AICPA supports measure to modify fiduciary definition to exclude ESOP appraisers

05/22/2013 | CPA Practice Advisor online

The AICPA supports a bill in the House of Representatives that would change the definition of fiduciary under the Employee Retirement Income Security Act of 1974. The bill's new definition would specifically exclude appraisers of employee stock ownership plans, including CPAs who perform these services. There is a companion measure in the Senate.

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