Abstract
This paper presents a detailed examination of the AICPA code of conduct that AICPA members are expected to follow. The writer explores the various elements of that code and analyzes their importance as they pertain to ethics and fraud. The writer also examines the impact of the code on the profession and the pros and cons of suggested solutions.

From the Paper
"The AICPA does not allow any member to disobey or break the local, state, federal laws of the land in conducting the daily business of finance for a client but instead sets additional and narrowly defined boundaries indicating the importance of ethical conduct and confidentiality within the field.
"The AICPA specifically outlines many different ethical considerations and provides the guidelines for the CPA member to follow in the course of his or her daily routines.
Items including whether or not a CPA can publicly disclose the names of clients, or whether the CPA can use information gained during the course of the day to further personal agendas are addressed as well as what to do if a client request that the CPA conduct business in a manner inconsistent with local, state or federal laws.
"The AICPA has worked to address most issues that can come up in the professional setting of a CPA profession and then designed a framework for the CPA member to follow with regard to those situations."

Tags:importance, elements, understanding, design, impact, solutions

Abstract
The paper discusses the PCAOB that was created to give oversight to the AICPA. The paper explains how while this was a blow to the accounting profession, the AICPA chose to work positively with the oversight board. The paper relates that now, some EU countries are considering oversight boards of their own.

From the Paper
"The Public Company Accounting Oversight Board (PCAOB) was created by the Sarbanes-Oxley Act, passed by the U.S. Congress after the major company Enron declared unexpected bankruptcy. In the investigation of that company's downfall, it came to light that the Public Accounting Company that was supposed to be auditing their financial statements was actually advising them on how to get around the rules and falsify their financial statements. Apparently, the professional peer review system was inadequate to the task..."

Tags:aicpa, pcaob, sarbanes-oxley, international, business, europe, union

Abstract
This paper presents an analysis of auditing as the process by which assertations are tested. It also discusses financial accounting for public companies that is performed in accordance with the AICPA's auditing standards under the direction of the PCAOB.

From the Paper
"Auditing is the process by which an independent outside body attests to the reasonableness claims made by an organization or individual. It involves collecting evidence that either support or refutes the claims made, determining the likelihood that there is a misstatement and judging how large that misstatement might be. This process helps to convince users of the information that the claims can be trusted. When dealing with corporations there are three main types of auditing. The first is financial. All corporations that have publicly traded stock must file..."

Tags:aicpa sec sarbanes oxley pcaob independent auditor public company government, accounting

Abstract
This paper discusses auditor independence and disclosure and how they are strengthened by the Security and Exchange Commission (SEC). The paper discusses how, taken together, Sections 201 and 202 of the Sarbanes-Oxley Act in conjunction with Rule 101-3 of AICPA look to define the limits of independence of auditors. It also describes the purpose of the acts, as well as their exclusions.

Table of Contents:
Introduction
Assuring Auditor Independence in Section 201
Evaluating Non-Audit Services In Section 201
Summary

From the Paper
"In defining Section 201 the SEC looked at factors that could potentially impede the independence of auditing firms. These factors were considered in the context of collusion, conflict of interest and the potential for influencing accounting of financial results to positively influence auditing results (Anandarajan, Kleinman, Palmon, 2008). The SEC considered all non-audit services and centered on nine specific service areas that are considered to be the most potentially damaging and limiting to auditor independence (Gramling, Karapanos, 2008)."

Tags:AICPA, valuation, actuarial

Abstract
This paper discusses the proper accounting treatment for goodwill under GAAP, and specifically under the Financial Accounting Standards Board's FASB 142. The author addresses the views of the FASB as well as the SEC and the AICPA about this new method of accounting for intangible assets. The paper states that goodwill and other intangible assets may no longer be amortized over a specified hypothetical useful life or using straight line amortization.

From the Paper
"The Financial Accounting Standards Board FASB statement on goodwill and other intangible assets addresses how intangible assets that are acquired individually or with a group of other assets should be accounted for in the acquiring company's financial statements subsequent to their initial recognition. Under FAS, goodwill and certain intangible assets will no longer be amortized over a specified hypothetical useful life. In addition, goodwill and other intangible assets will no longer be amortized using straight line amortization meaning the amount of amortization will probably not be ..."

Tags:Accounting treatment of goodwill, intangible assets, SEC, FASB, AICPA, SFAS, FAS 142

Abstract
This paper explains if accounts and financial statements are not maintained, then a check on the company?s profit and loss or simple money expenditures cannot be analyzed. The author points out that, even though a check on an organization?s financial statement is kept by the accounts department, it is important that the managers understand and keep a check on these reports. The paper relates that members of a health care organization can make use of the guidelines put forward by the AICPA to evaluate the financial statements.

