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President Signs Financial Regulatory Reform Bill into Law

Mon, 26 Jul 2010 09:26:04 GMT

This wide-ranging legislation will impact financial firms and non-financial organizations.

Financial Institutions that Fail: An Industry Report Update

Wed, 30 Jun 2010 10:03:04 GMT

Uncertainty continues to hang over Wall Street and Main Street. Size limits on the country’s largest financial institutions, statutory leverage ratios, the establishment of the Consumer Financial Protection Agency — all are clear indicators the overall health of the U.S. financial services industry represents a national economic concern.

Business System Services - Center of Expertise

Wed, 30 Jun 2010 09:58:50 GMT

Implementing, upgrading and improving an organization’s technology can be challenging, risky and very expensive. But it doesn’t have to be. Done right, it can transform your business — align the business processes with business strategy, embed a continuous process improvement environment, and incorporate a change management philosophy and culture that will help your organization adapt to rapidly changing business conditions.

Shifting Course - Internal Audit Moves to Value Creation

Wed, 16 Jun 2010 15:57:04 GMT

Traditionally, the internal audit function focused on preserving the integrity of an organization’s assets and ensuring compliance with a growing number of regulations. Over the years, internal audit has evolved from being focused on preservation and compliance to a valuecreation trajectory. Its evolution to value creation began in the form of operational and performance auditing, reviewing and evaluating whether the organization’s resources were being used efficiently and effectively to fulfill its objectives.

Automating FAS 109

Wed, 16 Jun 2010 09:24:47 GMT

Although spreadsheets are great tools and taking certain steps can improve their accuracy and effectiveness, relying on them to calculate increasingly complex tax provisions ignores an inherent weakness.

Jefferson Wells Expands into Mexico, Central America and the Caribbean

Mon, 07 Jun 2010 16:49:47 GMT

June 7, 2010 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with Baker Tilly Mexico, an independent member of the international accounting and consultancy network, Baker Tilly International. The alliance agreement, completed on March 1, 2010, marks Jefferson Wells’ fifth expansion in twelve months and is its first into Mexico, Central America and the Caribbean.

COSO Quick Reference Guide II

Thu, 03 Jun 2010 14:14:37 GMT

In July 2006, the Committee on Sponsoring Organizations (COSO) released its final guidance to assist smaller public companies in implementing the 1992 COSO Internal Control Integrated Framework. After considering comment letters regarding the

Contract Compliance

Wed, 02 Jun 2010 12:40:28 GMT

Third-party contract reviews can maximize revenue, minimize costs.
Given the unprecedented economic times, it’s not surprising that many companies have embedded revenue enhancement and cost reduction into their business strategies and cultures.

Mining Literature

Mon, 10 May 2010 12:55:20 GMT

When you work with Jefferson Wells, you work with mining industry experts who bring significant practical, hands-on experience to each engagement. Mining and mining-related companies around the globe come to us for assistance in adopting best practices and achieving their most important business objectives.

Microsoft SQL Server 2008 Features Support HIPAA Compliance

Mon, 10 May 2010 12:53:00 GMT

Legislation relative to many types of industry compliance requirements continues to evolve, expanding in scope, impact and implications worldwide. Healthcare organizations in particular must be diligent sentinels to avoid compliance infractions, data loss, and security breaches that may lead to unnecessary costs, penalties and loss of consumer trust.

Internal Control Optimization Literature

Mon, 10 May 2010 12:49:39 GMT

What are you doing to optimize your internal control environment?
One of the most significant challenges for companies is integrating internal control compliance into a repeatable and sustainable element of daily operations. A primary goal is for an organization’s cumulative efforts and processes to result in compliance rather than the organization establishing processes solely for compliance.

Internal Control Optimization - Financial Services Company

Wed, 05 May 2010 09:47:47 GMT

Client: A $2 billion global insurer and financial services provider to cooperatives and credit unions.

Sustaining Internal Control Compliance Client Success Story - Financial Services Company

Wed, 05 May 2010 09:41:20 GMT

Client: A global leader in personal and commercial financial services operating in more than 40 markets around the world

Regulatory Compliance Client Success Story - Insurance Company

Wed, 05 May 2010 09:40:01 GMT

Client: A Wisconsin-based insurance company operating in 18 states with over $15 billion in assets.

Account Reconciliation - Insurance Company

Wed, 05 May 2010 09:35:28 GMT

Client: The large insurance subsidiary of a publicly traded company, which was in liquidation.

A Route to Growth Through Dubai

Tue, 04 May 2010 10:51:28 GMT

The alarms set off in late 2009 by Dubai World’s credit crisis only underscored how a fast-developing emerging market, despite its supposed insulation from Western economies, was in no way immune from international market difficulties.

Business System Services

Wed, 21 Apr 2010 10:02:18 GMT

Today’s competitive market conditions demand that you deploy your business systems more efficiently and cost effectively than ever. Implementing, upgrading and improving an organization’s technology can be challenging, risky and very expensive. But it doesn’t have to be.

IFRS - The European Experience – Canadian Version

Tue, 20 Apr 2010 10:27:04 GMT

Recently, the Accounting Standard Board (AcSB) provided a timeline and transitioning guidance for adoption of International Financial Reporting Standards (IFRS) by as early as 2009, and mandatory use of IFRS starting in 2011.

2010 Compliance Challenges: Three More Areas That Matter

Fri, 16 Apr 2010 14:20:04 GMT

Three More Areas That Matter 2010 and beyond will present complex compliance challenges regardless of industry.

2010 Financial Institutions Regulatory Checklist

Wed, 14 Apr 2010 12:58:14 GMT

The number of changes to regulations affecting financial institutions seems to be escalating. The checklist below will help you as you assess your approach to and readiness for these regulatory changes.

Jefferson Wells Expands Forensic and Investigative Accounting Services

Thu, 25 Mar 2010 12:49:23 GMT

March 25, 2010 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with Sawyer & Company, a specialist forensic and investigative accounting firm. The alliance agreement was completed on March 1, 2010.

