The SEC has charged an advisor and his wholly-owned RIA firm with operating a nearly $5-million Ponzi scheme that defrauded scores of investors over almost a decade, according to the regulator’s complaint filed in federal court. To read the full article in Financial Planning, click: SEC Accuses Advisor of $5M Ponzi Scheme. ...

Like many members of the CPA profession, single audit practitioners will be managing a change process while maintaining an intense focus on quality. To read the full article in Journal of Accountancy, click: Strategies for Quality Work in Single Audits. ...

Technology This article provides a peek at one of the six-part healthcare installments and provides an overview of the due diligence imperative for valuation professionals, in the context of the Four Pillars of Healthcare Value, i.e., Reimbursement, Regulatory, Technology, and Competition. The second, third, and fourth installments, already published, reviewed the due diligence process related to the reimbu ...

Often the Link Between Damages and Causation Even with established liability, a plaintiff seeking damages must be able to calculate damages with reasonable certainty and demonstrate a causal link between the defendant’s acts and the plaintiff’s injury. The concept of causation is simple—did a defendant’s wrongful act cause the plaintiff’s damages? Proving causation, however, is not always as simple. Many ti ...

Writing on behalf of BIAC, Will Morris said that many MNEs that have centralized intra-group services centers expend significant sums supporting audits for intra-group payments. He said the goal for this project should be to create clear, simplified, rules and safe harbors, where possible. Existing guidance should be clarified, not expanded, he said. To read the full article in MNE Tax, click: OECD Publishe ...

One purpose of artificial intelligence (AI) is to capture, manage, and analyze amounts of data too large for less advanced technology to handle, and to produce insights faster and more accurately than people can. While AI promises to help businesses prepare better for potential opportunities and risks, the technology presents a challenge for management accountants in financial planning and analysis (FP& ...

Accounting services are rapidly becoming commoditized, and when clients don’t perceive a clear difference between service providers, they may choose the least expensive option. This is especially true for audit services, where clients—as well as auditors themselves—may see little difference between the work of competing firms. To read the full article in Journal of Accountancy, click: Add Value to Audits wi ...

Industry Experience and Value-Added Tips In this article, the author discusses how one may go about distinguishing his or her firm from other competitors. ...

Referral Marketing Strategy The author discusses how professionals should go about creating a customized referral marketing strategy. It begins by choosing a focus. Next, it involves the creation and posting of educational content that creates a clear connection between prospects’ challenges and your firm’s expertise. The key is creating the funnel content. The author describes the steps to create such funn ...

People planning to expatriate can do a number of things to avoid this result.  German citizen's failure to establish that he was a resident of Germany meant that he was a "covered expatriate" for Sec. 877A purposes and therefore liable for tax on stock sale gains that would otherwise have been exempt under the United States–Germany tax treaty. To read the full article in The Tax Advisor, click: Failure to A ...

Assertiveness can help improve your productivity and career opportunities.  No one can hear your idea if you're only thinking it.  Many people are content to stay in a comfortably passive nest in the workplace, rather than assert themselves.  But even reserved people have good reason to speak up, for both themselves and the companies they work for. To read the full article in the Journal of Accountancy, cli ...

“One of the greatest powers is to be able to take one person’s idea [and] another person’s idea and make [them] more powerful by bringing them together.” To read the full article in Heleo, click: Know Thyself, Know Thy Company: Microsoft’s CEO on Seeking Purpose at Work. ...

When Values Collide—Redux Valuing a business that owns real estate presents the business appraiser with a number of conundrums. In this article, the author discusses the concept of a fair investment return and how that may impact the value of the business being sold with the real estate. ...

Highlighting Recent Delaware Court Cases In this Case Law Update, three recent Delaware Court cases are reviewed. Two cases focus on whether the deal value is fair value and the third focuses on matters discovered following approval of a merger and who has standing to sue and what remedy, if any, is available to the disgruntled plaintiffs. The first two cases also delve into the role of experts, inputs that ...

On May 21, 2018, the Supreme Court issued its long-awaited decision in the consolidated cases Epic Systems Corp. v. Lewis, No. 16-285; Ernst & Young LLP v. Morris, No. 16-300; and NLRB v. Murphy Oil USA, No. 16-307.  In a 5–4 opinion by Justice Gorsuch, the Court held that courts must enforce arbitration agreements requiring employees to bring employment-related claims in individualized arbitration proc ...

In March, the federal government imposed a twenty-five percent tariff on imported steel and a ten percent tax on imported aluminum.  The resulting increased costs will likely be passed on to the construction industry.  General contractors typically increase their bid price to account for anticipated cost escalations.  For those projects already under contract, however, the pending increases pose a dire thre ...

Employment and salary prospects for accountants are healthy across the board, but professionals with up-to-date expertise in data collection and analysis are most in demand, say recruitment specialists. To read the full article in InTheBlack, click: The Accounting Skills Most in Demand. ...

Now How Do I Obtain Work? Earning a professional accreditation, such as the CVA is an accomplishment. Getting engagements thereafter is another matter. In this article, the author shares what he thinks newly minted CVAs may want to consider to develop their practice niche and brand. ...

Grow Your Practice and Presence So You Are Noticed If you want to grow your network of leads, prospects, clients, and referral sources, then LinkedIn is probably the best social media platform to jump into. Most of you are already playing in that sandbox anyway, and with a few tweaks, you can do better. Much better. ...

On May 21, 2018, President Trump signed into law a resolution disapproving the Consumer Financial Protection Bureau’s (CFPB) guidance on Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act.  In that Guidance, the CFPB expressed the view that certain indirect auto lenders—that is, lenders that coordinate with dealerships to provide auto loans to consumers—are subject to the Equal Credi ...