Institute Helps Mark IFAC Anniversary

AICPA President and CEO Barry Melancon participated in a panel discussion on future business reporting models at the International Federation of Accountants’ 2007 council meeting, held in Mexico City in November. The meeting, titled “The Financial Reporting Environment in the 21st Century,” was part of a celebration marking the 30th anniversary of IFAC’s founding.

In his presentation, Melancon noted that today’s financial reporting world requires four critical elements: heightened communications between investors and companies; more information than is currently available; answers to investors’ questions; and reduced complexity and greater transparency.

Representatives of the Institute of Chartered Accountants in England and Wales and the Chartered Institute of Management Accountants were also on the panel. The discussion was moderated by Robert Bunting, former AICPA chairman and current IFAC deputy president.

More than 200 people from IFAC member bodies and the Mexican accounting profession attended the seminar, which also covered the state of public-sector financial reporting and effective regulation.

IFAC’s anniversary celebration culminated with World Accountancy Week (Dec. 2–8), and included the World Accountancy Forum, held Dec. 4 in New York.

The AICPA was one of IFAC’s founding member bodies.


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.