Highlights of Board of Directors' September meeting.

Following are some of the more significant actions and events that took place at the AICPA Board of Directors' meeting Sept. 18-19:

* AICPA President and CEO Barry Melancon reported on the profession's response to the current turmoil in the financial markets. Efforts included providing updates to CPAs and supplying background details on key financial issues to members of Congress and the media. Melancon also provided an update on the work of the Treasury Department's Advisory Committee on the Auditing Profession, of which he was a member [the final report was issued Oct. 6]. Developments on XBRL initiatives were outlined as well.

* The presiding chairman of the board of directors Randy Fletchall discussed the final report of the SEC Advisory Committee on Improvements to Financial Reporting and his attendance at the National Association of State Boards of Accountancy Summit.

* The latest developments surrounding International Financial Reporting Standards were discussed, including the SEC's vote to propose a roadmap for potential use of IFRS by U.S. public companies and the newest enhancements to the AICPA's educational Web site, www.IFRS.com.

* In a report on the profession's mobility efforts, the board was told 31 states have provisions allowing CPAs to practice across state lines and many more states are ready to add mobility provisions to their legislative agendas in their upcoming sessions.

* In an update on the current tax legislation climate, the latest developments relating to the "more-likely-than-not" provision were covered, [On Oct. 3, after...