Accounting & reporting

FASB decides to end pooling-of-interests accounting method ( www.rutgers.edu/accounting/raw/fasb/news/nr012401.html ).

Privacy advocates petition legislators for their support on tough standards ( www.epic.org/privacycoalition/coalition_press_release.html ).

Money launderers duping banks, says Senate report ( www.senate.gov/~gov_affairs/020501_psi_minority_report.htm ).

New charter for Public Oversight Board increases its powers, staff and funding (not yet posted on POB Web site). Effective February 9.

Debt requirements set for banks with financial subsidiaries ( federalreserve.gov/boarddocs/press/boardacts/2001/20010119/default.htm ). OCC releases privacy obligations advisory for banks ( www.occ.treas.gov/ftp/advisory/2001-2.doc ). Survey shows that banks are raising their loan standards ( federalreserve.gov/boarddocs/snloansurvey/200102/fullreport.pdf ).

Labor department rule bolsters security of small pension plans ( www.dol.gov/dol/pwba/public/media/press/pr101900.htm ). Effective April 17.

FASB issues employee compensation guidance ( www.rutgers.edu/accounting/raw/fasb/eitf/eitfissu.html#00-23 ). FASB issues an exposure draft on accounting for goodwill ( www.rutgers.edu/accounting/raw/fasb/news/nr021301.html ). The comment period ended March 16. Accounting for financial asset transfers, servicing addressed in FASB report ( accounting.rutgers.edu/raw/fasb/project/125summary.html#Q&A ). SEC issues final rule that says mutual funds must disclose after-tax

For news from the AICPA and state societies, visit www.cpaweb.org , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. SBA earns high marks for internal control framework ( www.sba.gov/news/current01/01-08.txt ).

SEC adjusts civil penalty amounts for inflation ( www.sec.gov/rules/final/33-7946.htm ). Effective February 2.

GASB user guides explain government financial statements ( www.rutgers.edu/accounting/raw/gasb/pub/userguides.html ).

IIA sponsors report on audit committee best practices ( www.theiia.org/ecm/bookstore.cfm?doc_id=1257 ). GAO appoints new members to auditing advisory council (Not yet posted on GAO Web site). New members appointed to FASB ( www.rutgers.edu/Accounting/raw/fasb/news/nr_schipper.html ; www.rutgers.edu/Accounting/raw/fasb/news/nr_wulff.html ). Bush names SEC Commissioner Unger as acting chairman ( www.sec.gov/news/press/2001-20.txt ). Labor department sets

EU wants all listed companies to use international accounting standards by 2005 ( www.iasc.org.uk/news/cen8_193.htm ). G4+1 shuts down as IASB starts up ( www.rutgers.edu/accounting/raw/fasb/IASC/g4+1jan01.html ). IASC establishes international accounting standard-setting board ( www.iasc.org.uk/news/cen8_511.htm ). U.K.’s audit board seeks feedback on standards convergence handbook ( www.asb.org.uk/publications/publication320.html ). Comments are due by

SEC acts to improve mutual fund directors’ independence ( www.sec.gov/rules/final/34-43786.htm ). Effective February 15.