According to Grant Thornton’s 14th Annual Survey of Bank Executives, more than seven in 10 bankers (73%) plan to increase technology spending in 2007. Respondents cited several technology issues as important to their banks’ success, including: Protecting customers’ information (96%). Assuring the security of Internet services (94%). Verifying systems operations
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Two Years and Counting
EXECUTIVE SUMMARY This article examines the first two years of section 404 reporting data to determine whether section 404 has accomplished its intended purpose and what small companies can learn from the experience of large companies that have implemented section 404 requirements. The number of companies reporting material weaknesses in
Closing the Gaps in GAAP
EXECUTIVE SUMMARY GASB regularly issues implementation guides, which are staff “question and answer” (Q&A) documents that are intended to reflect the GASB staff’s understanding of the board’s intent when it adopted the related statements. Implementation guides have a relatively low level of authority in the government
Technology Boosts Counterfeit Circulation
The U.S. Secret Service seized $62 million of counterfeit currency in the 2006 fiscal year, up 69% from 2003. About 54% of the fake currency collected was produced digitally, most likely using home computers and printers; in 1996, only 1% was made using digital technology. Source: USA Today.
Small Business
The Office of Advocacy of the U.S. Small Business Administration (SBA) recently published a State Guide to Regulatory Flexibility for Small Businesses to help states implement regulatory flexibility programs for small businesses. SBA studies have shown that small businesses account for 93% of businesses in every state; yet businesses with
Collaborate on the Web
Here’s the problem: Your three-partner CPA firm based in Boston is on a tight deadline to prepare an audit report for a client. One partner is at the client’s Philadelphia headquarters; another is traveling in Houston; and you’re in Boston. The three of you must collaborate on
Put Your Computer On Hibernation
It’s not called a lullaby switch, but you need to take some steps to make hibernation possible. Hibernation is a useful function; its purpose is to save electricity without actually turning the computer off and spare you the start-up delay. When a computer is in hibernation, all functions appear
AICPA Criticizes Foreign Currency Regs
Proposed regulations amending IRC section 987 may frustrate the intent of the Tax Reform Act of 1986 and place an undue burden on taxpayers, the AICPA said. The new regulations establish a “foreign exchange exposure pool” method of reporting gain and loss transacted in a foreign currency. Comments developed by
Help Prevent Identity Theft
Most companies keep sensitive personal information in their files and in their computers—names, Social Security numbers, account data—that identifies customers or employees. Companies need information like that to fill orders, meet payroll or perform other necessary business functions. But if sensitive data falls into the wrong hands,
IFRS: Coming to America
EXECUTIVE SUMMARY International Financial Reporting Standards (IFRS) are destined to be the lingua franca of the international accounting world. Approximately 100 countries already require, allow or are in the process of converging their national accounting standards with IFRS. FASB and the IASB have agreed to converge
Identifying Files Graphically
When you upgrade to Vista, you’ll discover many graphically oriented features that not only will make them easier to find, but will give you visual information about what they contain. Although XP is quite limited, here are a few graphic tricks for icons: Although you can’t convert the icons
Professional Issues
A series of free Feed the Pig podcasts was recently launched to educate the public, especially 25- to 34-year-olds, on how to take control of and maintain their finances. “Dealing With Student Loans” was the first of five podcasts featuring Jordan Amin, a young CPA. In this episode, he provides
Collaborative Fraud Networks on the Rise
Cyber criminals must adapt their collection methods to remain undetected, and it seems they’re linking together to make this happen. The latest Symantec Internet Security Threat Report found the underground networks and servers used to sell stolen data are becoming increasingly collaborative. During the last half of 2006, the number
XBRL
Three federal banking agencies have launched an improved Web site that allows faster access to banks’ quarterly Reports of Condition and Income (Call Report) data. The Central Data Repository (CDR) at https://cdr.ffiec.gov/public , established by the Federal Reserve, the FDIC and the Office of the Comptroller of the Currency, now
Managers’ Reputations Outshine Execs’
More than half of employees are happy with their manager’s performance (52%) and honesty (60%), but top executives did not receive equal praise. According to a survey by Robert Half International and CareerBuilder.com, only 44% of workers are satisfied with executive performance and 40% believe executives are trustworthy. The percentage
Ruben Davila, CPA, MBA, J.D.
Professor, University of Southern California When I take my students to places like Thailand and Singapore, they have to leave their American conventions behind. They see what a great impact culture has on the way business is done. You can read about what it’s like, but the
Stack Spreadsheets On The Screen
» Key to Instructions To help readers follow the instructions in this article, we used two different typefaces: Boldface type is used to identify the names of icons, agendas and URLs. Sans serif type shows the names of files and the names of commands and instructions that users should type into
Firms Not Planning for Booming Retirements
Almost 40% of companies have made no projections about the retirement rate of their employees and more than 25% have not even analyzed their work force demographics, which might unexpectedly jeopardize employer success, according to The Center on Aging and Work/Workplace Flexibility at Boston College. The study found that, although
The World’s Dumbest Fraudsters: Roundup Edition
If you thought the 24-year prison sentence handed to former Enron CEO Jeffrey Skilling was severe, think again. A Chinese court has ordered Wang Zhendong to death for his role in a fraud case. Zhendong conned more than 10,000 investors out of $390 million by falsely convincing them that he
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How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
