Securities


Amid ongoing turbulence in the equity and debt markets, Paul F. Roye, director of the SEC’s investment management division, warns investment companies—also known as mutual funds—against laying off essential compliance personnel to cut costs. U.S. mutual funds’ combined assets climbed 3.1% to $6.6 trillion at the beginning of October, says the Investment Company Institute, a trade group. But while the gain surprisingly took place in the aftermath of the September 11 terrorist attacks, it did little to reverse the extended downward trend during which total fund assets dropped by 5% from December 2000. ( www.sec.gov/news/speech/spch528.htm ; www.ici.org/facts_figures/trends_1001.html )

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The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.