For single-click access to further coverage of the news stories listed here, visit the Journal of Accountancy Web site at www.aicpa.org/pubs/jofa/joahome.htm .

For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites.

The AICPA staff issued Technical Information Service (TIS) 9110.15, a practice aid on auditor “certification” of the cost reports that health care organizations sometimes must submit as a condition of participation in Medicaid, Medicare and other third-party reimbursement programs ( www.aicpa.org/download/members/ ). Practitioners are encouraged to implement the guidance as soon as possible.

The Institute reorganized and updated an AICPA audit and accounting guide, Government Auditing Standards and Circular A-133 Audits, for conforming changes as of May 1, 2004 ( www.aicpa.org/members/div/auditstd/ ). Its former title was Audits of States, Local Governments, and Not-for-Profit Organizations Receiving Federal Awards. Copies (product no. 012744JA) are available from the AICPA at 888-777-7077 or www.cpa2biz.com .

The PCAOB staff issued a second set of questions and answers on Auditing Standard no. 2, An Audit of Internal Control Over Financial Reporting Performed in Conjunction with an Audit of Financial Statements ( www.pcaobus.org/documents/staff_q_and_a/ ). The first was published in June 2004 ( www.pcaobus.org/qa_staff_internal_control.pdf ).

The International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) released two exposure drafts (EDs) and a discussion paper intended to improve the quality and consistency of audits. One ED, Clarifying Professional Requirements in International Standards Issued by the IAASB ( www.ifac.org/Guidance/EXD-Details.php?EDID=0033 ), addresses the need to eliminate ambiguous language in the standards. Comments on it and a related discussion paper— Improving the Clarity and Structure of IAASB Standards and Related Considerations for Practice Statements, which examines the need to change the IAASB’s method of drafting standards—are due December 31, 2004. The other ED proposes revisions to International Auditing Standard (ISA) 230, Audit Documentation ( www.ifac.org/Guidance/EXD-Details ), that would, among other effects, clarify the form, content and extent of such documentation. Comments on this ED and on related amendments to other ISAs are due January 31, 2005.

IFAC commissioned a study, Challenges and Successes in Implementing International Standards: Achieving Convergence to IFRSs and ISAs ( www.ifac.org/Store/Details.tmpl?SID=10957196043618091 ), that identifies important issues in adopting and using international financial reporting standards (IFRSs) and international standards on auditing (ISAs) and makes recommendations for facilitating convergence to each.

The Financial Advisor agreed to publish a correction of erroneous information that appeared in its September issue about the AICPA’s personal financial planning division ( www.aicpa.org/download/pfp/ ). In addition the magazine’s editors agreed to print a letter from the AICPA and to highlight in an upcoming issue the activities of the PFP membership section. The AICPA continues to support the PFP specialty practice area—which includes the membership section and the Personal Financial Specialist (PFS) credential program—and is building a stronger community of financial planners, enhancing member competencies and increasing communications and outreach to this important group. Information about the practice area and the credential is available at www.aicpa.org/pfp .

The Committee of Sponsoring Organizations of the Treadway Commission (COSO), of which the AICPA is a founding member, published Enterprise Risk Management—Integrated Framework ( www.coso.org/publications/ ), which describes risk management components, principles and concepts for organizations of all sizes. Built on the foundation of COSO’s Internal Control—Integrated Framework, which many U.S. entities are using to guide their Sarbanes-Oxley compliance efforts, the risk management framework explains valuable techniques that boards of directors, senior corporate managers and others can use to both protect and enhance organizational assets. The new framework (product no. 990015JA) is available at www.cpa2biz.com . Orders for 10 or more copies should be made at 888-777-7077.

A Department of Labor publication, Selecting an Auditor for Your Employee Benefit Plan ( www.dol.gov/ebsa/pdf/selectinganauditor.pdf ), identifies the AICPA Employee Benefit Plan Audit Quality Center ( www.aicpa.org/ebpaqc ) as a resource for companies whose plans have 100 or more participants. Under the Employee Retirement Security Income Act (ERISA), such plans must be audited annually by an independent qualified public accountant. The center lists CPA firms that have joined to demonstrate their commitment to performing high-quality pension plan audits.

The Securities and Exchange Commission (SEC) released its 2004–2009 strategic plan ( www.sec.gov/strategicplan ). It identifies the values and goals on which the commission will base its activities during the next five years, describes related SEC initiatives and discusses how the commission might monitor progress.

David M. Walker, U.S. comptroller general, appointed Robert F. Dacey, CPA, the Government Accountability Office’s chief accountant. In his new position, Dacey also serves as a member of the Federal Accounting Standards Advisory Board.

The Financial Accounting Foundation (FAF) appointed Donald M. Young, managing director of Young & Company, to membership on the Financial Accounting Standards Board, effective January 1, 2005 ( www.fasb.org/news/nr101404.shtml ). Young will complete the term of Gary S. Schieneman, who has resigned and whose term would have ended June 30, 2008. Robert E. Denham, FAF chairman, said Young’s combination of skills and experience offers “a valuable user perspective.”

The SEC selected H. David Sherman, CPA, as an academic accounting fellow in the Division of Corporation Finance for a one-year term. Among other duties he will address issues involving difficult and unusual accounting, auditing and financial reporting questions, as well as review filings by public companies to identify significant accounting and disclosure problems.