Accounting


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.

Testifying before the House Financial Services Committee on behalf of the profession, AICPA President and CEO Barry C. Melancon backs reforms—including creating a new private-sector regulatory board—to restore investors’ confidence in the nation’s financial reporting system. And Chairman James G. Castellano, with other leaders of the profession, urges the Senate Banking Committee to support measures that would enhance audit quality and make corporations accountable for issuing accurate financial reports and being truthful with auditors. Meanwhile, FASB Chairman Edmund L. Jenkins addresses the prospect of greater government oversight of the standard-setting process in a position paper, The FASB’s Role in Serving the Public: A Response to the Enron Collapse ( www.fasb.org ), reiterating the importance to investors and the U.S. capital markets of preserving the board’s role as an independent, private-sector standard setter not subject to the political pressures a government body—such as the SEC—faces.

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.