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(Bloomberg) Moses Kgosana, who withdrew from taking the post as chairman of Alexander Forbes Group Holdings Ltd. in the wake of allegations related to his tenure as chief executive officer and senior partner at KPMG South Africa, said he offered to step aside from the position. “Public opinion was attracting unfair comment to Alexander Forbes […]
Expense management. It’s a necessary evil that can dishevel even the most seasoned road warrior in seconds with the misplacement of a critical travel receipt. For accounting professionals, it can spell countless hours of unproductive data entry, receipt chasing, and murky, outdated views of client spending records. “Every client of every accounting firm out there […]
HiAccounting has acquired the CPA firm WR Financial, effective June 30, 2017, expanding its presence in Hawaii. WR Financial, also known as WR Consulting, is based in Oahu and provides accounting, bookkeeping, financial consulting, and tax planning and preparation services to businesses and nonprofit clients. WR was founded in 2000 and had 251 clients last […]
IndiaFilings, a company based in India that provides an online business services platform, has launched a new goods and services tax (GST) accounting software. Dubbed Ledgers, the solution addresses the new GST regime in India that was launched July 1. The new tax system will affect overseas-based companies operating inside the country as well. The […]
Tax executives are worried about some of the risks to their companies from the Organization of Economic Cooperation and Development’s Base Erosion and Profit Shifting project and U.S. tax reform proposals. A recent survey by Ernst Young polled 901 tax and finance executives in 69 jurisdictions around the world and found considerable wariness about OECD […]
Just because you have years of experience in an activity and have made an occasional profit at it doesn’t mean you have a profit motive, according to the Tax Court. And without a profit motive, you don’t get to deduct losses from the activity. According to a recent Tax Court ruling in Stettner, T.C. Memo […]
In a somewhat surprising decision, a unanimous Supreme Court (with new Justice Neil Gorsuch not participating) overturned the consistent views of three circuit courts, the Third, Seventh and Ninth, and sided instead with the interpretation of three federal agencies, the Internal Revenue Service, the Department of Labor and the Pension Benefit Guaranty Corp., to hold […]
(Bloomberg) Moses Kgosana, who was due to take the role of Alexander Forbes Group Holdings Ltd. chairman at the end of August, withdrew from the position after allegations emerged related to his tenure as chief executive officer and senior partner at KPMG South Africa. KPMG South Africa failed to raise alarms when businesses controlled by […]
I have always tried to run my practice as the business that it was. As such, I used certain numbers or metrics to evaluate how I was doing. I did this when I started out and every step along the way as my practice grew. I always had numbers—when I was moonlighting I kept “score” […]
(Bloomberg) The U.K. Financial Reporting Council opened an investigation into PricewaterhouseCoopers LLP’s audits of BT Group Plc over three years following an accounting scandal in the carrier’s Italian unit that led to a writedown of 530 million pounds ($687 million). The review will cover fiscal years ending in March 2015 through 2017, the council said […]
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