November 28, 2006

> MOSBA Executive Director Ken Bishop Resigns

Ken Bishop , who has served for eight years as executive director of the Missouri State Board of Accountancy, recently announced his resignation. Ken has accepted a position as president of Professional Credentialing Services and director of CPA Examination Operations for the National Association of State Boards of Accountancy (NASBA) in Nashville, Tennessee. Ken's last day with the state board will be January 2, 2007.

Ken served Missouri CPAs over the past eight years very well. He was instrumental in the passing of the Missouri Accountancy Act, implemented a new customer service culture at the state board, and significantly increased cooperation between the state board and MSCPA--a critical relationship that was applauded and admired throughout the entire nation.

> MSCPA Would Like To Thank Your Bosses!

The mission of the Missouri Society of CPAs is to support its members in a dynamic business environment. As part of that mission, MSCPA would like to communicate to your company how much we value your commitment to the association and the profession. Log on to your member profile (http://www.mocpa.org/Content/Login.aspx) and tell us to whom we should direct this communication. Your user ID is your last name and your password is your member number.

> Register Now For The MSCPA Industry Networking Roundtables
The Business & Industry Advisory Council is proud to present a continuation of a program designed specifically for CPAs in industry! Make plans to attend the upcoming Industry Networking Roundtables! Take advantage of this opportunity to meet other CPAs in the industry sector, exchange ideas, and discuss the challenges you face daily. http://www.mocpa.org/Content/22188.aspx

> IRS Increases Audits Of Small Businesses
Commissioner Mark Everson says the Internal Revenue Service is paying more attention to the filings of small businesses that tend to underreport incomes and to the records of tax-exempt organizations. http://accounting.smartpros.com/x55589.xml

> Business Wins Easing Of A Sarbanes-Oxley Rule

Business has won the battle to ease one of the most controversial requirements mandated by the Sarbanes-Oxley corporate-reform law: that companies first review their own systems for ensuring accurate financial reports and then have them tested by outside auditors. http://accounting.smartpros.com/x55480.xml

> '07 Inflation Adjustments Widen Tax Brackets, Expand Benefits

Personal exemptions and standard deductions will rise, tax brackets will widen and income limits for IRAs will increase in 2007, thanks to inflation adjustments announced by the IRS. http://www.irs.gov/newsroom/article/0,,id=164182,00.html

> The New Dynamics Of Auditor Selection

Decision-making around the selection and retention of external auditors has changed post-SOX, but CFOs' pivotal role has remained. Playing that role requires an understanding of the essential criteria for evaluating auditors' expertise and performance. Business Finance's Eric Krell takes a closer look.

http://www.businessfinancemag.com/magazine/archives/article.html?articleID=14715

> Understanding The Best And Brightest

The AICPA Private Companies Practice Section recently conducted a new "Top Talent Study" to learn more about the attitudes and aspirations of the most promising young accounting professionals. What it found out about your top talent may surprise you. http://www.aicpa.org/pubs/jofa/nov2006/dennis.htm

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