$639 billion assets held by Lehman Brothers Holdings, Inc.(the
numbers)
$639 billion Assets held by Lehman Brothers Holdings, Inc. when it
filed for bankruptcy Sept. 15, making it the largest corporate
bankruptcy case in the U.S.
. . .
85% Number of nearly 900 international companies.(the
numbers)
85% Number of nearly 900 international companies surveyed that
reported at least one serious incident of fraud during the past three
years.
--Kroll Global Fraud . . .
77% Number of workers.(the numbers)
77% Number of workers who say having paid sick days is "very
important."
--National Opinion Research . . .
$19,000 The approximate amount of debt the average graduate
leaves college.(the numbers)
$19,000 The approximate amount of debt the average graduate leaves
college with.--Professional Education . . .
CalCPA leaders wanted.(news&trends)
California CPAs are the driving force behind one of the
world's largest economies. Isn't it time you put your
leadership skills to use for the betterment of the CPA profession?
[ILLUSTRATION . . .
TheFinancialPOV.(news&trends)
To discern the affects of the weakened economy on finance jobs, a
survey of 500 finance and accounting professionals revealed that:
* 65% of respondents think the U.S. is in a recession.
* 54% . . .
I am confident in the resilience of our capital
markets.(news&trends)
"I am confident in the resilience of our capital markets, and
in the commitment of U.S. regulators and market participants to work
together through this difficult period."
--Treasury Secretary . . .
Sales & use Tax Update: BOE goes hunting, impact of phone
excise tax and more.(california tax)(Board of Equalization)
Effective Jan. 1, 2007, a 40 percent penalty is added to the
California Sales and Use Tax Law. The tax applies to any retailer who
charges the tax and then fails to remit the funds on time to the . . .
CBA happenings; audit documentation, license requirements and
more fill plate.(government relations)(California Board of
Account
These CalCPA members have been elected officers of the California
Board of Accountancy for the coming year: David Swartz (president); Don
Driftmier (vice president); and Robert Petersen . . .
Appraisal adjustments: pension protection act: new language of
appraisal, valuation.(federal tax)
The Pension Protection Act signed into law Aug. 17, 2006, changes
the way appraisals are handled by the IRS--and forces practitioners to
rethink their procedures in a number of areas that deal with . . .
IRS talks: appeal Hearings, e-services, Package X and more fill
liaison meeting.(federal tax)
Cal CPA's Committee on Taxation had its annual audience with
the IRS during a Nov. 8 liaison meeting.
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In all, 61 questions were submitted to the IRS, dealing . . .
20 Years: 20 tips: CAMICO founding members offer risk management
best practices.(RISK MANAGEMENT)
After two decades of service with its CPA policyholders, CAMICO has
become a national repository of risk management knowledge for accounting
firms. Four of CAMICOs founding member firms have . . .
In conflict? take note of conflict of interest issues addressed
in circular 230.(PROFESSIONAL ISSUES)
Conflict of interest issues are always of paramount importance for
CPAs. Conflicts in tax practice, though, are somewhat different than
those that may arise during the performance of an attest . . .
Interstate mobility: if you think you're not holding out as
a CPA in another state, think again.(PRACTICE PRIVILEGE)
You may have seen recent articles on the impact of the California
Board of Accountancy's proposal on regulating interstate mobility,
the formation of an AICPA Special Committee on Interstate . . .
Find your way: from disaster preparedness to succession planning,
CalCPA resources and benefits for smaller CPA firms.(Cover
sto
Starting and operating a small CPA practice can be daunting, but
CalCPA offers tools that have been helping CPA make the journey with a
bit more confidence.
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"I would not . . .
Membermilestones.(News & Trends)
IN MEMORIAM
Robert C. Daney, a longtime active CalCPA member, died Nov. 4. He
was 57. Bob joined the CPA firm of Backstrom Neal and Company in San
Jose in 1981, becoming managing partner in 1986. . . .
Training time.(News & Trends)
training time: 70% of respondents to an online poll said they need
additional training on their company's records retention policies
and . . .
The article "line of
defense".(CLARIFICATIONS)(Correction notice)
The article "Line of Defense" (California CPA, November
2006) should have stated that an express delivery service lost a laptop
belonging to the AICPA containing the personal information of many . . .
GASB'S Comprehensive Implementation Guide.(GASB News)(Brief
article)
The Governmental Accounting Standards Board has published the
2006-07 edition of its Comprehensive Implementation Guide, which
consolidates and updates previously issued guides to . . .
Paulson: SOX enforcement needs to change, not law.(SOX
News)(Treasury Secretary Henry Paulson, Sarbanes-Oxley Act)(Brief
article
Treasury Secretary Henry Paulson said he doesn't see a need to
change the Sarbanes-Oxley Act, but changes are needed in the enforcement
of that law.
"We need to implement the law in ways that . . .
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