Editorial Staff

Publisher/Editor-in-Chief
Colleen Katz

Managing Editor
Elizabeth Uva

Senior Editors
Laura Baron,
Katharine W. Coveleski,
Peter D. Fleming,
Michael Hayes,
Robert Tie

Senior Assistant Editor
Sarah Cobb

Assistant Editor
Vincent Nolan

Contributing Editors
Anita Dennis, Lesli S. Laffie
Joan Mancuso,
Barbara J. Shildneck,
Stanley Zarowin

Production Director
Peter M. Tuohy 

Art Director
Jeryl A. Costello

Production Manager
Gene Cioffi

Senior Manager—
Production Services—
Publishing Technology
Robert DiCorcia

Production Editor
D. Hillel Lofaso

Senior Production Associates
Valrie Mason, Ingrid Medina

Art Assistant
Patricia L. Arrington

Associate Publisher
Thomas R. Greve

Advertising Team Manager
Karin DeMarco

Advertising Representatives
Joseph Torres, Kurt Weber

Advertising Coordinator
John Weinberg

Editorial Offices
201-938-3292
e-mail: joaed@aicpa.org

Advertising Office
201-938-3767

Classified Ads
Russell Johns Associates, Inc.
1-800-237-9851
e-mail: joa@rja-ads.com

Highlights

TASK FORCE MAKES RECOMMENDATIONS ABOUT COUNCIL’S FUNCTIONS
The seven-person group of AICPA members appointed in February to study the role and responsibilities of the Institute’s governing body sent its findings to council in September.

As part of its analysis, the task force solicited comments from AICPA members and studied various facets of council’s governance and structure, as well as that of five national professional associations it considered similar to the Institute. It also reviewed the AICPA’s 1990 Report of the Special Committee on Governance and Structure and staff studies on how state societies elect their council members. At press time, council was scheduled to discuss the report at its fall meeting. Should council adopt the recommendations, it may have to change some of the Institute’s bylaws and council resolutions.

Timothy O’Brien of Colorado headed the task force; other members were Theodore Flynn of Massachusetts, Lisa Germano of Virginia, Donald Gursey of California, Jeffrey Hoops of New York, Mary Kline-Cueter of Michigan and Scott Nelson of Iowa. Five of the group are current or former council members, one never served on council and one is a state society executive director.

These were the task force’s recommendations:
Council members should reaffirm their roles as leaders and trustees of the profession and should sign a statement of responsibilities upon accepting their position.

Once council has been thoroughly briefed on an issue, has deliberated and acted on it as a body, each member should publicly uphold the view the entire council has endorsed.

The AICPA board of directors should explore ways to provide council with more timely and comprehensive information, including both pro and con perspectives, on issues under discussion.

There should be a mechanism for council members—in advance of meetings—to suggest items for board and council agendas.

New council members should receive more extensive orientation training.

Council proceedings customarily should include breakout sessions and electronic polling.

Council should reduce the number of its full meetings from two to one and increase its regional meetings from one to up to three.

When council is not in session, its members should be able to vote by electronic ballot.

Every council meeting should have a forum open to all AICPA members, giving them an opportunity to voice their opinions on the Institute and the profession.

Members of council should receive the briefing binders currently distributed to the board of directors on important issues.

Council should adopt a resolution urging the state societies to elect their council members through a democratic process that ensures greater diversity in representation.

To provide an opportunity for more members to serve, a council member’s term should be two years, with a maximum of six consecutive years.

New council members should be elected at the spring meeting and assume their positions on August 1—the first day of the AICPA’s fiscal year.

Attendance at council meetings should be mandatory, and any member who misses three consecutive meetings should forfeit the seat.

The report is available at www.aicpa.org/download/members/report_task_force.pdf.

GASB ED PROPOSES CHANGES TO FINANCIAL STATEMENT DOCUMENTATION
In September GASB released an exposure draft, Economic Condition Reporting: The Statistical Section, that would update requirements for the supporting information state and local governments present with their annual financial statements. The board said the modifications would reflect changes in government finance, which include various types of outstanding debt introduced over the last 25 years. The proposed standards would become effective for periods beginning after June 15, 2005. The ED is available from GASB’s order department at 800-748-0659 or online at http://store.yahoo.com/gasbpubs/ge56.html. Comments are due November 28.

Editorial Advisers

Catherine R. Allen, Kenneth D. Askelson, James Bean, Phyllis Bernstein, John C. Boma, Jacob R. Brandzel, Steven J. Brown, Jolene C. Brucks, Thomas F. Burrage, Linda Burt, J. Gregory Bushong, R. Patrick Cargill, Benson J. Chapman, Rosemarie T. Dunn, Thomas Emmerling, Elizabeth Fender, Robert J. Freeman, John S. Gibbons, Alan Glazer, Randi K. Grant, Patrick T. Hanratty, DeAnn Hill, James E. Hunton, Frank J. Kopczynski, Jeffrey B. Kraut, Dennis B. Kremer, William F. Laurie, Alan Levin, John Lewison, Joseph P. Liotta, Mano Mahadeva, Benjamin F. Mathews, David McIntee, Anita Meola, Debra Mitchell, Roger H. Molvar, Brenda Morris, Craig Murray, Lyne P. Noella, Edward T. Odmark, Stanley Person, Mary P. Ricciardello, Mark L. Richardson, Marshall B. Romney, Peggy Scott, Carolyn Sechler, Gary Shamis, Ivan J. Sotomayor, Alan Steiger, Paul C. Sullivan, Gary R. Trugman, Robert Willens, Mark A. Yahoudy