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:

* Chairman Jimmy Williamson announced that he and other leadership representatives visited 10 state CPA societies since the July hoard meeting. He also said he participated in the National Association of State Boards of Accountancy Summit meeting, where the commitment to working on no-notification rules to enable interstate mobility was discussed as a high priority. No-notification legislation has passed in 10 states and is pending in 4 others. Additional movement in as many as 20 states is expected in 2008.

* Updates were provided on the Private Company Financial Reporting Committee's work (see page I), the AICPA's positive year-end financial results and completion of the relocation to Durham, N.C., on time and ahead of budget. The board also was informed about the development of the Institute's strategic plan, which will be discussed at the fall Council meeting.

* Regarding international accounting standards, the Securities and Exchange Commission's Concept Release on allowing U.S. issuers to prepare financial statements in accordance with International Financial Reporting Standards, instead of U.S. GAAP, was discussed.

* The Financial Accounting...