INDUSTRY NEWS
Product and service updates from leading vendors
and suppliers to the accounting profession.

November 20, 2009
U.S. House Panel Approves a Toned-Down Accounting Proposal
Proposal to allow a systemic risk council of regulators to offer advice about accounting rules that could pose problems to the broader marketplace.

Most Businesses May Take Advantage of Expanded Loss Carryback Option Under New IRS Procedure
Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued by the IRS.

CCH Updates Briefing on Tax Provisions of Health Care Reform Legislation
With the unveiling of health care reform bill, CCH has updated its Special Tax Briefing on the tax provisions of health care legislation.

November 19, 2009
IFAC Presses for Action to Adopt and Implement Global Financial Standards
The International Federation of Accountants' (IFAC) Council meeting emphasized the urgency of achieving global adoption and implementation of financial standards, especially for accounting and auditing.

Economic Recovery Imminent, But Companies Lack Ability to Lead, Recruit and Retain, Says Aon Consulting
Health and benefits costs serve as the greatest business risks.

Economic Pressures Drive Steep Increase in Business Fraud
According to PricewaterhouseCoopers' Global Economic Crime Survey 2009, nearly one in three organizations around the world reported they were the victims of economic crime during the past 12 months.

Live Webcast on Financial Reporting in Multiple Jurisdictions: What Should Multinationals Expect in 2010?
Speakers from International Accounting Standards Board, Tax Executives Institute, Big 4 and Thomson Reuters address major concerns -- free of charge with CPE credit.

XBRL US Labs Issues Call for Research Partners
Call for Research Partners to expand research and development projects already underway to develop taxonomies (digital dictionaries) for corporate actions, proxy and governance, and asset-backed securities.

November 18, 2009
Former SEC Chairs Warn Against Moving Oversight of Standards
Three former SEC chairmen warn about the risks of transferring accounting standards oversight to a systematic risk regulator.

New ONESOURCE Tax Provision and Return Integration That Works the Way You Do
Thomson Reuters introduces the first dynamic out-of-the-box provision and return integration functionality with one-to-many and many-to-one data transfer.

U.S. Financial Trade Tax Faces Uphill Battle
Proposed taxes on financial transactions face an uphill battle in the United States with powerful interests opposed and a lack of support among some key U.S. lawmakers.

Fujitsu and Trintech Partner to Extend XBRL Capabilities of Trintech Unity XFR Reporting Solution
Unity XFR Financial reporting software embeds Fujitsu Interstage® XWand® processing engine for advanced XBRL functionality.

U.S. House Panel Backs Financial Firm Break-Up Power
The U.S. House of Representatives Financial Services Committee voted to approve a proposal that would empower regulators to break up large financial firms that threaten economic stability.

November 17, 2009
SEC's Casey: Accounting Convergence Must Continue
SEC Commissioner Casey supports single set of high quality global rules; warns against overpoliticization of accounting.

President Obama Establishes Interagency Financial Fraud Enforcement Task Force
The task force's leadership will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.

Survey Says: Boost Productivity by Outsourcing Payroll
For higher productivity, small business owners should hire a payroll provider and not do it themselves, according to a survey of 2,078 accounting professionals conducted by Harris Interactive for Paychex, Inc.

Let's Hang On to What We've Got ...
Career expert offers 10 tips for staff retention in the New Year.

November 16, 2009
New 2009 Edition of “ERISA: The Law And The Code” Details Recent Amendments to ERISA and the Tax Code
Practitioners can turn to the 2009 Editionof ERISA: The Law and the Code, published by BNA Books, for updated text of the Employee Retirement Income Security Act (ERISA) and relevant portions of the Tax Code.

Economic Turmoil Brings Benefits Costs to the Forefront
Global economic and financial conditions have turned controlling benefits-related costs into a high priority at most companies, according to a recent report released by Prudential Financial, Inc.