AccountingWEB News Wrap-Up - Issue 216
- PCAOB Adopts Final Rules For Inspections of Firms
- "Touche" Goes The Way of "Haskins" and "Sells"
- CPAs Band Together to Confront AICPA
- SEC Charges 5th KPMG Partner in Xerox Case
- Computerized CPA Exam Webcast Series Launched
- Sun CEO Apologizes For "Wacko" Remarks
- GAO Finds Public Companies Limited in Auditor Choices
- IRS Investigates Corporate Donations of Patents
- Enron Employees' E-Mail Provides Interesting Reading
- Klotsche Joins IRS to Help Combat Abusive Tax Shelters
Don't miss the Hot Topics, Premium Content and more in this week's News Wrap-up.
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Are the strange events in the California recall this week an isolated incident of "wacky California politics" or is there a deeper message for all of us who serve a constituency - regardless of whether we call them voters, or members, or clients or customers?
I believe that the wake up call has been made to anyone occupying the seat of "incumbent" - whether you are returning to audit a longstanding client or are a consultant who has been offering your services to that "favorite client" for a number of years. The call is a mandate to "shut up and listen" to your constituents, your clients, actually hear what their pain is, and deliver results that they feel are of value.
Politics as usual - business as usual - isn't cutting it anymore. California has always been a trendsetter, so now might be a good time to take a deep look at the lessons learned and see how you can apply them in your business, before you wake up the next morning and find yourself reading the help wanted ads.
Michael Platt, CEO
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On Tuesday of this week, the Public Company Accounting Oversight Board adopted final rules relating to inspections of registered public accounting firms. Consistent with Section 104(a) of the Act, the Board's rules would subject registered public accounting firms to such regular and special inspections as the Board may from time to time conduct.
"Deloitte, Haskins & Sells" was once the brand that everyone recognized as one of the leaders of the accounting profession. In 1989 "Deloitte & Touche" took over after the merger of two giants in the accounting industry. But now, as announced this week, the name will simply be, "Deloitte.".
The executive team of CPAs Reforming Our Profession (CROP), a self-described group of "concerned members of the AICPA," has submitted recommendations to council members of the AICPA with the hope of influencing the direction of discussions to be held at the AICPA's annual Council meeting.
A few seats remain for the Reluctant Salesperson Workshop on November 11-12 in St. Louis - and now you can save 10% by registering before October 20. Every firm has people on staff who are being asked to develop relationships and bring in new business, yet they may not really feel "cut out" for that role. This two day-workshop provides a realistic approach to practice development for CPAs - even those who are a bit reluctant. Additional dates available as well. Find out more today.
Thomas Yoho joins four of his KPMG LLP partners in facing Securities and Exchange Commission charges for his part in Xerox Corp. audits, the Associated Press reported.
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- October 15 is the last chance to reverse a 2002 Roth IRA conversion or to change a 2002 contribution from one type of IRA to another.
- The "New Color of Money", Colorized $20's Hit The Streets - More...
- Report Ranks Countries' Corruption Levels, US Ranks in Top 20 More...
- Accountants, Lawyers Face Death Penalty For Aiding Terrorists More...
- New IRS Material Helps Retirement Plans Stay Compliant More...
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- U.S. Companies May Receive Tax Windfall More...
- Former Deloitte Consulting Partners Form Consulting Practice More...
- IRS Announces Changes to Tax Return Centers For Ten States More...
- E-mail Communication Losing Favor in Virus, Spam Battle More...
- Sun CEO: Accountants Gone "Wacko", Investors Should "Go Nuts" More...
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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.