FYI


  Robert Hirth, CPA, a founding managing director of global consulting firm Protiviti, was named chairman of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). He will serve a three-year term. David Landsittel, COSO’s former chairman, stepped down at the end of May after leading the committee through an update of its popular internal control framework, which was released in May.

  Terry Warfield, Ph.D., chair of the University of Wisconsin–Madison’s Accounting & Information Systems department, was named to the FAF board of trustees. Warfield served as the academic accounting fellow in the SEC’s Office of the Chief Accountant from 1995 to 1996, and has been a member of the Financial Accounting Standards Advisory Council (FASAC), the principal advisory body to FASB.

  Sue Lloyd, a former member of the Australian Accounting Standards Board, has been appointed to serve as a member of the IASB. She currently serves as senior director of technical activities at the IASB. Her appointment follows board member Prabhakar Kalavacherla’s notification that he will retire Dec. 31 at the end of his five-year term.

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Maximizing the higher education tax credits

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

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