lmost half (48%) of the top executives of U.S.-based multinationals said the country lost ground during the past five years in terms of its economic competitiveness with other countries and in educating its people to meet global business challenges (46%). Contributing to the United States’ poor showing were the heavy
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Forensic services
Eye on Franchising
Franchising is more popular than ever before. During the previous three years, nearly 900 new franchising concepts were launched, 500 of them in 2005 alone, according to a study by FRANdata of Arlington, Va. In fact, franchised businesses now account for nearly 10% of the nation’s private-sector economy and employ
Family Biz Proliferates
Small businesses run by an individual or a family with no other paid employees made up a large chunk of U.S. companies and are growing in number, according to a recent U.S. Census Bureau study. Such “nonemployer” businesses increased by more than 1 million between 2003 and 2004 to 19.5
Ways to Stay Client-Focused
Before you meet with a client, relax. Deep breathing or sitting still with eyes closed for 60 seconds is often effective. Be prepared for client meetings and have an objective. Then be flexible enough to drop all plans. The point is to be ready to meet reality, not to try
Information Security? Bank on It
onsumers trusted banks more than other institutions to protect their personal records, according to a July 2006 survey conducted by the American Bankers Association. In fact, a full 60% of respondents identified banks as the most trustworthy with their personal information. Government agencies came in a distant second, receiving just
A Very Long Audit
ALL IN A DAY’S WORK y sister, a nursing student at the time, had come to visit and arrived early enough to meet me at my client’s site. She came up to our audit room, met my fellow team members and sat at the partner’s desk, right next to mine.
On the Record
Although typically the major players have been making the headlines, defendants are coming from all types and sizes of businesses. … When it comes to corporate fraud, anyone can be a player. — Executive Roadmap to Fraud Prevention and Internal Control: Creating a Culture of Compliance by Martin T. Biegelman
Data Point
NUMEROLOGY 75 Percentage of working mothers that said their bosses were supportive of their family needs. Source: This Is How We Do It: The Working Mothers’ Manifesto by Carol Evans, Hudson Street Press, 2006.
Job-Hunt Tips
TOP 10 1 | Look for opportunities. Take on new assignments to broaden your skills. Put out feelers to see whether you’re marketable outside your company. On an interview, don’t passively expect to be told where you’ll fit in. Create a job for yourself. 2 | Become a skilled job
Tips for New Leaders
TOP 10 1 | Don’t get too close too quickly. It’s tempting to become one of the gang—a friend who happens to be the boss—but effective leaders have to manage the distance between themselves and their followers. 2 | Sharpen your situation-sensing antennae. Try to be sensitive to which way
Women Pull Up a Chair
SURVEY SAVVY W omen held 14.7% of all Fortune 500 board seats, up from 13.6% in 2003 and 9.6% in 1995, according to a 2005 census of women board directors by Catalyst ( www.catalyst.org ). The number of Fortune 500 companies that had 25% or more women board directors rose
Sallie Krawcheck Quote
AS QUOTED “As an analyst I was very comfortable being uncomfortable, and as a CFO I have to be comfortable being uncomfortable. I have to be fine with delivering bad news.” —Sallie Krawcheck, CFO, Citigroup
Bookmarks
Policies and Procedures to Prevent Fraud and Embezzlement: Guidance, Internal Controls, and Investigation By Edward J. McMillan 308 pages; softcover John Wiley & Sons Inc., Hoboken, N.J., 2006 Nearly every enterprise is a potential victim of fraud, and CPAs well-versed in the scope of fraudulent activities can help businesses prepare
Responsibility at the Top
NUMEROLOGY Source: “Salary Guide 2006 for Accounting and Financial Professionals,” Ajilon Finance and Business Finance magazine.
Litigation Breather
BUSINESS TRENDS Investors filed 45% fewer class-action lawsuits alleging securities fraud in the first half of 2006 compared with the same period in 2005, according to a report by Stanford Law School’s Securities Class Action Clearinghouse. The 61 filings marked the lowest number for any six-month period since the first
Buy Me Some Peanuts and Cracker Jack
SPOTLIGHT f the sun is shining outside, you’re likely to find Jack Oujo, CPA, on a baseball field. The former AAA minor league umpire just can’t get the game off his mind. In addition to running Jack Oujo CPA Inc. of Wall, N.J., Oujo coached his son Christopher’s Junior League
Tips for Starting a BV Practice
Business valuation is not an area of accounting to be entered into lightly. Statistics show there are many litigation claims against CPAs in the valuation area, mostly due to a misunderstanding of what services the CPA was to perform as part of the engagement and the CPA’s lack of formal
The Valuation Landscape
Business valuation is a relatively new discipline. Financial valuation—the process of determining the value of a financial asset or liability—belonged first to those on Wall Street who focused on trading securities; the concept of business valuation, or valuing private companies, arrived on Main Street about 25 years ago by entering
Fraud: Small Business Clients at Risk
Small businesses are the most vulnerable to occupational fraud and abuse and suffer disproportionately larger losses as a result, according to the 2004 “Report to the Nation on Occupational Fraud and Abuse” prepared by the Association of Certified Fraud Examiners. Compounding the problem, small businesses are less likely to have
The BV/FLS Environment
The following articles highlight the diverse issues facing practitioners in the business valuation and forensic & litigation services (BV/FLS) areas. The wide range of topics—fair value, collaborative process in divorce and valuation, electronic discovery and fraud—underscore the complexity of this rapidly growing practice area.
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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
