American Institute of Certified Public Accountants

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

Friday, April 3, 2020 - 5:45pm

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

Wednesday, April 1, 2020 - 1:48pm

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."

Devolutions Successfully Completes SOC 2 Compliance Testing

Tuesday, March 31, 2020 - 3:00pm

SOC 2 accreditation, developed by the American Institute of Certified Public Accountants (AICPA), is recognized as a gold standard for data security.

Key Points: 
  • SOC 2 accreditation, developed by the American Institute of Certified Public Accountants (AICPA), is recognized as a gold standard for data security.
  • In order to be in compliance, companies must establish and follow strict information security policies and procedures, which are then validated by a third party.
  • Performed by an independent audit firm, Devolutions SOC 2 examination was conducted over a 3-month period and confirmed that the companys Password Hub, inclusive of Lucid software, meets or exceeds the rigorous SOC 2 Type 2criteria.
  • Ernst & Young LLP has recently issued an unqualified SOC 2 Type 2 opinion on the controls placed in operation and tests of operating effectiveness for Devolutions relating to its Password Hub solution.

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

Thursday, March 26, 2020 - 10:35pm

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.

AICPA and CIMA to Postpone ENGAGE 2020 Due to Coronavirus Pandemic

Thursday, March 19, 2020 - 6:30pm

ENGAGE 2020, one of the largest accounting and finance conferences in North America, will be postponed until later this year due to concerns about the coronavirus pandemic.

Key Points: 
  • ENGAGE 2020, one of the largest accounting and finance conferences in North America, will be postponed until later this year due to concerns about the coronavirus pandemic.
  • The event is sponsored by the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).
  • The original date for ENGAGE 2020 was June 7-11 in Las Vegas.
  • ENGAGE 2020 attendees who are already registered and others interested in details about the rescheduled event can sign up for updates on aicpaengage.com .

The Climate Service Selected by the Association of International Certified Professional Accountants and CPA.com for Accelerator Program Driving Innovation in Accounting

Monday, February 24, 2020 - 1:30pm

The Association of International Certified Professional Accountants is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and the UK-based Chartered Institute of Management Accountants (CIMA).

Key Points: 
  • The Association of International Certified Professional Accountants is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and the UK-based Chartered Institute of Management Accountants (CIMA).
  • The goal of its accelerator program, founded in 2017 by the Association and CPA.com, is to give the accounting profession visibility into disruptive trends from emerging technologies.
  • "There has been a fundamental change in the way that companies are approaching climate risks,"says James McMahon, CEO of The Climate Service.
  • "Climate risk is reshaping financial markets, and it's reshaping accounting and reporting requirements," says Joseph Lake, COO of The Climate Service.

Baldwin CPAs Opens New High Tech Office in Louisville's Quantum Business Center

Monday, February 24, 2020 - 12:00pm

The new office building is in the middle of the booming Quantum Business Center area, and next door to ATA College.

Key Points: 
  • The new office building is in the middle of the booming Quantum Business Center area, and next door to ATA College.
  • "As a firm, Baldwin CPAs has always been focused on utilizing the latest technology to enhance our team's ability to serve our clients.
  • Baldwin is experienced and qualified to provide accounting services to a wide variety of businesses and industries.
  • Baldwin is a member of the Private Companies Practices Section of the American Institute of Certified Public Accountants and the AICPA's Governmental Audit Quality Center and Employee Benefit Plan Audit Quality Center.

Association of International Certified Professional Accountants Creates New Online Global Career Hub

Tuesday, February 18, 2020 - 12:00pm

The Association of International Certified Professional Accountants (the Association) has launched a new online career portal to help accounting and finance professionals find positions and develop their careers, while also providing employers a highly-skilled pool of potential hires.

Key Points: 
  • The Association of International Certified Professional Accountants (the Association) has launched a new online career portal to help accounting and finance professionals find positions and develop their careers, while also providing employers a highly-skilled pool of potential hires.
  • (Graphic: Business Wire)
    The Associations Global Career Hub , combining the strengths of the AICPA and CIMA, offers a variety of resources and services for applicants and employers throughout the global finance industry.
  • The Global Career Hub is part of the Associations commitment to being a lifelong career partner to our members and financial professionals.
  • The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide.

Fanplayr is Keeping Your Customer Data Secure Through SOC 2 Compliance

Monday, January 27, 2020 - 5:30pm

Established by the American Institute of CPAs ( AICPA ), SOC 2 outlines standards for management of customer data using five trust service principlessecurity, availability, processing integrity, confidentiality and privacy.

Key Points: 
  • Established by the American Institute of CPAs ( AICPA ), SOC 2 outlines standards for management of customer data using five trust service principlessecurity, availability, processing integrity, confidentiality and privacy.
  • With data breaches continually on the rise for other providers, Fanplayr is banking on a strong offense being the best defense.
  • We want to continue to process customer data with the highest degree of integrity, says Simon Yencken , Founder and CEO of Fanplayr.
  • Performed by outside auditors, the SOC 2 compliance requires periodic audits to maintain the integrity of processes and controls.

FoodLogiQ Successfully Completes AICPA Type 2 SOC 2 Examination of Security Control and Compliance Requirements

Thursday, January 9, 2020 - 5:12pm

After a rigorous examination, our auditors issued an unqualified opinion, confirming that FoodLogiQ meets the SOC 2 standards for Security and Availability Trust Services Principles with zero exceptions listed.

Key Points: 
  • After a rigorous examination, our auditors issued an unqualified opinion, confirming that FoodLogiQ meets the SOC 2 standards for Security and Availability Trust Services Principles with zero exceptions listed.
  • SOC 2 compliance is a component of the American Institute of CPAs (AICPA)s Service Organization Control reporting platform.
  • SOC 2 is both a technical audit and a requirement that comprehensive information security policies and procedures are written and followed.
  • AICPAs SOC 2 examination process is the industry standard-bearer for measuring the compliance of technology-based service organizations that store customer data in the cloud.