Pittsburgh Chapter gets big turnout for fall meetings.

• Position: Chapter News

During the months of September and October the Pittsburgh Chapter held four meetings, each dealing with important changes to federal tax laws and administrative procedures. The keen interest in the topics presented was evidenced by the large number of members and guests who attended each of the two luncheon meetings and two evening meetings that were held so far this program year.

The first meeting was a Federal Audit roundtable luncheon where Ray Pasternak of H. J. Heinz Company and Noreen Adams of Bayer Corporation served as facilitators. Ray and Noreen opened the meeting with a short presentation, which led into various topics, including the research credit, the LIFE program, early referral, and zero-interest netting claims. A number of current audit issues were also brought up for discussion by the members and guests in attendance.

Mark Twerdok and Tom Bone, both Partners of KPMG, were the speakers for the September evening meeting. Their presentation dealt with identifying and managing risk in the post-Sarbanes-Oxley business environment. The primary focus of their discussion was the new financial reporting obligations under Section 404. While recognizing the added burden involved in documenting and auditing the internal controls of the various tax functions, they also noted the many benefits that can result from the establishment of those formal control procedures.

At the October 1, 2003 luncheon meeting, Handy B. Hevener of Baker & McKenzie presented an Employee Benefits Update. Handy described the recent shifts away from stock options to restricted stock and traditional deferred compensation...