In order to modernize the profession’s rules on independence, the AICPA professional ethics executive committee adopts revisions to the financial interest and family relationship provisions under rule 101, Independence . The new requirements, which take an engagement-team-focused approach to independence, apply to all parties that are in a position to influence the engagement—an interpretation the SEC and the International Federation of Accountants support. Further, the committee adopts revisions to an interpretation under the statements on standards for attestation engagements (SSAE) permitting a modified application of rule 101 for certain engagements in which restricted-use reports are required ( ).

The SEC seeks to fill four professional accounting fellow positions in the Office of the Chief Accountant. During their two-year terms, which will commence in June 2002, successful candidates for these positions will study and develop rule proposals under federal securities laws, interact with professional accounting standard setters and advise registrants on accounting and financial reporting issues. Applications are due by December 14, 2001 ( ).


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.