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In the News: Women to Watch, Financial Literacy, CPE

A recent AccountingWEB article spotlights the Women to Watch Program, an effort of the AICPA’s Women’s Initiatives Executive Committee, which will be honoring women who have made significant contributions to the accounting profession and to the development of women. Candidates are nominated by their peers and firm. Award winners will be honored at events sponsored by their CPA societies. "The women who are selected for the Women to Watch awards have made some outstanding or unique contribution to the profession. They have been successful in integrating their personal and professional lives. They are more visible because of the awards. They become role models. They prove it can be done," added Yasmine El-Ramly of the AICPA.

Uncertainty in the stock market has continued to make headlines in the last week. A Los Angeles Times article quoting Michael Eisenberg, CPA/PFS, and former member of the AICPA’s National Financial Literacy Commission noted that millions of small investors are having trouble finding a strategy to save for retirement and many have not yet recouped the losses from 2008. The result is that many investors are "much more averse to risk than they thought they were, especially after what happened three years ago," Eisenberg said. One strategy is to make sure your retirement portfolio is diversified so that rapid declines in one area do not overwhelm your savings with losses.

Mike Cohn of Accounting Today reports that the AICPA wrote a comment letter to the IRS urging that it should avoid requiring pre-approval of continuing education courses as part of its tax preparer regulation efforts. The article points out that the AICPA praised the IRS for dropping an earlier proposal that would have required CPE providers to obtain pre-approval from the IRS before they could offer continuing education courses to the public. “We believe that by not mandating a course-by-course pre-approval process, the IRS will ensure that continuing education courses are timely and that the ultimate system for monitoring course quality will allow the IRS to effectively manage its limited resources,” AICPA Tax Executive Committee chair Patricia Thompson wrote in the letter.

If you come across a recent article of note about the profession, please let me know in the comments section or send me an email.

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