Trends | AccountingWEB


The Sinking of a Giant - Andersen Goes Under

2002 Year-in ReviewIn January 2002, Senator Joseph Lieberman appeared on CBS' Face The Nation talking about the revelations that Arthur Andersen destroyed documents in the Enron investigation. Lieberman prophetically declared that, "this Enron episode may end this company's history." Even the brilliance of hiring Paul Volcker to reform the firm didn't help Andersen. Within two months Andersen was indicted on criminal charges. Three months later the firm was found guilty, and two months after that formally surrendered it's license to practice auditing.

Accounting Reform Takes Center Stage

2002 Year-in ReviewEveryone - Congress, the GAO, the SEC, financial executives, CFO groups, overseas regulatory agencies, the AICPA and other organizations - weighed in on "the new way" that auditors should perform their duties, and CPA firms should be policed.
Community News

MAP Survey Shows Stability Among Local Firms

The results are in from the 2002 PCPS/TSCPA National Management of an Accounting Practice (MAP) Survey, sponsored by the Texas CPA Society and PCPS, the AICPA's Alliance for CPA firms.
Community News

Blow The Lid Off The Old Way Of Accounting

By, Neil GuilmetteMarketing - Business owners are sophisticated and demanding today. Economic conditions have created a focus on value provided, and the availability of abundant information has expanded their knowledge of business in general. Further, partly as a result of the profession’s own educational and marketing efforts, business owners tend to perceive CPAs’ services as all being the same, and CPAs’ themselves as interchangeable with one another.

'Top Read Articles On AccountingWEB 2002'

Top 20 Most Read Articles Ten Hottest Jobs For The Next Ten Years Andersen Worldwide Network: Who's Going WhereTop 10 Technology Predictions For CPAs For 2002Student Perspectives on The Accounting ProfessionRumors and Realities in Big Five Recruiting Pr
Community News

Perspectives of a Life Member of The AICPA


COMDEX Gadget Recap

By Roman H. Kepczyk, CPA, CITPInfoTech Partners North America, Inc. walked the floors of COMDEX and attended a variety of panel discussions to bring you first hand experience in regards to the tools and technologies slated to hit the market in the next year. Amongst the strongest trends were: tablet computing, security, wireless technology, and a changing of the PDA guard. In addition, we have featured some of the goofiest techs and tools to show you that the concept of “medicated creativity” may still be around.

More Enron Fall-out - Corporate Governance Ratings

In another wave of post-Enron fall-out, GovernanceMetrics International (GMI), a new rating agency, released its first report of corporate governance rankings covering the S&P 500. Several established rating agencies are expected to follow suit in 2003 by issuing similar rankings.GMI says its initial subscribers include institutional investors, including mutual funds, money management firms and pension funds.

Former SEC Chairman Rails Against Accounting Profession

In a recent webcast, former Securities and Exchange Commission (SEC) Chairman Arthur Levitt railed against the accounting profession, said the problems extend well beyond a "few bad apples," and conducted a real-time poll of CFOs and senior financial executives to prove his points. "In general, accountants are fair, decent, hard working, unappreciated people," said Mr.

New York City Hosts Blitz of Post-Enron Conferences

Why are out-of-towners teeming into Manhattan for the holidays this year? It could be the opportunity to do some Christmas shopping along Fifth Avenue, take in a matinee at Radio City Music Hall, or catch a Knicks game at Madison Square Garden... But, no, the hottest tickets in town this holiday season are to the many booming post-Enron conferences.The price tags of these events range from free to $2,000 per attendee. Many are held at posh hotels and clubs.
Community News

Grant Thornton Ranks Top Middle Market Concerns

Research by Grant Thornton identifies business planning in uncertain times as one of the top concerns of business owners and executives of middle market companies.

Growing Demand For Pre-Deal Audits Slows M&A Activity

In the aftermath of bad investments and troubled loans, both corporate buyers and their lenders are looking to accountants to do more upfront audits as part of pre-deal due diligence.

Study Shows Women Less Likely to Cheat on Taxes

Results of a study released by several professors show women are less likely to cheat on their taxes than men and they are less tolerant of others who admit to cheating on their taxes. The study helps to answer the question seemingly on everyone's mind these days: "Are women more ethical then men?"The question was debated last week at Deutsche Bank's "Women on Wall Street" conference where panelists wondered why so many of the recent whistle-blowers have been women.

Top Selling Books On AccountingWEB

AccountingWEB has compiled a list of the top selling books over the last year on our site. Browse this selection below to see if you need to add any of the reading materials to your library? Note: The books are not listed in any particular order.
Practice Management

9/11 One Year Later: Firms Brace for Cyber Attacks

One year after the terrorist attacks on the World Trade Center and the Pentagon, most security experts polled by CSO Magazine said they consider the threat of electronic attacks a greater concern than the risk of future physical attacks. Nearly half expect a major cyber attack by a terrorist organization within the next year. Thanks to the foresight and hard work of security workers everywhere, the nation is better prepared today than it was a year ago.

Labor Day Report Exposes Excessive Executive Pay

On-going publicity of lawsuits and investigations related to accounting irregularities have brought the issue of excessive executive pay back into the limelight this Labor Day. Leading the rallying cry for reforms are two liberal policy groups, the Institute of Policy Studies and United for a Fair Economy. A report recently released by these groups shows that poor accounting pays off for some CEOs, despite the harmful consequences for workers and shareholders.

Accounting Scandals Take a Toll on Bank Lending Practices

The Federal Reserve Board recently reported that few banks have encountered significant problems with the accuracy or completeness of financial statements submitted to them, but many are tightening up lending practices after widely-publicized accounting scandals and accusations about the roles of banks in cover-ups of unexpected business failures. The Fed's report is based on a survey conducted from May through July.

Companies Report More Conservative Pro-Forma Earnings

Although the Securities and Exchange Commission (SEC) has warned investors about relying on pro-forma earnings, some well-known companies still reported earnings with these numbers during the second quarter reporting season.
Education & Careers

Forensic Accounting - A Basic Guide to The Profession

By, Alan Zysman, B.Comm, CA·IFA, CFEForensic accounting has existed for many years. With the growing complexities of the business environment and the growing number of business related investigations, forensic accounting professionals are increasingly asked to assist in the investigation of financial and business related issues.What is Forensic Accounting? The integration of accounting, auditing and investigative skills yields the specialty known as forensic accounting.

Tax Holidays Spur Shopping Sprees

Several states are gearing up for back-to-school shopping with tax holiday programs designed to help taxpayers through a time of heavy spending and to give a boost to the local economy. The idea has been around for five years, ever since New York tried a tax holiday in 1997.


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