New RESPA Regulations Take Effect

Fri, 19 Mar 2010 15:27:29 GMT

February 3, 2010 ― The Real Estate Settlement Procedures Act (RESPA), as implemented by Regulation X, was passed by the U.S. Congress in 1974. The legislation was designed to prohibit the use of kickbacks between lenders and third parties in real estate transactions, which had been inflating the overall cost of those transactions.

Market Caps Tumble, but Audits Remain Costly

Fri, 19 Mar 2010 15:25:58 GMT

Smaller public companies with tumbling market capitalizations in 2008 may be able to enjoy a year of reprieve from an internal control audit—but that doesn’t mean they should expect a break in the audit bill.

Jefferson Wells Acquires the Gelber Organization

Fri, 19 Mar 2010 15:23:37 GMT

August 28, 2008 – Jefferson Wells, a global provider of tax, finance and accounting, internal audit and controls, and technology risk management-related services, today announced...

IFRS Calculator Helps Companies Determine Readiness

Fri, 19 Mar 2010 15:22:06 GMT

September 25, 2008 – The U.S. Securities and Exchange Commission (SEC) proposed a roadmap...

Fraud: Is Your Organization at Risk?

Fri, 19 Mar 2010 15:19:22 GMT

Passage of the Sarbanes-Oxley Act (SOX) caused more and more companies, public and private, to assess their vulnerability to fraud and abuse. Section 404(a) of the Act requires management of public companies to assess and report on its internal financial reporting controls, largely to ensure...

Construction Audit Services Client Success Story - Education

Fri, 19 Mar 2010 15:16:36 GMT

Client: A large suburban independent school district with an enrollment of over 24,000 students.

Construction Audit Services Client Success Story - Education

Fri, 19 Mar 2010 15:15:23 GMT

Client: A private, co-educational university that is among the world’s leading educational and research institutions with registration of more than 20,000 students.

Companies Welcome Off-Balance Sheet Reforms

Fri, 19 Mar 2010 15:13:44 GMT

Just as the federal government engineers historic bailouts for financial giants like Fannie Mae, Freddie Mac, and insurer AIG, an accounting rule proposal aims to...

U.S. ‘red flag’ rules could affect Canadian banks

Fri, 19 Mar 2010 14:05:45 GMT

A new regulation requiring banks and creditors to identify potential consumer identity theft is scheduled to take effect in the United States on Nov. 1, but at least one industry expert said Canada could also experience the spillover effects.

Transfer Pricing Rules Take Aim at Tax Avoidance

Fri, 19 Mar 2010 14:03:06 GMT

The Internal Revenue Service has issued new rules taking aim at the transfer pricing arrangements corporations often use to develop new technologies—a move that piles on more concern ...

Transfer Pricing Center of Expertise - Subject Matter Experts

Fri, 19 Mar 2010 13:59:42 GMT

Victor offers more than 20 years of economics consulting experience in Big Four public accounting and management consulting. He is the Global Director of the Jefferson Wells Transfer Pricing Center of Expertise and leader of transfer pricing and economics consulting services.

Transfer Pricing - Center of Expertise

Fri, 19 Mar 2010 13:57:50 GMT

Multinational corporations’ transfer pricing practices are under scrutiny by governments hoping to keep tax revenues from flowing overseas. Companies have been assessed additional taxes and penalties, significantly affecting their tax expense and overall earnings per share. More than ever, companies should assess their current transfer pricing situation.

Transfer Pricing - A Balanced Approach for Complex Requirements

Fri, 19 Mar 2010 13:55:50 GMT

Because of dynamic global expansion, a majority of the world’s cross-border movement of goods and services now occurs through related entities, bringing with it a multitude of tax and business concerns.

IFRS - The European Experience

Fri, 19 Mar 2010 13:50:16 GMT

In August 2008, the U.S. Securities and Exchange Commission (SEC) provided U.S. financial markets with a roadmap for adoption of International Financial Reporting Standards (IFRS). It offers a select group of issuers the option to file using IFRS, followed by mandatory filing for all public companies. By most accounts, the transition from U.S. generally accepted accounting principles (GAAP) to IFRS is inevitable.

The Anti-Fraud Imperative: Fraud Risk Management is No Longer Optional

Fri, 19 Mar 2010 13:46:59 GMT

When organizations are under duress, the pressure on management to perform provides an incentive not only for “right sizing” and cost controls but also for fraud-ulent activity. It should be, therefore, no surprise the number and size of corporate frauds are increasing — and that many investors are losing confidence in the credibility of financial statements.

The 10 Hallmarks of a Premiere Internal Audit Function

Fri, 19 Mar 2010 13:44:03 GMT

Members of the Institute of Internal Auditors (IIA) and Certified Internal Auditors must follow the standards listed below. These standards and other guidance comprise the Professional Practices Framework – recognized around the globe.

Technical Accounting and Reporting Client Success Story - Insurance Company

Fri, 19 Mar 2010 13:35:46 GMT

Client: A publicly traded insurance company with annual revenues of more than $48 billion.

Tax Accounting Automation Brochure

Fri, 19 Mar 2010 13:31:21 GMT

With our in-depth understanding of the income tax provision process, we help you navigate the highly challenging corporate tax accounting environment.

Taming the elephant: A sensible approach to enterprise risk management

Fri, 19 Mar 2010 13:28:43 GMT

The best way to eat the elephant standing in your path is to cut it up into little pieces. – African Proverb. For those responsible for governance, risk and compliance, enterprise risk management (ERM) may be the woolly mammoth of elephants. ERM has become a top priority for executives who realize...

State and Local Tax - Unclaimed Property

Fri, 19 Mar 2010 13:20:59 GMT

Virtually every company will have an unclaimed property obligation at some point, and many have an annual obligation to multiple jurisdictions. Every state, plus some Canadian provinces, Puerto Rico and the U.S. Virgin Islands, has some form of unclaimed property legislation.

