FYI


Four practitioners began two-year terms with the SEC in April, serving as professional accounting fellows in the Office of the Chief Accountant: Robert J. Comerford, a senior manager in Deloitte & Touche’s New York office; Russell P. Hodge, a senior manager in Ernst & Young LLP’s Atlanta office; and John M. James, a director, and Chad A. Kokenge, a senior manager, both in PricewaterhouseCoopers’s Florham Park, New Jersey, office. They will study and develop rule proposals under federal securities laws. Their duties also include communicating with professional accounting and auditing standard-setting bodies and consulting with SEC-registered companies on accounting and reporting matters. The SEC founded the fellowship program in 1972.

Clarification
In the April issue of the JofA , an Inside AICPA item, “Trust Services Principles, Criteria Added to Professional Literature” (page 94), failed to mention that the new trust services principles and criteria framework, which encompasses the WebTrust and SysTrust services, is available for free at www.aicpa.org/assurance/index.htm . The framework is effective for engagements beginning April 1.

SPONSORED REPORT

The technology assessment engagement

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FEATURE

Maximizing the higher education tax credits

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