News Wrap-Up - Issue 250

This News Wrap-Up Brought To You By:

Arouba Technologies

PolicySoft Accounting Department Templates

THIS WEEK'S NEWS
  1. Computer Associates Investors Sue over Past Executive Pay
  2. Bill Would Require Some Tax Preparers to Register with IRS
  3. PCAOB Finds "Significant" Issues in Review of Big Four Audits
  4. Pension Funds Sue Shell Seeking Damages, Governance Changes
  5. SEC Chair Donaldson Subject of Probe by His Own Agency
  6. GAO Backs FASB's Action on Stock-Option Expensing Rules
  7. SEC Chief Accountant Open to Delaying Stock-Options Expensing
  8. IRS Warns about Improper Deductions for Land Donations
  9. Three Ex-Rite Aid Executives Begin Prison Terms for Scandal
  10. Effort to Disqualify KPMG as MCI's Auditor Unsuccessful
  11. New IRS Publications Focus on Car Donations
  12. Banc One Unit Agrees to Pay $50M to Settle SEC Charges
  13. Freddie Mac Spent a Whopping $376M Fixing Accounting Issues in 2003

Check out the News Page for this week's news and more.

*** SPONSOR OFFER ***

Arouba Technologies - Free Web Cast Seminar

The chain reaction of "SOX 404" and the "2nd CPA firm" will
permeate and provide opportunities for CPA firms of all sizes. Firms with available manpower & resources will cash-in on this opportunity. Join us for a free webinar, where we will discuss the effects of this higher demand & dwindling supply of accountants. We will discuss retaining and adding to your customer base in spite of the onslaught of the big fish. Register here today!

If you've forgotten your login details, we can send you a reminder.

THIS WEEK'S NEWS
  1. Computer Associates Investors Sue over Past Executive Pay

An investment group that holds shares of Computer Associates International Inc. is seeking more than $1 billion that it claims was paid to executives under false pretenses.

  1. Bill Would Require Some Tax Preparers to Register with IRS

A bill that is winding its way through Congress would require certain tax preparers to register with the IRS by passing a qualifying exam and annual exams afterward.

  1. PCAOB Finds "Significant" Issues in Review of Big Four Audits

When it comes to the quality of work by Big Four accounting firms, "there's room for improvement," according to the chairman of the Public Company Accounting Oversight Board. Chairman William McDonough told lawmakers last week that limited reviews conducted last year of corporate audits found "significant" auditing and accounting issues.

*** SPONSOR OFFER ***

PolicySoft Accounting Department Templates

AccountingWEB is pleased to bring you tools that can help systematize the accounting department of a small company, corporate business or a public accounting firm. Over 200 accounting department policy templates, written in Microsoft Word format by PolicySoft, are available individually or in groups for immediate download. Systematize your department today!

  1. Pension Funds Sue Shell Seeking Damages, Governance Changes

Two pension funds filed suit last week against more than two dozen directors and officers of the Royal Dutch/Shell Group and their accounting and audit firms, PricewaterhouseCoopers International and KPMG International.

  1. SEC Chair Donaldson Subject of Probe by His Own Agency

The Securities and Exchange Commission (SEC) is looking into accounting irregularities at a technology company whose audit committee once included SEC Chairman William Donaldson. According to anonymous sources, the accounting problems at EasyLink Services Corp. of Piscataway, N.J., may involve questions of revenue recognition.

MORE HEADLINES...

  1. GAO Backs FASB's Action on Stock-Option Expensing Rules
  2. SEC Chief Accountant Open to Delaying Stock-Options Expensing
  3. IRS Warns about Improper Deductions for Land Donations
  4. Three Ex-Rite Aid Executives Begin Prison Terms for Scandal
  5. Effort to Disqualify KPMG as MCI's Auditor Unsuccessful
  6. New IRS Publications Focus on Car Donations
  7. Banc One Unit Agrees to Pay $50M to Settle SEC Charges
  8. Freddie Mac Spent a Whopping $376M Fixing Accounting Issues in 2003

$$ PREMIUM SUBSCRIPTION CONTENT $$

See a sampling of this week's featured content below. Subscribe today for only $49/year and gain access to the Premium Content Archives. If you've forgotten your login details, we can send you a reminder.

  1. What Your Staff Needs to Know When Dealing with Clients
  2. Top Mistakes Companies Make in Computer Crime Prevention
  3. Daily Habits for Developing the Art of Leadership
  4. Top Ten Strategies for Boosting Small Biz Profits

HOT TOPICS ON ACCOUNTINGWEB

If you've forgotten your login details, we can send you a reminder.

  1. Consumers Don't Have a Clear Image of Check 21 Law and Its Impact
  2. SEC, PCAOB Offer FAQ's on Auditing Standard No. 2
  3. Jury Awards $6.4M in Damages against Payroll Service Provider
  4. Many Companies Fail to Achieve Success with Pay-for-Performance Programs
  5. Study: Credit Report Errors Common, Damaging

ACCOUNTINGWEB HELP

Are you looking for some information about AccountingWEB and can't find it elsewhere? Do you need to change your password, or update your e-mail address? Take a moment and view our "Help Page" for information on how to utilize the AccountingWEB Service.

WHAT'S ON ACCOUNTINGWEB

ACCOUNTINGWEB MARKETING SOLUTIONS

Let AccountingWEB help your organization customize a marketing campaign for your products and services. Make sure you book your ad campaign in advance! Get your message in front of our audience of accounting and finance professionals today. Our team can help you uncover promotional opportunities that are right for you.


Your Personal Membership Information

Take a moment today to ensure that we have accurate, up-to-date information in our records. Just go to your Profile Page and login to update your information today! If you've forgotten your AccountingWEB.com login details, we'll send you a reminder.

Premium Subscriber Information

Access to the growing library of the latest insights, ideas and tools is available for only $49 a year. Subscribe today!

Copyright © 2004 AccountingWEB, Inc.
All rights reserved.
http://www.accountingweb.com
"To inform, to enrich, to enlighten, to entertain."

Contact AccountingWEB, Inc.
P.O. Box 68748, Indianapolis IN 46268
Contact Us

You may like these other stories...

Which of America’s major cities offer the most favorable tax structures for businesses? According to a study released on Tuesday by KPMG International, the top five in the United States are Cincinnati, Cleveland,...
Contact: Dave Shatkowski, Indiana CPA Society Phone: (317) 726-5022 Email: dshatkowski@incpas.org INDIANAPOLIS - After four years of planning and development, the CPA Center of Excellence® is ready to take CPAs to the...
On any normal day Katie Bailey, audit manager at CPA firm Dauby O'Connor & Zaleski, LLC (DOZ) in Carmel, Indiana, would definitely consider herself an active person. She runs 20-plus miles a week, logs lunch hours in...

Already a member? log in here.

Upcoming CPE Webinars

Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.