SEC/AICPA announce




SEC and AICPA Announce Members of Independence Board

T he Securities and Exchange Commission and the American Institute of CPAs named the eight members of the Independence Standards Board (ISB), the new private-sector body charged to create, codify, amend and preserve independence standards for auditors of public companies.

The ISBs composition is divided equally between public members and CPAs. The ISB chairman, William T. Allen, director of the New York University Center for Law and Business and the former chancellor of the Delaware Court of Chancery, is one of the four public representatives. The other three are

Members representing the CPA profession include

  • Stephen G. Butler, chairman and CEO, KPMG Peat Marwick.
  • Philip A. Laskawy, chairman and CEO, Ernst & Young.
  • Barry C. Melancon, president and CEO, AICPA.
  • James J. Schiro, chairman and senior partner, Price Waterhouse.

Chairman Allen said he was eager to begin work with the board. "The formation of the ISB presents an opportunity to re-examine a vital issue of securities regulation," said Allen. The ISB is a part of the SEC practice section of the AICPA division for CPA firms and will be headquartered in the AICPA New Jersey office.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.