A&A news June 2010

A&A

Cooper Graci & Co. merges with Carr, Riggs & Ingram

CPA firm Cooper Graci & Co. has merged with Enterprise, AL-based accounting firm Carr, Riggs & Ingram, LLC. The merger expands CRI’s footprint into Texas for a total of seven states.
Community News

Weaver merges with Bank Advisory Resources

Weaver, a Texas-based independent certified public accounting firm, earlier this month announced expansion of existing services offered to financial institutions through a merger with Bank Advisory Resources, LLC.
A&A

Ernst & Young pays fine, costs to settle Equitable Life investigation

Ernst & Young has agreed to pay a £500,000 (U.S. $748,616) fine plus £2.4 million (U.S. $3,594,667) in costs to the Joint Disciplinary Scheme and Appeal Tribunal as settlement for its role in the near collapse of client Equitable Life in 2000.
A&A

UPDATE: Supreme Court rules PCAOB violates Constitution's separation of powers principle

The U.S. Supreme Court this week ruled that the Public Company Accounting Oversight Board violates the U.S. Constitution's separation of powers principle.
A&A

Exclusive interview: Joanne Barry, executive director of NYSSCPA

The voice of CPAs in New York has just become stronger because of the broadened scope of practice established by the Accountancy Reform Act of 2009, according to Joanne Barry, the newly appointed executive director of the New York State Society of CPAs.
Tax

Collecting unpaid taxes four pennies at a time

Aaron Zeff is the owner of Harv’s Metro Car Wash in Sacramento, California. Imagine his surprise when, one day last March, federal agents showed up at his business demanding payment of an amount owed from tax year 2006. Just how much did Zeff need to cough up? Four pennies.
Practice Development

After a recession: The time to find niches and opportunities

The period after a recession is not only a time for licking wounds. It is a time for tracking down new business niches and opportunities.
A&A

A day in the life of...a counter fraud specialist

Jim Gee, director of counter fraud services at MacIntyre Hudson, gives AccountingWEB an insight into his working life.
A&A

BP's public relations gaffes causing British companies problems in the U.S.

UK businessman William Chase claims that the lives of British businesses trying to succeed in the U.S. are being made harder because of BP chief executive Tony Hayward's handling the oil spill crisis.
A&A

AICPA publishes guide to help CPAs comply with engagement letter requirement

The AICPA has developed a new guide, Compilation and Review Engagements, for CPAs at smaller firms who perform financial audits. The guide is designed to help them comply with a new engagement letter requirement.
A&A

Making magic: Accounting and card tricks

A successful CPA with a love of magic has found a way to do both. Neil Schloss, founder of Castle Consulting in Hightstown, New Jersey, provides accounting services full time and throws in a card trick or two.
Practice Management

People management: What managers can learn from The Beatles

Determining whether your staff is a team or a group is an important distinction to make. For example, I'd claim the Beatles weren’t a pop group. Before you lynch me for pop blasphemy, the difference is this: John, Paul, George, and Ringo weren’t a group – they were a team.
Education & Careers

Identifying, understanding (and marketing to) the generations

For years, marketers have made it their business to study different age groups for ways to best reach out to, and communicate with, the various generations. But who are we referring to when we break down the generations?
A&A

Trust accounting for lawyers

Arizona soon will become one of the few states in the country that subjects lawyers to random audits of their client trust accounts. Lawyers need to know that there are specific requirements for trust accounting recordkeeping, including risk management and internal control procedures.
A&A

Most financial officers keep in touch with office during vacation

Nearly 70 percent of chief financial officers said they check in with the office at least once a week during their vacation. However, it appears they're trying to remain less in-touch.
A&A

Bloomberg poll: Investing in the United States is a good idea

In the world of investments, BRICs are the large emerging markets made up of Brazil, Russia, India, and China. Just months ago a poll of global investors rated the United States well below China and Brazil as an attractive market to buy into.
A&A

RAN ONE Americas seminar offers economic updates, advice

The recession is probably over and national and local economies are showing signs of recovery, Dr. Pearl Kamer, chief economist for the Long Island Association, Long Island, New York’s largest business organization, recently told an audience of CPAs and business advisors.
A&A

Massive extenders bill fails in the Senate

The $141 billion spending bill casually dubbed the extenders bill failed in the Senate yesterday. Forty-five Senators voted for it, fifty-two against.
A&A

IASB, FASB to focus on convergence between IFRS and US GAAP

The International Accounting Standards Board and the U.S. Financial Accounting Standards Board recently announced their intention to prioritize convergence projects to permit a sharper focus on issues and projects they believe will bring about improvement and convergence between IFRSs and U.S. GAAP.
A&A

PricewaterhouseCoopers offers guidance on cloud computing, resolving technology barriers

PricewaterhouseCoopers LLP has released its executive publication, "10Minutes on the Cloud," which is part of its 10Minutes series providing "straight to-the-point" perspectives on critical business issues for senior executives.

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