Audit & Accounting

The economic crisis is forcing many states and cities to increase their sales tax rates to the highest average level ever, according to a new report.

Seventy-five percent of finance professionals support the movement toward a single set of high-quality global accounting standards, according to a new survey by Deloitte.

The Public Company Accounting Oversight Board has released a list of countries abroad where it intends to conduct inspections of auditing firms.

Two auditors from PricewaterhouseCoopers’ Indian member firm have been charged in the Satyam accounting scandal.

Canada’s Accounting Standards Board said that it has not yet made a decision on whether to change its fair value standards to match up with U.S. standards.

The International Federation of Accountants has endorsed a set of proposals made at last week’s G-20 Summit of world leaders that aim to reform the global financial regulatory system.

The Public Company Accounting Oversight Board has scheduled a series of forums around the country on auditing in the small business environment.

With the repeal of the federal estate tax set for 2010 and its reinstatement scheduled just one year later, estate tax planning has become more complicated than ever. Wealthy clients need to incorporate flexibility into their current plans while taking advantage of favorable planning opportunities.

As the economy continues its downturn and the financial pressure on business increases, the risk of fraud becomes higher than ever.To help your clients protect their businesses, suggest that they evaluate the current state of their anti-fraud program to minimize the duration and potential loss of fraud. When evaluating a current program, they should consider their preventative measures, not just their detective measures.

SCHENCK FORMS CRISIS TEAMAppleton, Wis. - Schenck Business Solutions has formed a Financial Crisis Response Team to guide and assist companies challenged by the current economy. The multi-disciplinary team is comprised of firm members with expertise in cash management, banking and financing, operations consulting, process improvement, inventory and receivables management, strategy development, and technology integration. The resources of the team are coordinated by shareholder Dan Koszalinski, CMA, CPA.