Accounting for changes Jun 20, 2008
-based leaves behind a legacy and ushers in a new era for the city's local accounting industry. For more than 20 years, the full-service accounting and consulting firm has been a well-polished brand name in the San Antonio business community. (San Antonio Business Journal, TX)
Investors are happy just to end Berkman's career Jun 15, 2008
The decision will send a clear signal to the accounting industry, said Hutchison. "The accountants now have the message that they have to be accountable to the public," he said. (OregonLive, OR -- Business)
JSE rule shift threatens small auditing firms Apr 23, 2008
Johannesburg - The JSE, which runs Africa's largest stock exchange, has been accused of shutting small audit firms out of listed companies and standing in the way of the transformation of the accounting industry. Victor Sekese, the chief executive of SizweNtsaluba, a top black-owned accounting firm, said the exchange's proposed new regulations for auditors of listed companies were effectively "a vote of no confidence" in the Independent Regulatory Board for Auditors (Irba), which was supposed to... (Business Report, South Africa)
Indian Treasurers' Currency Bets Are Going Sour Apr 1, 2008
Minority shareholders in Indian companies will be grateful if the government creates an independent, professional regulator for the accounting industry, an idea that has been discussed since the 2001 collapse of Enron Corp. and the creation of the Public Company Accounting Oversight Board in the U.S. under the Sarbanes- Oxley Act. Mecklai Financial did a survey in December 2007 of Indian corporate treasuries and their currency-risk management practices. (Bloomberg -- Columnists)
Reporting deadlines tight Mar 28, 2008
Grant Thornton's national head of audits, Matt Adam-Smith, said the survey results, which came from the finance officers and accounting departments of 300 listed companies, showed that continuing problems in the accounting industry were affecting accounting standards. "Ensuring there is enough time for proper process would certainly help to ensure the highest-quality accounts are prepared in Australia," he said. (Sydney Morning Herald -- Business)
My Turn: Darryl Neier Mar 25, 2008
It was that case that really opened my eyes more towards the accounting industry and the fact that there were people who were doing this on the private side. I received a call, it was a holiday weekend, the phone rang at 4 o'clock in the afternoon. (NJ.com -- Times)
Steve Forbes:U.S. should stop the dollar's free fall Mar 18, 2008
Two is stopping the panic by telling banks and lenders and the accounting industry and the regulatory authorities don't take write-downs on subprimes and some of these other exotic instruments until you actually know what the losses are. In other words, if somebody defaults on a mortgage, you write the mortgage down. (DeKalb Daily Chronicle, IL)
Steve Forbes Says Stop the Dollar's Fall Mar 18, 2008
Two is stopping the panic by telling banks and lenders and the accounting industry and the regulatory authorities dont take write-downs on subprimes and some of these other exotic instruments until you actually know what the losses are ... Two is stopping the panic by telling banks and lenders and the accounting industry and the regulatory authorities dont take write-downs on subprimes and some of these other exotic instruments until you actually know what the losses are. (Townhall.com)
Accounting powerhouse Feb 29, 2008
Cherry Bekaert & Holland LLP, the sixth largest accounting firm in the Southeast, has acquired Tampa-based Aidman Piser and Co. in one of the most significant deals ever in the Bay area accounting industry. Financial details are a closely guarded secret. (Tampa Bay Business Journal, FL)
Intangibles and IFRS3: seen but not heard? Feb 8, 2008
Intangibles and IFRS3: seen but not heard. Intangibles must change to regain credibility, says Thayne Forbes, joint managing director of Intangible Business, the brand valuation consultancy. (Accounting Web, UK)
Accounting firms have much to offer Jan 7, 2008
The terms are a reality in the accounting industry, where new graduates like Conant are a commodity for firms trying to keep up with increasing demand for services. After a six-month process that involved about 10 job possibilities in two cities, Conant accepted the offer from Freed Maxick & Battaglia CPAs PC in Buffalo. (Buffalo Business First, NY)
Better tax incentives needed to increase business R&D, survey says Nov 30, 2007
In making its submission, the accounting industry organization noted that Canada's recent record on productivity growth is "troubling news" for Canadian competitiveness and our quality of life. It cited reports showing that since 2000, the gap between Canada's labour productivity and that of the United States has widened to 26 per cent from from 17 per cent, meaning the output of workers in Canada is now only 74 per cent of their U.S. competitors - the widest gap since the 1950s. (Vancouver Sun)
Moving to international accounting standards Nov 26, 2007
In recognition of the global economy, the country's accounting industry is working toward adopting the international practices that are used in almost 100 countries. The development of a common set of accounting standards for both domestic and international use would provide "credible, comparable, conceptually sound and usable financial information" across all markets, according to proponents. (Buffalo Business First, NY)