State and Local Tax - Credits and Incentives

Fri, 19 Mar 2010 13:13:01 GMT

State and enterprise zone incentives are constantly evolving as states change their programs, eligibility criteria and other related contingencies. Companies seeking to decrease their corporate tax liability and increase cash flow through state credits and incentives must monitor legislation and consider other aspects of the business such as operations, location and industry.

State and Local Tax - Center of Expertise

Fri, 19 Mar 2010 13:07:35 GMT

In today’s challenging economy, companies are looking for ways to minimize the impact of state and local tax liabilities. Companies are also seeking ways to mitigate risk with respect to a dynamic and complex state and local taxation environment.

Small companies also can benefit from Sarbanes-Oxley

Fri, 19 Mar 2010 13:01:46 GMT

If you listened carefully, you could almost hear the collective sigh of relief from 5,000 smaller public companies when Securities and Exchange Commission (SEC) Chairman Christopher Cox proposed yet another extension to the...

Security Control Threats in Tight IT Budgets

Fri, 19 Mar 2010 12:58:41 GMT

For all the improvements companies have made to their IT security and control systems in the last five years, one menace still looms large these days ...

SEC Publishes IFRS Roadmap

Fri, 19 Mar 2010 12:50:21 GMT

August 27, 2008 — The Securities and Exchange Commission (SEC) proposed a roadmap outlining key activities that need to be completed before the SEC requires the adoption of International Financial Reporting Standards (IFRS) for U.S. filers. According to the proposed roadmap, the SEC will evaluate progress against these milestones in 2011.

SEC Publishes IFRS Roadmap

Fri, 19 Mar 2010 12:47:09 GMT

November 14, 2008 — The Securities and Exchange Commission (SEC) published for comment its proposed roadmap outlining key activities that need to be completed...

SEC Hosts First of Two Mark-to-Market Accounting Roundtables

Fri, 19 Mar 2010 12:44:44 GMT

October 29, 2008 — The U.S. Securities and Exchange Commission (SEC) hosted the first of two roundtable discussions to provide input to the Congressionally...

SEC Adopts Financial Statement Rule Changes for FPIs and Redefines “Smaller Reporting Companies”

Fri, 19 Mar 2010 12:41:47 GMT

November 15, 2007 - The Securities and Exchange Commission (SEC) adopted rule changes allowing the SEC to accept financial statements, prepared using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), from foreign private issuers (FPIs).

Satyam Scandal Raises Questions on Vendors

Fri, 19 Mar 2010 12:38:04 GMT

While authorities in India work to unravel a $1 billion fraud scheme at Satyam Computer Services, its U.S. customers would be wise to do some digging into their own books ...

Sarbanes-Oxley for Non-Accelerated Filers Methodology Overview

Fri, 19 Mar 2010 12:30:13 GMT

A four phase Sarbanes-Oxley for Non-Accelerated Filers Methodology Overview

Regulatory Review of the HITECH Act Provision

Fri, 19 Mar 2010 12:21:42 GMT

April 2009 - The new Health Information Technology for Economic and Clinical Health Act (HITECH Act) contained within the American Recovery and Reinvestment Act of 2009 (the Recovery Act) and signed into law on February 17, 2009, sets new standards ...

Quality Assessment Review Literature

Fri, 19 Mar 2010 12:17:57 GMT

Internal audit has never been more complex. Often, practical recommendations are needed to elevate the overall efficiency and effectiveness of the internal audit function, and enhance...

Putting IT Governance Into Action

Fri, 19 Mar 2010 12:14:14 GMT

As internal control experts, auditors can help turn desired IT strategies into...

Policy and Procedure Development Services

Fri, 19 Mar 2010 12:06:03 GMT

Policy and Procedure Development Services assist organizations in developing and updating policies, procedures and business process documentation for a variety of functional areas including accounting, finance, operations, administration, corporate governance and other business entities.

PCAOB Issues Auditing Standard No. 5

Fri, 19 Mar 2010 12:01:55 GMT

May 24, 2007 – The Public Company Accounting Oversight Board (PCAOB) approved a new auditing standard to replace the existing Auditing Standard No. 2 (AS2) on internal control over financial reporting (ICFR). Auditing Standard No. 5 (AS5) – An Audit of Internal Control over Financial Reporting that Is Integrated with an Audit of Financial Statements – provides guidance for external auditors, allowing for improved audit efficiency and a more focused, top-down and scalable approach.

North Carolina 2009 Budget Bill and Legislation Enacted

Fri, 19 Mar 2010 11:58:16 GMT

New tax provisions affect corporate and individual incomea tax and sales and use tax beginning in 2009.

North American Overview

Fri, 19 Mar 2010 11:55:22 GMT

Jefferson Wells was founded in 1995 as an alternative to public accounting firms for internal audit services. Over the years, we expanded our expertise to include finance and accounting services, tax services and technology risk management.

New Global Risk Advisory Practice Launched at Jefferson Wells

Fri, 19 Mar 2010 11:52:57 GMT

MILWAUKEE – August 11, 2009 – Jefferson Wells, a global provider of risk, tax, and finance and accounting-related services, today announced the launch of a new global practice to assist clients in comprehensively addressing risk management issues.

Mergers and Acquisitions - Turning Your Vision Into Reality

Fri, 19 Mar 2010 11:49:06 GMT

Buying, selling or restructuring your business is one of the most challenging, critical decisions you will make. Unfortunately, transaction success is not guaranteed. Historically, approximately two-thirds of mergers and acquisitions fail to achieve their anticipated results, and many actually destroy enterprise value.

Maximize Your Working Capital

Fri, 19 Mar 2010 11:45:56 GMT

Companies are looking for ways to maximize their working capital and minimize the day-to-day impact of...

MasterCard Reverses Position on PCI Requirements

Fri, 19 Mar 2010 11:42:37 GMT

January 26, 2010 — MasterCard announced a reversal of its previous decision to increase PCI validation requirements for merchants. In response to a letter from the Institute of Internal Auditors (IIA), MasterCard announced that, as of December 15, 2009, there are additional changes to its Site Data Protection (SDP) Program, the program governing compliance with the Payment Card Industry Data Security Standard (PCI DSS) for merchants and service providers.

