Professional accounting bodies

INKY Completes Audit to Strengthen Information Technology Compliance with SOC 2 Attestation

Retrieved on: 
Monday, April 20, 2020
Accounting, Business, Service industries, Professional accounting bodies, Internal audit, Deloitte, Certified Public Accountant, American Institute of Certified Public Accountants, Audit, Internal control

COLLEGE PARK, Md., April 20, 2020 /PRNewswire/ -- INKY Technology Corporation , the pioneer in next-gen email phishing protection, today announced completion of the Service Organization Control (SOC) 2 Type I audit of the company's internal controls and systems.

Key Points: 
  • COLLEGE PARK, Md., April 20, 2020 /PRNewswire/ -- INKY Technology Corporation , the pioneer in next-gen email phishing protection, today announced completion of the Service Organization Control (SOC) 2 Type I audit of the company's internal controls and systems.
  • The SOC 2 reporting standard is an auditing procedure widely recognized as the industry standard in adherence to security controls for service organizations.
  • Deloitte, the leading multinational professional services company, completed INKY's audit in compliance with the Trust Services Criteria developed by the American Institute of Certified Public Accountants ( AICPA ).
  • Headquartered in College Park, Maryland, INKY leads the industry in mail protection powered by unique computer vision, artificial intelligence, and machine learning.

AICPA Recognizes Top 2019 CPA Exam Performers with Elijah Watt Sells Award

Retrieved on: 
Friday, April 17, 2020
Professional services, Education, Other Professional Services, Finance, Other Education, Training, Accounting, Accounting, Business, Professional accounting bodies, Economy, Elijah Watt Sells, American Institute of Certified Public Accountants, Examinations, Certified Public Accountant, Uniform Certified Public Accountant Examination, National Association of State Boards of Accountancy

The American Institute of CPAs (AICPA) today announced the 133 winners of the 2019 Elijah Watt Sells Award.

Key Points: 
  • The American Institute of CPAs (AICPA) today announced the 133 winners of the 2019 Elijah Watt Sells Award.
  • Nearly 75,000 individuals sat for the CPA Exam in 2019 with 133 candidates meeting the criteria to receive the Elijah Watt Sells Award.
  • On behalf of the AICPA, Id like to commend the 2019 Sells Award winners for their impressive accomplishment, said Mike Decker, American Institute of CPAs vice president of examinations.
  • The Elijah Watt Sells Award program was established by the AICPA in 1923 to recognize outstanding performance on the CPA Exam.

AICPA Urges Additional Funding for Paycheck Protection Program

Retrieved on: 
Thursday, April 16, 2020
Finance, Congressional News, Views, Accounting, Public policy, Government, Professional services, White House, Federal Government, Public policy, Other Professional Services, Other Policy Issues, Economy, Accounting, Professional accounting bodies, Income statement, American Institute of Certified Public Accountants, Certified Public Accountant, Paycheck, Public–private partnership, Payroll

The American Institute of CPAs (AICPA) urges swift approval of additional funding for the Paycheck Protection Program (PPP), a crucial initiative under the CARES Act to provide relief for small businesses and their employees.

Key Points: 
  • The American Institute of CPAs (AICPA) urges swift approval of additional funding for the Paycheck Protection Program (PPP), a crucial initiative under the CARES Act to provide relief for small businesses and their employees.
  • Small businesses are the nations economic engine and supporting and stabilizing them is essential to our economic recovery.
  • This program was rolled out with remarkable speed and while there have been some bumps along the way, small businesses view the Paycheck Protection Program as a critical lifeline, said AICPA President and CEO Barry Melancon, CPA, CGMA.
  • Beyond additional funding, the AICPA also suggests allowing greater flexibility, with some appropriate restrictions on who is allowed to have this flexibility, on timing of the PPPs eight-week payroll support cycle.

