Technical competence isn’t the most important thing in establishing a financial planning practice, according to U.S. Wealth Management’s John Napolitano.

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Accountants and other financial professionals need to stress ethics in the workplace to succeed in deterring financial fraud, according to James Ratley, president of the Association of Certified Fraud Examiners. Speaking at a conference Friday at Pace University sponsored by the New York chapters of the ACFE and the Institute of Internal Auditors, Ratley discussed […]

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During my 51 years as an accountant, attorney, corporate executive and college professor I have observed and experienced transactions and events that have influenced my leadership and management philosophy. Below is a litany of concepts, which taken as a whole embody my philosophy. My pride of authorship resides in the coordinated application of these concepts. […]

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In all the frenzy that goes into the June wedding season, the last thing and bride- or groomzilla is thinking about is their tax situation – but as Mark Luscombe, principal federal tax analyst at Wolters Kluwer Tax Accounting points out, there are a host of tax issues that kick in when you say, “I […]

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At a meeting on Thursday, the Public Company Accounting Oversight Board approved a new standard that will significantly change the auditor’s report. The new standard, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion, will, among other things, require auditors to include a discussion of “critical audit matters” […]

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Even if you’re not serving as their financial planner, you’ll still want to keep an eye on your clients’ future strategies.

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Deep trouble for Deepwater scam; $6K in false HSH income; and other highlights of recent tax cases. St. Petersburg, Fla.: Preparer Joseph Bassler, 61, has pleaded guilty to mail fraud and money laundering. According to the plea agreement, Bassler held himself out as a professional accountant who could assist companies affected by the Deepwater Horizon […]

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The Center for Audit Quality (CAQ) announced on Wednesday that they will award five grants this year to fund independent academic research on audit-related projects. The CAQ has now funded over $600,000 in academic research via 35 awards since starting the program nine years ago. The grant program focuses on topics ranging from critical policy […]

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The average American’s adjusted gross income rose in both 2014 and 2015, according to the IRS. In its Spring 2017 Statistics of Income Bulletin, the IRS released data on increased average AGI of taxpayers for tax year 2014 and preliminary data on returns for tax year 2015, as well as AGI information. The Statistics of […]

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The Internal Revenue Service’s Automated Non-Master File of taxpayer accounts is prone to errors and incorrect penalties, according to a new report. The ANMF is a database of taxpayer accounts that, due to system limitations, can’t be managed through the agency’s Master File. Manual processes are required to establish accounts and to process account activity, […]

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