Recruiting

The Illinois CPA Society recently released the results of its fifth annual “Accounting Women: 2007 Survey on the Role of Women in CPA Firms.”The survey found only slight shifts in hiring and retention patterns from the results of prior years -- again concluding that women are still underrepresented in key leadership positions.

While such issues as mobility, Sarbanes-Oxley 404, peer review and private company financial reporting continue to impact the accounting profession, keeping the CPA pipeline filled remains the profession’s No. 1 priority, American Institute of CPAs president and chief executive Barry Melancon told attendees at the institute’s spring meeting of its Governing Council.

Financial Executives Research Foundation, the research affiliate of Financial Executives International, released the results of its first annual executive compensation study at FEI’s 2007 Summit in Boston.

Although the 2008 presidential election remains 17 months away, attendees at the spring meeting of the American Institute of CPAs’ Governing Council were treated to a “trailer” of campaign issues as the former chairs of the Democratic and Republican National Committees stumped for their respective parties -- as well as aimed verbal darts at each party’s foibles.Former DNC chairman -- and current chairman of Sen. Hillary Clinton’s 2008 presidential campaign -- Terry McAuliffe told the audience that the Democrats didn’t so much win the 2006 midterm elections, as the Republicans lost it.

The trustees of London-based Reuters Group have given their consent to a $17.2 billion combination offer from electronic publisher Thomson Corp, based in Toronto.

On the heels of announcing its bid to combine with Reuters Group, Thomson Corp. said that its education unit’s assets will sell for $7.75 billion in cash.

Staffing provider AccountAbilities Inc. announced that it has entered into a letter of intent with Lexit Technologies Inc. for Accountabilities shareholders to receive approximately 98 percent of all common shares of Lexit, in exchange for the sale to Lexit of substantially all of the assets of AccountAbilities.

Like many of you who were once college freshman, I can vividly recall my first formalized session of “orientation,” those mandated get-togethers where a group of impressionable 17-and 18-year-olds receive a veritable laundry list from upperclassman and administrators of the do’s and don’ts in academe.

CCH, a Wolters Kluwer business, announced that its 2007 User Conference for tax and accounting professionals will be held Nov. 4-7 at the Gaylord Texan Resort & Convention Center.

On the heels of News Corp.’s bid for The Wall Street Journal, electronic publisher Thomson Corp. confirmed that it will offer $17.5 billion for the Reuters Group news service.

Among 47 industries, MBA candidates ranked accounting as the lowest-paying field in a recent survey.The average expected starting salary for MBAs working in auditing, accounting and taxation was about $64,000, according to the poll of 5,000 current MBA students. Five years after graduation, the MBA candidates expected accounting-related work to pay just over $111,000.

My generation has proven itself to be suckers for online social networks.

The Association for Accounting Marketing has released its 2006 Accounting Marketing/Sales Responsibility and Compensation Survey Results. The survey was very comprehensive, and shows an interesting snapshot of where many firms are with regard to marketing.

Effective immediately, newly credentialed New Jersey CPAs will have to attend an orientation program within six months of qualifying as a CPA.Thanks to a bill signed last week by acting New Jersey Gov. Richard Codey, the state Board of Accountancy will now get to work determining what exactly that program curriculum will include. Ralph Albert Thomas, executive director of the New Jersey Society of CPAs, which supported the bill, told a local newspaper that at minimum, the program will contain a course on New Jersey law and ethics.

The Accounting and Finance Employee Confidence Index, a measure of overall confidence among accounting and finance workers in the U.S., dropped 1.7 points, to 62.9, in the first quarter of 2007, according to a recent survey commissioned by Spherion Corp.

We hate to say how long we have been watching accounting standard-setting, but trust us, it has been a long time. Over those eons, we have been frustrated at the lack of attention granted to the interests of financial statement users and the perennial promotion of the interests of auditors and statement preparers. This imbalance simply does not work for the economy's good, because the capital markets are inefficient if users don't have ready access to the information they need for allocating capital to the right places at the right prices.

The Public Company Accounting Oversight Board concluded its first International Auditor Regulatory Institute last week.

Appointed to serve as the first executive director of the Center for Audit Quality, Cindy Fornelli is guiding the new organization in its mission to bolster confidence in the audit process, and to aid investors by promoting constructive suggestions for change.Still affiliated with the American Institute of CPAs, the center is the revamped version of the AICPA’s former Center for Public Company Audit Firms. The CAQ Governing Board consists of representatives from the AICPA, the major public company auditing firms and independent public members.

The New York State Society of CPAs will host the 28th Annual New York CPA Business & Technology Show & Conference on May 16 and 17 at the Hilton New York Hotel.

The Public Company Accounting Oversight Board is soliciting nominations and re-nominations for members of its Standing Advisory Group. Created in 2003, the 31-member SAG assists the audit firm overseer in carrying out its standards-setting responsibilities. The PCAOB is currently seeking nominations and re-nominations annually to fill 15 positions. Appointments are for two-year terms. Nomination forms are available on the PCAOB Web site, www.pcaobus.org. The deadline for submissions is June 15, 2007. Appointments will be announced by the end of October, and the new terms will begin in January 2008. The group, chaired by the PCAOB chief auditor and director of professional standards, Thomas Ray, meets roughly three times a year.