The Latest

I seldom veer off the subject of accounting in this space unless circumstances or events encourage me to do otherwise.

The Internal Revenue Service is looking for applicants for its Taxpayer Advocacy Panel, which provides a forum for citizens from each state to make suggestions regarding IRS decisions.

Two Pittsburgh financial advisors have merged their independent accounting, tax and investment advisory practices to form ATI Financial Services.The firm’s initials stand for accounting, taxes and investments, and are meant to reflect the core businesses of the new company, which will also provide comprehensive financial planning, insurance and other financial services.

The Certified Financial Planner Board of Standards Inc. has released a second exposure draft of proposed changes to its, “Standards of Professional Conduct.”

Representatives from the Public Company Accounting Oversight Board meet with its Japanese, Korean and Chinese counterparts last week, as well as accepting an invitation to become a member of the newly-formed International Forum of Independent Audit Regulators.Chairman Mark Olson and board member Charles Niemeier participated in a meeting of the forum in Tokyo, where they discussed ways to foster cooperation between regulators responsible for the oversight of public company auditors. They also met privately with the PCAOB’s counterpart in Japan, the Certified Public Accountants and Auditing Oversight Board and the Japanese Financial Services Agency.

The Securities and Exchange Commission censured the American Stock Exchange last week, along with the exchange’s former chairman and chief executive, for failing to enforce securities laws and maintain proper records.

A House subcommittee met yesterday to examine the impact of the alternative minimum tax on individual taxpayers, particularly middle-income taxpayers who were never intended to be subject to the tax.

Marcum & Kliegman LLP has launched a new Women’s Leadership Development Program with neighboring law firm Farrell Fritz PC.The program, which is open to employees of both firms but not open to the public –yet -- was developed to provide a supportive venue for female professionals to explore issues that affect them in the workplace and develop skills to enrich their careers, said Marcum manager of training and development, Nancy Chen.

Leon & Partners LLP announced that it will become part of neighboring Houston firm MiriFox & Rodriguez PC.

It has come to my attention that the advisor-client relationship may be sinking and that you need to do something about it.My friends at SEI, a leading global provider of outsourced asset management, investment processing, and investment operations solutions, has done us all a big favor with its latest survey of some 100 clients of the SEI Advisor Network because it reveals that 28 percent of advisors attribute client relationship failures to a lack of understanding. The result is that advisors need to communicate more clearly to avoid straining or losing clients.