Loan Review and Credit Quality Assessment Literature

Fri, 19 Mar 2010 11:40:40 GMT

What are Loan Review and Credit Quality Assessment Services? Jefferson Wells’ Loan Review and Credit Quality Assessment services provide an independent review to assess a financial institution’s adherence...

Keeping Out Hackers While Allowing Access to Insiders

Fri, 19 Mar 2010 11:38:25 GMT

Keeping proprietary information safe within your company is an issue of increasing significance as incidences of identity and data theft continue to rise.

Keeping cash “king” in a down economy

Fri, 19 Mar 2010 11:36:45 GMT

July 2008 – Working capital is a primary indicator of a company’s financial health. In a credit-dependent industry, such as construction, many profitable companies...

Jefferson Wells Overview

Fri, 19 Mar 2010 11:14:50 GMT

Jefferson Wells Announces Expansion into South America

Fri, 19 Mar 2010 10:44:22 GMT

December 17, 2009 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with Baker Tilly Brasil, an independent member of the international accounting and consultancy network, Baker Tilly International. The alliance agreement, completed on September 28, 2009, marks Jefferson Wells’ fourth alliance this year and is its first expansion into South America.

Jefferson Wells Announces Expansion into Middle East

Fri, 19 Mar 2010 10:42:08 GMT

December 16, 2009 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with Great Sands Consulting, a leading business and technology consulting company in the United Arab Emirates. The alliance agreement, completed on September 28, 2009, marks Jefferson Wells’ third alliance this year and is its first expansion into the Middle East.

Jefferson Wells Announces Expansion into Japan

Fri, 19 Mar 2010 10:39:28 GMT

December 15, 2009 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with Larkin & Associates, a leading provider of compliance and risk consulting services in Japan.

Jefferson Wells Announces Alliance with S&S Business Solutions

Fri, 19 Mar 2010 10:36:52 GMT

MILWAUKEE – August 13, 2009 – Jefferson Wells, a global provider of risk advisory, tax, and finance and accounting-related services, today announced it has established an alliance with S&S Business Solutions (S&S), a leading provider of professional services in India. The alliance agreement, completed on July 15, enables Jefferson Wells to meet its growing clients’ needs in the region by aligning with S&S’s established practice in India.

Internal Audit: From Corporate Policeman to Strategic Partner in GRC Success

Fri, 19 Mar 2010 10:33:30 GMT

With the global credit market collapse came subsequent declines in employment levels, oil prices, consumer confidence and housing prices. Financial markets in crisis. Shareholders and executive management alike asked, what happened? Why did traditional risk management practices seemingly fail?

Information Technology Strategic Initiatives

Fri, 19 Mar 2010 10:30:54 GMT

Today, exposure to legal, regulatory and compliance risks is an every day occurrence. Coupled with the current economic, regulatory and social climate, these risks have propelled corporate governance, compliance management and integrity to a top priority.

Information Security - Protection You can Depend On

Fri, 19 Mar 2010 10:27:28 GMT

Budgets are tight. Resources are stretched. Yet, no organization can afford to have its information security breached. Any breach can potentially destroy the confidence of customers, investors and employees.

Industry News - OMB Enhances Reporting Guidance

Fri, 19 Mar 2010 10:24:40 GMT

June 22, 2009 – The Office of Management and Budget (OMB) released additional guidance to assist federal agencies and funding recipients in complying with the reporting requirements of the American Recovery and Reinvestment Act of 2009 (Recovery Act).

OMB Releases Recovery Act Reporting Guidelines

Fri, 19 Mar 2010 10:14:50 GMT

April 3, 2009 – The Office of Management and Budget (OMB) released guidance to assist federal agencies, state and local governments and other recipients of stimulus funding in complying with the reporting requirements of the American Recovery and Reinvestment Act of 2009 (Recovery Act).

IFRS: Opportunity or Nightmare

Fri, 19 Mar 2010 10:07:36 GMT

By almost all accounts, the transition from U.S. generally accepted accounting principles (GAAP) to international financial reporting standards (IFRS) is inevitable.

IFRS — L’EXPÉRIENCE EUROPÉENE

Fri, 19 Mar 2010 10:05:05 GMT

Le Conseil des normes comptables (CNC) a récemment établi un échéancier et des lignes directrices en prévision de l’adoption des Normes internationales d’information financière (IFRS) qui pourrait avoir lieu dès 2009 et de leur application obligatoire à compter de 2011.

IFRS - Convergence or Divergence?

Fri, 19 Mar 2010 10:02:39 GMT

Ever since The Securities and Exchange Commission (SEC) proposed mandatory use of International Financial Reporting Standards (IFRS), companies found themselves in the midst of an unprecedented global financial reporting phenomenon.

Identity Theft “Red Flags” Rules

Fri, 19 Mar 2010 09:59:29 GMT

Sarbanes-Oxley. PCI-DSS. You may have met these compliance challenges, but are you prepared to tackle the Identity Theft “Red Flags” Rules of the Fair and Accurate Credit Transaction Act?

HUD Finalizes RESPA Amendments

Fri, 19 Mar 2010 09:56:24 GMT

November 2008 – The U.S. Department of Housing and Urban Development (HUD) published its final amendments to the Real Estate Settlement Procedures Act (RESPA).

How to Prepare for the IFRS Tsunami

Fri, 19 Mar 2010 09:53:01 GMT

Death, taxes—and now, conversion to international accounting standards. It’s that real.

How the Tax Executives Should Approach IFRS

Fri, 19 Mar 2010 09:46:36 GMT

As a U.S. transition to international accounting standards appears more and more inevitable, corporate tax departments need to get a seat at the table to assure...

