FYI


The board of trustees of the Financial Accounting Foundation (FAF) appoints Robert H. Attmore chairman of the Governmental Accounting Standards Board (GASB). He succeeds Tom L. Allen, who served as GASB chairman since 1995. Attmore is president of Attmore & Associates, Albany, New York, a consulting firm serving government agencies and other entities. Prior to that he held various posts during a 23-year career in New York state government. FAF’s board oversees the activities of GASB and FASB.

The AICPA establishes an audit committee effectiveness center ( www.aicpa.org/audcommctr ) that features an online system enabling CPAs to register as potential audit committee members and allowing organizations to search for qualified candidates. The center also offers audit committees guidance and various resources, such as a toolkit of checklists, questions, reports and guidelines to ensure they use best practices when fulfilling their responsibilities.

The SEC appoints Andrew D. Bailey Jr. its deputy chief accountant. Recently a chaired professor of accounting at the University of Illinois at Urbana-Champaign, Bailey is past president of the American Accounting Association. He will share with Scott A. Taub, current deputy chief accountant, responsibilities for day-to-day operations in the office of the chief accountant.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

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Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.