June/July 2010 Newsletter

July 8, 2010

John Rodgers

John Rodgers, CPA

President's Message

Happy summer to everyone.  I hope you are enjoying the outdoors and perhaps taking some time off.

The AKCPA Board met last month and we are off to a great start.  The main focus on last month’s meeting was the continued development of the AKCPA web page and also our strategic plan.  It was the general consensus that our strategic plan for 2010/2011 should focus on the increased participation within the Society by our younger up and coming members.  We are encouraging all senior partners and members to help us get the younger population involved with the Society. Our future depends on it.

A current item of importance is Governor Parnell signed into law HB 315 on June 10th.  The bill actually passed on April 18th and we have been “sitting on pins and needles” hoping it would not get vetoed.  The bill provides mobility between licensing jurisdictions, simple majority firm ownership, and improves the disciplinary process.  It also provides for an executive secretary for the Board of Public Accountancy. Thank you to Lisa Rogers and the legislative committee for their hard work on this project.

The Society committees are in full swing and I urge our membership to get involved with them whenever possible.  I’ve enjoyed working on different committees in the past; it’s a good way to give back to your Society while obtaining some professional development at the same time.

Lastly I will use this letter as a reminder to sign up for CPE.  We all have to do it and there are some great classes being offered right now, so get in while you can and avoid the familiar panic at year end.

Best regards,

John Rodgers

AICPA Renews Call For Congressional Action To Ban Tax Strategy Patents

Published June 28, 2010
The following is a statement by Barry Melancon, AICPA president and CEO, on the Supreme Court’s ruling in Bilski v. Kappos:

“Today’s Supreme Court decision in Bilski v. Kappos, while striking down a particular business method patent, does not stop the U.S. Patent and Trademark Office from continuing to issue tax strategy patents and the AICPA renews its call on Congress to act quickly to pass legislation to ban tax strategy patents. The AICPA believes that no one should have a monopoly on compliance with the tax code. Taxpayers should not have to face the threat of royalties or lawsuits from holders of tax strategy patents and no one should have to pay more tax than he or she lawfully owes because someone else purports to hold a patent on tax planning.

“Tax strategy patents remain a serious and growing problem for taxpayers and their advisers.  The Patent Office has issued 107 tax strategy patents and 145 patent applications are pending.”

CPA President and CEO Barry Melancon On Supreme Court Decision On PCAOB: "A Victory For Investors, Accounting Profession"

NEW YORK (June 28, 2010) - The following is a statement by Barry Melancon, AICPA president and CEO, on the Supreme Court’s ruling on the constitutionality of the PCAOB:

“The court’s ruling is a victory for investors and for the accounting profession. The decision effectively fixes the constitutionality of the PCAOB by making board members subject to `at will’ removal by the SEC and therefore the president. It sustains the continued function of both the PCAOB and Sarbanes-Oxley. As such, the court rejected a transparent attempt to undermine the post-Enron reforms that have served our financial markets well.”

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