150-Hour Signed Into Law

On April 21, Colorado Governor Bill Ritter, Jr. signed into law House Bill 10-1236 concerning the regulation of certified public accountants by the Colorado State Board of Accountancy. Effective July 1, 2010, the legislation continues the State Board to June 30, 2019, requires 150 hours of education for CPA candidates as of July 1, 2015, … Continue reading

The AICPA Files Lawsuit Challenging Application of Federal Trade Commission’s “Red Flags Rule” to CPAs

The American Institute of Certified Public Accountants filed a lawsuit in the U.S. District Court for the District of Columbia seeking an injunction barring the Federal Trade Commission from applying its so called Red Flags Rule, which would impose onerous and unnecessary requirements on AICPA members. The FTC’s Red Flags Rule was designed to help … Continue reading

FIN 48: Start Planning Now

Companies should start early to have time to resolve complex issues, and prevent delays in issuing their audited financial statements, three Deloitte LLP partners said during a recent webcast. Private companies should start preparing for the application of FASB Interpretation (FIN) No. 48, Accounting for Uncertainty in Income Taxes, (FASB ASC 740-10), three partners at … Continue reading

Consumer Financial Protection Agency (CFPA)- H.R. 3126

Earlier this month, House Democrats introduced their own scaled-back version of the new consumer protection agency proposed by President Obama. The legislation was first introduced in April by U.S. Rep. Ed Perlmutter (D-Colo.), and U.S. Rep. Frank Lucas (R-Okla.), members of the U.S. House Financial Services Committee. The legislation is broadly written and would include … Continue reading

Denver State & Local Tax Group (SALT) Breakfast Meeting – July 14, 2009

Tuesday, July 14, 2009, 7:30 to 9:00 am Holland & Hart’s Downtown Office 555 Seventeenth Street, Suite 3200 Denver, Colorado 80202 Speaker: Norman Wright, Esq. of N.H. Wright & Associates, L.L.C. Topic: “2009 Colorado Tax Legislation” With Comments by Chuck Berry and Loren Furman of the Colorado Association of Commerce & Industry Cost: $12.00 per … Continue reading

Congress Proposes New Federal Accounting Oversight Board

Members of the House Financial Services Committee have introduced legislation to create a new body to police the application of accounting standards – the Federal Accounting Oversight Board (FAOB). In the legislation introduced by Ed Perlmutter, D-Colo., and Frank Lucas, R-Okla., the FAOB would oversee the application of GAAP to financial markets and consider how … Continue reading

New Federal Accounting Oversight Board Proposed: Colorado’s Cong. Perlmutter Sponsors Legislation

Cong. Ed Perlmutter, D-Colo., and Cong. Frank Lucas, R-Okla., members of the U.S. House Financial Services Committee, have introduced House Resolution 1349 to create a new body to police the application of accounting standards – the Federal Accounting Oversight Board (FAOB).  The new board would oversee the application of GAAP to financial markets and consider … Continue reading