Letter From the Editor

Date01 January 2017
AuthorJim Edwards
Published date01 January 2017
© 2017 Wiley Periodicals, Inc.
Published online in Wiley Online Library (wileyonlinelibrary.com).
DOI 10.1002/jcaf.22247
Letter From the Editor
Dear JCAF Reader,
The retirement of a friend
can be a happy time. After
more than 11 years as a coau-
thor of the FASB column in
JCAF, Oscar Holzmann is
retiring. We will miss the many
insights and alerts that Oscar
has provided in this column.
We wish Oscar and his wife,
Madeline, many happy days
watching their grandchildren
grow up in Massachusetts.
Leave it to Oscar to do it dif-
ferently. He is moving from the
South to the North instead of
going the usual direction. He is
moving from Miami, Florida,
to Massachusetts.
On behalf of JCAF, I wish
to express our gratitude and
appreciation to Oscar for his
many contributions to the ben-
efit of our readers. Oscar has
been a great observer of the
FASB. His attention to timely
developments at the FASB has
made him a reliable source of
relevant information.
As editor-in-chief of JCAF,
I am thankful that Paul Munter
will continue the FASB col-
umn. Paul has served JCAF for
many years as a columnist and
as past editor-in-chief. Paul is
another outstanding member
of the JCAF team. Paul has a
distinguished career:
He served as the academic
fellow in the Office of the
Chief Accountant at the U.S.
Securities and Exchange Com-
mission, where he worked on
many of the Commission’s
Sarbanes-Oxley initiatives and
rule-making activities. Previ-
ously, he served as KPMG
professor and chairman of
the Department of Account-
ing at the University of Miami
in Coral Gables, Florida. He
earned his PhD in accounting
at the University of Colorado.
He is a CPA in New York,
Florida, and Colorado.
Paul has served as a partner
in the Department of Profes-
sional Practice—Audit with
KPMG. He served as the lead
technical partner for the U.S.
firm’s international account-
ing and IFRS activities and
also served on KPMG’s Global
IFRS Panel, which is respon-
sible for establishing KPMG
positions on the application of
He has returned to his alma
mater as a professor of practice
at the University of Colorado.
As the editor-in-chief of
JCAF, I am very proud of the
team that brings forth useful
information for the readers.
Every member of our team is
well qualified and special in
some unique way.
News from the American
Institute of CPAs (AICPA) …
The AICPA has expressed
its support for a concurrent
resolution “providing for a
joint session of Congress to
receive a presentation from the
Comptroller General of the
United States regarding the
audited financial statement of
the executive branch.”
House Concurrent Resolu-
tion 140 was introduced by U.S.
Representative Jim Renacci
(R-Ohio) on July 5.
“We believe requiring the
Comptroller General to make
an annual presentation before
a joint session of Congress will
be very useful in helping these
key policymakers focus in on
some of the most important
aspects of the financial state-
ments, including financial and
sustainability measures, and
understand the findings of
the audit,” AICPA President
and CEO Barry C. Melancon,
CPA, CGMA, stated in the
Institute’s September 6 letter.
“The requirements outlined
in this Concurrent Resolu-
tion also represent another
critical step in moving our
federal government forward,
particularly as it relates to

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