Accounting industry eyes switch to global standards Oct 29, 2007
Now, the accounting industry is looking to change all of that. The regulatory board in the U.S., the , is working with the to create similar standards in this country. (Baltimore Business Journal, MD)
Baby Please Don't Go Oct 24, 2007
Turnover is down to 15% now, average for the accounting industry. Deloitte spends roughly $2 million a year on the career-coaching program. (Forbes)
Paulson Stakes His Legacy on Subprime Bailout Oct 22, 2007
He has taken a series of steps to revise the U.S. regulatory system, most recently convening a 21-person panel that includes former Federal Reserve Chairman Paul Volcker and former Securities and Exchange Commission Chairman Arthur Levitt to scrutinize the accounting industry. Levitt is a board member of Bloomberg LP, parent of Bloomberg News. (Bloomberg -- Columnists)
TAKING ACCOUNT OF THE SIV MESS Oct 16, 2007
October 16, 2007 -- A little-noticed release fr 00004000 om an accounting industry think tank helped set the wheels in motion for three major banks to join forces and attempt to minimize the damage from the continuing mortgage-fueled credit crisis ... But an Oct. 3 report from the Center for Audit Quality, an accounting industry-financed think tank, likely forced negotiations to accelerate. (New York Post -- Business)
SMART Business Advisory and Consulting Names New Executive Managing Director Oct 10, 2007
"SMART's current organizational structure enables us to deliver our services and solutions in a manner unprecedented in the accounting and consulting industry -- solving the clients' near-term need with a keen eye on ensuring long-term impact on the bottom-line," added Joe James, COO of SMART. "In the years post Sarbanes Oxley, a new model has emerged which bridges the gap between practices often seen in the old Accounting industry partnership model. This strong focus, directed at systemic... (PR Newswire)
Arapahoe to Acquire First West Petroleum-Corporate Update and Executive Appointments Sep 25, 2007
He has over 15 years experience in the finance and accounting industry, including in the oil and gas sector. Correction Notice. (CCNMatthews Press Releases)
Print Edition Sep 21, 2007
Changes in Birmingham's accounting industry. Enterprise. (Birmingham Business Journal, AL)
US accountants charged in probe Sep 15, 2007
Sarbanes-Oxley replaced self-regulation in the accounting industry. Now firms are required to register with the accounting oversight board. (BBC News -- Americas)
SEC charges 69 auditing firms, partners with violating Sarbanes-Oxley registration requirement Sep 14, 2007
WASHINGTON Federal regulators on Thursday charged 69 accounting firms and partners with violating a landmark 2002 antifraud law by auditing public companies without registering with the board that supervises the accounting industry ... Congress created the board, with subpoena power and the authority to discipline accountants, in the Sarbanes-Oxley law to replace the accounting industry's own regulators. (San Diego Union-Tribune -- Business)
Showbiz Software Used for Over 40 Percent of Emmy Nominated Shows Sep 12, 2007
Otter Huntley, Vice President of Business Development at Media Services, Inc., who was instrumental in the design and development of this innovative product, says, "Showbiz Time Cards and other Showbiz Software products have become widely popular through word of mouth in the entertainment accounting industry. Listening to our payroll and accounting clients, we wanted to fill a much-needed niche by developing a tool that instantly calculates and tracks everything from episodic crews, multiple... (Yahoo! Wire -- Entertainment News)
Ordered to pay $520M, BDO Seidman faces uncertainty Aug 28, 2007
Accounting industry insiders say might have to sell some offices and could be in danger of losing both partners and clients to rival firms after being ordered to pay $520 million in damages by a Miami jury last week. Consultants said the firm's liability insurance and partners' equity might not be enough to foot the bill. (Philadelphia Business Journal, PA)
Higher pay, better life abroad Aug 27, 2007
The accounting industry is already feeling the pinch as several countries are luring Malaysian accountants with salary offers of four times their earnings here. Malaysian Institute of Accountants (MIA) Penang branch chairman Adelena Lestari Chong said the industry faces the big challenge to retain these accountants. (The Star Online, Malaysia -- News)
Paying $521 million judgment could splinter BDO Seidman Aug 20, 2007
To pay about $520 million in damages ordered by a Miami jury, might have to sell some offices to partners, accounting industry analyst Art Bowman said. That's because its liability insurance and partners' equity might not be enough. (South Florida Business Journal, FL)
Concerted efforts to revamp GLCs Aug 20, 2007
Azmil is known for his professionalism and skills in the accounting industry. He was the man entrusted to manage MAS coffers when the company was running low on funds. (The Star Online, Malaysia -- Business)
Edgar Online names new CEO, chairman Aug 3, 2007
XBRL uses data based on standardized accounting industry definitions to describe financial information for public and private companies and other organizations, according to Webopedia. com, an online encyclopedia of computer technology. (Greenwich Time)
Accountants reach out for more help Jul 31, 2007