Global Sourcing Forum Report: Industry Leaders Meet to Share Perspectives

Fri, 19 Mar 2010 09:44:07 GMT

In February 2008, a group of 25 risk, internal audit and finance executives representing multinational retailing organizations participated in a Global Sourcing Forum sponsored by Jefferson Wells and Lowe’s. The forum featured discussions on emerging issues in global sourcing.

From the M&A Front: Address tax considerations early in the process

Fri, 19 Mar 2010 09:39:55 GMT

Approximately two-thirds of recent mergers and acquisitions failed to achieve their anticipated results and, of those, one-third actually destroyed value for the acquiring company, according to a 2007 review of 180 studies of M&A activity over the last 20 years conducted by Dr. Robert F. Bruner at the University of Virginia.

Financial End-User Application Risk Literature

Fri, 19 Mar 2010 09:34:40 GMT

Financial End-User Application Risk Services assess, identify and categorize financial and operational spreadsheet risks. They provide a risk-based approach for identifying and mitigating critical financial and operational risks through spreadsheet remediation efforts consisting of documentation and application of spreadsheet development best practices.

FDIC Modifies Regulatory Capital Rules

Fri, 19 Mar 2010 09:27:38 GMT

January 13, 2010 – Working with other federal bank regulatory agencies, in mid-December 2009, the Federal Deposit Insurance Corporation (FDIC) finalized regulatory capital rules that set the time line for the implementation of higher minimum capital requirements triggered by two new Financial Accounting Standards Board (FASB) accounting standards, FAS 166 and 167.

Fair Value Measurement Yardstick

Fri, 19 Mar 2010 09:24:40 GMT

It’s not often the Financial Accounting Standards Board (FASB) issues a pronouncement with such a pervasive effect on existing accounting pronouncements as FASB Statement No. 157, Fair Value Measurements (FAS 157). Since FAS 157 amends over 20 Accounting Principles Board Opinions and FASB pronouncements that require...

ÊTES-VOUS PRÊTS À ADOPTER LES IFRS?

Fri, 19 Mar 2010 09:21:12 GMT

En février 2008, le Conseil des normes comptables (CNC) du Canada a proposé un projet de feuille de route décrivant les étapes à franchir en prévision de l’adoption obligatoire des normes internationales d’information financière (IFRS) par l’ensemble des déclarants canadiens.

ÊTES-VOUS PRÊTS À ADOPTER LES IFRS?

Fri, 19 Mar 2010 09:18:21 GMT

De nombreuses entreprises évaluent actuellement les répercussions qu’aura l’adoption des IFRS sur leurs activités.

Enterprise Risk Management Literature

Fri, 19 Mar 2010 09:15:22 GMT

In today’s warp-speed business environment, opportunities can vanish and threats materialize overnight. To remain viable, companies must be able to identify, assess and respond to a myriad of challenges, real time. Risk management must become ingrained as a way of thinking across the organization.

Does Your Construction Project Have Adequate Controls?

Fri, 19 Mar 2010 09:11:40 GMT

As construction in the gaming industry continues to increase, learn how internal auditors can help combat fraud throughout the project — from awarding contracts to project closeout.

Details on TARP Announced

Fri, 19 Mar 2010 09:07:14 GMT

February 2009 - The U.S. Treasury and federal banking regulators announced details of economic assessments that will begin as part of the Capital Assistance Program (CAP) under the Treasury’s Troubled Asset Relief Program (TARP).

COSO Releases Discussion Document on Monitoring Internal Control Systems

Fri, 19 Mar 2010 09:02:26 GMT

September 17, 2007: The Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued a discussion document, Guidance on Monitoring Internal Control Systems, intended to more fully develop the monitoring component of the Internal Control - Integrated Framework to assist companies in ensuring the effectiveness of their financial, operational and compliance-related internal controls.

Contract Compliance and Cost Recovery

Fri, 19 Mar 2010 08:58:01 GMT

Tired of negotiating contract savings, but not realizing them? You are not alone. In today’s global market-place, organizations are challenged to reduce costs by negotiating harder, buying smarter and leveraging every possible advantage to increase the bottom line.

Construction Services - Protecting Your Financial Interests

Fri, 19 Mar 2010 08:52:28 GMT

Construction projects are typically among the largest, most complex financial expenditures companies undertake. It’s important that you, as an owner or lending institution, have adequate internal controls in place during the project life cycle for your specific type of construction contract.

Construction Project Life Cycle

Fri, 19 Mar 2010 08:50:04 GMT

Construction Project Life Cycle showing Cost Segregation and Construction Audit Timelines

Construction Audit Services Literature

Fri, 19 Mar 2010 08:46:34 GMT

Construction projects are major opportunities, but the risks are significant, too. Although these projects rank among organizations’ largest, most complex financial expenditures, too often, financial and management controls are lacking. Partnering with experts to help you plan and manage the project’s financial aspects can make the difference between extensive cost overruns and a project...

Construction Audit Services Client Success Story - Hospital

Fri, 19 Mar 2010 08:38:43 GMT

Client: A large hospital in Kansas City.

Clean Sheet or Topside Tweaking for IFRS?

Fri, 19 Mar 2010 08:34:08 GMT

Although a clear path toward adoption of International Financial Reporting Standards in the United States hasn’t been established, the largest public companies are already mulling...

Obama Administration Proposes Regulatory System Changes

Fri, 19 Mar 2010 08:24:28 GMT

June 17, 2009 – The Obama administration has announced plans to reform the U.S. financial regulatory system. The plans include changes that would restructure and streamline bank oversight; create a systemic risk regulatory function that would rest with the Federal Reserve; create a new Consumer Financial Protection Agency; and combine two federal agencies into one.

Businessss Continuity Management Services

Thu, 18 Mar 2010 14:30:31 GMT

Business Continuity Management is a four-phase modular approach designed to reduce the risk of unplanned interruptions to both manual and automated key business functions, minimizing the impact of unplanned interruptions and ensuring the continuity of critical business services.

Business Continuity Planning - Health Management Technology

Thu, 18 Mar 2010 14:06:17 GMT

The development and management of a robust business continuity plan (BCP) for a healthcare organization can be a daunting task. Keeping clinical operations open 24/7 and providing safe and secure facilities is not where business continuity ends. Periodic training of business departments throughout the organization on BCP-related activities is a...

