SANDRA K. MILLER, JD, LLM, is a professor of business law and taxation at Widener University, Chester, Pa., and is an American Bar Association committee advisor to the National Conference of Commissioners on Uniform State Laws. JAMES J. TUCKER III, CPA, PhD, is an associate professor of accounting and taxation
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Information management and technology assurance
Second-CPA-Firm Update
EXECUTIVE SUMMARY SMALL FIRMS CAN HELP COMPANIES implement the Sarbanes-Oxley Act’s ongoing requirements, take on engagements the company auditor may no longer perform or pick up assignments that larger firms forgo because they are too involved in Sarbanes-Oxley-related engagements. SECOND-CPA-FIRM WORK IS VARIED: One firm is tailoring a new
Answer Please: Fraud-Based Interviewing
EXECUTIVE SUMMARY ONE WEAPON AUDITORS CAN USE AGAINST FRAUD is simply to speak to clients, managers and employees while observing their behaviors. Normal interview skills may be insufficient to determine whether an individual is withholding information, shading the truth or outright lying, so it’s wise to learn fraud-based interview skills
No Rest for the Weary
With the vast majority of U.S. workers planning to take time off this summer, the proliferation of cell phones, PDAs and laptops means most wont be able to leave their work behind for very long. A survey by Hudson, a professional staffing company, found that 23% of employees planned to
Wringing Out the Gray?
Source: Age Discrimination in the Job Market, a survey of 2,928 executives earning $100,000 a year or more, TheLadders.com , 2005.
Government Accounting
The Governmental Accounting Standards Board (GASB) added a volume to its User Guide series for nonaccountants. What Else You Should Know about a Government’s Finances: A Guide to Notes to the Financial Statements and Supporting Information explains how to assess a state or local government’s financial health and is available
Reporting in XBRL
Remarks made at the 11th XBRL International Conference, Boston, April 2005, on CPAs transforming business reporting. To assess XBRLs effectiveness as a data-tagging technology that can help public companies and investors and improve the SECs own efficiency, the commission established a program under which registrants can voluntarily submit SEC filings
Stay Out of Trouble
EXECUTIVE SUMMARY DEBATE HAS RAGED FOR YEARS i n financial and accounting circles over issues of independence, auditing and accounting standards, and corporate governance. In the event of an auditing malfeasance trial, a juror—unaware of this larger context—must arrive at a verdict based on what he or she learns about
Professional Issues
The profession’s image remains bright among business decision makers, executives and investors who gave CPAs favorable ratings of 97%, 95% and 89%, respectively, in a recent survey. Significantly, among business decision makers and executives, CPAs ranked several points higher than physicians, insurance agents, bankers, chief management consultants and stock research
Survey Savvy
Source: Principal Financial Well-Being Index, an online survey of 1,101 employees of small and midsize businesses, www.principal.com , 2005.
Book Marks
E2: Using the Power of Ethics and Etiquette in American Business By Phyllis Davis 264 pages; hardcover; Entrepreneur Media; 2003 This detailed primer on conducting business civillyin the office, out of the office and around the worldis a refresher course to benefit everyone. Good manners arent merely gracious; theyre shrewd.
Golden Business Ideas
Set Frequent Sales and Profit Goals EMost businesses set sales and profit goals when they prepare their annual budgets. But it makes better sense to have more frequent financial targets. Quarterly or monthly goals give managers an early warning system and more opportunities to revise their strategies sooner, rather than
Employee Benefits
The Treasury Department and IRS issued Notice 2005-42, which allows employers to modify flexible spending arrangements (FSAs) to extend the deadline for reimbursement of health and dependent care expenses up to 2.5 months after the end of the plan year ( www.treas.gov/press/releases/reports/n0542.pdf ). Previously, employees forfeited any FSA funds they
XBRL: Its Unstoppable
f you thought Lotus 1-2-3 revolutionized spreadsheets, get a good grip on your mouse because XBRL will do even more for financial reporting and analysis. Here’s the breakthrough: XBRL (extensible business reporting language), a new global open standard for formatting financial information, makes reporting and analysis faster, cheaper and significantly
A Maine Event
The election of Neria Douglass, an attorney with no accounting background, as Maines state auditor has some local residentsand especially Rep. Darren Hall, CPAup in arms. Im absolutely appalled she did not have the initials CPA after her name, Congressman Hall said in an impromptu but impassioned speech on the
AICPA Bestows Awards at Spring Council Meeting
Volunteer Service Kathryn A. Forbes, CPA, and Lewis, Hooper & Dick LLC partner Gary Schlappe, CPA, accept AICPA Public Service Awards from Doyle Z. Williams, chair of the AICPA Awards Committee, as AICPA Chair Robert L. Bunting looks on. The prize recognizes AICPA members who have made significant contributions to
You Said It
YOU SAID IT Home on the Range From a tax point of view, youre better off raising horses or cattle than children. Former Rep. Patricia R. Schroeder (DColo.) Youre Invited Have you always wanted to see your name in print? Do you have an amusing story to share? Were looking
Auditing
The Public Company Accounting Oversight Board (PCAOB) issued guidance in the form of questions and answers (Qs & As) for auditors ( www.pcaobus.org/standards/staff_questions_and_answers/index.asp ). They concern attest engagements relating to information that companies furnish under the SEC’s XBRL Voluntary Financial Reporting Program on the EDGAR system ( www.sec.gov/spotlight/xbrl.htm ). The
FYI
SEC Chairman William H. Donaldson resigned on June 30, 2005, more than two years after President George W. Bush appointed him to the post. At press time, the president had nominated Rep. Christopher Cox (R-Calif.) as Donaldson’s successor, subject to confirmation by the Senate. The AICPA governing council approved a
International
The International Accounting Standards Board (IASB) issued a single-volume edition of its official pronouncements made through January 1, 2005 ( www.iasb.org/uploaded_files/documents/ ). International Financial Reporting Standards (IFRSs) Bound Volume 2005 provides the complete consolidated text of the latest version of IFRSs (including international accounting standards and interpretations) and the supporting
Features
SPONSORED REPORT
Agentic accounting has arrived: What’s hype and what’s real?
Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.
From The Tax Adviser
August 31, 2026
2026 tax software survey
July 31, 2026
