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 Compensation
Plans and the New Stock Option Accounting Rules
Its
exposure draft to require the expensing of stock option
grants is one of the most controversial standards ever proposed
by FASB. Supporters of the standard argue that stock option
grants are indeed a form of compensation and should be recognized
as an expense on the body of the income statement.
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Transparency
as a Means to Serving the Public
In
our October 2004 issue, AICPA Chairman Robert L. Bunting
discussed current AICPA initiatives to reform the peer review
and quality assurance systems for all CPA firms, not just
those registered with the Public Company Accounting Oversight
Board (PCAOB). The NYSSCPA supports these plans because
they foster greater transparency in the accounting profession.
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Teaching
CPAs About Serving the Public Interest
A
continuing deluge of articles, editorials, and speeches
addresses the need of ethics education in the curriculum
of accounting majors. One must wonder, however, if teaching
ethics at the college level is too late. Have we become
immunized against ethical behavior? Are the primary criteria
for behavior whether or not one will be better off, and
the chances of being caught? Full
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