IT Department Worst Nightmare

Thu, 18 Mar 2010 13:57:06 GMT

Company policies on using hardware, software and the Internet are becoming increasingly strict as employers attempt to protect confidential intellectual property. Employees may view the Internet, laptops and other mobile devices as efficient and convenient tools, but IT managers see them as windows to the world outside the company’s protected walls.

Blackberry Exploit

Wed, 10 Mar 2010 12:45:16 GMT

Recently, an attack was identified that provides outsiders with direct access to corporate systems and network data through a linked Blackberry or other personal digital assistant (PDA), bypassing all implemented external access barriers.

Technical Accounting and Reporting Literature

Wed, 10 Mar 2010 12:33:43 GMT

Can you meet the increasing demands of your technical accounting and reporting requirements? Organizations without the necessary expertise to meet the increasing volume of technical accounting and reporting requirements need to identify alternatives to balance compliance initiatives with bottom-line activities. The ideal solution is to partner with a single source for experienced resources who can address...

Are You Vulnerable to Fraud?

Wed, 10 Mar 2010 12:20:12 GMT

The Sarbanes-Oxley Act (SOX) requires a company to establish antifraud programs and controls to prevent, deter and detect fraudulent activities that could result in material misstatements to its financial statements and to have a risk assessment process in place. According to the Public Company Accounting Oversight Board’s (PCAOB) Auditing Standard No. 5, when planning and performing the...

Are You Ready to Adopt IFRS? – Canadian Version

Wed, 10 Mar 2010 12:16:30 GMT

In February of 2008, the Accounting Standards Board of Canada (AcSB) proposed a roadmap outlining milestones that needed to be met before the AcSB moved toward mandatory adoption of International Financial Reporting Standards (IFRS) for all Canadian filers.

Are You Ready to Adopt IFRS?

Wed, 10 Mar 2010 12:11:46 GMT

On August 27, 2008, the Securities and Exchange Commission (SEC) proposed a roadmap outlining milestones that need to be met before the...

Are you ready to Adopt IFRS Tool

Tue, 09 Mar 2010 15:00:38 GMT

Many organizations are evaluating how a transition to IFRS will affect them. The questions below will help you assess your readiness for a transition to IFRS.

ALLL Methodology

Tue, 09 Mar 2010 14:57:00 GMT

These days, financial institutions’ allowances for loan and lease losses (ALLL) adequacy and their ALLL methodologies are the focus of significant attention from bank boards, management, external accountants and, of course, regulators.

Anti-Money Laundering Literature

Tue, 09 Mar 2010 14:55:23 GMT

Our Anti-Money Laundering/Bank Secrecy Act (AML/BSA) Compliance Services provide the expertise and resources to assist organizations in complying with the AML/BSA laws and regulations and provide practical recommendations for improvement. We accomplish this by...

American Recovery and Reinvestment Act of 2009 Impact Overview

Tue, 09 Mar 2010 14:49:14 GMT

March 2009 - On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 (the Recovery Act), into law, requiring a high degree of transparency and accountability from those receiving Recovery Act resources. Federal agencies, states and other recipients of these funds will have to expand their program, fiscal and project management reporting capabilities and enhance controls over the use and disbursement of funds.

Achieving the Benefits of AS5 and the New SEC Guidance on Sarbanes-Oxley Section 404 Compliance

Tue, 09 Mar 2010 14:08:02 GMT

After a flurry of proposals, open meetings, roundtable discussions and international conferences in late 2006 and early 2007, the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) provided clear management guidance and an auditing standard to simplify...

OMB Issues Open Government Directive

Wed, 03 Mar 2010 16:33:24 GMT

March 3, 2010 ― The clock started ticking for executive-level government departments and agencies on December 8, 2009, when the Office of Management and Budget (OMB) issued an Open Government Directive that includes formal action deadlines on transparency, participation and collaboration.

Public Sector - American Recovery and Reinvestment Act

Tue, 02 Mar 2010 11:56:59 GMT

In February 2009, the $787 billion American Recovery and Reinvestment Act (ARRA) was signed into law to address the economic crisis in the United States. Monies were allocated for a variety of areas, including clean, efficient energy; 21st Century education; healthcare modernization; science and technology; roads, bridges, transit and waterways; and more.

Tax Process Improvement Client Success Story - Manufacturing Company

Tue, 02 Mar 2010 09:43:39 GMT

Client: The tax department of a Fortune 500 manufacturer

State and Local Tax - Sales & Use Tax Self-Audit Approach

Tue, 02 Mar 2010 08:56:19 GMT

Our objective is to paint an accurate picture of the status of your sales and use tax exposure (underpayments) and refunds and provide the assistance you need to manage the ongoing process.

European VAT Recovery Process

Tue, 02 Mar 2010 08:51:04 GMT

Most European states operate Value Added Tax (VAT) systems requiring suppliers to add a tax charge to a wide range of the goods or services your business buys in Europe. VAT can be up to 25 percent of the cost incurred and cover costs as diverse as...

Cost Segregation Analysis Literature

Tue, 02 Mar 2010 08:44:06 GMT

Segregating certain asset classes can yield tax benefits. Cost segregation analysis is a process in which certain building costs and land improvements, traditionally depreciated over 27.5 or 39 years, are reallocated to...

Technology Risk Assessment Literature

Mon, 01 Mar 2010 16:18:24 GMT

What are Technology Risk Assessment Services? Technology Risk Assessment (TRA) Services identify and rank risks that could threaten the integrity of an organization’s information systems and technology infrastructure. TRA services are designed to support the development and maintenance of an Information Technology (IT) audit plan, flagging those risks that require immediate remediation. The assessment can be customized to...

