politics

Deloitte Drives 9% Revenue Increase, to $31.3 Billion

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Should the world worry about mixing audit and consulting?

Amid concerns among lawmakers worldwide that the audit function was being diluted by consulting, Deloitte Touche Tohmatsu is reporting $31.3 billion in worldwide revenue for the  year ended in May, an 8.6% advance for the year and the firm’s strongest increase since 2008.

The revelations drew some sharp reactions. “It is hardly news that the Big Four accounting firms get bigger nearly every year,” says The Economist. “But where they are growing says a lot about how they will look like in a decade, and the prospects worry some regulators and lawmakers.” READ MORE →

Three Political Questions that Cloud the Tax Planning Outlook

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 We’re accountants, not fortune-tellers.

Special to CPA Trendlines

Rothstein Kass, the New York CPA firm, is advising clients that “looming ahead are many potential changes” with the possible demise of the Bush-era tax cuts.  In addition, several other bills are muddying the forecast.

“Even the world’s best soothsayer could not predict with accuracy what will happen between now and the end of the 2012 tax year with respect to the tax law,” Richard Bloom, National Leader of Trusts and Estates, and Neil Tendler are teling clients in a bulletin.

For example: READ MORE →

CPA Interstate Mobility Becomes a Reality in All but One of the United States

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Hawaii last holdout in battle dating to the last century.

by Rick Telberg / Exclusive to CPA Trendlines

It took 15 years, but CPAs can now operate freely throughout the contiguous United States.

California Gov. Jerry Brown has signed into law a bill allowing out-of-state-licensed CPAs to work in the state without needing a California license. Hawaii is now the last holdout. California’s law takes effect July 1, 2013. And the District of Columbia’s law goes into effect today.

It is an historic milestone in a long political struggle fraught with frustrations and setbacks that began with fiery, divisive wars within the profession itself.

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