Section 404(b) of Sarbanes-Oxley Act of 2002
The Sarbanes Oxley Act requires that the management of public companies assess the effectiveness of the internal control of issuers for financial reporting. Section 404(b) requires a publicly-held company’s auditor to attest to, and report on, management’s assessment of its internal controls. AICPA...
Published on April 03, 2013
House Financial Services Panel Looks at Dodd-Frank Whistleblowing Rules
...Advocate: May, 2011. Deloitte Deputy CEO and Vice-Chairman Robert Kueppers testified at House hearing that accounting profession is cocnerned Dodd-Frank Act does not take into account SOX internal reporting requirements
Published on September 02, 2011
Federal Legislative and Regulatory Issues
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 October 28, 2014
Employee Benefits Tax Advocacy
This section contains AICPA comment letters pertaining to legislative matters in employee benefits taxation.
Published on October 14, 2013
Financial Regulatory Reform
Responding to the 2007-2009 financial crisis, Congress debated comprehensive financial regulatory legislation that would address systemic risks, provide U.S. regulators with new resolution authorities and create a new consumer financial protection bureau. Listed in this article are specific provisions in the pending legislation, and potential amendments that concern the accounting
Published on February 04, 2013
AICPA Letter Helps Persuade COSO to Postpone Release of Internal Control Framework
...June, 2012. AICPA told COSO its updated framework will be valuable to practitioners, but recommended additional guidance on how to consider weaknesses or absences of a principle when evaluating internal control effectiveness
Published on June 12, 2012
AICPA Comments on Proposed Revisions to GAOs Green Book
The CPA Advocate: March, 2014. The AICPA’s major recommendation is that GAO more closely align the Green Book language to COSO “except for situations where the government environment is truly different.”
Published on March 27, 2014
AICPA and NASBA Release New UAA to Protect the Public Interest States Move to Implement Attest Language
The CPA Advocate: June, 2014. The AICPA is strongly committed to working with state CPA societies, NASBA and state boards of accountancy to see definition of attest legislation passed as soon as possible in all U.S. states and jurisdictions that don’t have language similar to the new UAA language.
Published on June 24, 2014
Audit, Attest, and Quality Control ASB Comment Letters
ASB comment letter to other organizations.
Published on September 15, 2014
Using Family Partnerships and Refuting IRS Challenges
This is an article highlighting the AICPA's position concerning the legitimate use of family partnerships. In particular, the AICPA takes exception with the IRS's refusal to recognize for transfer tax purposes the validity of many family partnership's under examination.
Published on September 19, 2012