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September 16, 2010    
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Publisher's Note
Rob Nance, Publisher While shopping with my wife recently, I spotted a rack of $15 shorts in an Eddie Bauer store. Being one to take advantage of bargains and minimize the number of shopping excursions, I commented to my wife, “I think I need to get a bunch of these.” She replied, “They’re the same kind as what you are wearing; don’t you want something different?” At the time, I was wearing my favorite pair of shorts, which were extremely similar to what I found on sale. That was exactly why I decided I needed eight more pairs of these shorts! Why try something new? That doesn’t make sense to me!

This moment with my wife made me think back to going after new business in public accounting. For those of you who make these efforts a part of your day, you know how difficult it is to land those accounts that are currently pleased with one of your competitors. Easier scenarios are when those accounts are unhappy with the services they are receiving, the costs are too high, or they are forced to make a change because of mandatory audit firm replacements. Bringing in clients that are set in their ways (like me with my shorts), well, that’s a whole other kettle of fish.

So what are small firms doing more of these days with their business development efforts? One answer keeps coming up more than ever before: Firms are doing whatever they can to reduce risk in the minds of their prospects.

Rob Nance

Top News
INSIDE Public Accounting reveals nation’s top 200 accounting firms
20th Anniversary IPA The Platt Group, publishers of INSIDE Public Accounting (IPA), recently has released its inaugural "Beyond the IPA Top 100," a ranking of the nation's top 200 accounting firms.
Report: Room for improvement in corporate risk oversight worldwide
The worldwide economic crisis has put a spotlight on corporate risk, but a large percentage of companies around the globe do not have strong risk oversight protocols, according to a joint research report.
AccountingWEB expands industry reach with acquisition of Going Concern
AccountingWEB, the leading online media company for accountants, recently has acquired Going Concern, an online tabloid covering the worlds of accounting and business finance. Going Concern was acquired from Breaking Media.
Slight increase in net hiring projected for first time since Q1 2009
Hiring in accounting and finance is expected to increase slightly in the fourth quarter, according to the Robert Half Financial Hiring Index.
There is Nothing Quite Like the Scrutiny of Single Audits Single Audits
And there is nothing on the market quite like the all new PPC’s SMART Practice Aids - Single Audit, part of Checkpoint Tools from Thomson Reuters.
PPC’s SMART Practice Aids - Single Audit
walks you and your staff through the entire Single Audit process providing a practical, automated process. Call 1.800.950.1216 or visit ria.thomsonreuters.com/singleaudit today.
Featured Articles
Management example, peer pressures bring benefits
Ethics Research studies from the Ethics Resource Center examine how a strong ethical culture and effective tone at the top permeate through all levels of an organization, while a study by the Association of Certified Fraud Examiners emphasizes the importance of an anonymous hotline for the reporting of misdeeds.
Tips for safeguarding mobile phones, information
Mobile phones are an essential business tool and, while the technology lets you keep in touch from nearly any location, there are some serious security issues.
Focus on positive leadership when things go wrong
Are you appreciated by company managers? Do you have the opportunity to do your best work? Are you clear about what is expected of you at work? Does your manager provide employees focus? People at work who are fully engaged can answer these questions with a clear yes and sense of gratitude.
Intuit introduces ProLine Tax Import to reduce manual data entry
Intuit recently introduced ProLine Tax Import, an add-on to the ProLine Portfolio of Products, designed to enable tax professionals to import tax data from scanned source documents and digitally download data from financial institutions directly into Intuit's Lacerte and ProSeries.
Reality Check: Make Next Tax Season Your Best Ever!
CCH You've been through multiple busy seasons and you have great ideas about what you could do to make the next one better. But do you have the tools to take you there? Maybe it's time to take another look at the professional’s first choice, ProSystem fx Tax. Reliable. Comprehensive. Accurate. Always up-to-date. Hear what other tax professionals are saying. Visit CCHGroup.com/Tax or call 1-800-739-9998 for more information.
Firm/State/People News
Reality star caught in financial pickle
The Real New Jersey HousewivesYou don’t have to be a financial wizard to understand that you shouldn't go on lavish shopping sprees just days after you file bankruptcy papers. While that goes for everyone, it’s especially true for celebrities who are likely to be recognized.
Rapper Young Buck working on a deal with the IRS
Just a few weeks ago, rap star Young Buck (nee David Darnell Brown) made headlines of a dubious nature. That’s when Internal Revenue Service agents raided his home at gunpoint.
Company announcements: Week of September 13, 2010
Following is the latest roundup of firm news for the week of September 13, 2010.
Try A One-Hour Live CPE Webcast For Free Online CPE Courses with Larry Stein
Register now for Larry Stein CPE Free CPE Course: Eight Key S. Corp Areas for Immediate Review. Several sessions available beginning October 8, 2010. Gain valuable knowledge with convenient, live webcasts presented on a variety of dates and times. Register and view available training. Questions? Call Larry Stein at 954.721.5588.
What do you have to say today?
SEC and conforming With the Dodd-Frank Act
The SEC issued a Final Rule exempting small companies from Sarbanes-Oxley Section 404(b), the external auditor's report on internal control. The exemption is effective immediately.
What's your secret shopper score?
Many retailers use a program called "secret shopper," in which a customer goes through the store and records his or her experiences across a number of different interactions.
Are your independent contractors really employees?
The IRS and the states are aggressively attacking this area. They believe this area provides a great opportunity for them to reduce the tax gap.
"Accountants are not stupid" convention
The host of the show in the stadium says, "We are all here today to prove to the world that Accountants are not stupid. Can I have a volunteer?"
Non-filer for seven years ready to get compliant
What would you do? File and disclose based on estimates? Not file certain years?
Add your input!
I want QuickBooks 2011 when it comes out
Can you shut down the payroll feature?
Share your suggestions!
Kaplan Weekly Quiz
KaplanAre you prepared for the CPA exam? Test your knowledge and keep your skills sharp by taking the weekly CPA Exam Quiz, brought to you by Kaplan Schweser CPA Review and AccountingWEB Education & Careers Zone. New questions will be posted for each section weekly. Take this week's quiz.
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