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PCPS Technical Issues Committee

Since its founding in 1979, the PCPS Technical Issues Committee—otherwise known as TIC—has acted as the voice for local and regional CPA firms and their clients in the technical standards-setting arena. TIC proactively identifies issues and developments requiring consideration by standards setters, monitors developing standards, and brings suggestions to the attention of the appropriate technical bodies.

 

  • TIC Alerts
    To keep CPAs abreast of technical issues, TIC publishes a Technical Issues Alert after each of its meetings. Each issue includes a detailed summary in plain English of the emerging technical issues and developments discussed and their implications for local firms and their private company clients.

  • NAAATS Conference
    In 1987, TIC joined with the AICPA to create the National Advanced Accounting and Auditing Technical Symposium (NAAATS) to improve opportunities for local firm partners and to provide advanced-level education in accounting and auditing subjects. Current and former TIC members have input into the NAAATS agenda each year.

  • Advocacy
    TIC's role as an advocate has grown more central. TIC meets annually with members of the FASB and the GASB, as well as with representatives of AICPA's Washington, D.C. office. A member of the FASB board regularly attends TIC meetings. TIC also has regular contact with AcSEC, PEEC, and ARSC (
    Accounting and Review Services Committee). Local firm concerns are discussed and specific suggestions and observations are made. Current and former TIC members also serve as members of standard-setting task forces and resource groups. TIC also comments on all proposed standards—accounting, auditing, ethics, independence, and others—that will affect its constituency. In numerous cases, important revisions have been made in exposure drafts based on TIC feedback. FASB Chair Robert Herz told Congress that the board relies on TIC for insights into the impact that proposed standards might have on small businesses.

Copyright © 2007 by the American Institute of Certified Public Accountants, Inc., New York, New York.