International


The International Accounting Standards Board (IASB) exposed a draft memorandum of understanding on the role of accounting standard setters and their relationships with the board ( www.iasb.org/uploaded_files/ ). The agreement identifies the responsibilities of the IASB and other standard setters to foster the adoption of, or convergence with, international financial reporting standards. Comments are due July 29, 2005.

The International Organization of Securities Commissions, the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, the World Bank and the Financial Stability Forum established the Public Interest Oversight Board (PIOB) to oversee the International Federation of Accountants’ standard-setting activities relating to audit performance, auditor independence and ethics, audit quality control and assurance and education ( www.ifac.org/downloads/inauguration_of_PIOB.pdf ).

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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.

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Maximizing the higher education tax credits

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