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July 3, 2008  

Publisher's Note

Extending benefits to same-sex partners of employees is certainly a hot topic here in America. Twenty-six years ago, the Village Voice, a New York newspaper, became the first U.S. employer to do so. Now, more than 80 percent of Fortune 500 companies provide such benefits. Interestingly, among the 10 largest U.S. companies, only ExxonMobil and Wal-Mart do not provide domestic-partner benefits.

What's going on with your firm or company regarding this subject? What are your clients doing? Take a moment and write me if you are so inclined. As always, I'll write back (and ask if we can publish your comments or not).

Rob Nance
AccountingWEB, Inc.

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Alex Vuchnich, CPA, CFE:
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Lender Contracted Auditors - A Hypothesis
Francine McKenna posted a recent entry on her blog that pointed out some of the flaws in the current audit model. Flaws included the usefulness and relevance of the information provided to financial statement users. It also seems to hint at the flaws around auditor independence which have been debated ad nauseum since the inception of the profession....

Dave Burt, CPA:
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The accounting profession has never been better as a career choice. With Sarbanes and the IASB and, they say, 80% of the members of the AICPA retiring within 10 years---hey, we could, getting older each day--things haven't looked rosier for the profession since green eye shades and black sleeve garters faded into history....

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Turnkey: it's a beautiful word, isn't it? When used to describe accounting software, it conjures up the image of just turning the key in the ignition, hearing the roar of the engine and driving off into the sunset. It's a whole sales pitch in a word. The only problem with it is that it doesn't tell the whole story....

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