Auditing

The AICPA's Forensic and Valuation Services Executive Committee submitted a comment letter to The Appraisal Foundation on the second exposure draft of Valuation of Customer Related Assets on February 28. The exposure draft offers guidance for those that are preparing fair value measurements of customer-related assets.

Last year, Intuit created true harmony among its products and services, rolling out one look and feel that would make it easier for users to switch between products. The financial management solution provider has now extended that harmony to its QuickBooks Online Accountant solution. In February, Intuit debuted its enhanced QuickBooks Online for Accountants.

Building a successful business is about more than just finding a market with a need, motivation and savvy, it also requires efficiently managing company’s finances, sales, expenses and other costs. For many small business owners, however, this can become a chore.

A decade after scandals at Enron, Worldcom, and other companies dramatized the need for improved corporate financial monitoring, this critical regulatory challenge remains in essential ways unmet, new research suggests.

For small businesses, time is money, and a new survey shows that processing customer payments directly through their bookkeeping or ERP system can save up to five minutes per transaction. That can really add up.

Following earnings restatements, companies lose credibility with investors for 3 years, much longer than previously believed

A new online pension implementation toolkit was released today by the Governmental Accounting Standards Board (GASB). The toolkit is designed to help preparers, auditors, and users of state and local government financial reports understand and apply the revised pension accounting and financial reporting standards that the GASB approved in June 2012. The toolkit is available at no cost at the GASB website.

A tale of sexting, blackmail and embezzlement involving two couples in Ohio and West Virginia reached a head last week when one of the parties, a former Bethany College cashier, admitted to stealing $1 million from the school to keep an online affair secret from her husband.