For news from the AICPA and state societies, visit www.cpaweb.org, which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.

SBA earns high marks for internal control framework (www.sba.gov/news/current01/01-08.txt).

Debt requirements set for banks with financial subsidiaries (federalreserve.gov/boarddocs/press/boardacts/2001/20010119/default.htm).

OCC releases privacy obligations advisory for banks (www.occ.treas.gov/ftp/advisory/2001-2.doc).

Survey shows that banks are raising their loan standards (federalreserve.gov/boarddocs/snloansurvey/200102/fullreport.pdf).

Labor department rule bolsters security of small pension plans (www.dol.gov/dol/pwba/public/media/press/pr101900.htm). Effective April 17.

FASB issues employee compensation guidance (www.rutgers.edu/accounting/raw/fasb/eitf/eitfissu.html#00-23).

FASB issues an exposure draft on accounting for goodwill (www.rutgers.edu/accounting/raw/fasb/news/nr021301.html). The comment period ended March 16.

Accounting for financial asset transfers, servicing addressed in FASB report (accounting.rutgers.edu/raw/fasb/project/125summary.html#Q&A).

SEC issues final rule that says mutual funds must disclose after-tax returns (www.sec.gov/rules/final/33-7941.htm). Effective April 16.

Money launderers duping banks, says Senate report (www.senate.gov/~gov_affairs/020501_psi_minority_report.htm).

Treasury to garnish delinquent borrowers’ SSA benefits (www.ssa.gov/enews/debtpayment.htm).

Bush plan to invest SSA funds gives SEC commissioner pause (www.sec.gov/news/speech/spch459.htm).

GASB user guides explain government financial statements (www.rutgers.edu/accounting/raw/gasb/pub/userguides.html).

EU wants all listed companies to use international accounting standards by 2005 (www.iasc.org.uk/news/cen8_193.htm).

G4+1 shuts down as IASB starts up (www.rutgers.edu/accounting/raw/fasb/IASC/g4+1jan01.html).

IASC establishes international accounting standard-setting board (www.iasc.org.uk/news/cen8_511.htm).

U.K.’s audit board seeks feedback on standards convergence handbook (www.asb.org.uk/publications/publication320.html). Comments are due by April 30.

Financial Reporting Council reviews U.K. accounting issues (www.frc.org.uk/annual-download.html).

International accounting firms to develop global quality standard for audits (www.ifac.org/news/lastestreleases.tmpl?nid=9799199815767).

IFAC releases draft accounting standards for governments (www.ifac.org/news/lastestreleases.tmpl?nid=980442395109304). Comments are due by May 31.

IFAC study compares national and international accounting rules (www.ifac.org/news/lastestreleases.tmpl?nid=9799211986238).

Ernst & Young merges with China’s largest accounting firm (www.ey.com/GLOBAL/gcr.nsf/US/02-08-01_Release_-_News_Room_-_Ernst_&_Young_LLP).

SEC acts to improve mutual fund directors’ independence (www.sec.gov/rules/final/34-43786.htm). Effective February 15.

SEC adjusts civil penalty amounts for inflation (www.sec.gov/rules/final/33-7946.htm). Effective February 2.

FASB decides to end pooling-of-interests accounting method (www.rutgers.edu/accounting/raw/fasb/news/nr012401.html).

New charter for Public Oversight Board increases its powers, staff and funding (not yet posted on POB Web site). Effective February 9.

Privacy advocates petition legislators for their support on tough standards (www.epic.org/privacycoalition/coalition_press_release.html).

IIA sponsors report on audit committee best practices (www.theiia.org/ecm/bookstore.cfm?doc_id=1257).

GAO appoints new members to auditing advisory council (Not yet posted on GAO Web site).

New members appointed to FASB (www.rutgers.edu/Accounting/raw/fasb/news/nr_schipper.html; www.rutgers.edu/Accounting/raw/fasb/news/nr_wulff.html).

Bush names SEC Commissioner Unger as acting chairman (www.sec.gov/news/press/2001-20.txt).

Labor department sets up a toll-free information line for filers of benefit plan form 5500 reports (www.dol.gov/dol/pwba/public/media/press/pr022601.htm).