2014 News Archive
 

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GWSCPA News

SEC's Bowden: Ethical Standards More Important Than Policy, Procedures

Having an “ethical standard” is the most important part of an advisory firm’s compliance policy, Andrew Bowden, head of the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations, told compliance officers Tuesday....

SEC filed record number of enforcement actions in fiscal year 2014

With the help of new investigative approaches—and data and analytical tools—the SEC filed a record 755 enforcement actions totaling $4.16 billion in disgorgement and penalties in fiscal year 2014, the securities regulator announced Thursday. The...

FASB Issues Proposed Accounting Standards Update?Compensation?Retirement Benefits

The Financial Accounting Standards Board issued proposed accounting standards update-compensation-retirement benefits: practical expedient for the measurement date of an employer's defined benefit obligation and plan assets. Read more on FASB.org .

A Benefits Balancing Act

CFOs consider how to manage the financial risk of benefits while giving employees what they want — and need. Senior finance executives are increasingly treating employee benefits as an opportunity for competitive advantage, as they seek to...

SEC approves securities arbitration fraud intervention rule

The U.S. Securities and Exchange Commission has approved a rule that will let securities arbitrators immediately report frauds that may threaten the investing public if they learn about them in the middle of a case. The agency's approval,...

PTIN Renewal Season Open

The IRS announced that professional tax preparers can now register for or renew their PTINs on IRS.gov. Anyone who gets paid to prepare or assists in the preparation of a tax return is required to have a PTIN, including enrolled agents, CPAs and...

How to prepare for auditing in a digital world of Big Data

Rapid changes in technology are a reality of the current business environment. In addition to affecting how business is done, these changes present new challenges to auditors. The internet, cloud computing, and the pervasive use of mobile devices...

IRS Spent $33 Million to Store Paper Tax Records

The Internal Revenue Service paid approximately $33 million for paper tax records storage services in fiscal year 2013, and as of March 2014, and the agency had 5.42 million cubic feet of paper tax records stored at various Federal Records...

How to build a better partner compensation plan

Partner compensation plans have evolved significantly from the formula days of the finder, minder, and grinder. Today, more emphasis is placed on tying compensation to the firm’s strategic plan. Today’s compensation plans not only allocate...

New Revenue Recognition Standard: Build Your Implementation Plan Now

The Financial Accounting Standards Board’s new revenue recognition standard presents the most significant accounting change many veteran CPAs have seen. The standard touches every entity (public and private, including not-for-profit entities)...