Eugene D. O’Kelly led firm after IRS tax-shelter probes
O’Kelly died Saturday at his New York home, KPMG said in a statement. He resigned his executive roles at KPMG in June after disclosing that he was diagnosed with advanced-stage cancer, but remained a senior partner. He was succeeded by CEO Timothy Flynn. O’Kelly led KPMG from 2002 to 2005 and is credited with changing the company’s culture and governance after a government probe into tax shelters. KPMG last month agreed to pay a $456 million fine to settle the tax case.
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But what’s it take for CPAs to succeed today?
by Rick Telberg
At Large
According to the latest national survey by the American Institute of CPAs, a slight increase in the number of accounting graduates is alleviating a severe shortage of professionals in this over-worked field.
More professionals in the field might mean more competition for jobs and salaries, but let’s face it: What the profession really needs is more hands on deck.
[What's it take to succeed today? Join the study and find out.]
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Financial Sector Expected to Experience Greatest Growth
The hiring of full-time accounting and finance professionals is expected to increase slightly in the fourth quarter, according to the Robert Half International Financial Hiring Index. Seven percent of chief financial officers polled expect to add staff and 3 percent anticipate personnel reductions; 89 percent of executives forecast no changes. The net 4 percent increase is up one point from the third-quarter projection. READ MORE →
One in five businesses suffer break-ins, breakdowns, or rip-offs
By Rick Telberg
Special for HP
September 2005
Businesses’ information technology systems are more vulnerable to crippling security break-ins from the Internet than many business owners or even IT professionals would suspect. Twenty percent of commercial and nonprofit enterprises have suffered some kind of system failure caused by attacks from outsiders on the Internet and more than half of those attacked expect to be victimized again, according to fresh data from Quocirca Ltd., United Kingdom-based international analysts of IT and communications systems.
It’s not just Spyware, worms or viruses. The types of software agents causing devastating IT breakdowns are changing shapes and forms everyday and are so malicious that a new term has been coined – “malware.” New malware is being created at such a fast and pervasive pace that traditional security models cannot possibly handle them all, Quocirca says in a chilling white paper on the vulnerabilities in Internet communications. READ MORE →
With nearly a million new business start-ups each year and only about half surviving into their fifth year, how do you tell the winners from the losers?
One answer: Look for niche businesses, like financial planning for baby boomers or technology security consulting.
Niche firms like these are the firms which offer a product or service focusing on one specific aspect or customer base within an industry. They have, according to Entrepreneur magazine, a 25% better chance of surviving over 10 years than general types of companies. And they don?t just survive — they are growing at a rate of 20-25% per year.
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How does YOUR system stack up?
by Rick Telberg
(for the AICPA Insider)
If you’re like most CPAs we know, chances are you’re not completely happy with the payroll system you’re using. But there’s hope: payroll software makers, service centers and other solutions providers are listening.
According to Bay Street Group research, fully six in 10 CPAs are open to switching to a new payroll/benefits solution for themselves or their clients within the next 12 to 18 months, and one in 10 is already actively shopping right now.
Sixty percent of all the CPAs in the country is a sizeable number – well worth the attention of software designers and service providers. CPA wish lists are therefore well worth noting. READ MORE →
