E-Sources, broadcast the second and fourth Friday of each month, provides timely information about issues affecting the accounting profession, educational opportunities, and special events.

In this Issue:
1. Distinguished Speakers Dinner - Save the Date
2. Tax Info
3. Golden Anniversary Endowment Fund
4. Market Your Firm Through the Business Chronicle
5. Upcoming Section Events
6. PCAOB's New Audit Standard for Internal Control Over Financial Reporting is Approved by the SEC
7. CPE News

SAVE THE DATE FOR THE DISTINGUISHED SPEAKERS DINNER: The GSCPA is excited to present Barry Asmus, Ph.D., Thursday, November 15 at the Westin Buckhead. As a Senior Economist for the prestigious National Center for Policy Analysis, Dr. Asmus does more than just speak on policies, he is actively involved with their implementation. More details and registration information to follow, so watch your email!

TAX INFO:Victims of 2005 Hurricanes Get Additional Year to Sell Vacant Land - The IRS is extending for an additional year the time limit within which victims of Hurricanes Katrina, Rita and Wilma have to sell vacant land that they had owned and used as part of their principal residence that was destroyed as a result of the hurricanes.

Treasury, IRS Release Report on Improving Voluntary Compliance - Treasury Department and the IRS released a report addressing the agency's implementation of the 2006 strategy to improve voluntary compliance with federal tax laws.

GOLDEN ANNIVERSARY ENDOWMENT FUND: This year, the Educational Foundation embarks on a two-fold effort to increase the endowment fund. The immediate need is to provide funding for the Golden Anniversary Endowment Fund, which has been founded so that individuals, firms, and businesses can establish a self-perpetuating, long-lasting mechanism to endow scholarships to deserving students who have selected accounting as a career. All financial commitments made by individuals and businesses through 2007 will be matched by the GSCPA, up to $500,000. If you would like more information, please contact Nealy Wheat at 404-504-2942 or nwheat@gscpa.org.

UPCOMING SECTION EVENTS:
CPAs in Industry Lunch & Learn
Taxation Issues for Employee Benefits
Course No. 08716
Date: Thursday, August 16, 2007
Time: 11:30 a.m. - 1 p.m.
Location: Tarpley & Underwood, PC, Atlanta
CPE Credit: 1 hour CPE
Fees: $15 GSCPA Members, $15 Non-Members
 
Estate & Financial Planning Lunch & Learn
Beyond Stocks and Bonds
Course No. 08721
Instructor: Sandra Morelli
Date: Tuesday, August 21, 2007
Time: 11:30 a.m. - 1 p.m. 
Location: GSCPA Training Center, Atlanta
CPE Credit: 1 hour CPE
Fees: $25 GSCPA Members, $25 Non-Members 
 
RE Roundtable - Commercial Office Market Update
Speaker: Chad Koenig, Vice President at NAI Brannen Goddard
Date: Tuesday, August 28, 2007
Time: 11:30 a.m. - 1 p.m.
Facility: GSCPA Training Center, Atlanta
CPE Credit: 1 hour CPE
Fees: $25 GSCPA Members, $25 Non-Members

MARKET YOUR FIRM THROUGH THE BUSINESS CHRONICLE: The Atlanta Business Chronicle is profiling the accounting field and GSCPA's Southeastern Accounting Show (SEAS) in a special section of the August 24 issue. Additional copies of the accounting focus section will also be distributed at SEAS. If you would like to advertise your
firm or company in this section, please contact Sharon Eaks at 404-249-1033 or seakes@bizjournals.com. The deadline for ad insertion is Tuesday, August 14. 

PCAOB'S NEW AUDIT STANDARD FOR INTERNAL CONTROL OVER FINANCIAL REPORTING IS APPROVED BY THE SEC: The PCAOB's Auditing Standard No. 5, An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements, was approved today by the Securities and Exchange Commission. It replaces the PCAOB's previous internal control auditing standard, Auditing Standard No. 2. In light of this development, the PCAOB announced that it is undertaking several initiatives to support the successful implementation of the standard.

CPE NEWS

UPCOMING COURSES:
Quickbook's Easy Estimate for Construction Clients (NEW)
August 16, 2007
4 hours CPE; Course No. 08025
8:30 a.m. - 12 p.m.
Instructor: Walter Lawrence
GSCPA Training Center, Atlanta
Fees: $129 for members; $149 for non members

Workpaper Approach to Single Audit-Basic
August 24, 2007
8 hours A&A; Course No. 08040
8:30 a.m. - 4:30 p.m.
Insructor: Rhett Harrell Jr.
Macon Centreplex/Coliseum
Fees: $269 for members; $319 for non members

Georgia State Tax Issues
August 24, 2007
8 hours CPE; Course No. 08041
8:30 a.m. - 4:30 p.m.
Instructor: Patrick Kelley
Doubletree Hotel Augusta
Fees: $269 for members; $319 for non members

UPCOMING CONFERENCES
Register now for the 2007 Southeastern Accounting Show! With only three weeks left, make sure you reserve your spot today. Customize your own program by selecting from five or six concurrent sessions during each time period, featuring 16 hours of CPE including 16 hours of A&A. The most up-to-date information regarding the vendors, speakers, and activities can be found on the SEAS web site at http://www.gscpa.org/Public/Conference/Description.aspx?courseID=0713085

2007 Accounting Institute - Take Your Career to the Top. October 5, 2007; 8 hours A&A; Classic Center, Athens. For the complete program schedule and registration information, visit the web site:http://www.gscpa.org/Public/Conference/Description.aspx?CourseID=0713035

2007 Fall Decision Makers Conference - It All Starts With You. October 18, 2007; 8 hours CPE; Cobb Galleria Centre, Atlanta; NEW for 2007 - Nonprofit Track. For the complete program schedule and registration information, visit the web site:http://www.gscpa.org/Public/Conference/Description.aspx?courseID=0713045

Save the Date for the Work/Life Balance Conference: November 8, 2007; Cobb Galleria Center. Program schedule and details coming soon.

Comments/suggestions? Please email jetzbach@gscpa.org. 

The next issue of E-Sources will be released Friday, August 24, 2007.