SUCCESSFUL SUCCESSIONS P. 8
One crucial step in managing a ;rm handover is
making sure you have someone to hand it over to
INVESTING ABROAD P. 22
The smart money is heading overseas — here’s
what your clients need to know to follow it

accountingtoday.com

WARMING TO THE CLOUD P. 24
Slowly but surely, ;rms are beginning to see
the value of Software-as-a-Service

Inching
closer?

Profession reacts to private standards panel’s proposals

BY BILL CARLINO AND MIKE COHN / NORWALK, CONN.

Will the creation of a separate board and a di;erential framework ultimately steer the 30-plus-year debate over the creation of private company reporting standards toward a resolution?

;e Blue Ribbon Panel on Standard-Setting for Private Companies, the 18-member group organized in 2009 by the American Institute of CPAs, the Financial Accounting Foundation and the National Association of State Boards of Accountancy, recently issued its long-awaited recommendations on private company standards, including establishing a new board to oversee and determine private standards, as well as creating a di;erential framework — a set of decision criteria — to facilitate a standard-setter’s ability to make appropriate, justi;able exceptions and modi;cations.

“I think the recommendations clearly expressed the opinions of the members of the panel, including those who presented alternative views,” said Judy O’Dell, principal of O’Dell Valuation Con-

See PANEL on 36

BLUEPRINT FOR THE FUTURE INTEGRATING ITS TECH AND TRADITIONAL SERVICES, AND A FOCUS ON TRAINING, KEEP SINGERLEWAK MOVING AHEAD See page 10

Tax Season Update

Coming to the crunch

Preparers cite snags in PTIN registration, e-;ling, late changes

;e 2011 tax season has picked

up steam after a slow start.

But as it heads toward the midpoint, however, it has presented its share of problems for most preparers.

“This has not been a smooth filing season up till now,” said Beanna Whitlock, a San Antonio-based preparer and former director of public liaison for the Internal Revenue Service. “;ere were tax law changes on top of the PTIN registration issue, on top of mandatory e-;ling,” she said.

See TAX SEASON on 35

BY ROGER RUSSELL

Mobile devices are top tech initiative for 2011

;e increased use of mobile de-
vices in the workplace has emerged
as the top business technology for
CPAs and financial executives,
according to the 2011 Top Tech-
nology Initiatives Survey by the
American Institute of CPAs.
BY SETH FINEBERG

Just behind mobile devices, information security and data retention policies and structure ranked Nos. 2 and No. 3, respectively, as top business technologies in 2011, while remote access and sta; and management training rounded out the top ;ve.

“Everyone wants to look at how
[CPA firms] can enhance profit.
[Mobile devices and related tech-
nologies] are an expense-reduc-
tion and revenue-generator,” said
Joel Lanz, co-chairman of the
AICPA’s Top Technology Initia-
tives Task Force, which produces
the annual survey. “Clients look to
us for the guidance on how they
can deploy this in a secure way
and in a way to do what they do
better. CPAs can provide a unique
perspective, if ;rms take the time
to understand the issues.”
The 22nd Annual AICPA Top
Technology Initiatives survey
was conducted in January and the
results were based on responses
from nearly 1,400 CPAs nation-
wide who specialize in informa-
tion technology.

... and beyond

Mobile app downloads, in billions

GAME-CHANGER

Mobile devices are receiving more attention as advancements in technology shift productivity tools from desktops to pockets amid increasing reliance on mo-