Congress Passes Financial Regulations Bill

On Thursday afternoon, July 15, the Senate passed the Dodd-Frank Act (the new name of the “Wall Street Reform and Consumer Financial Protection Act”) on a vote of 60-39.  On June 30, the House of Representatives passed the bill by a vote of 237-192, so now both chambers have passed the same bill that came out … Continue reading

Attention Newly Licensed CPAs

Newly licensed Colorado CPAs must complete a two-hour Colorado Rules & Regulations (CR&R) course within six months before or after initial of licensure. If you need to take this course, the CSCPA offers it online. (http://www.cocpa.org/continuing-education/OnlineSelfStudyPortal.html)

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

Red Flags Enforcement Postponed

The Federal Trade Commission is delaying its enforcement of its “Red Flags rules” until June 1, 2010. Here’s the link for further information: http://www.ftc.gov/opa/index.shtml

Colorado Department of Revenue Public Tax Hearing – September 3, 2009

The Colorado Department of Revenue will conduct a Public Tax Hearing to hear three new proposed income tax regulations. These regulations were orginally heard on August 4 at public hearing but will be heard again with additional changes and to consider any cost benefit analysis. The regulations to be heard are: 39-22-652 Definitions:  Federal Transaction and … Continue reading

State Board News: Changes Recommended to Accountancy Statute

The Colorado State Board of Accountancy’s 2009 Sunset Review recommendations are now available online as a pdf document. Read the Board’s letter here.