FYI


The Accounting Hall of Fame inducts Phillip W. Bell, Edgar O. Edwards and James J. Leisenring into its ranks. Bell served on many university faculties in the United States and has held visiting professorships throughout the world. He and Edwards, who taught at Princeton and Rice Universities, are coauthors of a well-known and respected text, The Theory and Measurement of Business Income, published in 1964. Leisenring is a former FASB vice-chairman and current member of the International Accounting Standards Board. Ohio State University’s Fisher College of Business established the Accounting Hall of Fame in 1950. Since then, the hall’s international board of electors has admitted to its rolls 73 influential and esteemed accountants from education, accounting practice, government and business.

The Financial Accounting Foundation (FAF) elects Robert E. Denham its chairman and president, effective January 1. FAF oversees and funds the activities of FASB, GASB and their advisory councils.

The SEC reappointed Charles D. Niemeier to the Public Company Accounting Oversight Board for a five-year term upon completion of his previous one-year term in October. Prior to his initial selection for the board, Niemeier was chief accountant in the SEC’s division of enforcement. The commission also announced the appointment of Kimberly Smith and Mary Brady Greenawalt as academic accounting fellows, each for one-year terms that began in August.

The Institute of Management Accountants and Robert Half International, an accounting and finance staffing company, name Nicholas Malden of Ventana Medical Systems Inc. of Tucson, Arizona, the winner of its 2003 national Financial Executive of the Year Award. Twenty other individuals won regional awards for excellence ( www.roberthalfmr.com/PressRoom?LOBName=MR&releaseid=391 ).

The American Accounting Association grants its Accounting Exemplar Award for 2003 to Cynthia Cooper, vice-president of internal audit at MCI, for her efforts to promote professionalism and ethics in accounting practice.

SPONSORED REPORT

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.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

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.