:


Staff Contacts

Diana Huntress Deem
Director, Congressional and Political Affairs
202.434.9276
ddeem@aicpa.org

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IFRS - GAAP Convergence

Article International Financial Reporting Standards (IFRS) set by the International Accounting Standards Board (IASB) in London is a response to worldwide demand from regulators, investors, businesses, and auditing firms for a single set of high-quality, globally-accepted accounting standards.
Published on August 19, 2016

ERISA Fiduciary Definition - Appraisers of Employee Stock Ownership Plans

Article The AICPA believes that the U.S. DOL should implement rules that would require appraisers of ESOPs to meet minimum qualification requirements, including holding relevant credentials and training, and comply with applicable professional valuation standards.
Published on August 18, 2016

Department of Labor Overtime Rule

Article The Department of Labor (DOL) announced its final rule related to overtime pay. Under the new rule, the standard salary threshold will double from $455 per week to $913 per week. This amounts to a change in an annual salary from $23,660 to an annual salary of $47,476. Further, the
Published on August 17, 2016

Tax Legislation and Policy

Article The Congressional and Political Affairs Team often assists the Tax Team with tax legislation and policy issues, and advocates about them to Members of Congress and other key policymakers on behalf of the profession.
Published on August 12, 2016

Preserving the Cash Basis Method of Accounting for CPA Firms

Overview The AICPA is opposed to certain provisions included in tax reform proposals that would limit the availability of the cash basis method of accounting.
Published on July 22, 2016

Federal Legislative and Regulatory Issues

Federal Law This page highlights the advocacy issues in which the Congressional & Political Affairs Team is advocating on behalf of the profession, and also those issues that the team has recently followed.
Published on May 24, 2016

Letter from Senate Democrats to Department of Labor February 2016

Legislative Letters Letter of support from Senate Democrats, encouraging Secretary Lew to work swiftly in implementing the Department of Labor proposed overtime rule on February 29th, 2016.
Published on May 24, 2016

May 2016, Cash Coalition Letter to the Senate Finance Committee

Legislative Letters Cash Coalition letter to Senate Finance Committee on cash basis method of accounting 5-10-2016
Published on May 11, 2016

April 2016, Letter to Senate Finance Committee from the AICPA

Legislative Letters AICPA letter for the record to the Senate Finance Committee on hearing entitled “Navigating Business Tax Reform.” The letter encourages the committee not restrict the use of the cash basis method of accounting for pass-through entities.
Published on May 10, 2016

PPWO Letter of Support S. 2707 4.18.16

Legislative Letters Coalition letter sent in support of Senate bill S. 2707 blocking the proposed Department of Labor Overtime Rule.
Published on April 27, 2016

PPWO Letter of Support H.R. 4773 4-18-16

Legislative Letters Coalition letter sent in support of the House Bill H.R. 4773 blocking the proposed Department of Labor Overtime Rule.
Published on April 27, 2016

PPWO Letter to the Hill re Overtime Rule 12-7-15

Legislative Letters Coalition letter opposing the Department of Labor Overtime Rule.
Published on April 27, 2016

AICPA Comments on Proposed Revision of the Employer Information Report (EEO-1)

Comment Letter AICPA's comments in response to the proposed revision of the Employer Information Report advanced by the EEOC to collect summary pay data separated by gender, race, and ethnicity.
Published on April 22, 2016

Congressional and Political Affairs Advocacy

Overview The AICPA monitors and advocates on legislative and other matters that affect the accounting profession. Working with state CPA societies and other professional organizations, the AICPA provides information to and educates federal, state and local policymakers regarding key issues.
Published on December 15, 2015

AICPA Comment Letter to DOL Regarding Proposed Overtime Rule

Comment Letter Comments in response to the DOL July 6, 2015 Notice of Proposed Rulemaking to amend the FLSA exemptions from minimum wage and overtime requirements for executive, administrative, professional, outside sales, and computer employees.
Published on September 24, 2015

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