Trends

Community News

Definition of ‘Good’ Management Must Be Redefined Says Deloitte’s Tinkler

Harold Tinkler, chief ethics and compliance officer for Deloitte & Touche LLP, told an audience of professors and MBA students that corporate decisions should not be based solely on stock price and that this practice is harmful to sound, sustainable corporate stewardship.In a speech titled “Ethics in Business: The Heart of the Matter,” given to the Darden Graduate School of Business Administration “First Year – First Week” MBA program at the University of Virginia, Tinkler said, “In my experience with public companies, the overemphasis – in fact, it is more like a fixation –
A&A

Study: CEOs Who Outsourced More Took Home Larger Salaries

A new study on executive compensation found that chief executives who sent the most service jobs overseas made more money last year than other CEOs.At the 50 companies that outsourced the most service jobs, average CEO compensation rose 46 percent in 2003. CEOs at the 365 big companies surveyed by Business Week saw an overall 9 percent increase in 2003, according to the study by the Institute for Policy Studies and United for a Fair Economy.The two groups put out an annual “Executive Excess” report.
Community News

Workers Say Technology Is Effective, But Want More Staff and Training to Boost Productivity

Among U.S. workers who use computers on the job, an overwhelming majority (91 percent) believe that their employers provide them with the computers and technical tools they need to do their jobs effectively, according to a new national Hudson technology survey. AdvertisementPricewaterhouseCoopers Comperio!
Community News

Dixon Hughes Forms Alliance to Address Coding Staff Shortages at Hospitals

Dixon Hughes PLLC and Global Healthcare Resources, Inc., a leading provider of medical processing services, have formed an alliance to offer outsourced medical coding solutions to hospitals.Timely and accurate coding of medical records is critical for healthcare providers to minimize the billing and reimbursement cycle and optimize cash flow. Diagnosis and procedure codes bridge the gap between the clinical and financial reporting sides of healthcare.
A&A

Census Figures Show Slump in Women's Income

The gap in pay widened between men and women full-time workers last year, surprising analysts who could not explain why women's pay slumped for the first time in four years.Women made 75.5 cents for every dollar a man made last year, according to Census Bureau figures reported last week in USA Today. That figure in 2002 was 76.6 cents, an all-time high.
Community News

Study: Those Who Invest in Their Business, Grow Their Business

The adage "you have to spend a buck to make a buck" holds true, according to a new study of small business owners and accountants. Intuit Inc.'s annual "Voices of Small Businesses and Accountants Study" found that 64 percent of businesses and 73 percent of accountants who invested in their business reported growth in the last 12 months. "Investing in your business or in your accounting firm may sound like common sense, but it's often a scary proposition when things look uncertain in the economy," said Jill Ward, vice president and general manager of Intuit's Accountant Central group.
Community News

Study: Work Ethic Primary Conflict Among Different Generations

A new survey finds that 40 percent of human resource (HR) professionals have observed conflict among employees as a result of generational differences. In organizations with 500 or more employees, 58 percent of HR professionals reported conflict between younger and older workers, largely due to differing perceptions of work ethic and work/life balance. "Organizations recognize that the expertise and unique perspectives of a diverse workforce can contribute to the success of a company," said SHRM President and CEO Susan R. Meisinger, SPHR.
Tax

Tips on Spotting Bogus Mutual Fund Web Sites

High-pressure e-mails and phony Internet addresses that tout bogus mutual fund Web sites are a problem that investors must learn how to deal with in advance if they are to avoid being stung by such a scam, according to Pax World Funds. Last week, Pax World Funds issued six "phishing tips" that mutual fund investors can use to spot and avoid fake mutual fund Web sites, including those that are promoted by what may at first appear to be legitimate e-mail messages.In June, Pax World Funds cooperated with the U.S.
Community News

Brown Smith Wallace Opens Chicago Office

In response to Sarbanes-Oxley and increased attention from the National Association of Insurance Commissioners (NAIC), Brown Smith Wallace of St. Louis, an accounting and consulting firm, is expanding into the Chicago market. “The Chicago team, which will be located 200 South Wacker Drive, will serve the firms’ insurance and reinsurance clients in the upper Midwest,” says Brown Smith Wallace Managing Member Jeffrey Smith, CPA.
Community News

CEOs in Asia, U.S. & Europe Report Different Issues of Concern for Business Success

CEOs of Asian companies are more concerned with people issues such as stimulating innovation and acquiring toptalent, while U.S. and European CEOs are focusing on sustaining top-line growth as their economies recover, according to a global survey of chief executives released this week by The Conference Board. Fifty-one percent of CEOs in Asia report that stimulating innovation is their greatest concern, while 47% say acquiring talented managers is their greatest concern. Only 34% of CEOs based in Europe and 28% of U.S.
A&A

