What is the PCPS Technical Issues Committee (TIC)?
TIC is a committee of CPA practitioner volunteers working to represent the views of local firms and their clients in the standards-setting process.
What is TIC’s Charge?
TIC monitors the activities of the various standard setting boards (FASB, GASB, ASB) and other AICPA Senior Committees and, when appropriate, TIC submits comments and recommendations to the standard setters as the collective voice of small and medium-sized firms
TIC provides standards-setters with practical assistance as well; such as "field testing" portions of proposed guidance, providing practical examples of potential implementation difficulties and serving on standard-setting task forces.
TIC also helps firms keep up with the latest technical standards – a top challenge for small firms according to the most recent PCPS Top Issues Survey – through the Technical Issues Alert. The TIC Alert reports on selected new and proposed standards developed by accounting, auditing, ethics, government and other key standard setters that are especially relevant to local firms and private entities. It also alerts practitioners to available non-authoritative guidance and potential changes in practice.
If you have questions, local firm advocacy issues or suggestions for TIC, let us hear your voice. Kristy Illuzzi, CPA, CGMA, is the AICPA’s TIC Staff Liaison and can be reached by email. You can also volunteer to serve on the TIC Committee. More information about volunteer opportunities is available here.
TIC meetings offer local practitioners the chance to provide their unique perspectives in the standard-setting process. All CPAs are invited to attend. Future meeting dates are:
- May 4 and 5, 2017, Washington, DC (TIC liaison with PCPS Executive Committee)
- July 11-13, 2017, Norwalk, CT (TIC liaison with FASB, GASB, and PCC)
- September 26-27, 2017, Coronado, CA
- November 14-15, 2017, Charleston, SC (TIC liaison with ARSC)
|GASB ED, Exposure Draft of a Proposed Statement, Omnibus 201X
In the comment letter, TIC comments on GASB ED of a proposed statement, Omnibus 201X. TIC agrees with the objective of this ED to address practice issues identified during implementation of certain GASB Statements. This proposed statement addresses a variety of those topics including component unit presentation, goodwill, fair value measurement and application, and various postemployment benefits.