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Can Spam Douglas Havelka and Catherine S. Neal Uninvited e-mails cost businesses nearly $9 billion a year. While you can’t eliminate them entirely, here are ways to minimize them. For all CPAs.

Protect Retirement Assets Mark P. Altieri and Richard A. Naegele New bankruptcy legislation has clarified debtor and creditor rights. Here’s a review of the rules in federal bankruptcy proceedings, in state law garnishment and in attachment proceedings, where there is confusion. For CPA/financial planners who offer investment advice.

Personal Financial Planning
HOW TO PREVENT INVESTMENT ADVISER FRAUD
Brian Carroll
Under federal law investment advisers are fiduciaries and must disclose all potential conflicts of interest to clients. This article offers a practical approach to complying with these regulations. For CPAs who offer investment advisory services.

Compilations/Reviews
NEW FRAUD GUIDANCE
J. Russell Madray
The latest guidance on accounting and review services does not change the objectives in compilation or review engagements. But it does require CPAs to report to management any evidence of fraud or consequential illegal acts. Here are the details on what you need to know. For CPAs who perform compilations or reviews.

Financial Reporting
THE MD&A CHALLENGE
Donald H. Meiers
Many companies are beginning the difficult task of drafting the MD&A disclosure to accompany their 2006 annual report. They do so at a time when the SEC is increasingly critical of these disclosures. For CPAs involved in drafting or reviewing their company’s MD&A.

Accounting
CONVERGENCE: IN SEARCH OF THE BEST
Don Herrmann and Ian P.N. Hague
The FASB-IASB agreement to collaborate on converging American and international accounting standards is affecting the nature of U.S. GAAP. Here’s a look at how the two interact. For CPAs in public practice and in industry.

Technology Q&A
Stanley Zarowin
Move, copy, delete multiple files… Automatically open applications…Quickly delete spam files…Display underlying Excel formulas…Stamp date and time on documents…Excel shortcuts.

News Digest
Auditing…Financial Literacy…Government Accounting…International…Practice Management…FYI.

The Internet
Smart stops on the Web.

At a Glance: Charts and Graphics
Time waits for no job.
Wishful thinking.
Write it right.
What employers want.
Take the money and run.
401(k) as a given.
Tax pros in demand.
Most returns, but fewest audits.

Letters
Different standards for nonpublic companies?
SOX and nonissuing organizations.
Taxing LTC premium refunds.
A Social Security solution.
CBT too easy? Think again.

Top Line
News, people, trends and other noteworthy items.

Checklist
Tune up your clients’ benefit programs.

Tax Matters
Tax Case: Can trusts deduct adviser fees?
Tax Case: Reasonable shareholder-employee compensation.

From the Tax Adviser
IRS to outsource debt collection.

Inside AICPA
AICPA Governmental Audit Quality Center flourishes.
Farber earns top tax honors.
Winning women.
AICPA holds conference to help women professionals succeed.
Honorees admitted to B&I Hall of Fame.

The Last Word
A closer look at some of the intriguing, inspiring and imaginative folks who are the heart of the AICPA.

In This Issue