As Hiring Rebounds, Managers Seek a Different Labor Force

Hiring managers place a premium on teamwork -- even higher than qualities like ambition and the ability to think on their feet, according to a recent study from Development Dimensions International (DDI). DDI, a global human resource consulting firm specializing in leadershipand selection, surveyed 1,515 hiring managers to learn more about their experiences when interviewing, evaluating and hiring employees as they increase their workforces. For example, 75 percent of hiring managers surveyed want employees who are compatible in a team setting, while only 20 percent look for em
Practice Management

Cross-Selling Services: Companies Should Serve Well, Then Sell

Companies that want to sell more products and services through their staff, should pay better attention to basic customer service if they want to succeed. A new survey by The Forum Corp.

Mid-Sized Employers Still Outspend Large Employers On Health Care

The nation's small and mid-sized employers cut benefits in their health plans in 2003, holding the cost increase to 9.8% among employers with fewer than 2,000 workers. According to a survey report released today by Marsh Inc., which analyzes data from 1,904 such employers, the total cost of health benefits (medical, dental, and any other health plans offered) averaged $6,130 per employee in 2003. The smallest employers generally are keeping costs down by discouraging coverage of dependents and imposing high deductibles.
Community News

E&Y Improves Heart Safety in Offices Nationwide

According to a press release, Ernst & Young LLP, has purchased Medtronic's automated external defibrillators (AEDs) to treat incidents of sudden cardiac arrest at work. Ernst & Young has committed to installing Medtronic's LIFEPAK(R) CR Plus AEDs in its 95 offices in the United States. "By agreeing to implement our LIFEPAK AED program, Ernst & Young becomes a leader in the professional services industry when it comes to improving the health and welfare of its employees," said Robert White, president of Medtronic's Emergency Response Systems business unit.
Tax

Large Databases Can Mean Big-Time Fraud

Storing massive amounts of credit card information in one place proved to be a costly mistake for BJ's Wholesale Club Inc. earlier this year.Thousands of credit card numbers were stolen in what may have been the biggest retail fraud of its kind. Secret Service agents say the suspects arrested in the case may be connected to an international identity theft ring."There are some pretty heavy losses out there," Greg Smith, president of the Pennsylvania State Employees Credit Union, told the Associated Press.
Technology

Selecting a Spam Solution; The CPA Firm's Dilemma

by Matthew Wilson, MCSE, MCSA, Boomer Consulting Spam is a problem; everyone knows it. Most CPA firms know that it takes money to solve. However, most CPA firms don't know that it doesn't have to cost thousands of dollars per year. There are several ways to allocate the costs of dealing with spam.Let the users handle it? Many firms don't have a spam solution, and what they don't know is killing them. Each email user can spend up to an hour per day deleting email, trying to distinguish and sort the legitimate messages from the unsolicited bulk messages.

Sarbanes-Oxley Compliance Cost Estimates Soar Since January '04

Complying with Section 404 of The Sarbanes-Oxley Act will cost public companies an average 62 percent more than previously anticipated, according to a recent survey by Financial Executives International (FEI), the leading professional organization serving Chief Financial Officers and other senior financial executives.
Tax

IRS Initiative Will Scrutinize Exempt Organizations Compensation Practices

The Internal Revenue Service announced earlier this week a new enforcement effort to identify and halt abuses by tax- exempt organizations that pay excessive compensation and benefits to their officers and other insiders.As part of the Tax Exempt Compensation Enforcement Project, the IRS will contact nearly 2,000 charities and foundations to seek more information about their compensation practices and procedures. The IRS said the enforcement project will consist of examinations as well as other contacts.
Tax

Report: Thousands of Unique Phishing Attacks Occurred in June

Tumbleweed Communications Corp. and the Anti-Phishing Working Group last week released the Phishing Attack Trends Report for June 2004, an analysis of phishing scam attacks submitted to http://www.antiphishing.org, the Internet's most comprehensive archive of email fraud and phishing attacks. Analysis of over 1,400 attacks reported in June shows that 92% of all attacks use forged from addresses.
Tax

AICPA Ethics Committee Proposes Outsourcing Disclosure Rule

The Professional Ethics Executive Committee of the American Institute of Certified Public Accountants (AICPA) is proposing a rule that would require Institute members to disclose to their clients the outsourcing of professional services. “The outsourcing of services has been a subject of serious debate by members of Congress, the media, and state and federal regulators,” said Susan Coffey, AICPA Vice-President – Self Regulation.

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