The Daily

News and daily posts about CPAs, the accounting and financial industries, and more.

  • Survey: Company Health Plans Increasingly Emphasizing Prevention

    By:
    Chris Gaetano
    |
    Jul 2, 2015
    With the understanding that an ounce of prevention is worth a pound of cure, company health plans are seeing an increased shift towards preventative approaches in an effort to reduce overall spending among employees, according to a recent survey of 400 companies. 
  • Undercover DEA Agent Pleads Guilty to Theft of Bitcoins Connected to Silk Road

    By:
    Chris Gaetano
    |
    Jul 2, 2015
    Carl Force, an undercover Drug Enforcement Agency who took part in the investigation into online drug bazaar Silk Road, has pleaded guilty to charges of stealing hundreds of thousands of dollars worth of Bitcoins during the government's investigation of the now-defunct website, as well as selling information about the probe to its proprietor, the now-jailed Ross Ulbricht.
     
  • Employers Ramp Up Worker Reclassification in Face of Tax and Labor Law Pressure

    By:
    Chris Gaetano
    |
    Jul 1, 2015
    With increased attention on employees being misclassified as independent contractors, employers looking to circumvent payroll tax and labor laws are coming up with a wide variety of new ways to say that their workers aren't technically their workers. 
  • PCAOB Seeks Feedback on Engagement Partner Naming Form

    By:
    Chris Gaetano
    |
    Jul 1, 2015
    The Public Company Accounting Oversight Board has released a request for comment on a potential new form, PCAOB Form AP, that would make public the name of the audit engagement partner and information about certain other participants in the audit.
  • Academic Accounting Journal Withdraws 25 Articles Due to Suspected Misconduct

    By:
    Chris Gaetano
    |
    Jun 30, 2015
    The Accounting Review has withdrawn 25 articles published by now-former accounting professor James Hunton, who was once seen as a leading thinker in academic accounting, based on suspicions that he fabricated data on at least two papers. 
  • DOL Releases Proposed Change in Overtime Rules

    By:
    Chris Gaetano
    |
    Jun 30, 2015
    The Department of Labor released a draft proposal that, if implemented as is, would greatly expand who qualifies for overtime pay, a broad measure that is believed will affect nearly 5 million workers. 
  • Poll: 38 Percent of Millionaires Have No Estate Plan

    By:
    Chris Gaetano
    |
    Jun 29, 2015
    A recent survey conducted by CNBC has found that 38 percent of people with assets of $1 million or more have not used a financial expert to draw up a plan for what will be done with those assets when they pass away. 
  • "Leap Second" Scheduled for Tomorrow Could Snarl Networks, Disrupt Markets

    By:
    Chris Gaetano
    |
    Jun 29, 2015
    One second might not seem like a lot, but when it's a leap second it's enough to make anyone who relies on precisely-timed computer networks (so, most of the world) worry about impacts that could range from annoying to disastrous, making 8 p.m. tomorrow an especially interesting day. 
  • PCAOB to Release New Auditor Naming Proposal

    By:
    Chris Gaetano
    |
    Jun 26, 2015
    The Public Company Accounting Oversight Board (PCAOB) is set to release a new proposal around identifying the auditors who work on an engagement and the outside firms that assisted them in a way that, according to board chair James R. Doty, will assuage previously expressed concerns about the litigation exposure that could result from this move. 
  • SCOTUS Same-Sex Marriage Ruling Brings Financial Implications for Couples

    By:
    Chris Gaetano
    |
    Jun 26, 2015
    The Supreme Court of the United States legalized same-sex marriage nationwide today, a move that carries significant financial implications for same-sex couples across the country. 

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