Practice Management

Many board members and senior executives are still in the dark about the overall health of their organizations because they lack high-quality non-financial information.

Independent accounting firm Briggs & Veselka Co. has acquired a Houston neighbor, local CPA firm Pirsch & Mills LLP.

Business technology solutions provider Net@Work has acquired Apptech Inc., a Cheshire, Conn.-based consulting firm specializing in Sage Pro ERP sales and support.

As part of a new branding strategy, Thomson Tax & Accounting, said that it will formally adopt Thomson Tax & Accounting as its public name and use the Thomson Corp. starburst imprint as its primary logo.

Between January 2003 and June 2006, at least 490 Internal Revenue Service computers -- some containing sensitive data -- were lost or stolen, according to a new report from the Treasury Inspector General for Tax Administration.TIGTA said that the missing computers, and other data-sensitive equipment, were lost or stolen in 387 separate incidents. Worse, in more than 75 percent of the cases, IRS employees failed to notify the agency’s computer security office, which could have helped negate the risk to taxpayers.

A survey of chief executive compensation figures found that the median year-over-year percentage increase in pay was just short of 10 percent for 2006.

The Internal Revenue Service is requesting applicants for both its Information Reporting Program Advisory Committee and its Electronic Tax Administration Advisory Committee.

The May cover story for Practical Accountant focuses on how a number of firms are using formalized testing to determinate if a potential hire is right for a job. It also explores how testing is extending to other aspects of firms’ operations.

IFACnet, a search engine developed by the International Federation of Accountants and its members, has expanded its resources to address the needs of small and midsized accounting practices.

By now, tax practitioners know that e-filing is here to stay. Every year, changing mandates increase the number of businesses required to file their federal tax returns electronically, and the Internal Revenue Service offers more and better ways for tax pros to interact electronically with the service.Even if the e-file mandate hasn't affected your clientele, do yourself and your clients a big favor: Prepare for electronic filing early and take advantage of all of the electronic services now available from the Internal Revenue Service.