Public Practice eNews
Terese West was pleased to provide loss prevention tips for certified public accountants in her column published in Public Practice eNews, a Minnesota Society of Certified Public Accountants bimonthly electronic newsletter with relevant and timely articles of interest to public practitioners.
Read Terese's articles:
- PCAOB Inspections and Enforcement (Dec. 16, 2016) – In early December, the Public Company Accounting Oversight Board (PCAOB) announced a settled disciplinary order, pursuant to which a global network accounting firm admitted to issuing materially false audit reports, altering work papers, and providing false testimony. Among other sanctions, the firm agreed to pay an $8 million civil penalty – the PCAOB's largest imposition of a civil penalty to date. More >
- Planning and Preparing for Tax Season (Oct. 21, 2016) – Recently, I stumbled across an article on the web entitled, "How to Sue a Tax Preparer for Malpractice."1 Although pithy, the article did a remarkable job of focusing its readers on exactly what matters in the complaint: that is, (1) identifying the applicable professional standards; (2) describing how the tax preparer deviated from those standards, particularly with respect to what one might expect the average tax preparer to do; (3) describing how the tax preparer's action or inaction relates directly to the taxpayer's damages; and (4) stating the amount of those damages. More >
- Ms. Bruno's Bad Decision: Spoliating Evidence is Never a Good Idea (August 19, 2016) – Michael and Lisa Bruno owned and operated Bruno's Market, a small chain of family-owned grocery stores located in and near Pittston, Pa. Now, although Bruno's Market is no more, a judicial determination that the Brunos engaged in the bad faith spoliation of evidence will live on for years to come. More >
- CPA Firms Affected by New FTC Investigations (June 16, 2016) – The Federal Trade Commission (FTC), in its law enforcement capacity, has commenced a nationwide effort to obtain information from CPA firms through nonpublic investigations for the purpose of determining compliance with the Standards for Safeguarding Customer Information Rule (Safeguards Rule). More >