July 31, 2007, 7:12 AM EDT The accounting industry is facing at least two big changes right now: More women are entering the field, and firms cannot find enough accountants. An estimated 70 percent of the people entering the accounting field today are women, says, Robert Micera, the director of human resources at Margolin, Winer in Garden City. (Newsday -- Business)
Sarbanes-Oxley law has been a pretty clean sweep Jul 30, 2007
"It's a terrific piece of legislation," says Chuck Bowsher, former U.S. controller general and a longtime accounting industry watchdog. "It's worked very well.". (USA Today -- Money)
Accounting executives discuss industry changes Jul 28, 2007
For better or worse, 2002 has been a busy year for the accounting industry. And executives with the largest Louisville accounting firms said they expect 2003 to be a year of even more change. (Louisville Business First, KY)
Accounting firms feel impact of Sarbanes-Oxley legislation Jul 20, 2007
The good news for the industry is that recent polls are showing that the public perception of the accounting industry is improving. Jonathan Hamilton, who monitors the accounting industry nationwide as the editor for the trade journal, Public Accounting Report, quoted recent polls that people still know and trust their own accountants, despite the negative publicity of scandals such as Enron. (Pittsburgh Business Times, PA)
Breeding a cooler kind of bean-counter Jul 20, 2007
The accounting industry also is working to boost the nation's financial knowledge, spearheaded by its 360 Degrees of Financial Literacy program, which includes free educational materials, calculators and more to help Americans make wiser money moves. Areas of concern include high credit-card debts and a lack of savings for millions of Americans, said Jimmy L. Williamson, AICPA chairman. (AZCentral -- Business)
Business notebook Jun 19, 2007
No effect: Deloitte & Touche LLP performed additional audit work for six public company clients after accounting industry inspectors raised concerns about its work, but the company said the extra effort didn't change its conclusions on the firms' finances. Shoe sale: Shola Olafajo stocks shoes in a in Cambridge. (Boston Globe)
SEC Chief Cox, Seeking to Build Consensus, Draws Fire From Constituents Jun 18, 2007
Last month, he said he would form a committee led by former SEC Chairman Arthur Levitt and former SEC Chief Accountant Donald Nicolaisen to study the accounting industry. Cox, who served in Congress for 17 years representing California, also is facing critics from the states, including the attorneys general from Ohio and Utah. (Bloomberg -- US)
Continuous Representation Doctrine Rejected for Discrete Audits Jun 8, 2007
New York high court ruling was anxiously awaited by accounting industry ... The decision in , 64, had been anxiously awaited in the accounting industry since the Appellate Division, 1st Department, ruled last year that PricewaterhouseCoopers had a continuous relationship with two failed hedge funds it audited annually ... Richard I. Miller, general counsel of the 430,000-member American Institute of Certified Public Accountants, said Thursday the court "would have created an injustice" for the... (Law.com)
Companies rehiring retirees Jun 7, 2007
Attracting retired employees back to the work force is one strategy Jefferson Wells, a professional services firm with offices Downtown, is using to deal with a talent crunch in the accounting industry. By doing so, they are tapping a growing market. (Pittsburgh Business Times, PA)
SEC's Cox Sparks Investor Alarms, Favoring Companies, Curbing Enforcement May 25, 2007
Paulson last week appointed a committee to study consolidation in the accounting industry, and Robert Steel, one of his deputies, said this week Treasury will review the relationship between regulators and businesses. When you have a regulator in charge of a particular domain and there's another player that seeks to take some role on their turf, it's a concern,'' said Marc Steinberg, a former SEC enforcement attorney who teaches at Southern Methodist University in Dallas. (Bloomberg)
Six data governance steps every company must take today May 23, 2007
This will change, but the accounting industry still does not know how to quantify the value of data. How to do this is one of the things we are looking at in the council. (Banktech)
Markets regulator under pressure on all fronts May 19, 2007
Officials from the SEC and the accounting industry oversight board will host public meetings next week to unveil changes to a rule mandating that companies assess their anti-fraud controls. Business protests have led regulators to draft new language they say should reduce costs. (Sydney Morning Herald -- Business)
Britton & Koontz Capital Revises Effect of SFAS 159, Lowers First Quarter Earnings May 16, 2007
This revision in the application of SFAS 159 to the Company's financial statements for the first quarter of 2007 is a result of interpretations by the SEC and further analysis by the accounting industry of SFAS 159 since April 12, 2007, the date on which the Company announced early adoption of SFAS 159. On April 24, 2007, the Company announced net income and earnings per share for the quarter ended March 31, 2007, of $835 thousand, or. (PR Newswire)
Canadian Grant Thornton, BDO units discuss merger Apr 16, 2007
NEW YORK, April 13 (Reuters) - Grant Thornton LLP and BDO Dunwoody LLP, Canada's No. 5 and No. 6 accounting firms, said on Friday they have agreed to discuss a merger as they seek to become more competitive with the top four firms (Reuters)
