Happenings at July Board of Directors' meeting.

• Position: American institute of certified public accountants - Brief Article

Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting July 15-16:

* Progress on a proposed exposure draft on outsourcing was discussed. Board members were informed that the Professional Ethics Executive Committee at its meeting in late July would review a draft proposal (see article on page 1).

* Board members discussed the move toward greater transparency in the peer review process and the related member education program (see page 3). The AICPA will work closely with state CPA societies, committees and others on this effort.

* Feedback on the financial literacy initiative was discussed. Members have been very positive and enthusiastic about the campaign.

* The board approved the principles and direction of the AICPA Foundation's new strategic plan to grow its reach and expand opportunities.

* Membership requirements for the soon-to-launch Governmental Audit Quality Center were approved. Applications are scheduled to be available late Sept.

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