WebCPA Staff

A federal district court in Nevada has granted the Securities and Exchange Commission’s motion for a summary judgment and entered a final judgment against another CPA who was accused of stock manipulation and accounting fraud at a company that operated adult Web sites.

The American Institute of CPAs told Internal Revenue Service officials that it supports the IRS’s plan for mandatory preparer tax identification numbers and stricter ethics requirements, but it objects to the education and testing elements of the IRS’s tax preparer regulation proposals.

The Securities and Exchange Commission named Richard Levine as associate general counsel for legal policy in the agency’s Office of the General Counsel.

The Internal Revenue Service is accepting applications for new members of the Internal Revenue Service Advisory Council, which provides a forum for IRS officials to discuss key areas of tax administration with a broad range of tax and other relevant professionals.

Sage North America has added a new accountant advocate team to augment the services of its existing Sage Accountants Network, focusing on working with and providing services and useful insight to accountants, bookkeepers and CPAs in the network.

Nearly one-third of public companies have no plans to use Extensible Business Reporting Language technology for their financial filings, despite an SEC mandate requiring XBRL use by 2011.

The American Institute of CPAs has created the SidneyKess Award for Excellence in Continuing Education, an award that recognizesCPAs who have made significant and outstanding contributions in the tax andfinancial planning areas.

Sage North America will offer Sage SalesLogix CRM Suiteto North American users via the Amazon Elastic Compute Cloud (Amazon EC2)infrastructure by June 2010, after which it will be expanded to other regionsworldwide.

While the vast majority of senior executives remainconcerned about the impact financial regulatory reform will have on theircompanies, half indicated a sweeping revamp could eventually be a "netpositive" according to survey from Big Four firm KPMG.

Private sector jobs increased by some 32,000, accordingto the monthly employment report compiled by payroll processor ADP and economicconsultancy Macroeconomic Advisors.

Global business consulting and internal audit firmProtiviti Inc. released a new version of its Governance Portal for InternalAudit, adding a synchronization management engine that allows auditors to workeven when they are disconnected from the network.

Xcentric, a technology consultingconcern for CPA firms has rebranded its Gray Matter hosting services offeringto Xcentric Cloud Network.

Two weeks after the Securities and Exchange Commissionleveled fraud charges against banking concern Goldman Sachs, the financialgiant is said to be mulling settlement talks with the regulator, according to Fox Business Network.

The International Federation of Accountants and ThePrince's Accounting for Sustainability Project have entered into a memorandumof understanding to support the role of global accounting in developingsustainable organizations.

The American Institute of CPAs and the FinancialAccounting Standards Board announced that the following have been named to thePrivate Company Financial Reporting Committee: George Beckwith, CPA, controllerof National Gypsum Co., in Charlotte, N.C.; Stephen Bodine, CPA, an audit andaccounting principal at LarsonAllen, LLP, in Minneapolis; and Steven D. Lords,CPA, CFO of Martin-Harris Construction in Las Vegas. The PCFRC is part of abroader initiative by the AICPA and FASB to improve the standard-settingprocess and the financial reporting needs of privately held enterprises.

States that pursue a course based on free enterpriseprinciples fare better economically than those who don't, according to a newstudy prepared by The Praxis Group for the U.S. Chamber of Commerce.

The Software and Information Industry Association - theprincipal trade association for the software and digital content industries --and cloud computing provider NetSuite are partnering to help educate softwarecompanies about new business models, expanding regulatory requirements, and thechallenging customer dynamics of the business software industry.

The Internal Revenue Service is requesting membershipnominations for the Information Reporting Program Advisory Committee, a panelthat provides recommendations to IRS leadership on a wide range of informationreporting and administration issues.

In addition to the recent case against Swiss bankingconcern UBS, the government will probe thousands of additional cases of U.S.citizens evading taxes through offshore bank accounts, a senior attorney forthe Justice Department said at a lecture here.

Lou Grumet, who served as executive director at the NewYork State Society of CPAs since 1998, has resigned citing health reasons.