AccountingWEB News Wrap-Up - Issue 211
- NYSE Chief's Pay Package Under SEC Scrutiny
- Grant Thornton Ends Select Services For Audit Clients
- Debit Cards Facilitate Use of Flexible-Spending Accounts
- Tax Lawyers Exit Big Four, Head For Law Firms
- PCAOB Miscalculation Leads to Criticism, Correction
- BearingPoint Restates Earnings, Faces Legal Action
- New Security Alert Issued by Microsoft
- Investor Lawsuits Settled With Governance Changes
- Deloitte Relieved of Duties After Questioning Accounting Methods
- Virginia Tax Amnesty Program Underway
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These days following the Labor Day holiday always remind me of the back-to-school feeling after taking the summer off from school as a kid. Remember that first day of school? Your mind really has to make a mental shift from "off" to "on" as you get recalibrated to get back to the business at hand.
For many professionals, this calendar change into September should also be a reminder of "it's time to get back into the swing of things." What have you been putting off, or procrastinating on, for the last few months because of client vacations, staff vacations, holiday "mindsets" or other "now-is-not-the-right-time" beliefs?
Well my friends, summer is over and now is the time to get back to work. Contact that client. Mentor that staff person. Call that prospect. Realign your business plan. Because pretty soon you will have the excuse of the Thanksgiving holiday, then it will be Christmas, then of course it's busy season and it will be May again before anything gets done. . .
Michael Platt, CEO
e-mail Mike Platt
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With executive pay packages under increased scrutiny after recent scandals, the Securities and Exchange Commission (SEC) is looking into the compensation of Richard A. Grasso, chairman of the New York Stock Exchange.
Grant Thornton LLP, announced that it will not provide a number of services for its public audit clients that it believes is in keeping with the intent of the Sarbanes-Oxley Act of 2002.
Flexible spending plans offered by some corporations just got a whole lot easier to use, with new rules allowing debit cards to track the use of pretax dollars employees put away to pay for medical expenses not covered by health plans. Also, the Treasury Department and the IRS announced over-the-counter drugs can be paid for with pre-tax dollars through health care flexible spending accounts.
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Six high profile tax attorneys have left their positions with a Big Four firm, and have landed at DC law firm Shaw Pittman. Is this the start of a trend? Shaw Pittman thinks it is.
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Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.