Accountants

News & Analysis as of

While Some Parents May Not Agree to Pay the Cost of Their Child’s Law Degree, Maybe the Government Will?

Earlier this week, United States Tax Court Judge Richard T. Morrison ruled, in the case of Emmanuel A. Santos v. Commissioner, T.C. Memo 2016-100 (May 17, 2016), that the government will not pay the cost of a taxpayer...more

Minnesota Department of Revenue Publishes Revenue Notice Addressing Location of a Taxpayer’s Attorneys, Accountants, and Bank...

On February 1, 2016, the Minnesota Department of Revenue (the “Department”) issued Revenue Notice # 16-01 (available here), in which the Department explains how it will view the location of a taxpayer’s attorneys,...more

"Income at KPMG legal up 53 per cent"

That is the headline this morning from the Global Legal Post, a publication that compiles legal news from around the world. The context is the UK, where changes in legal regulations now permit nonlawyers to own and control...more

Just say sorry

I once referred work to an accountant for a retirement plan audit. He did a terrible job and there were issues regarding his ability to do the work. Making a lousy referral is even worse than doing poor work of your own...more

CPA-Client Privilege Doesn't Extend to Criminal Proceedings

It's Monday morning and your client, who recently retained you for estate tax planning advice, informs you that the IRS is auditing her income tax returns from the past three years. In reviewing her tax returns and financial...more

Case Summaries: Expired Appeals

Clark v. Institute of Chartered Accountants of Alberta (Complaints Inquiry Committee), 2015 ABCA 271, concluding that an appeal of disciplinary findings to the Court of Appeal should not be restored after it was deemed...more

Just when you thought it was safe to go back in the water…

The UK Government recently announced that it has shelved its plan to introduce a new corporate criminal offence for failing to prevent economic crime. However, corporates should still beware other potential criminal...more

Staffing Your Estate Plan

A good estate plan can significantly reduce taxes, streamline transfers of assets after your death, sidestep costly public probate proceedings and minimize family squabbles over inheritance. But if you don’t have the...more

Blog: Do Hiring Practices Lead To Earnings Management?

Yes, according to a study from academics at the University of South Carolina, reported by Reuters. The study showed that U.S. public companies tend to favor hiring accountants “who show a willingness to flatter corporate...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - States are Accommodating Crowdfunding Offerings While the SEC Continues to Ponder Crowdfunding Rules - The SEC first proposed rules in October 2013 for the crowdfunding exemption which was included in...more

2015 Florida Legislative Post-Session Report

Carlton Fields Jorden Burt’s Government Law and Consulting Practice Group released its 2015 Florida Legislative Post-Session Report detailing significant bills that passed during the 2015 Regular Session of the Florida...more

FASB Defers Effective Date of New Revenue Recognition Standard

Audit committees, CFOs and accountants everywhere are cheering as the FASB has deferred the effective date of its new revenue recognition standard. As a result, public business entities, certain not-for-profit entities, and...more

EBSA Releases Plan Audit Quality Report, Recommends Stricter Plan Audit Standards

The DOL’s Employee Benefits Security Administration (EBSA) released a report assessing the quality of audit work performed by certified public accountants with respect to financial statement audits of retirement and welfare...more

DOL Report on Quality of Independent Plan Audits Shows that Plan Sponsors Must Continually Monitor Plan Compliance

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently released “Assessing the Quality of Employee Benefit Plan Audits,” a comprehensive report reviewing the quality of audit work...more

[Event] The 2015 Accountant Liability Update, A Game of Risk: To Play or to Win? - June 25, Waltham, MA

LeClairRyan invites you to join us for a free half-day seminar The 2015 Accountant Liability Update, A Game of Risk: To Play or to Win? Predictability. Focus. Staying on Point. On a familiar playing field – you can make...more

The Financial Report - Volume 4, No. 10 • May 2015 (Global)

Discussion and Analysis - One of the earliest, and certainly one of the most famous, computers of all time is HAL 9000, the sentient computer that controls the systems of the Discovery One spacecraft and interacts with...more

Accountants Can be Either Inside or Outside Privilege Protection

Lawyers and accountants have always had an uneasy relationship, and that tension extends to the attorney-client privilege context. Accountants can either be inside or outside privilege protection. ...more

6th Circuit Holds that Accountants Conducting Financial Arbitration Can Also Make Legal Determinations

A new case from the Sixth Circuit addresses whether accountants who are resolving a dispute about payments made under an agreement can also make legal determinations about the same agreement. In a 2-1 decision, the Sixth...more

Illinois Supreme Court Holds Accountant is Holder of Privilege, No Testamentary Exception

Late in the March term, the Illinois Supreme Court handed down its opinion in Brunton v. Kruger, an opinion with potentially significant implications for Illinois accountants. Brunton posed three related questions about the...more

Illinois Supreme Court Holds Information Provided to a CPA Is Privileged Information Held by the Accountant Alone

In examining the issue of the accountant-client privilege for the first time, the Supreme Court of Illinois recently ruled that the privilege belongs to the accountant, not the client. In Brunton v. Kruger, 2015 IL 117663...more

FASB Eliminates Extraordinary Items Reporting

In January, the FASB adopted a final Accounting Standards Update that eliminates the requirement that preparers report events that meet the criteria for extraordinary classification separately in an income statement, net of...more

US China Trade War–Developments in Trade, Trade Politics, Patents/IP, Antitrust and Securites

On January 11thth, I put up my last post stating that because of its length, I have broken up the post into two parts. This February post includes a Trade, Customs and IP update with longer sections on Antitrust and...more

Homebuilder Series Webinar: Fiduciary Duties & Auditor Liability [Video]

Watch an in-depth Homebuilder Series webinar that discusses auditor liability and fiduciary duties. Two issues of recurring interest to company officers and directors are the potential liabilities of outside...more

‘Horizon scanning’: is a ‘Top-Level’ Firm Required to See Further?

This case involved allegations of professional negligence in the context of tax planning advice, and saw the application of reasonably familiar principles. Whilst these cases always depend on their facts, the decision may...more

Focus: PI Insurance – Conformity Certification – New Rules

Many undertakings operating in the professional indemnity insurance sector traditionally offer policies covering the civil liability of certified chartered accountants and bookkeepers arising from the issue of conformity...more

51 Results
|
View per page
Page: of 3
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×