Community News news October 2006

Community News

More Firms Combine – Goal is Long-term Growth

Mergers have been announced recently in Indiana and Connecticut between firms with similar cultures looking to expand their existing client service capabilities and establish a stronger presence in their regions.
Education & Careers

Contentment Doesn’t Breed Confidence Among Accounting & Finance Professionals

The good news is that nearly three-quarters of accounting and finance professionals were still happy at work in September, according to the latest Hudson Employment Index for Accounting and Finance Workers. The bad news is their contentment didn’t translate into confidence, as the overall confidence level dropped 6.3 points, to 106.2 during the same period.These mixed signals, as accounting and finance professionals enter the fourth quarter, traditionally a strong period for industry workers as firms increase
Community News

Acquisition Enhances Grant Thornton’s Recovery & Reorganization Practice

Grant Thornton LLP has acquired the Restructuring and Performance Improvement (RPI) Group of Stout Risius Ross, Inc. (SRR). The acquisition complements existing global automotive expertise of Grant Thornton International (GTI) member firms and enhances the U.S. Recovery and Reorganization Services practice of Grant Thornton LLP, the U.S. member firm of GTI.“This acquisition adds yet another high-quality, value-added service to our suite of services,” said Paul Wolber, Detroit (Mich.) Office Managing Partner, in a prepared statement announcing the acquisition.
Practice Management

Ron Riebe Named Financial Executive of the Year

Ron Riebe, vice president of KeyBank, has been award the 2006 Financial Executive of the Year Award from the Institute of Management Accountants (IMA) and Robert Half International (RHI). “The Financial Executive of the Year Award recognizes best-in-class management accounting and finance professionals,” IMA President and chief executive officer (CEO) Paul Sharman said in a statement announcing this year’s winner. “As a national winner, Mr.
Tax

HealthSouth Agrees to $445 Million Settlement

HealthSouth Corp. announced on Wednesday that it will pay $445 million to settle several lawsuits that were filed against the company and some of its former directors after an accounting scandal.HealthSouth will pay $215 million in common stock and warrants, and its insurance carriers will pay $230 million in cash, the company said.
Community News

Congress Exempts CPAs from GLB Privacy Notification Requirement

Passing the Financial Services Regulatory Relief Act of 2006 was among the final actions taken by the 109th Congress before adjourning a week earlier than expected. The bill, passed unanimously by both chambers, includes a provision exempting certified public accountants (CPAs) from the Gramm-Leach-Bliley (GLB) Act’s annual privacy notice requirement.

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