PICPA Boards and Blogs

By Thomas Rees, CPA Few accounting rules have caused financial statement preparers and their auditors more headaches than Statement of Financial Accounting Standards No. 133 (SFAS 133), Accounting for Derivatives and Hedging Activities. The Financial Accounting Standards Board (FASB) has amended SFAS 133 several times since its initial issuance ...

By Jonathan S. Ziss, JD In virtually every type of business, data is received, processed, stored, transported, and otherwise disseminated in digital form via electronic media. In the accounting profession, digital data is ubiquitous. As a result, laptops and hand-held PDAs are essential productivity tools of the trade. And due to advances in ...

By Dmitri D. Shiry, CPA Section 404 of the Sarbanes-Oxley Act was designed to have a long life. Like anything with an extended life cycle, it seems the regulation is growing and maturing with age. Auditing Standard No. 5 (AS 5), a new rule from the PCAOB, may change how Section 404 is perceived by corporate America and acted upon by management ...

By Jack Greenberg, CPA Sarbanes-Oxley looms large over the accounting profession. So large, in fact, that Sarbanes-Oxley compliance and internal controls work may have overshadowed dozens of other risks facing your, or your client’s, enterprise.CPAs are in an ideal position to identify and analyze different types of risk, and to act as change ...

By J. Stephen McNally, CPA The fifth anniversary of the Sarbanes-Oxley Act has passed, and many continue to argue whether or not the benefits of the legislation outweigh the related costs. Although there is no clear answer to this yet, does it even matter? Establishing and maintaining strong internal controls over financial reporting and ...