Internal Controls and the ISA Program

U.S. Customs Bureau Offers Benefits for Demonstrated Compliance

By Frank Chioccola and Carolyn Muhlstein

MARCH 2005 - Strong internal controls can limit a company’s risk exposure and provide many competitive benefits. The need for strong internal controls is not limited to financial areas. Significant benefits are available to U.S. importers that implement compliance controls in the customs area. Full Story


Essentials
Publisher's Column
Perspectives

Taxes and Bond Returns

The tax laws governing the returns from holding bonds are complex and change frequently. The law distinguishes between the two components of return: interest income and capital gain or loss. Capital gains or losses are further classified as short term (bonds owned for one year or less) or long term. Short-term gain is taxed at the marginal tax rate on ordinary income, currently as high as 35%. Full Story

‘Encouragement of a Great Example’: CPAs on Boards

Alexis de Tocqueville, the 18th century politician and social philosopher best known for his book Democracy in America, wrote “Americans … have voluntary associations of a thousand kinds: religious, moral, serious, futile, general or restricted, enormous or diminutive. … If it is proposed to inculcate some truth or to foster some feeling by the encouragement of a great example, they found a society". Full Story

Don’t Shrink from the Challenge; Stand Up and Do What’s Right

The accounting profession is facing great challenges. Federal and state regulatory bodies, investors, public interest groups such as Ralph Nader’s Association for Integrity in Accounting, and the public at large are demanding professional independence and accountability. Many view the accounting profession as the culprit in precipitating the recent bull market. Full Story



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