Audit & Accounting

Microsoft has debuted a blog, Money Insider, focusing on the latest news about its Microsoft Money personal finance software and MSN Money site.

Mixing a fixed-income annuity into a retirement income account provides greater long-term wealth for investors than a portfolio of equity and bond investments alone, according to a study by MassMutual Financial Group.

The American Institute of CPAs has begun shipping its 2007 AICPA Audit and Accounting Guides, updated for the risk assessment standards issued by the Auditing Standards Board.

California wealth management firms Kochis Fitz and Quintile Wealth Management said they plan to merge, effective Jan. 1, 2008, with the combined firm to be known initially as Kochis Fitz/Quintile until a new name can be found.

Securities and Exchange Commission Chairman Christopher Cox met with securities regulators from Australia, Canada, China, Israel, Japan and South Korea to discuss the timeline for the implementation of interactive data for financial reporting.

Did you know that women provide the lion's share, up to 70 percent, of the $350 billion AARP estimate of the total value of uncompensated caregiving last year in the U.S.? Yep, according to the National Center on Women and Aging, a majority of those female caregivers are employed, but are often forced to reduce their hours or retire early due to their caregiving responsibilities, which can end up costing them each a staggering average of $659,130 in lost wages, savings, benefits, and pension over a lifetime. To help the estimated 40 million women who will retire over the next two decades to achieve increased financial viability, retirement security, and avoid the negative consequences so often related to care giving, LifeSecure Insurance Company and the Women's Institute for a Secure Retirement (WISER) have partnered on a consumer awareness and education initiative. LifeSecure's marketing efforts will include special communications targeting female consumers and creating awareness of the issues. In addition, consumers will be directed to the comprehensive library of useful financial planning, caregiving, and related information at WISER's online data center (see www.wiser.heinz.org/portal). "At LifeSecure, we are committed to helping women overcome the extreme financial and other dangers so often associated with informal caregiving,” says Lisa Wendt, president and CEO. “Having a complete understanding and easy access to accurate and relevant information are probably some of the best weapons women can have in dealing with these issues.” Jeffrey Lewis, chairman of WISER, notes of the partnership, "Over the years, we've found that many people--and most women--simply don't have enough information about building a secure retirement or dealing with negative financial impacts of informal caregiving. The solutions they need begin with understanding and education.” WISER works to increase awareness of the structural barriers that prevent women's adequate participation in the nation's retirement systems. Created in 1996 by Teresa Heinz Kerry, chairman of the Heinz Family Philanthropies, its goal is to improve the long term economic security of millions of American women and men. It is an independent 501(C) 3 organization. LifeSecure Insurance Company (www.yourlifesecure.com) offers a new generation of long-term care insurance coverage. The company is focused on providing understandable, affordable coverage, and high levels of customer service and support. The intention behind all this is to help women feel financially secure and knowledgeable enough about a critical financial issue such as the informal caregiving environment.

Two Southern accounting firms, Elliott Davis and Elliott & Warren, have decided to combine their operations and expand in the Charlotte, N.C., market.

Sarbanes-Oxley compliance has provided competitive advantages to companies such as Intel, Microsoft, Marathon Oil and WellPoint, according to a newly released study.

The Financial Accounting Standards Board has decided to defer the effective date for FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes," for nonpublic entities.

Sen. Chuck Grassley, R-Iowa, ranking member of the Senate Finance Committee, has sent letters to six media-based ministries asking for information about their expenses, executive compensation and the amenities lavished on their executives to see if they are violating their tax-exempt status.