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A SLOW START
Tax season began in low gear, with the
Internal Revenue Service announcing that
some refunds might be delayed a week to
adjust for some new anti-fraud safeguards
it has installed. On the positive side, it offered some welcome news, including relief
on stock-basis reporting in Notice 2012-11,
and a proposed update to Rev. Proc. 2003-61,
2003-2 C.B. 296 that would expand innocent
spouse relief. It also released statistics about
audit patterns from last year, including notice
that millionaires were getting audited more.
Separately, both Mitt Romney and Newt
Gingrich released their tax returns as part of
their quest to be the Republican presidential nominee. Only Romney’s, though, was
blessed by a former IRS commissioner.
ACCOUNTANTS CONFIDENCE INDEX
In partnership with ADP®
Accounting Today’s
ACI: And one step back
Our Executive Research
Council started the New Year
in a glum mood, reversing
the generally upbeat trend
with which they ended 2011.
They foresaw contraction
for the U.S. economy as a
whole in both the short- and
the mid-term, and even predicted a short-term contraction for their small-business
clients for the ;rst time.
They remain, however,
positive about the prospects
of their own ;rms, expecting
growth over both the next
three and six months.
EDITOR-IN-CHIEF Bill Carlino
( william.carlino@sourcemedia.com)
Managing Editor Daniel Hood
Senior Editors Roger Russell,
Danielle Lee
Technology Editor Seth Fineberg
Ex. Director, Creative Services Sharon Pollack
Art Director Rommel Alama
Contributing Editors Ted Needleman;
Dave McClure;
Richard Stolz
Michael Cohn
Stacy Ferrara
60
3 month
6 month
Online Editor-in-Chief
Exec. Director of Mfg.
Director, Distribution &
Postal Affairs
Group Marketing Dir.
Editorial Director
Michael Candemeres
Ed Hanasik
John McCormick
54.33
53.82
50
52.91
51.18
Sept. Oct. Nov.
Dec. Jan. Feb.
Top 100 Firms Wip;i and Eide Bailly boost-
ed the ongoing trend of major mergers, announcing they would combine to create a
Midwest powerhouse by June. Meanwhile,
Warren, Averett, Kimbrough & Marino assembled a Southeast powerhouse with two
mergers. (See our apparently permanently
expanded M&A Watch section, page 30.)
INDEX COMPONENTS
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60
YOUR FIRM
60
SMALL BIZ
CLIENTS
60
MIDSIZED
CLIENTS
60
LARGE BIZ
CLIENTS
60
U.S. ECONOMY
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50
3 MOS. 6 MOS.
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3 MOS. 6 MOS.
50
3 MOS. 6 MOS.
50
3 MOS. 6 MOS.
50
;e Public Company Accounting Oversight
Board continued to prod o;cials in Washington for the power to make public its disciplinary proceedings against auditing ;rms
and auditors.
BUILDING LEADERS (OR NOT)
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FLEX TIME (51%)
STAFF PLANS
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MORE CHALLENGING ASSIGNMENTS (48%)
Big Four ;rm Ernst & Young elected Mark
Weinberger as the ;rm’s next global chairman and CEO, succeeding Jim Turley, who
will retire in June 2013. Weinberger, 50, was
assistant secretary of the U.S. Treasury for tax
policy under President George W. Bush.
REMOTE OFFICE / HOME SHORING (47%)
REPRINTS AND LIBRARY SERVICES
Material in Accounting Today may not be reproduced
without express written permission.
Article reprints: Godfrey R. Livermore,
Director of Reprints & Alternative Media Sales
Tel: (888) 909-6366 Fax: (212) 803-1577
MENTORING (38%)
; ;; ;; ;; ;; ;;;
NON-PARTNER
PROFESSIONALS
INCLUSION IN
STRATEGIC PLANNING (25%)
;e American Institute of CPAs began of-
fering a revenue-sharing arrangement to
state CPA societies if they help market the
new Chartered Global Management Accountant designation to their members.
Douglas J. Manoni
Rebecca Knoop
NONE (23%)
Karl Elken
LEADERSHIP
TRAINING (22%)
; ;; ;; ;; ;;
NON-PROFESSIONAL
STAFF
Canada’s three accounting bodies — the
Canadian Institute of Chartered Accountants,
the Certi;ed Management Accountants of
Canada, and the Certi;ed General Accountants of Canada — presented a proposed
framework to their members for uniting Canada’s accounting profession. ;e framework
calls for a designation known as the Chartered Professional Accountant, or CPA.
0 10 20 30
GREATER CHOICE
OF ASSIGNMENTS (21%)
Bruce Morris
David Longobardi
Adam Reinebach
John DelMauro
40
50
60
;
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All responses from a January 2012 survey of the
Accounting Today Executive Research Council, an
online panel of over 1,500 accounting professionals.
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