December 2009

AUDITING

Three years into the implementation of the risk assessment auditing standards (Statements on Auditing Standards nos. 104–111), this article captures some of the most important lessons learned and best practices that have emerged.

FORENSIC ACCOUNTING / FRAUD

Detecting Circular Cash Flow

A fraud scheme used to inflate sales and receivables can sting lenders.

FROM THE AICPA INSIDER GROUP

Don't Skimp on Scanners

Another tax season is coming and with it come renewed vows of “going paperless”—or at least going in that direction.

TAX / TECHNOLOGY

2009 Tax Software Survey

In our 2009 tax software survey, almost 10,000 CPAs assessed the tax preparation products they used this past tax season. Here are the full results on what they liked, and disliked, about their tax software.

FRAUD

Selecting the Right Investigative Resource

An allegation of financial statement fraud requires the right investigative approach. Follow these steps to assess an allegation of financial statement fraud and to identify appropriate resources to conduct the investigation.

FINANCIAL REPORTING / TAX

An Update on Accounting for Uncertainty in Income Taxes

FASB implementation guidance addresses pass-through and tax-exempt not-for-profit entities and financial statements of a group of related entities.

FINANCIAL REPORTING

IFRS for SMEs: The Next Standard for U.S. Private Companies?

Following the International Accounting Standards Board’s completion of its version of International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs), financial reporting experts introduce the new standard and assess whether it’s a viable alternative to U.S. GAAP for private company reporting.

PROFESSIONAL ISSUES

NABA: Forty Years of Growth

The National Association of Black Accountants reaches a milestone and continues to “Lift As We Climb.”