Compliance
CHOOSE THE RIGHT TOOLS FOR INTERNAL CONTROL REPORTING
Bruce I. Winters
New federal regulations require public companies to assess the effectiveness of their internal control structure and financial reporting procedures. Complex software is essential to such analysis. Here’s how to determine what kind is needed and how it should link to—or replace—a company’s existing systems.

Professional Issues
SARBANES-OXLEY: WHAT IT MEANS TO THE MARKETPLACE
Harvey Coustan, Linda M. Leinicke, W. Max Rexroad and Joyce A. Ostrosky
Ten accounting professionals from corporate management, public practice, NASBA and the AICPA offer their opinions on what impact the Sarbanes-Oxley Act of 2002 will have on the business environment.

Financial Reporting
UNCLAIMED PROPERTY
Anthony L. Andreoli and Josiah S. Osibodu
As states pay closer attention to unclaimed property issues, CPAs need to help companies comply with applicable laws and properly reflect these funds on their financial statements. This article explains how.

Practice Management/Litigation Issues
TO COMPETE OR NONCOMPETE
Thomas E. Vermeer and Vernon W. Johnson III
Every firm risks having departing employees take clients of the firm away with them. This article explains reasons for using a noncompete agreement, key issues to consider when adopting or revising one, some common damage provisions and what a firm can do to obtain an enforceable noncompete contract.

Technology Workshop
FERRET OUT SPREADSHEET ERRORS
Mark G. Simkin
Even well-structured spreadsheets can mask a host of input errors, formula mistakes and other problems. There are techniques, with the help of Excel tools, to find the slips so you can correct them.

Technology
TECHNOLOGY Q&A
Stanley Zarowin
Connect two computers to a single screen, keyboard and mouse…Yes, you can sort rows in Excel…Browser saves passwords without a prompt…The power of Scroll Lock...Prepare for the next-generation computer…Easy way to record error messages…A quick way to capitalize and uncapitalize…Shortcuts.

The Fraud Beat
NEW APPROACHES TO FRAUD DETERRENCE
Joseph T. Wells
The author presents his ideas, based on observations in a long and distinguished career, about the changes necessary for auditors to meet the public’s expectations in fraud detection and prevention.

Insurance Issues
THE FINAL SPLIT-DOLLAR REGULATIONS
Margaret Gallagher Thompson
After more than a year of delay, the Treasury Department issued final regulations for all split-dollar arrangements entered into or materially modified after September 17, 2003. What the regulations do and do not say can have significant consequences for executives who have this benefit.

NEWS

Professional Issues
PILOT TEST REVEALS DRAMATIC CHANGES
In this sixth of a series of JofA articles about the new, computerized CPA exam, CPA candidates who volunteered to take the test give their views on how it compares with the paper-based version.

Special Report
SUPPORT FOR CPAs IN POST-DISASTER WORK
Disaster Recovery: A Guide to Financial Issues has proved to be invaluable to CPAs and others who help disaster victims as they rebuild their lives and their homes. The guidance focuses on the aftermath of the disaster but also addresses long-term planning, including suggestions on how to prepare financially for any eventuality.