Happenings at October governing Council meeting.

Here are some of the more significant actions and events that took place at the governing Council meeting Oct. 25-26:

* Robert L. Bunting of Washington was elected as chair of the AICPA Board of Directors for 2004-2005 and Leslie A. Murphy of Michigan as vice chairman.

* Council members were updated on the profession's national and grassroots financial literacy efforts. They heard about the opportunity for a united professional effort to brand the outpouring of volunteerism among CPAs, as well as the new resources and tools to support CPAs' outreach (see article above).

* Progress made to date to meet participatory and financial targets for each of the AICPA's three specialty credentials was reported. Dedicated manpower and increased financial resources are being used to improve the value and visibility of the Accredited in Business Valuation, Personal Financial Specialist and Certified Information Technology Professional credentials.

* Updates were provided on various initiatives: Ethics Ruling 101-3 was explained and efforts to educate members were outlined; communications and resources to help members understand greater transparency in the peer review process were highlighted; and the Private Company Financial Reporting Task Force outlined...