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May 20, 2008


New CFF forensic accounting credential to be launched by AICPA in Fall
The governing Council of the American Institute of Certified Public Accountants has authorized the creation of a new CPA specialty credential in forensic accounting. The credential, Certified in Financial Forensics (CFF), will combine specialized forensic accounting expertise with the core knowledge and skills that make CPAs among the most trusted business advisors.

PCAOB to discuss using non-U.S. inspectors
The Public Company Accounting Oversight Board will host a roundtable discussion on June 25, 2008 on a proposal regarding the circumstances in which it could rely fully on non-U.S. auditor oversight bodies in the context of inspections. Representatives of investors, registered accounting firms, and foreign regulators will participate in the discussion.

Former accounting professor pleads guity to grand theft
A former assistant professor of accounting at the University of Tampa has pleaded guilty to stealing $120,000 from the American Spaniel Club. She was accused of writing 71 Spaniel Club checks to herself between July 2006 and March 2007 to feed an Internet gambling addiction.

Small Business News

How To Jump Start Your Week - Take Action
Sometimes getting started can be the toughest part of the day, especially on Mondays, or even worse, returning from that week long vacation! Here are some ways to ensure that you get moving quickly and effectively.


What have you got to say today?

The A-Team:
Voices of the AccountingWEB Staff
Going Out on Top

There's a lot to be said for going out while you're at the top of your game. Yesterday's news of Justine Henin retiring while she's still ranked No. 1 in the World Tennis Association rankings is admirable. I can only imagine struggling with such a decision to walk away from that level of fame and money--and the daily requirements that go along with it....

Financial Reporting Blog
White House Tells Agencies: No Proposed Rules After June 1; No Final After Nov. 1, Will This Impact SEC's IFRS Roadmap, XBRL?

In his article, "White House Sets June 1 Deadline for Agency Proposals," (article courtesy of Nasdaq) Martin Vaughan of Dow Jones Newswires reported yesterday that White House Chief of Staff Josh Bolten sent a memo to all federal agencies on May 9 requiring: "all rules to be finalized before the administration leaves office should be proposed by June 1, and final rules should be issued by November 1." Additionally, according to Vaughan, the memo stated those deadlines apply in all but 'extraordinary circumstances.'...

Featured Book

Corporate Management, Governance,
and Ethics Best Practices
by S. Rao Vallabhaneni
Best practices are the processes, practices, and systems identified in public and private organizations that performed exceptionally well and are widely recognized as improving an organization's performance and efficiency in specific areas. Successfully identifying and applying best practices can improve business processes and increase organizational effectiveness. Based on author S. Rao Vallabhaneni's decades of management experience, Corporate Management, Governance, and Ethics Best Practices provides a one-stop, comprehensive reference guide to the best-of-the-best practices for corporate business practitioners and government employees worldwide.

Editor's Note

Please remember that we are in the process of assembling an AccountingWEB summer reading list and welcome suggestions from our readers - so please e-mail us with your favorite books. And speaking of reading, we're always interested in receiving original commentary from our readership, so if you would like to send us an article for publication, please do so. Or you can go to the Blogs page on AccountingWEB and give us your two cents on any of the topics currently being discussed. Click Blogs on the left side of any AccountingWEB page, and then click See Recent Posts on the Blog page to see what we're talking about.

Gail Perry, CPA
Managing Editor

Firm/State News

KPMG teams with First Book to provide books for needy children
First Book, the award-winning nonprofit organization placing new books into the hands of children in need, announces the launch of a collaboration with KPMG LLP, the U.S. audit, tax and advisory firm. KPMG has contributed $250,000 and sponsored the distribution of more than 200,000 brand new books to children from low-income families nationwide in 2008.

Student News

DeVry Keller Becker team up to offer five year fast track master's program
DeVry University, its Keller Graduate School of Management, and Becker CPA Review are helping to meet the increased demand for accounting positions by providing professionals who aspire for careers in accounting with an integrated, fast track path to achieve their bachelor's and master's degrees and CPA designations in as few as five years.

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