Sustaining Internal Controls Compliance Client Success Story - Health and Life Sciences Company

Mon, 01 Mar 2010 16:15:41 GMT

Client: A global, values-driven health and life sciences company with facilities in 27 countries

Sarbanes-Oxley Compliance for Smaller Businesses

Mon, 01 Mar 2010 16:07:27 GMT

The Sarbanes-Oxley Act of 2002 may be one of the most significant challenges businesses have faced in decades. Understanding the scope and extent of Sarbanes-Oxley compliance activities, along with...

Perspectives on COSO’s Monitoring Guidance

Mon, 01 Mar 2010 16:02:58 GMT

In June 2008, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published...

Managing IT Costs in Tough Economic Times

Mon, 01 Mar 2010 16:00:00 GMT

We are in the midst of a serious economic contraction. It’s gripped the globe, causing high anxiety among investors, businesses large and small and even the average person on the street.

IT Governance Literature

Mon, 01 Mar 2010 15:56:52 GMT

What is IT Governance? Jefferson Wells IT Governance services evaluate legal, regulatory, institutional and ethical environments as they relate to your internal control framework. These can affect an organization’s direction, performance and accountability, operations, reliability of financial reporting and disclosure, and compliance with applicable laws and regulations.

Information Security Governance Services Literature

Mon, 01 Mar 2010 15:44:23 GMT

What are Information Security Governance Services? Information Security Governance Services assist organizations in assessing their current security management practices or in building security management architectures and offices. They include assessments of...

SEC Releases Final Management Guidance

Mon, 01 Mar 2010 15:26:59 GMT

May 23, 2007 – The Securities and Exchange Commission (SEC) voted to release guidance for management on the evaluation of internal controls over financial reporting (ICFR). The intent is to streamline implementation of Section 404 of the Sarbanes-Oxley Act (SOX) by offering guidance on Management’s Assessment.

Transfer Pricing Risk Rises Under FIN 48

Mon, 01 Mar 2010 15:19:02 GMT

Specialists in economics, law, accounting, and tax, must balance economics, local tax law and interpretations with the substance and form of company operations to ensure prices charged for intercompany transactions satisfy tax authorities on all sides of the transactions. Meanwhile, tax authorities battle to stem erosion of their tax bases.

Contract Compliance and Cost Recovery Services Literature

Mon, 01 Mar 2010 15:12:00 GMT

Jefferson Wells Contract Compliance and Cost Recovery Services help you reduce costs, recover savings and improve processes. Our professionals evaluate an organization’s exposure to overpayments through an in-depth review of the procurement process to identify control weaknesses and recover savings. These services are critical when...

Working Capital Optimization Literature

Mon, 01 Mar 2010 15:04:34 GMT

What are Working Capital Optimization Services? Working Capital Optimization Services provide a focused approach to improve cash flow from internal and external sources. This is accomplished through analysis of critical business processes such as accounts receivable, accounts payable, inventory and fixed assets. Information obtained from this analysis can help to identify...

Solutions Provisoires

Mon, 01 Mar 2010 15:01:15 GMT

La tendance aux restrictions budgétaires se maintient dans les entreprises du monde entier.

SEC Roundtable Compares US GAAP to IFRS

Mon, 01 Mar 2010 14:55:26 GMT

August 4, 2008 ― The Securities and Exchange Commission (SEC) hosted a roundtable comparing the performance of U.S. generally accepted accounting principles...

Technology Risk Assessment Client Success Story - Financial Services Company

Mon, 01 Mar 2010 14:45:12 GMT

Client: A large federal credit union with more than $2 billion in assets.

Sales and Use Tax Audit - Telecommunications Company

Mon, 01 Mar 2010 14:37:53 GMT

Client: A leader in the wireless messaging industry with more than 1.7 million customers and revenues of nearly $300 million.

IT Audit Co-Source and SOX Compliance Client Success Story - Telecommunications Company

Mon, 01 Mar 2010 14:25:04 GMT

Client: A global wholesale telecommunications company.

J-SOX Client Success Story - Manufacturing

Mon, 01 Mar 2010 14:14:53 GMT

Client: The North American operations of a Japanese manufacturer with annual sales of more than 700 billion Yen.

Co-Sourcing Client Success Story - Chemical Manufacturing

Mon, 01 Mar 2010 14:11:36 GMT

Client: An innovative Fortune 500 specialty chemical company with manufacturing facilities in 20 countries and sales and technical offices around the world that generates approximately $4 billion in annual revenue

IT Security Governance - HIPAA - Client Success Story - Leading Academic Health Facility

Mon, 01 Mar 2010 13:53:39 GMT

Client: A leading academic healthcare facility in tertiary care services, including specialization in the diagnosis and treatment of heart, lung and vascular diseases

IT Security Governance Client Success Story - Medicare Contractor

Mon, 01 Mar 2010 13:48:37 GMT

Client: A large Medicare contractor with offices across the Unites States

Financial Institutions that Fail: Four Common Denominators

Thu, 25 Feb 2010 16:01:47 GMT

Whether it’s economic uncertainty that alters the perception of a borrower’s credit quality, the company’s own capital market pressures, or changing regulatory guidelines, Board members and senior management must mitigate a corporation’s risk to not only sustain and increase existing market share but also to ensure the institution’s ongoing viability.

SEC Continues to Support IFRS for U.S. Issuers

Thu, 25 Feb 2010 12:36:04 GMT

February 24, 2010 — The Securities and Exchange Commission (SEC) met and unanimously approved the release of a statement continuing its support for a single set of high-quality, globally accepted accounting standards and its consideration of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. issuers.

State Income and Franchise Tax Services

Thu, 25 Feb 2010 10:44:24 GMT

Our State and Local Tax Center of Expertise Income and Franchise Tax services include state tax reviews and planning, compliance, accounting for state income and franchise taxes (FAS 109, FIN 48 and FAS 5), state structural planning, assistance with state issues concerning mergers and acquisitions, and audit controversy and dispute resolution for all U.S. state and local tax jurisdictions.

IT Audit Client Success Story - Insurance and Financial Services Company

Wed, 24 Feb 2010 16:41:08 GMT

Client: An insurance and financial services provider with operations in more than 130 countries and jurisdictions.

