News Wrap-Up - Issue 261

This News Wrap-Up Brought To You By:

PPC's e-Practice Aids(TM)


PolicySoft's Accounting Department Templates

THIS WEEK'S NEWS
  1. PCAOB Adopts Amendments to Interim Auditing Standards
  2. House Votes to Bar IRS From Outsourcing Tax Collection
  3. NASD Examines Disclosure in 529 Plan Sales
  4. Democrats, Unions Hail Vote Against New Overtime Rules
  5. GAO: Consolidated Financial Statements Need Improvements
  6. Ernst and Young Settles $12M Over Billing Charge
  7. Former Executive Joins Most Wanted List
  8. IRS Hits AmeriDebt with $15 Million Claim
  9. Top Tech Companies Offer Solution to Stock Options
  10. Crackdown on Back Taxes Spurs Banks to Consider Settlements
  11. Enron Sells Pipelines, Uses Proceeds to Fund Pension Plans
  12. Court Paves Way for Oracle-PeopleSoft Deal

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

*** SPONSOR OFFER ***

PPC's e-Practice Aids(TM)

Introducing PPC's e-Practice Aids powered by Microsoft(R) Word and Excel. PPC e-Practice Aids(TM) work with leading paperless engagement software or with Word and Excel alone. PPC's e-Practice Aids include value added productivity features that save completion and review time. Experience improved productivity and convenience, immediately! Click here for more information or call our e-tool specialists now at 888-823-3676.

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

PLATT'S PERSPECTIVE

When I was getting ready for work this morning, I was watching an interview with a group of people who ignored official warnings to evacuate from the path of Hurricane Ivan and they told a harrowing story of panic and fear. Later, on my way in to work, I was listening to National Public Radio and they were discussing the results of a recent survey indicating a majority of Americans would not heed the warnings of government officials in case of a dirty bomb or biological terrorist attack because they weren't sure that the government had all the right answers.

What struck me about these reports is that a lot of money is being spent to develop very detailed plans, but the best plan in the world is useless unless you have the trust, faith, buy-in and commitment of the people who need to follow the plan. Think of your own organization. Whether it is an overall strategic plan, a business plan, a marketing plan or a disaster plan, the best plan in the world means nothing unless people are prepared to follow it and be held accountable to it.

For those of you who have invested the time and money to put extensive plans in place, consider how well they are being executed. Are the players following the game plan? Have they bought in to the concepts underlying the plan? If left on their own will they follow the plan as it was developed? A thoughtful group presentation and a critical review of your firm's plans with the people you are counting on to carry them out could help expose flaws that would inhibit them from carrying out your well-thought-out plan. This type of meeting might just ensure that you actually arrive at your target. Something to think
about...

Michael Platt
Founder, AccountingWEB, Inc.
editor@accountingweb.com

THIS WEEK'S NEWS
  1. PCAOB Adopts Amendments to Interim Auditing Standards

The Public Company Accounting Oversight Board this week adopted amendments to its interim standards that conform the text of the interim standards to the requirements of PCAOB Auditing Standard No. 2.

  1. House Votes to Bar IRS From Outsourcing Tax Collection

The House of Representatives took a strong step this week in support of America's taxpayers by voting to keep their private and sensitive tax information out of the hands of debt collectors.

  1. NASD Examines Disclosure in 529 Plan Sales

It was reported that earlier this week as many as 20 securities firms were under examination by the National Association of Securities Dealers (NASD) for possible fee and disclosure issues involved with the sale of popular "529 plans."

*** SPECIAL OFFER ***

PolicySoft's Accounting Department Templates

We are 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.
Find out more today at!

  1. Democrats, Unions Hail Vote Against New Overtime Rules

Democrats were joined by 22 Republicans Thursday to block new overtime regulations that critics say would deny overtime pay for at least six million workers.

  1. GAO: Consolidated Financial Statements Need Improvements

This week the Government Accountability Office (GAO) issued 25 recommendations to address internal control weaknesses uncovered during the fiscal 2003 audit of the consolidated financial statements for the U.S. government.

MORE HEADLINES...

  1. E&Y Settles Billing Case for $12 Million
  2. Former Executive Joins Most Wanted List
  3. IRS Hits AmeriDebt with $15 Million Claim
  4. Top Tech Companies Offer Solution to Stock Options
  5. Crackdown on Back Taxes Spurs Banks to Consider Settlements
  6. Enron Sells Pipelines, Uses Proceeds to Fund Pension Plans
  7. Court Paves Way for Oracle-PeopleSoft Deal

$$ PREMIUM SUBSCRIPTION CONTENT $$

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. Employees Need Soft Skills - Good Manners Matter
  2. How Smart Leaders Reach Out
  3. Articulating the Values of Your Professional Service Firm

  4. From the Archives: Ex-Con Tells How Auditors Fail to Help Clients Guard Against Fraud

HOT TOPICS ON ACCOUNTINGWEB

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

  1. Company is Seeking Permission to Sue E&Y Over Merger
  2. New IRS e-service Revolutionizes Transcript Delivery
  3. Former CEO Gets 9 Years in Prison, $3.5M Fine
  4. Court Orders Hearing on IRS Whistle-blower Case
  5. IRS Puts Charities, Family Foundations Under Microscope

*** SPECIAL OFFER ***

The AccountingWEB Premium Subscription! Expert insight on managing an accounting practice, growing your business, professional development and personal improvement is just a click away for AccountingWEB Premium subscribers. Find out more today.

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


Already a member? log in here.

Editor's Choice