International

Technology

Canadian Accountants Return to Television

“As the first accounting association to get our message out on TV with a series of profile-raising ads that ran from 1994 to 1999, we definitely recognize the power of television,” Delmarie Scherloski, director of public affairs for the Certified General Accountants (CGA) of Ontario, explained in announcing the airing of three new television ads. “For the last few years we used ‘close captioning’, but the time has come to again expand on CGA Ontario’s message.
Tax

East European Hackers Invade Online Brokerage Accounts

Using spyware loaded on public computers in internet cafes or hotels or attached to email messages to potential victims, hi-tech crooks, operating from remote locations, have been able to enter online brokerage accounts in the U.S. and either sell off the contents and take the proceeds or manipulate stock prices, according to regulators at the Securities and Exchange Commission (SEC), Reuters reports.
Community News

Mid-Size Firms Unite to Capture Big Four Business

A national network of 22 mid-size accounting firms is marketing itself as one company to draw business away from the Big Four.The network is called Baker Tilly USA, and it opened for business Monday, offering tax, audit and consulting services under one brand name, according to the Washington Post. "We're coming at a time when the business market is crying out for alternatives to the Big Four, and we believe our structure can fill that void," Geoff Barnes, chief executive and president of Baker Tilly International, told the Post.
Technology

U.S. Is Third Among World’s Most Globalized Nations as Population Hits 300M

Singapore remains the most globalized nation in the world, according to the 2006 A.T. Kearney/FOREIGN POLICY Magazine Globalization Index™. American technological connectivity, however, has helped the U.S. move into the third place in the annual study which assesses the extent to which the world’s most populated nations are becoming more or less globally connected. Switzerland took over second place.
Tax

The Best, and Worst, State Tax Climates for Business

When it comes to gaining or losing jobs, the Department of Labor (DoL) reports the most mass job relocations occur between U.S. states, rather than jobs moving out of the country entirely.
Tax

Goldman Sachs Added as Defendant in Fannie Mae Suits

In a time of increased scrutiny on brokerages, Goldman, Sachs & Co. has been added as a defendant in lawsuits related to questionable accounting practices by mortgage giant Fannie Mae.Complaints allege that Goldman, Sachs & Co. violated U.S. securities laws while allegedly arranging Fannie Mae-sponsored bond deals, the brokerage said in its quarterly report with the Securities and Exchange Commission (SEC).
A&A

Islamic Accounting: Challenges, Opportunities and Terror

Recent events, from the start of Ramadan, to the Pope’s controversial remarks about Islam, to the discovery of a new tape by two of the September 11 attackers, to the release of Bob Woodward’s latest book, have once more made Islam a topic of conversation. Beyond the headlines, however, exists a complex religious and social system that affects far more people than just Muslims.
Technology

E-tutoring Now Available to Accounting Students

Accounting students, struggling with a problem in the middle of the night, can now get live help from one of the new online tutoring companies.Based in India and the U.S., these firms employ tutors from around the globe, using a combination of Voice over Internet Protocol (VoIP), instant messaging (IM) and a virtual white board to which the student and the tutor both have access, Reuters reports. Smarthinking.com provides tutoring through individual accounts, college and institutional accounts and its partnership with the publishing company, Houghton Mifflin, Co.
Community News

Acquisition Enhances Grant Thornton’s Recovery & Reorganization Practice

Grant Thornton LLP has acquired the Restructuring and Performance Improvement (RPI) Group of Stout Risius Ross, Inc. (SRR). The acquisition complements existing global automotive expertise of Grant Thornton International (GTI) member firms and enhances the U.S. Recovery and Reorganization Services practice of Grant Thornton LLP, the U.S. member firm of GTI.“This acquisition adds yet another high-quality, value-added service to our suite of services,” said Paul Wolber, Detroit (Mich.) Office Managing Partner, in a prepared statement announcing the acquisition.
Education & Careers

Study Finds Young Workers Displaced by New Immigrants

That the arrival of new immigrants in a state results in a decline in employment among young native-born workers in that state is just one of the stark images revealed by the authors of The Impact of New Immigrants on Young Native-Born Workers, 2000-2005.
Community News

Canadian CFOs Forecast Steady Fourth-Quarter Hiring

Hiring activity among Canada’s accounting and finance professionals is expected to remain steady during the fourth quarter, according to the quarterly Robert Half Financial Hiring Index.

Regulators Begin Extra-Territorial SOX Inspections

The Public Company Accounting Oversight Board (PCAOB) has confirmed that more than a dozen inspections of foreign audit firms have been carried out under the U.S. Sarbanes-Oxley Act of 2002 (SOX). The London offices of Ernst & Young are among those identified by the media as subject to recent inspections.
Practice Management

Chicago, Orange County Firms Join TIAG

Two American accounting firms, BrookWeiner LLC of Chicago, Ill., and Corbin & Company in Irvine, Calif., joined U.S.-based The International Accounting Group (TIAG) earlier this month.
Community News

Succeeding in a Varied Business Culture

Today, many people do business outside of their own country, either in person or by some form of communication, and this can prove to be a dicey proposition. Even in the United States there are differences in customs between states and regions.

$1 Million Donation & New Office Show Canadian Support for IFAC

Beginning in September, some of the staff of the independent standard-setting body, the International Public Sector Accounting Standards Boards (IPSASB), including new Technical Director, Stephanie Fox, move in to a new office in Toronto, Canada.Advertisement
Tax

User Fees for U.S. Residency Certification Announced

Beginning with submissions received with a postmark on or after October 2, 2006, the Internal Revenue Service (IRS) will charge a user fee for processing Form 8802, Application for United States Residency Certification.
Technology

The Two Sides of Cleaning Up E-Waste

The information superhighway is littered with the technology used to get on it.
Tax

IRS Auditing PwC’s Pension Plan, Deductions, Income Transfers

PricewaterhouseCoopers LLP (PwC), the world’s largest accounting firm, is being audited by the Internal Revenue Service (IRS), Bloomberg News reported Friday. Officials at PwC initially refused to comment on the Bloomberg report, which was based on company documents and IRS documents provided to Bloomberg.

IFAC Publishes New Paper on Ethics Education

“The paper is the result of a wide-ranging research project into ethics education in the worldwide accountancy profession. It is designed to stimulate discussion and debate on the subject of ethics education,” states International Accounting Education Standards Board (IAESB) Chairman Henry Saville.
Practice Management

Collections of Articles and Pronouncements Available

The Financial Accounting Standards Board (FASB) and the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) have announced the availability of their 2006 collections.Advertisement

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