Professional Issues


SEC Chairman Harvey L. Pitt calls for the commission’s greater influence over FASB to ensure it addresses urgent topics and issues standards more swiftly than it has. He also says the commission will quickly establish a private-sector regulatory body—composed largely of individuals independent of the accounting profession—to replace the Public Oversight Board. And reaffirming the importance of effective corporate governance, Pitt says, the SEC is asking Congress for the power to bar officers and directors—if guilty of serious malfeasance or nonfeasance—from similar positions in other public companies. ( www.sec.gov/news/speech/spch540.htm )

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.