When accounting goes unaccounted for
“We believe that the IRS has neither demonstrated the need for extending the non-signing preparer requirements to CPA firms nor that its proposed testing program merits shifting IRS resources away from other mission-critical programs.”
~ Thirty-one members of Congress sent a letter to Tim Geithner, asking TG, Doug Shulman & Co. to, pretty please, reconsider the requirement for non-signing CPAs.
“In 2,500 pages of dense prose, we’re about to receive legislation that could better be entitled ‘The Lawyers’ and Lobbyists’ Full Employment Act.”’
~ Harvey Pitt, former SEC Chairman, graduated with his law degree from St. John’s in 1968.
“It’s not a sure thing that they’ll actually get around to doing anything about it.”
~ Craig Jennings, federal fiscal policy analyst at OMB Watch, doesn’t have much faith that Congress.
“The audit committee is essentially its organization’s financial conscience. The responsibilities have grown demonstrably, and committee members need appropriate guidance to carry out their essential charge. That’s the AICPA’s goal for its first audit committee forum.”
~ Carol Scott, AICPA vice president for business, industry and government thinks it’s about time we got down to business.