AICPA’s Financial Literacy Program Offers Resources to Help Americans Weather Financial Impact of Coronavirus

Retrieved on: 
Tuesday, April 14, 2020
Finance, Consulting, Banking, Accounting, Professional services, Academic disciplines, Articles, Financial literacy, OECD, Professional accounting bodies, Literacy, Economy, American Institute of Certified Public Accountants, Information literacy

Americans are encouraged to take advantage of the free tools and resources available on the AICPAs 360 Degrees of Financial Literacy website to help them develop better money management skills and take control of their financial lives.

Key Points: 
  • Americans are encouraged to take advantage of the free tools and resources available on the AICPAs 360 Degrees of Financial Literacy website to help them develop better money management skills and take control of their financial lives.
  • The AICPAs 360 Degrees of Financial Literacy program has free resources to help Americans make sound financial decisions and understand their options during this critical time.
  • The AICPAs 360 Degrees of Financial Literacy Program is a nation-wide, volunteer grass-roots effort to help Americans develop a better understanding of money management and take control of their financial lives.
  • Financial Literacy is the cause of the CPA profession and the 360 Degrees of Financial Literacy program is the AICPAs flagship corporate social responsibility effort.

AICPA Applauds Additional Clarity in Treasury FAQ on Paycheck Protection Program

Retrieved on: 
Tuesday, April 7, 2020
Other Government, Human resources, Accounting, Public policy, Government, Professional services, Small business, White House, Federal Government, Other Professional Services, Other Policy Issues, Professional accounting bodies, Accounting, American Institute of Certified Public Accountants, Business, Certified Public Accountant, Small Business Administration, Economy, the American Institute of CPAs, the Association of International Certified Professional Accountants

The American Institute of CPAs (AICPA) praised the Treasury Department and Small Business Administration (SBA) for providing further clarity on the application process for the Paycheck Protection Program (PPP), the $349 billion small business relief program that is a key part of the CARES Act.

Key Points: 
  • The American Institute of CPAs (AICPA) praised the Treasury Department and Small Business Administration (SBA) for providing further clarity on the application process for the Paycheck Protection Program (PPP), the $349 billion small business relief program that is a key part of the CARES Act.
  • Treasury and the SBA posted an 18-point PPP FAQ with updated information last night.
  • The AICPA and its small business funding coalition have been advocating for additional clarity on certain provisions of the PPP, and this FAQ is critically important to help facilitate the funding of small businesses.
  • The AICPA plans to continue to provide updated recommendations and clarifications as it has been doing over the past week.

AICPA Recommends Lender Documents and Key Calculations to Use in PPP Applications

Retrieved on: 
Tuesday, April 7, 2020
Accounting, Professional services, Certified Public Accountant, Professional accounting bodies, Codes of Conduct, American Institute of Certified Public Accountants, the American Institute of CPAs, the Association of International Certified Professional Accountants

While not meant to be comprehensive, the AICPA recommendations cover documentation for employers and sole proprietors, as well as clarifications for other key areas.

Key Points: 
  • While not meant to be comprehensive, the AICPA recommendations cover documentation for employers and sole proprietors, as well as clarifications for other key areas.
  • We look to support that goal by helping create consensus and clarity around the key parts of the program.
  • Based on these collective discussions and our understanding of the intent of the PPP program, the AICPA is making the following broad recommendations for lender documents as well as providing direction on a few key calculations.
  • In addition to the AICPA recommendations, the institute has a resource page to assist CPA firms on PPP issues.

AICPA Offers Resources for CPA Firms Helping Small Businesses Access Paycheck Protection Program

Retrieved on: 
Monday, April 6, 2020
Professional services, Small business, Human resources, Finance, Consulting, Accounting, Professional accounting bodies, Accounting, Business, American Institute of Certified Public Accountants, Economy, Certified Public Accountant, Indiana CPA Society, Minnesota Society of Certified Public Accountants

The American Institute of CPAs (AICPA) is providing free resources to assist CPA firms supporting small businesses that have had their operations disrupted by the COVID-19 outbreak.

