How Low Can They Go


How Low Can They Go?
S ecurities fraud class action lawsuits fell to a record low in 2006, says a report by Stanford Law School’s Securities Class Action Clearinghouse. The number of cases filed was the lowest since the adoption of the Public Securities Litigation Reform Act of 1995. Securities fraud class actions fell by 38% compared with 2005, from 178 filings to 110, making 2006’s numbers nearly 43% lower than the 10-year historical average of 193.

Twenty class actions related to options backdating allegations were filed in 2006. Last year’s complaints contained more allegations of specific accounting irregularities compared with 2005.

Source: http://securities.stanford.edu .

SIGN OF THE TIMES

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.