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AICPA Launches Facilitated State Board Access Program

The Hawaii Society of CPAs is participating in the AICPA Peer Review Facilitated State Board Access (FSBA).

Be Ready When GAAP Is Codified on July 1

July 1 will be a landmark day for the accounting profession as the Financial Accounting Standards Board (FASB) Accounting Standards CodificationTM (ASC) will become the authoritative source of nongovernmental accounting literature (in addition to SEC pronouncements).

FASB Accounting Standards CodificationTM to Officially Launch on July 1, 2009

On July 1, 2009, the Codification becomes the official single source of authoritative nongovernmental U.S. GAAP.

Implementing Section 7216

For purposes of the revised section 7216 regulations (which became effective on January 1, 2009), CPAs should understand that, in general, they will not need to obtain written consents from their clients in the normal course of providing tax return preparation services and any related tax planning or accounting services.