A&A news February 2011

A&A

Global study shows new direction for internal auditing

In the next five years, the focus of internal audit activities will differ significantly from current practice, and it's important that internal auditors at all levels – not just the chief audit executive – keep up-to-date.
Education & Careers

Submitting tax records just got easier for student financial aid candidates

A new convenience for families of college students submitting the Free Application for Federal Student Aid online might come at the expense of accountants who currently provide related services to their clients.
A&A

Business opportunities make forensics, fraud examination credential worth investigating

Demand for forensic accounting services from businesses of all sizes has made qualifying for a second certification in forensics and fraud examination an attractive option for accountants.
A&A

Buck and Schroeder join Financial Accounting Standards Board

The Financial Accounting Foundation has announced the appointments of Daryl E. Buck and R. Harold (Hal) Schroeder to the FASB. Buck and Schroeder will fill two additional seats on the FASB that were announced in August, bringing the size of the FASB board to seven members.
A&A

SEC Shadow NAV rule means greater transparency for investors

The Securities and Exchange Commission (SEC) has announced that, for the first time, investors can access detailed information that money market funds file with the Commission.
Practice Management

A cautionary tale: Busy season can be life threatening

During the tax season of 1995-1996, Norm Lorch was not feeling well. He had a sore throat, but told himself it would go away. In any case, he did not have time to go to a doctor. Lorch is principal of Owings Mills, Maryland-based Norman J. Lorch, Chartered.
Technology

It's the preparer, not the software

Every year, nuances of the tax returns seem to get a little more intertwined. Lawmakers' tax simplification acts never simplify much and paperwork reduction legislation seem to add more pages to the return. And that's just at the federal level.
Tax

CFO survey: U.S. leads Europe in economic, business confidence

Chief Financial Officers in the United States lead CFOs in Europe in optimism, access to credit, and plans for hiring new workers, according to a recent survey. Despite their differences, U.S. and European CFOs share some of the same business challenges and economic worries as they kick off 2011.

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