A Sarbanes-Oxley Meditation


A Sarbanes-Oxley Meditation

Lately the world has seen many a catastrophe,
Terrorist war, tsunami, flood and financial impropriety,
Ingenious accounting manipulations,
Debt hidden in trading positions,
Expenses booked as acquisitions.

Congress knew what it must do, so
Sarbanes and Oxley took the cue.
To shore up corporate responsibility
They made law to test internal control sufficiency.

To prove fiduciaries diligent,
SOX required tests to document
And make every internal control evident,
A nightmare compliance requirement.

What ensued was…
Paper proving every debit,
Paper proving every credit,
Paper proof of calculations,
Paper proof of estimations,
Copier breakdown lamentations,
Alas, a paper whirlwind.

But criminals still await their fate,
Legislatures promulgate,
Audit fees did escalate, and
Accountants toil very late,
Reaping a paper whirlwind.

—Dan Habbart, CPA


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.