Enterprise Risk Assessment and Management - Banking Industry Client Success Story

Wed, 24 Feb 2010 16:03:48 GMT

Client: A community bank that focuses on commercial and agricultural lending with assets of nearly $500 million.

VAT Tax Services

Wed, 24 Feb 2010 15:51:36 GMT

The trend toward globalization continues, and many companies are now either operating internationally or planning to at some time in the future. A considerable difference exists between the operational nature of the U.S. tax system and the Value Added Tax (VAT) system. Companies with operations outside the United States will benefit from a clear understanding of...

Transfer Pricing in 2009 - Three reasons to consider it carefully

Wed, 24 Feb 2010 15:36:08 GMT

Why worry about transfer pricing this year? Some executives might be surprised to learn that in 2009 transfer pricing will be a more powerful tool than ever before.

The Six Stages of European VAT Recovery

Wed, 24 Feb 2010 15:12:46 GMT

You may be able to substantially reduce your overall costs of doing business in Europe by recovering European Value Added Tax (VAT). If you have been applying VAT as a cost, recovering it, instead, can seem like a windfall profit. The VAT recovery process, however, can be extremely challenging, drawn-out, highly bureaucratic and...

Tax Outsourcing Client Success Story - Telecommunications Company

Wed, 24 Feb 2010 14:12:26 GMT

Client: Prior to its purchase, the company was a privately held, leading nationwide provider of fixed wireless broadband services to business customers.

Tax Accounting Services Professional Resourcing Client Success Story - Real Estate Company

Wed, 24 Feb 2010 11:37:32 GMT

Client: A publicly traded real estate services and money management company operating in approximately 100 markets in 35 countries.

Tax Accounting Services Client Success Story - Manufacturing Company

Wed, 24 Feb 2010 11:27:51 GMT

Client: A global high-tech manufacturing corporation

Tax Accounting Automation - TaxStream

Wed, 24 Feb 2010 11:21:22 GMT

Scrutiny of the corporate income tax provision process is high. And although, historically, many companies have relied on spreadsheet-based calculations, ongoing regulatory focus on the accuracy of tax provision reporting under Sarbanes-Oxley and FIN 48 is pushing many companies to third-party software packages such as TaxStream.

Tackling Transactional Taxes

Wed, 24 Feb 2010 11:10:20 GMT

From the outset, the Sarbanes-Oxley Act focused considerable attention on risk management of corporate income taxes ...

SEC Enhances Rules on Disclosure

Thu, 18 Feb 2010 16:42:05 GMT

February 18, 2010 ― In mid-December 2009, the Securities and Exchange Commission (SEC) made rule changes to how corporations, and specifically their boards, inform shareholders about the way they manage the risks of the business; the use of compensation consultants and any resultant potential conflicts of interest; and corporate governance in general. The following summarizes the key points of those changes.

Jefferson Wells Wins Three Prestigious Manpower Power Awards

Thu, 18 Feb 2010 15:21:00 GMT

February 17, 2010 – Jefferson Wells, a subsidiary of Manpower Inc., was presented with three prestigious Manpower Power Awards in recognition of outstanding performance across the Manpower group of companies in 2009. The honors were presented at the Jefferson Wells Annual Kickoff Event held Jan. 19, to the Florida, Carolinas and Denver offices.

Spreadsheet Controls and Remediation Client Success Story - Financial Company

Wed, 17 Feb 2010 16:17:17 GMT

Client: A financial-services company with over 11,000 employees and assets of $57.5 billion in March of 2007.

Keeping Cash King in a Down Economy

Wed, 17 Feb 2010 16:14:11 GMT

Working capital — the money needed to fund day-to-day business operations — is a primary indicator of a company’s financial health. A healthy cash flow enables companies to meet current and long-term financial obligations with reduced reliance on external funding.

Financial Operations Support Services Client Success Story - Entertainment Company

Wed, 17 Feb 2010 14:49:00 GMT

Client: A $250M film company and DVD distributor.

Financial Institution Services - Troubled Asset Relief Program (TARP)

Wed, 17 Feb 2010 14:45:37 GMT

Recent market events have rocked financial centers worldwide and the responses of the U.S. government and regulators have been swift and unprecedented: the Treasury’s implementation of the Troubled Asset Relief Program (TARP) and acquisition of preferred shares in troubled financial institutions (convertible to common stock), and continually changing regulatory and public expectations to name just a few.

Extensible Business Reporting Language (XBRL)

Wed, 17 Feb 2010 14:40:37 GMT

Today, we’re inundated with huge volumes of information. But how do we sort it out so we can make well-informed decisions? Company data is often scattered over a variety of information systems — even over disparate technology platforms.

Interim Solutions - FPI as a Cost-Effective Alternative to Software Solutions

Wed, 17 Feb 2010 14:35:17 GMT

Budget tightening continues in corporations worldwide. And it’s forcing companies to refine and enhance current processes — to seek alternative means to reduce costs. Often that means finding ways to delay or abandon expensive IT solutions.

Business Performance Management

Wed, 17 Feb 2010 14:21:23 GMT

The Business Performance Management (BPM) service offering utilizes management methodologies, metrics and technology to drive alignment of business activities to a company’s strategic objectives.

Account Reconciliation Client Success Story - Restaurant Company

Wed, 17 Feb 2010 14:15:43 GMT

Client: An international restaurant corporation with 1,400 restaurants and revenues of $4.0 billion in 2006.

Account Reconciliation Client Success Story - Energy Company

Wed, 17 Feb 2010 09:48:54 GMT

Client: A publicly traded diversified energy company with annual revenue of $9 billion

COBIT and IT Governance Client Success Story - Education

Wed, 17 Feb 2010 09:41:36 GMT

Client: A college textbook wholesaler/retailer with a corporate office/warehouse and approximately 250 retail locations throughout the U.S.

First Business Financial Services, Inc.

Fri, 14 Aug 2009 14:35:34 GMT

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