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Auditing
A PRIMER FOR BRAINSTORMING FRAUD RISKS
Mark S. Beasley and J. Gregory Jenkins
Auditors must incorporate “think tank” sessions to consider fraud risks in the planning stages of their audits and are encouraged to hold them periodically throughout the process. They can use several techniques to ensure a successful outcome.

Business Valuation
THE ABV CREDENTIAL: LEADING THE WAY
Neil J. Beaton and Michael J. Mard
Credentialing has always been an essential way for professionals to distinguish themselves and highlight their qualifications in a particular field. This article focuses on the Accredited in Business Valuation (ABV) credential, administered by the AICPA, and describes its charter, underpinnings and evolution as the accounting profession faces new challenges.

Consulting/Practice Development
NICHE DEVELOPMENT TIPS
Michael Hayes
After you’ve read the above article on the ABV credential and business valuation niche, read about CPAs with other specialized expertise who share some of the savvy that has helped them go from having one or two clients in a business sector to a fully developed service niche.

Education/Professional Issues
JUMP-STARTING FINANCIAL LITERACY
Stanley H. Breitbard
By volunteering with the Jump$tart Coalition and organizations like it, CPAs have an opportunity to use their skills to help improve the financial literacy of Americans young and old.

Technology Workshop
BOOST PROFITS WITH EXCEL
James A. Weisel
Solver, a spreadsheet tool, can perform capacity-utilization analyses—calculating the results of a variety of production volume and sales revenue mixes to help a company maximize profits.

Tax Practice Management/Ethics
TAX-PLANNING SERVICES FOR CLIENTS OR EMPLOYERS
Edward Karl
The AICPA tax division has issued an interpretation—“Tax Planning”—designed to explain the obligations of members who provide these services. It should be helpful to members in providing all types of tax-planning services, including those involving tax shelters.

The Fraud Beat
RULES FOR THE WRITTEN RECORD
Joseph T. Wells
Fraud reports differ significantly from audit reports. The goals, the audience and, very important, the writing are not the same. Here’s guidance from one of the foremost fraud investigators on how to create a document that will stand up in court, if necessary.

Professional Issues
THE NEW CPA EXAM—MEETING TODAY'S CHALLENGES
David A. Costello, president and CEO of the National Association of State Boards of Accountancy, explains the computerized exam’s innovations and the advantages they offer candidates and business.

Special Report
ONE ON ONE: THE PCAOB CHAIRMAN AND THE JofA
PCAOB Chairman William McDonough talks about accountability, the inspection program aimed at auditors of financial statements and the board’s expectations of corporate management.

News Digest
Accounting…Auditing…Government Accounting…International…FYI.

The Internet
Smart stops on the Web.

At a Glance: Charts and Graphics
Execs feeling less ambitious.
The well-rounded CFO.
What a relief!

Checklist
Tips to track deliveries.

For the Practicing Auditor
AICPA issues nonattest services independence rules.

Tax Matters
Tax Case: Deducting compensation paid with property.

From the Tax Adviser
Royalties or wages?

Technology Q&A
Pick from a multiple-choice list…How to print a watermark…Use Outlook’s contacts to address and format letters…A fast way to add boilerplate to a document…Sound alarm when Caps Lock key is on…Get Excel to speak to you…Add a comment to a spreadsheet cell…A better way.

Inside AICPA
Faster CPE results.
AICPA updates summary of state reform issues.
Institute proposes taxpayer advocacy improvements.
Institute names Becton chief press officer.
AICPA urges end to abusive tax shelters.
Institute supports women in business.
AICPA software gives CPAs career edge.
CPAs helping one another.
Chicago candidate tops field on CPA exam.

12-Month Index
JofA articles by author and subject.

Golden Business Ideas
Practical ideas for improving your business.

In This Issue