September 2008 - Journal of Accountancy

EXECUTIVE SUMMARY The Taxpayer Advocacy Panel (TAP) of the IRS is another way CPAs can serve their clients and all taxpayers, by listening to their concerns and recommending improvements to the Service. Some of the many measures the TAP has championed and seen adopted by the Service include the automatic

       Follow these 10 recommendations to integrate Statement on Standards for Valuation Services no. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset, into your business valuation practice. These guidelines are presented as optional suggestions to members to facilitate the adoption of the SSVS1 professional

     NEWS     For news from the AICPA and state societies, visit www.cpa2biz.com , which also offers online CPE, AICPA professional literature, practice management aids and links to state society Web sites. AUDITING A joint task force of the AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) Executive

EXECUTIVE SUMMARY Identity management addresses the difficulties encountered when one physical user has separate user IDs and passwords on multiple systems and applications. Access management addresses the challenges associated with the specific access rights and permissions of multiple user IDs. Large, complex organizations have the greatest potential to benefit from

Recent research confirms that while most executives agree that intellectual capital is critical to the future success of their businesses, their approaches to measuring and managing this performance enabler are either poor or nonexistent. This has provided the impetus for the AICPA, in conjunction with CMA Canada and CIMA, to

You’ve used a database to search your client’s data for a red flag that might indicate fraud. You imported the data into a database and created relationships between table fields. Then you carefully created a filter to search for red flags. Finding nothing, you conclude that there is no evidence

EXECUTIVE SUMMARY In recent years, focus has shifted to the increased value of intangible assets. As such, competition, sometimes unlawful, has resulted in extensive litigation and/or negotiation between parties for the use of intangibles. Methodologies to quantify a reasonable royalty are consistent with general valuation approaches–market (other licenses), income (profitability),

Ian Dingwall is the chief accountant of the Department of Labor’s Employee Benefits Security Administration (EBSA). Dingwall is EBSA’s primary adviser on accounting and auditing issues stemming from the agency’s responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA), the Federal Employee Retirement Security Act, and the Pension

EXECUTIVE SUMMARY Some of the listed transactions CPA tax practitioners are most likely to encounter are employee benefit insurance plans that the IRS has deemed abusive. Many of these plans have been sold by promoters in conjunction with life insurance companies. As long ago as 1984, with the addition of

           SSVS1 applies to any AICPA member who performs “an engagement to estimate value.” According to the statement, any member who performs such an engagement is called a valuation analyst . The statement applies to any engagement to estimate value when the valuation analyst (1) “applies