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Issue Monitoring

Regulatory Reform
Senate compromise reportedly scraps stand-alone consumer agency

IFRS
SEC delays IFRS convergence until 2015 – or later

FIN 48
Uncertain tax positions reporting proposal extended to June 1

Ohio budget reform
OSCPA Forum highlights state budget solutions

Fair value
Defined as exit price

More Issue Monitoring

Event Information
	Upcoming Events
	CPAs in Business Webinar - Retirement Plans That Work Ohio Society of CPAs Dublin, OH Akron ABC Forum - Akron/Canton Foodbank: Feeding People & Portage Country Club Akron, OH XBRL Level 1 - The Next Evolution in Financial Reporting Webinar Virtual, OH North Central Monthly Meeting - Social Security for 2010 James W Kehoe Center Shelby, OH North Central Monthly Meeting - Social Security for 2010 James W Kehoe Center Shelby, OH Adobe Acrobat for Accountants Level 1 Webinar Virtual, OH Adobe Acrobat for Accountants Level 2 Webinar Virtual, OH Corporate CPAs Conference Crowne Plaza Columbus North Columbus, OH Columbus Tax Club University Plaza Hotel Columbus, OH Adobe Acrobat for Accountants Level 3 Webinar Virtual, OH

Latest News

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This week in the news
SEC delays IFRS convergence until 2015 (or later)...Members of Blue-Ribbon Panel to address private company standards announced...Senate nearing deal on financial regulatory reform
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The Ohio Legislator's Guide to 2009 Taxes
This annual guide has been updated to help Ohio legislators complete their 2009 income tax returns. The guide answers frequently raised questions about income tax laws that specifically affect members of the Ohio General Assembly. View the 2009 Legislator's Tax Guide

CPAs Outline Financial Strategies to Governor Strickland
On Nov. 6, OSCPA's Ohio Budget Advisory Task Force presented recommendations to Governor Ted Strickland for addressing Ohio's financial challenges. Download the report. View the State of Florida's Long Range Financial Outlook 2007 and 2008 reports.

CPA Voice
Replacing Catalyst, CPA Voice is a monthly, printed news publication covering the latest news and trends impacting Ohio CPAs and businesses, plus Society news and events. Get complete details on article submissions and subscriptions to CPA Voice and view the current issue online!

Senate compromise scraps stand-alone consumer protection agency
A stand-alone Consumer Financial Protection Agency has been scrapped in a reported compromise deal between Democrats and Republicans on the Senate Committee on Banking, Housing and Urban Affairs.

IRS extends moratorium on tax-shelters penalties
The IRS extended its moratorium on collecting penalties for failing to report certain transactions considered to be tax shelters until June 1, 2010.

Should the Comptroller General be a CPA?
AICPA has contacted members of the House of Representatives supporting new legislation requiring the Comptroller General of the United States to be a CPA.

FASB's independence at stake in debate over financial regulatory reform
The SEC's oversight of FASB and the independent standard-setting process appears to be back on the table in the U.S. Senate as the two parties attempt to reach a compromise over financial regulatory reform.

New Blue Ribbon Panel will focus on private company accounting standards
The names of the 18 individuals who will comprise the Blue Ribbon Panel on Private Company Accounting were released this week. The group was established to formally address how U.S. accounting standards can best meet the needs of users of private company financial statements.

IRS will require practitioners to advocate for disclosure of return positions
An editorial from E. Lynn Nichols, CPA
The heat is on tax practitioners! Regulators and lawmakers responding to irresponsible tax advice from CPAs and attorneys who were believed to be reputable have produced a steady stream of new rules and regulations regarding disclosure and responsibility for tax return information.

Performance audit bill unanimously passes in Ohio Senate
OSCPA-supported legislation mandating performance audits for state agencies passed the Ohio Senate in a unanimous vote.

Ohio Society's Legislative Victories
The Society's governmental affairs team keeps the business interests of CPAs in Ohio front and center with Ohio's legislative bodies. We work closely with Ohio's legislators to provide them with the insight and education necessary to understand the complex issues facing our profession.

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