Op-Ed / Jerry Jackson: In response, Re: unions Apr 10, 2007
(Jerry Jackson of Heber Springs spent 30 years in the public accounting industry. His conservative viewpoint column appears each Wednesday). (Heber Springs Sun-Times, AR)
IBM’s preferred hub Apr 9, 2007
We expect it to create high-value job opportunities for Malaysia's highly-skilled workforce, leveraging key intellectual capital in the finance and accounting industry, he said. He added that the centre would also spur the growth of the country's shared services sector. (The Star Online, Malaysia -- Business)
SEC vote backs shift in auditing guidelines Apr 5, 2007
The vote by the five SEC commissioners was unanimous for building more leeway into the rules, especially rules for auditors being written by the independent board that oversees the accounting industry. Commissioners debated the changes, proposed by the SEC staff, at a public meeting that showcased differences over a crucial part of the Sarbanes-Oxley law. (Sunspot.net -- Business)
Business Briefs Apr 3, 2007
In recent months, the SEC and the independent board that supervises the accounting industry have taken differing approaches toward the key part of the Sarbanes-Oxley law that arose from the 2002 corporate scandals: the requirement for companies to assess the strength of their internal financial controls and to fix any problems. SEC Chairman Christopher Cox urged, in a letter to the Public Company Accounting Oversight Board last fall, that it revise its rules for outside accountants under the... (Fresno Bee -- Business)
Shakers: Nasdaq names Oxley as a vice chairman Mar 17, 2007
Sarbanes-Oxley also created a new agency to regulate the accounting industry. Senator Paul Sarbanes, the Maryland Democrat and other co-author, also chose not to seek re-election last year. (International Herald Tribune -- Business Asia)
another VIEW Mar 14, 2007
They follow all standards and procedures outlined by the accounting industry as well as recommendations from the LGC. A copy of our audit report is provided to the county every year and made available to the public upon request. You may also view our audit online at www. (Washington Daily News, NC)
Auditors seek liability shield Mar 12, 2007
WASHINGTON -- The future of the accounting industry may depend on the answer to a single question: With only four major firms left in the business, are there too few to let any fail. Five years after the indictment and collapse of accounting giant Arthur Andersen, the government remains skittish about how much to punish audit firms for misdeeds. (Albany Times Union)
Returning workers face pension issues Mar 4, 2007
Financial institutions and the accounting industry seem to be leading the alumni drive. At Ernst , for example, workers who leave for less than a year receive credit in their retirement-plan vesting schedule for the time they were elsewhere. (Chicago Tribune)
Spotlight: Michael Oxley Mar 2, 2007
"I think at the end of the day virtually anyone would agree it was a terrible decision, because you eliminated a major accounting firm," he added, "and you just sent a chill through the accounting industry." ... The board gave the accounting industry "almost carte blanche to do almost everything they wanted to do, which turned out to be far more expensive than anticipated," Oxley said. (International Herald Tribune -- Business)
PICPA Urges Consumers to Do Research Before Choosing a Tax Preparer Feb 20, 2007
Pennsylvania Institute of Certified Public Accountants (PICPA) logo. (PRNewsFoto/PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS) PHILADELPHIA, PA UNITED STATES 10/18/2006. (PR Newswire)
Securities and Exchange Commission moves to ease post-Enron regulations Feb 13, 2007
Critics said the moves signaled a major retrenchment from the post-Enron reforms and showed that a lobbying push by big companies, Wall Street firms and the accounting industry to roll back what they see as onerous regulation and excessive investor litigation was gaining traction. But Christopher Cox, the chairman of the commission, said in an interview Monday that both efforts were in the best interests of investors because they were aimed at preventing the accounting industry from further... (International Herald Tribune -- Business)
School Board Outlook: Candidates Answer Questions Feb 13, 2007
In addition, I have over 15 years of experience as a professional in the accounting industry. Not only will my knowledge of accounting practices be an asset to the board, but my ability to interact and communicate with parents, teachers and administrators in a professional manner makes me an excellent candidate for this position. (County-Wide News, Inc., OK)
SOX creates more work, growing staffs at firms Jan 29, 2007
It's been five years since Congress passed the sweeping Sarbanes-Oxley legislation that reformed several areas of public accounting, but the ripple effects from the regulations continue to have a major impact in the accounting industry. Several local accounting firms say that, five years later, the SOX legislation has created new business avenues for smaller and mid-sized CPA firms and has also created a "bidding war" for the best talent breaking into the field. (Birmingham Business Journal, AL)
Accounting industry competing for talent Jan 2, 2007
Members: Not Registered. for free extra services. (Buffalo Business First, NY)
