Technology Workshop
Now that technology has reached a temporary plateau, it makes sense to pause and consider the future direction of your business and whether your current technology is up to it. It’s also a good time to fine-tune your current computer and telephone setup to see where upgrades are needed.
Personal Financial Planning
Does your client need long-term-care insurance? The answer depends on a variety of factors including his or her age, income, net worth and willingness to self-insure. With rising nursing home costs, CPAs should not fail to help clients plan for what could be a drain on their retirement resources.
Insurance Issues
Employers that want to provide highly compensated executives with more disability insurance benefits than the standard company-paid plan can negotiate group buy-up policies.
Professional Issues
When William F. Ezzell was nominated to be AICPA vice-chairman, the accounting profession’s reputation was intact. Now, after two tumultuous years, restoring its image is Ezzell’s top priority as incoming chairman.
Fraud
Among the ways workers can defraud their employers is by adding fictitious employees to the company roster and collecting their paychecks. But by being alert to certain clues, auditors can uncover such schemes before losses become material.
Auditor Independence / Practice Management
Changes to auditor independence rules in 2001 gave CPAs more freedom to buy and sell securities, including those of their clients. The new regulations increase the possibility that firms may violate insider trading laws unless they are careful. This article summarizes those laws, illustrates how risks can arise and guides accounting firms in protecting against them.
Corporate Governance
Executive pay is once again in the crosshairs of public opinion, presenting new challenges—and opportunities—for accountants who advise the compensation committees of publicly traded companies. CPAs must understand the issues driving today’s compensation practices to help businesses design pay programs that promote good governance.
Practice Management / Work / Life Issues
Small and midsize firms can keep staff happy, deliver better client services and build in de facto work-interruption insurance by instituting teleworking, sources say. Here’s how some firms use it to increase productivity.