PCPS update.

• Position: Private Companies Practice Section

The institute announced recently that the CPA exam has been updated to reflect the changing demands on the profession. As of April 5, 2004, the CPA exam will be computer-based and offered year-round, two out of every three months, at more than 300 test centers across the United States. The redesigned test emphasizes technology and general business knowledge and takes a broader approach to testing candidates' understanding of auditing concepts. In addition, the test will assess research and analysis skills. The new format is 14 hours long (1.5 hours shorter than the paper exam) and has four sections, namely, Auditing & Attestation, Financial Accounting & Reporting, Regulation, and Business Environments & Concepts (BEC). BEC is new and will focus on candidates' general business knowledge. All CPA candidates prepared and approved to take the April test are highly encouraged to do so. The new format draws on existing computer skills and more accurately replicates tasks performed by entry-level CPAs. Credits from the paper exam will transfer to the new format. For more information on the new CPA exam, visit http://www.aicpa.org/pubs/jofa/sep2003/special.htm to read a complete set of Q&A.

PCPS Announces New Chair

PCPS is pleased to announce that Rich Caturano will be the new chair of the PCPS Executive Committee. One of Accounting Today's "Top 100 Most Influential People," Rich has been deeply involved in both PCPS's activities, chairing the task force that launched the incredibly successful PCPS/TSCPA National MAP Survey. He also chaired the committee that planned the Practitioners' Symposium in 2003, one of the best...