From the Paper
"Healthcare organizations deal with a huge mass of people every day. The cash flow statements, the profit and loss account and the balance sheet unveil the potency and feebleness of such organizations. Budgeting can be easily accomplished with the help of financial statements. Budgeting allows healthcare organizations to plan and utilize people's resources, productive aptitude and finance to the fullest."

Tags:aicpa, profit, loss, expenditures, managers

Abstract
This paper analyzes the effect the new risk assessment standards (SAS 104-111) will have on upcoming audits. The paper explains that the standards were put in place by the AICPA Auditing board to enhance audit quality and are to take place for all audits for a period that begins after December 15, 2006. The paper also points out that these standards will affect the way audits are conducted and will place a larger focus on areas considered riskiest and most susceptible to financial statement misstatement. The paper then evaluates why these changes were made, what these changes are, the impact these changes will have on audit firms, audit clients, and all the way audits will change including fees, scheduling and test works. In conclusion, the paper establishes that these standards have a large impact on how audits are conducted and how these standards will try to make audits more efficient and financial misstatements less common.

Table of Contents:
Introduction
Literature Review
Why What and How of SAS 104-111
How to Manage Effects of New Standards
Discussion
Final Comments

From the Paper
"The fall season has often been the slow part of the year for auditors and audit clients with financial statements and tax returns out of the way, but this year has been different mainly due to the implementation of the Risk Assessment Standards SAS 104-111. The main change due to these standards is that companies no longer have to simply gain an understanding of internal controls of significant transaction classes, but now have to evaluate internal controls and create custom programs based on these evaluations to test these significant areas. This has resulted in firms calling clients and telling them that their fees may increase by 30 percent compared to years previous. This has also resulted in more preliminary work on audits being done during the planning phase of the audit. The way audits are completed will likely never be the same because of these standards."

Tags:certified, accountant, financial, statement, evaluate

Abstract
In this article, the writer explains that the Certified Public Accountant (CPA) statutory title is conferred on accountants qualified by passing the Uniform Certified Public Accountant Examination. The writer points out that the Generally Accepted Auditing Standards (GAAS) are a set of ten auditing standards developed in 1947 by the American Institute of Certified Public Accountants (AICPA), referring to general standards, standards of field work and standards of reporting. The writer discusses that the general auditing standards state that the person or persons performing the audit must have adequate technical training and proficiency as an auditor. In addition, the writer notes that the auditor must keep at all times an independent mental attitude; and finally, professional care must be exercised when planning and performing the audit and when preparing the report.

From the Paper
"Other requirements needed to be fulfilled for a license as a CPA are stated in Section 7404, Article 149, Title 8 of New York's Education Law: in the first place, an application must be filed with the department; then, after the candidate's education and experience have been found satisfactory, a written examination must be passed; also, the fees issue must not be forgotten, as a two hundred twenty dollars fee must be paid to the department for admission to a department conducted examination and a one hundred fifteen dollars fee for each reexamination for an initial license, and also a two hundred ten dollars fee for each triennial registration period."

Tags:accountants, CPA, control, auditing

Abstract
This essay involves collecting and summarizing research in regard to a specific company or industry that has experienced an accounting issue. The focus of the essay is United Airlines, but it could have been applied to any other major airline. The main research comes from the December 1991 story by Charles W. Taylor entitled, "Airline Accounting: AICPA versus FASB," which was in the December "CPA Journal Online". The paper incorporates an analysis of the company, industry, and the account issue with the author's personal opinion of the subject matter. A large portion of the paper focuses on the impact on investors and other stakeholders and also presents insights into the opinions of the article's author.

From the Paper
"One solution that has made investors and stakeholders very happy was for the airlines to offer frequent flier miles and other reduced fairs. United's frequent-flier program, Mileage Plus, grew significantly, due to the continued success of partnerships such as First USA Mileage Plus Visa and Master Card, MCI WorldCom and E*TRADE. Revenue from third-party mileage sales reached $107 million during the first quarter, representing an 18 percent increase over the same period last year. Recently, United and Safeway launched Grocery Miles -- the largest partnership between a national grocer and an airline -- which allows customers at nearly 1,300 U.S. stores to earn frequent-flier miles in United's Mileage Plus program for their grocery purchases. (PR News Wire, 2000) As bankruptcy looms, frequent flier miles have become a major topic of discussion. But these frequent flier miles were an accounting problem as far back as 1990 and 1991."

Tags:financial, reports, economic, crisis, american, delta, continental, price, fuel, terrorism

Abstract
This paper reviews the roles and effects of (a) the SEC, (b) the IRS, (c) the FASB, (d) the GASB, (e) the AICPA, and (f) the IASB on accounting practices in the United States, with some attention given to residential mortgage service companies.

From the Paper
"This research examines the role of six governmental professional and international organizations that affect the accounting practices of firms operating within the United States ..."

Tags:Financial, accounting, standards, GAAP