Starting salaries for accounting and finance professionals are expected to increase an average of 2.4 percent next year, according to the just-released 2005 Salary Guide from Robert Half International Inc. Internal auditors and professionals focused on Sarbanes-Oxley and other corporate governance-related initiatives will see the greatest demand for their services and, as a result, the biggest increases in base compensation, research shows. The 2005 Salary Guide is based on an analysis of the thousands of job orders managed by the company's U.S. offices.

Large hedge-fund advisers will be required to register with the Securities and Exchange Commission and undergo inspections starting in February 2006, the SEC decided Tuesday.The change was approved on a 3-2 vote and will only apply to hedge-fund operators who manage $30 million or more of assets, Dow Jones Newswires reported.SEC Chairman William Donaldson led the move for greater oversight of hedge funds. He said inspections would provide more information about the industry and prevent fraud. Failing to do so "would be a major dereliction" of the SEC's duty to investors, he said.

Will convenient access to savings in 401(k) plans encourage workers to put away more money for their future or tempt them to drain their retirement accounts?The debate over that question has raged for nearly 25 years, but the various theories will be tested in the real world soon. A new 401(k) credit card is set to be unveiled today at a financial conference in Washington, D.C.

President Bush has approved $136 billion in tax breaks for businesses, commercial property owners, farmers and others in a dramatic rewrite of corporate tax law.

Corporate financial professionals are questioning the accuracy and timeliness of credit ratings and believe the Securities and Exchange Commission (SEC) must take a more active role in promoting competition among the credit rating agencies, according to a new survey released today by the Association for Financial Professionals (AFP).According to the survey, a third of financial professionals (34%) believe that their company's ratings are inaccurate, while only 42% believe changes in their organization's rating are made on a timely basis.

The Governmental Accounting Standards Board (GASB) has published a proposed staff Technical Bulletin, Recognition of Pension and Other Postemployment Benefit Expenditure/Expense and Liabilities. The proposed guidance would clarify requirements on accounting for employers’ contributions to pension and other postemployment benefit (OPEB) plans in Statement No. 27, Accounting for Pensions by State and Local Governmental Employers, and Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.

By Jim Wagner, President & CEO, Trust Administration Services - Do you have clients that are frustrated with their retirement plans because of limited investment options or poor investment performance? Today many accountants are finding the answer to this question is a resounding YES.It is easy to understand why. It is estimated that investors lost in excess of $7 trillion in the equity markets from 2000 to 2002.

Accountants are often allowed to sell financial products, but most hate it. Financial planners enjoy selling, but maybe too much.According to CPA Nick Hodges and financial planner Keith Offel, a different philosophy is required to help clients solve their problems.

Financial planners are crying foul and asking the Securities and Exchange Commission to crack down on brokers who offer fee-based accounts and investment advisory services without having to follow the same strict rules required of financial planners, Dow Jones reported.The SEC has received more than 900 letters from financial planners urging resolution of an issue that has been around for years."These brokers are trying to provide essentially the same services that I provide as a financial planner," wrote Charles O'Connor, who runs a Torrance, Calif., advisory firm, and reported by Dow J