Academic journal article Journal of Accountancy

AICPA Council Authorizes Bylaw, Code Changes and Member Vote on Key Issues

Academic journal article Journal of Accountancy

AICPA Council Authorizes Bylaw, Code Changes and Member Vote on Key Issues

Article excerpt

The AICPA council approved a change to the council resolution under Rule 505 -- Form of Organization and Name of the AICPA Code of Professional Conduct to bring it in line with approved changes in the Uniform Accountancy Act by providing that only a simple majority of a firm's owners must be CPAs. (See "Council Proceeds With Sweeping Regulation Reform," JofA, Aug. 97, page 13.)

Council approved changes to the implementing resolutions under by-law section 2.3.3 to provide for uniformity, flexibility and innovation in deriving methods of learning and measurement of the continuing professional education requirement. One of the resolutions states that compliance with CPE requirements can be achieved by any means, "however measured, that would be reasonably expected to maintain professional competencies in the member's area of practice or employment." There will be no required annual minimum of CPE, just a total for three years. Members in business and industry will have to earn 120 hours in a three-years. Members in business and industry will have to earn 120 hours in a three-years. Members in business and industry will have to earn 120 hours in a three-year period, up from the current 90. These CPE changes will not take effect until January 1, 2001. …

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