Investigators posing as IRS computer help desk personnel were able to persuade 60% of Service employees they contacted to change their password to one the investigator suggested, a violation of IRS computer security rules. The findings by the Treasury Inspector General for Tax Administration (TIGTA) echoed those of a similar
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TOPICS
Information management and technology assurance
The Cost of Computer Crimes
Consumer Reports projects that U.S. consumers lost more than $7 billion to viruses, spyware and phishing schemes over the last two years. Source: Consumer Reports’ 2007 State of the Net survey, www.consumerreports.org/security.
Customize The Menus In Your Toolbar
» 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
Data Points: 33 and 25
33Percentage of U.S. private companies that expect to change hands in the next 10 years. 25Percentage of those businesses that expect to do so within the next two years. Source: Grant Thornton International Business Report , www.internationalbusinessreport.com .
Users Grade Tax Software
A record number of CPAs responded to our fourth annual professional tax software survey in which we invited AICPA members to disclose, among other things, what tax-preparation software they use and how they evaluated various aspects of their products. In past years, only members of the Tax Section were included
Gauging Security ROI
The InformationWeek /Accenture Global Information Security survey asked more than 1,100 business technology professionals, “How does your company measure the value of your security investments?” Fewer worker hours spent on security-related issues—43% Better protection of customer records—35% Decline in breaches—33% Decline in amount of network downtime—33% Improved protection of intellectual
Smart Stops on the Web
TAX BIG RESOURCES FOR SMALL BUSINESSES www.irs.gov/businesses/small Whether you own a small business or work for one, this IRS site sorts out tax-related information so you don’t have to. There’s an A–Z index that lets you search by business type or by subject. It lists the
Untying the Knot: Planning for a De-Merger
EXECUTIVE SUMMARY A merger process should include planning for a de-merger and establishing a sound agreement if a de-merger subsequently becomes necessary. De-merger agreements define how to treat specific issues if a de-merger has to take place. Items to consider addressing in a de-merger agreement include: Protecting
Is Your Software Illegal?
If it is, your business could face serious legal, financial and technological risks. According to the Business Software Alliance, small businesses paid more than $11.4 million in fines to settle software piracy claims in 2006, and they face the greatest risk for software piracy, not only due to their lack
Highlights
The SEC approved the PCAOB’s Auditing Standard no. 5, An Audit of Internal Control Over Financial Reporting That Is Integrated With An Audit of Financial Statements, clearing the way for the measure to replace Auditing Standard no. 2. The new standard is designed to increase the likelihood that
Best Practice: Continuation Plans
What would happen if you were unable to work for an extended period of time? Practice continuation plans are essential for CPAs. They ensure clients are taken care of and preserve the value of a practice, especially for small to medium-size firms, if an owner or sole practitioner falls ill.
Make Macros Available in All Excel Files
» 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
Compliance
A study by Lord & Benoit, a firm specializing in SOX compliance, identified what it described as the 10 leading material weaknesses among 148 companies with revenue of less than $100 million. Companies with effective internal controls were excluded from the study. Nearly two-thirds of the companies with material weaknesses
Ideas That Really Work to Recruit and Retain Staff
Does your firm have a consistent hiring message and formalized training program for new hires? CPA and consultant Steve Erickson developed 10 tips to help firms in achieving their hiring and retention goals. Increase focus and efforts. Make recruiting a year-round focus, engaging both partners and employees in the process.
Computer Forensics: An Essential Guide for Accountants, Lawyers, and Managers
by Michael Sheetz, J.D. John Wiley & Sons Inc., 2007, 152 pp. For novices and experts alike, Michael Sheetz traces the evolution of computer forensics from computer crime investigators, who focused on securing a system, into entities dedicated to the preservation and recovery of digital evidence for admissibility and use
Add Muscle to Excel
» 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
Accounting Best Practices (Fifth Edition)
by Steven M. Bragg, CPA John Wiley & Sons Inc., 2007, 490 pp. Steven M. Bragg is back with new and enhanced tips designed to improve the efficiency of business accounting departments. Bragg, a prolific author and former CFO and controller, has penned the fifth edition of his accounting best
Avoiding the Commitment Dip
Firms use thousands of dollars and work hours to make change initiatives a success—and then the bottom falls out. Or in this case, employee commitment to the change drops off, and all signs point to failure. Richard Lepsinger, a human resources consultant and co-author of Flexible Leadership: Creating Value by
CPA Executives Predict HR Headaches
Staff-related issues will account for four of the top five challenges facing organizations in upcoming months, according to a survey of more than 1,350 CPA decision makers. Ninety-five percent of respondents saw employee and benefit costs as a challenge of some type, with 25% classifying it as a major challenge.
Make Track Changes Or Comments Anonymous
» 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
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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.
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