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Are you aware
that Missouri Accountancy Law requires that firms that provide attest,
review, or compilation services must be enrolled in an approved peer review
program? While the requirement has been in effect for those providing
three or more attest services since 2004, the law will soon require any firm
that provides even one of these services to be enrolled in an approved
practice-monitoring or peer review program to ensure firm licensure.
The law specifically states that within 90 days after entering into an
engagement, a firm must enroll in the program. To view
the specific language related to peer review in the Missouri Accountancy Act,
go to: http://www.sos.mo.gov/adrules/csr/current/20csr/20c2010-5.pdf For more
information about To enroll
your firm, please complete the enrollment form: http://www.mocpa.org/Content/peer_forms.aspx > REGISTER TODAY FOR TWO EXCELLENT LEARNING OPPORTUNITIES THIS
MONTH! MSCPA Young CPAs Conference Take
advantage of a new, great learning opportunity for your future leaders. The MSCPA Young CPAs Conference offers
high performers the chance to develop their skills, build business, and lead
the profession in the years to come!
Send your top young talent to this new conference--August 17 in MSCPA Women's Retreat Almost 55
percent of all CPAs are women. Yet, less than 15 percent are firm partners.
This energizing event provides insight, learning and incredible camaraderie
with other successful women who share your same challenges. Hurry...this
conference reaches capacity quickly!
Mark your calendars for August
27 in > Make A Difference To Future CPAs! MSCPA is
proud to announce a new pilot program in To
prepare you for presenting the curriculum, CPA volunteers are asked to attend
a one-time, two-hour training session, which
will be held in the After assessing the success of this partnership in http://www.mocpa.org/Content/21118.aspx > Join Your Fellow CPAs at the
Upcoming Small Firm Networking Roundtables! Nearly 100 small firm practitioners from across the state have
gathered at the first three MSCPA Small Firm Networking Roundtables!
These roundtables
provide a forum for participants to discuss pressing issues, such as
staffing, collaboration among firms, technology, and work-life balance.
REGISTER NOW for the upcoming
Small Firm Networking Roundtables! Friday, November 9, 2007 in Friday, January 11, 2008 in Wednesday, May 7, 2008 in SPECIAL DEAL! REGISTER FOR ALL THREE ROUNDTABLES FOR ONLY $200!! For more information, call > PCAOB's New Audit Standard for
Internal Control Over Financial Reporting is Approved by the SEC The PCAOB's Auditing Standard No. 5, An Audit
of Internal Control Over Financial Reporting That Is Integrated with An Audit
of Financial Statements, was approved late last month by the Securities
and Exchange Commission. It replaces the PCAOB's previous internal control
auditing standard, Auditing Standard No. 2. http://www.pcaobus.org/News_and_Events/News/2007/07-25.aspx > Vision Stamina: Does Your Firm Have What It Takes? AccountingWeb reports that most accounting
firms do not have vision stamina. And just so you don't think negatively
about the profession, the vast majority of organizations do not have it
either. So what is vision stamina? It is the dogged determination to overcome
any obstacle and handle any distraction that might get in the way of
realizing your goals. http://www.accountingweb.com/cgi-bin/item.cgi?id=103852 > IRS Seeks Comments on Updates
to Corporate and Partnership Tax Forms The IRS
has released for comment and discussion draft revisions to Form 1065, U.S. Return
of Partnership Income, and Form 1120, U.S. Corporation Income Tax Return. The
IRS plans to have the forms and related schedules ready for use for taxable
years ending on or after Dec. 31, 2008. Comments are due from the public by
Sept. 14, 2007. http://www.irs.gov/newsroom/article/0,,id=172795,00.html > Treasury, IRS Release Report on
Improving Voluntary Compliance The
Treasury Department and the Internal Revenue Service released an IRS report
addressing the agency's implementation of the 2006 strategy to improve
voluntary compliance with federal tax laws. http://www.irs.gov/irs/article/0,,id=172790,00.html > Time And Billing Software Is About
A Regardless
of the firm's size, time and billing remains a key application. After all,
being able to accurately track time spent on practice matters ensures that
professionals are paid for every minute spent with a client, and enables
firms to see where time is not wisely spent. http://www.webcpa.com/article.cfm?articleid=24864
This
Week's Headlines |
For CPAs in Public Practice All courses are 8 CPE hours unless
otherwise noted. Seminars: It's not too
late to register for this week's classes: Determining the Value
of a Business--Purchase, Where Ethics and Liabilities Cross
Paths 8
a.m. -10 a.m. Fulfills 2-Hour ethics requirement Auditing Local Government
Efficiently, Proficiently & Profitably August
13-14, 2007--St. Louis, MO 16 CPE
Credit Hours Lean Accounting & Lean Work
Flow August
15, 2007--St. Louis, MO Government Auditing Standards 2007 August
15, 2007--Springfield, MO Staff Training--Semi-Senior August
20-22, 2007--Columbia, MO 24 CPE
Credit Hours Accounting & Auditing Current
Developments (A&A with George & Ray) August
20, 2007--Kansas City, MO August
21, 2007--Springfield, MO August
22, 2007--Cape Girardeau, MO August
23, 2007--St. Louis, MO Real Estate--From Purchase thru August
21, 2007--St. Louis, MO Business Valuation - An Overview August
22, 2007--St. Louis, MO Emerging Companies--Business and
Financial Strategies August
23, 2007--Kansas City, MO The Successful Family Business A Primer to Increasing,
Preserving, & Transferring Family Wealth August
24, 2007--Kansas City, MO Conferences: it's not too
late to register for these dynamic Conferences: Young CPAs
Conference August 17, 2007-- Women's Retreat August 27, 2007-- Personal Financial
Planning Conference October
17, 2007--Mission Hills, KS __________________________________ Technology Tip of the Week Provided
by the MSCPA Information Technology Committee Respond Quickly To Business Changes
With Excel's Smoothing Add-In To view recently archived issues of "Technology Tip of the Week," go to: http://www.mocpa.org/Content/22269.aspx
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