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I just received my quarterly report from Fidelity Investments which has a pretty good article by Nate Hardcastle on ways to avoid risk and the steps to help manage it. Fidelity has a superb research unit and its report, “Beyond Conventional Wisdom: New Strategies for Lifetime Income,” is quite important when you are advising retirees, especially about the area of risk management. Retirees, as you already know, pretty much draw from their various savings and retirement accounts a certain amount each year to meet their expenses, which, as you also know, keeps rising so that there is left a rather small amount in which to generate any income. Then, you have to add to that the increasing life expectancy so that many financial planners today when talking to a 65-year old aimed at retiring now spins life out for another 30 years.

The Senate's Subcommittee on Investigations held a hearing on how foreign investors dodge taxes on U.S. stock dividends with the help of U.S. banks and investment houses.

The American Institute of CPAs and its insurers Aon Insurance Services and CNA have added a network risk and privacy claim endorsement to every policy issued under the AICPA's professional liability insurance program.

A federal appeals court upheld a $182.9 million jury award that PricewaterhouseCoopers will have to pay to policyholders of a defunct insurance company audited by its predecessor Coopers & Lybrand.

RGL Forensic Accountants & Consultants has acquired Impact Forensics, a computer forensics and electronic discovery firm based in Chicago.

SpeedTax said its Web-based sales tax management service would soon be integrated with Intuit's QuickBooks Enterprise, Pro and Premier editions.

Accounting firms measure their success, not by what is billed, but by what's collected.

The International Accounting Standards Board and the Financial Accounting Standards Board have updated their 2006 memorandum of understanding and set a goal of completing their major joint projects on convergence of International Financial Reporting Standards with U.S. generally accepted accounting principles by 2011.

Rep. Charles Rangel, D-N.Y., refused to resign his chairmanship of the tax-writing House Ways and Means Committee after revelations that he failed to pay taxes on rental income from a vacation villa in the Dominican Islands.

Deloitte has taken over an anti-money laundering group and plans to expand its mission.