The Cost of Complying With Everything!

Nobody ever said following the rules was cheap. In 2005 organizations will spend nearly $15.5 billion on compliance-related activities, according to a study by AMR Research ( ). The amount could grow to $80 billion over the next five years.

Not surprisingly, the largest line item (for complying with rules ranging from the Sarbanes-Oxley Act of 2002 and Food and Drug Administration regulations to the Health Insurance Portability and Accountability Act of 1996 and document and record retention requirements) was internal staff costs. Technology spending was second; it represented some 42% of HIPAA compliance expenditures. The most expensive initiative? Sarbanes-Oxley, which eats up 39% of all compliance spending.

The high costs have caught some companies by surprise. In 2004 almost two-thirds had to pull money from other areas to help fund compliance projects.


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.