Litigation Pleading Standards
AICPA Position Congress is considering the Notice Pleading Restoration Act, S. 1504, introduced by Senator Arlen Specter, a Pennsylvania Democrat, and Open Access to Courts Act, H.R. 4115, introduced by Representative Jerrold Nadler, a New York
Published on March 02, 2010
Aiding and Abetting Liability
The AICPA supports leaving the enforcement for aiding and abetting with the SEC, not outsourcing the enforcement to plaintiff’s lawyers.
Published on September 24, 2012
American Bar Association vs. Federal Trade Commission
The AICPA has a direct interest in the outcome of this litigation. The AICPA’s members, like attorneys, are engaged in a professional practice. Also, like attorneys, certified public accountants typically engage in invoiced billing of their clients, allowing their clients...
Published on September 30, 2010
Tellabs Inc. v. Makor Issues & Rights, Ltd.
The present case concerns the pleadings standards established by the Private Securities Litigation Reform Act of 1995 (PSLRA). In the PSLRA, Congress required securities-fraud plaintiffs to plead particularized facts leading to a "strong inference" that each defendant acted, or failed to...
Published on April 14, 2010
Extraterritorial Private Rights of Action, also known as F-Cubed Litigation
The accounting profession believes private litigants may utilize U.S. securities laws within the territorial jurisdiction of the U.S. and that the United States Supreme Court decision in Morrison v. National Australia Bank, Ltd. is the correct reading of the Securities Exchange Act of 1934.
Published on April 03, 2013
AICPA Supports State Tax Tribunal Model Legislation
The CPA Advocate: August, 2012. The AICPA supports model legislation as a resource for state CPA societies whose legislatures are interested in creating or modifying an independent state tax tribunal.
Published on August 17, 2012
House and Senate Bills to Curb Patent Trolls Include AICPA Recommendations
The House Judiciary Committee on November 20 voted to send H.R. 3309, the Innovation Act, to the full House. The chairman of the Senate Judiciary Committee, meanwhile, introduced comparable legislation, S. 1720, the Patent Transparency and Improvements Act, in the Senate on November 18. These bills would help curtail abusive
Published on November 26, 2013
Bankruptcy Services, Inc. v. Ernst & Young, Ernst & Young LLP
The AICPA is deeply concerned about the Panel's unduly expansive view of the adverse interest exception to imputation. The New York courts have carefully balanced an injured party's interest in recovering damages with fair limits on accountants' liability. The Panel's decision threatens to upset that balance and expose accountants to broadly expanded
Published on April 09, 2010
State Tax Tribunals
This is the AICPA paper on state tax tribunals. It was developed as a resource to state CPA societies as the various states consider this issue.
Published on September 23, 2013
Williamson v. PricewaterhouseCoopers LLP
Neither the Institute nor the New York State Society has an interest in the particular dispute between these litigants. However, because of their (1) extensive understanding of the accounting profession and, in particular, the role of an independent auditor, and (2) commitment to the public interest, the Institute and State Society are gravely concerned about the lower
Published on May 03, 2010