TIC Advocacy

Advocacy-PCPS Technical Issues Committee 

TIC Alerts (e-newsletters)
Provides news about new and proposed accounting, auditing, compilation/review and ethics standards.

TIC Comment Letters
Comment letters with informed recommendations submitted by TIC, in support of private firms.



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


Committee meeting table

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.

Get Involved!
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.

Meetings
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:

  • January 10 and 11, 2017, Fort Lauderdale, FL (TIC’s annual liaison with the ASB)
  • 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)

 

Recent Developments








FASB ED, Proposed Accounting Standards Update Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services, a consensus of the FASB Emerging Issues Task Force
In the comment letter, TIC comments on FASB ED, Service Concession Arrangements: Determining the Customer of the Operation Services. TIC agrees with the main objective of the ED to eliminate diversity in practice on how an operating entity determines the customer of the operation services for transactions within the scope of FASB ASC 853.







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.

AICPA Technical Hotline
The AICPA Technical Hotline is free and provides prompt, high-quality technical assistance by phone concerning issues related to: accounting principles and financial reporting; auditing, attestation, compilation and review standards
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