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Will the Red Wings Need
Game 5? Still Time to Get Discounted Tickets for Saturday’s Playoff Game
MACPA members may still purchase discounted tickets for Saturday night’s
Game 5 of NHL Round 1 Playoffs at the Joe Louis Arena. The Wings have scored
victories in the first two home games, and now travel to Columbus for Games
3 and 4. It’s a best of seven series. If the Wings return to Detroit for a
Game 5 on Saturday, April 25, MACPA members can take advantage of our
special partnership with the Detroit Red Wings by saving on ticket prices
while generating a substantial donation to support accounting scholarships!
With $5 per ticket being donated back to the
Michigan Accountancy
Foundation, the total donation so far is more than $2,300! For more details
and the link to get tickets while they last, members should log on to the MACPA website and visit the
“Partners with Champions” page.
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More Americans Concerned
About Losing Their Jobs, Delaying Major Life Decisions Amid Recession: AICPA
Poll
Job security emerged as a top financial
concern for Americans amid a 16-month U.S. economic recession, according to
a poll conducted by Harris Interactive on behalf of the AICPA. Nearly five
in 10 employed Americans – 47 percent – said they are “concerned” about
losing their jobs soon. Fifteen percent said they were “somewhat” concerned
and 10 percent said they were “very concerned.” Nationwide the U.S.
unemployment rate is currently 8.5 percent, according to the Department of
Labor, and is expected to rise. Read
more.
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GASB Statement
Codifies Accounting and Financial Reporting Guidance Contained in the AICPA
Standards
The Governmental Accounting Standards Board (GASB) issued Statement No. 56,
Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing Standards. This Statement incorporates
accounting and financial reporting guidance previously only contained in the
AICPA auditing literature into the GASB’s accounting and financial reporting
literature for state and local governments. The Statement 56 guidance
addresses three issues from the AICPA’s literature – related party
transactions, going concern considerations, and subsequent events. Statement
56 is part of the GASB’s effort to codify all generally accepted accounting
principles for state and local governments so that they derive from a single
source. This is intended to make it easier for preparers of state and local
government financial statements to identify and apply relevant accounting
guidance. Read more.
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Michigan Treasury
Adds to MBT FAQs
On April 16, 2009, the Michigan Department of Treasury released additional
questions and answers on the Michigan Business Tax. The new FAQs are
available
online. The FAQs can be reviewed chronologically or by subject area.
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PCAOB Issues Concept
Release on Possible Revisions to the Standard on Audit Confirmations
The Public Company Accounting Oversight Board (PCAOB) issued for public comment a
concept release on possible revisions to the standard on audit
confirmations, AU sec. 330, The Confirmation Process. Confirmation is an
audit process by which an auditor obtains and evaluates a direct
communication from a knowledgeable third party in response to a request for
information regarding account balances, transactions or other items that
comprise a company's financial statements.
Read
more.
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Public Company
Accounting Oversight Board Names New Chief Auditor
The Public Company Accounting Oversight Board (PCAOB) has named Martin F.
Baumann as Chief Auditor and Director of Professional Standards. Baumann
joined the PCAOB in 2006 and was Director of the Office of Research and
Analysis. The principal responsibility of the Chief Auditor is to advise the
Board on the establishment of auditing and related professional standards.
Baumann had a 33-year career at PricewaterhouseCoopers where he served as
Deputy Chairman of the World Financial Services Practice, Global Banking
Leader, and partner-in-charge of the audits of some of PwC’s largest
clients. Read
more.
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