Auditing / Fraud
Manipulating inventory figures is the method of choice for companies that commit fraud. A 1999 study found that inventory overstatements constituted the majority of asset valuation frauds.
Business & Industry / E-Commerce / Technology
Business-to-business electronic marketplaces haven’t yet delivered on their promises to cut costs and expand markets for participating companies. But while these exchanges get their acts together, CPAs can use the time to help their employers and clients develop the technological capabilities they need to do business in the B2B arena.
Practice Management / Tax
The new SEC auditor independence rules cast a wide net. The rules might prevent tax practitioners from doing some of the tasks they traditionally perform in the tax area for audit clients, including representing the client before the Tax Court.
General Interest
E-Business Profile / Technology
Carolyn Sechler, CPA, says she got started with computers out of curiosity about how to do standard accounting tasks in a more time-efficient manner. Now she heads a 14-member workforce that performs IT and management advisory consulting along with traditional CPA services. A virtual office spanning several states and two countries connects the team.
Auditing / Business & Industry / Financial Reporting
One way CPAs can choose appropriate revenue recognition policies for their employers or clients is to understand the problems companies face in complying with SEC requirements under SAB 101 and look at questionable practices businesses should avoid.
Professional Issues
The profession's new Web portal will arm practitioners with tools that enhance the value of traditional services and recast CPAs as strategic business advisers.
Auditing
As financial transactions become more intricate and banking systems speed vast sums around the world, it’s easier for drug cartels and other money launderers to transform their ill-gotten gains into legitimate assets. More than ever, government and business rely on the accounting profession to help them control this threat to the international economy.
Technology Workshop
You can set up a spreadsheet in a what-if format to graphically demonstrate in real time the results of various financial scenarios.