The Latest

RESTATEMENTS DECLINED IN 2007Sutton, Mass. — The number of financial restatements fell last year for the first time since 2001, according to a new report.

It’s often said that small business is the engine of the U.S. economy. If so, family businesses are of the high-performance, whisper-quiet, finely tuned kind, humming along at an impressive clip — even if there might be a few bumps ahead. But to stay on track and avoid breakdowns, family businesses would do well to schedule regular tune-ups with their financial professionals.That’s the snapshot of today’s family businesses that emerges from the 2007 Family Business Survey conducted by Massachusetts Mutual Life Insurance Co. in conjunction with the Family Firm Institute, and the Cox Family Enterprise Center at the Kennesaw State University Coles College of Business.

CFP BOARD REVISES ETHICSThe CFP Board of Standards has adopted a revised version of its Standards of Professional Conduct, which sets forth the ethical standards for CFP professionals.

Does most of your business result from Web sites? Or does most of it come from referrals? If it comes from referrals, as a lot of CPA firm business does, almost every potential client will still check out your Web site before giving you a call.Does yours grab and hold a visitor’s attention, making them want to read on? Studies show that you must win your visitor’s attention in less time than it takes to blink an eye, so dull, boring Web sites with extraneous information and poor graphics are a definite turn-off.

EPICOR TAPS NEW CEOEpicor Software has named Thomas Kelly as the company’s new president and chief executive, succeeding former CEO George Klaus, who will continue serving as executive chairman of the board.

Firm technology requirements have changed and will continue to change. The definition of IT has expanded and impacts everyone in your firm. Its size and the amount of IT knowledge that your chief executive or managing partner has dictate the type of technology leader that your firm needs to be successful.Yes, you read correctly — the CEO or managing partner’s understanding of technology and commitment directly impact success. The buzzwords today are “integration” and “innovation.” IT leaders must understand the firm’s vision, and firm leaders must understand how technology innovations can accelerate the achievement of that vision. Integration is a two-way street.

In a recent study of over 400 accounting firm compensation systems, I asked the following three questions:1. Do you believe that firmwide goals tied to owner compensation are a useful process for achieving higher levels of profitability in the firm?

Software, Hardware & servicesNOT YET, PART 1

MARCH31-April 2: Canadian Conference on IT Audit, Governance and Security, Canadian Institute of Chartered Accountants, Institute of Internal Auditors (Toronto Chapter), Information Systems Audit and Control Association (Toronto Chapter). Hilton Hotel, Toronto. Contact: www.cpd.cica.ca/itaudit.

GEORGIAHabif, Arogeti & Wynne LLP, Atlanta, has acquired Atlanta-based Miller Ray Houser & Stewart LLP.