Key Points: 
  • The American Institute of CPAs (AICPA) is providing free resources to assist CPA firms supporting small businesses that have had their operations disrupted by the COVID-19 outbreak.
  • The federal Coronavirus Aid, Relief and Economic Security (CARES) Act includes the Paycheck Protection Program (PPP) to help more than 30 million U.S small businesses.
  • The Paycheck Protection Program will help strengthen American small businesses and ensure their employees are able to get paid, said AICPA President and CEO Barry Melancon, CPA, CGMA.
  • Weve developed resources to help the 44,000 CPA firms in the U.S. get their small business clients the assistance they need to get through these times.

AICPA Calls on Accounting Profession to Support Rollout of Small Business Relief Program

Retrieved on: 
Friday, April 3, 2020
Infectious diseases, Human resources, Finance, Banking, Accounting, Professional services, Public policy, Government, Small business, White House, Federal Government, Health, Income statement, Accounting, Economy, Professional accounting bodies, American Institute of Certified Public Accountants, Certified Public Accountant, Small Business Administration, Payroll, Paycheck, the American Institute of CPAs, the Association of International Certified Professional Accountants

The American Institute of CPAs (AICPA) praised the Treasury Department and Small Business Administration (SBA) for the fast rollout of the Paycheck Protection Program (PPP), a small business relief program that is a key part of the recently enacted $2.2 trillion economic stimulus package.

Key Points: 
  • The American Institute of CPAs (AICPA) praised the Treasury Department and Small Business Administration (SBA) for the fast rollout of the Paycheck Protection Program (PPP), a small business relief program that is a key part of the recently enacted $2.2 trillion economic stimulus package.
  • The $349 billion PPP program focuses on small businesses impacted by the coronavirus pandemic.
  • The government is effectively paying small business employees payroll costs for eight weeks to help fuel a quick recovery.
  • The AICPA organized a coalition that advocated for small business funding during the legislative process that culminated in the CARES Act.

Successful Completion of SOC Audits Demonstrates Vestmark's Ongoing Commitment to Clients' Data Security

Retrieved on: 
Wednesday, April 1, 2020
Accounting, Business, Economy, Sarbanes–Oxley Act, Professional accounting bodies, Internal audit, SSAE 16, Standards, Audit, American Institute of Certified Public Accountants, Information technology audit

18 (SSAE 18) Type II examination, which test an organization's controls and processes related to data security and accounting.

Key Points: 
  • 18 (SSAE 18) Type II examination, which test an organization's controls and processes related to data security and accounting.
  • As a result of these audits, Vestmark received Service Auditors' Reports demonstrating its procedures, controls, and infrastructure met or exceeded the SOC 1 and 2 criteria for data protection, confidentiality, security, and operational efficiency.
  • SOC 1 and SOC 2 are internationally recognized auditing standards developed by the American Institute of Certified Public Accountants (AICPA).
  • Vestmark continues to maintain one of the most robust data security programs in the industry, supported by excellent operational controls."

AICPA Says Senate’s $2 Trillion Economic Stimulus Bill is Great Step for Small Businesses and Employees

Retrieved on: 
Thursday, March 26, 2020
Accounting, Professional services, Business, Economy, Articles, Professional accounting bodies, American Institute of Certified Public Accountants, Certified Public Accountant, Small business, CPA

The American Institute of CPAs (AICPA) today praised the CARES Act, the Senates $2 trillion economic stimulus bill, and said it would provide substantial relief for small businesses and employees once signed into law.

Key Points: 
  • The American Institute of CPAs (AICPA) today praised the CARES Act, the Senates $2 trillion economic stimulus bill, and said it would provide substantial relief for small businesses and employees once signed into law.
  • The Senates passage of the CARES Act is an important step in keeping Main Street businesses resilient and ensuring that employees jobs are protected, said AICPA President and CEO Barry Melancon, CPA, CGMA.
  • In our meetings with members of Congress and Treasury, we called for economic recovery provisions that are fast, efficient and enable small businesses to ramp back up quickly.
  • That work will continue, informed by information we are gathering from CPA firms working on the front lines with small businesses.