SEC Chairman William H. Donaldson resigned on June 30, 2005, more than two years after President George W. Bush appointed him to the post. At press time, the president had nominated Rep. Christopher Cox (R-Calif.) as Donaldson’s successor, subject to confirmation by the Senate.

The AICPA governing council approved a resolution to return the PCPS acronym to the full title it had replaced: Private Company Practice Section ( ). Council also affirmed the section’s principle mission of helping practicing CPAs and their firms succeed.

The AICPA is accepting nominations until August 31, 2005, for distinguished public service awards to individual CPAs and firms. Institute members, state societies and associations of firms are eligible to submit nominations. Information is available from Jay Rothberg (212-596-6005; ); an overview, guidelines and nomination forms can be downloaded at .

The JofA won a Trade Association Business Publication International (TABPI) 2005 Tabby Award for its Fraud Beat column, which earned honorable mention among nearly 700 editorial and design entries from around the world.


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.