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Business and Industry
CPAs AS AUDIT COMMITTEE MEMBERS
Stephen A. Scarpati
The implementation of the Sarbanes-Oxley Act of 2002 means more corporate boards of directors will seek CPAs to serve on their audit committees. Here are the factors CPAs should consider to make sure the opportunity is a good one for them and the company.

Technology/Business and Industry
A STRATEGY FOR FINDING THE RIGHT ACCOUNTING SOFTWARE
Randolph P. Johnston
Selecting and installing accounting software for your client or company could be one of the most challenging tasks of your career. The product must exactly fit the organization’s needs. This article guides you through the search and evaluation process.

Auditing/Internal Controls
HOW SARBANES-OXLEY WILL CHANGE THE AUDIT PROCESS
Donald K. McConnell Jr. and George Y. Banks
The new rules will have a significant impact on how CPAs audit public companies. One factor that will bring about considerable change is the requirement that the auditor report on management’s written assertion about the effectiveness of its internal controls.

Practice Management/Succession Planning
HAVE A FALLBACK PLAN
Rick Telberg
Sole practitioner CPAs should have a practice continuation plan in place to cover clients and safeguard the value of the firm if circumstances prevent their working for a few months or push them into early retirement. Here’s how to protect what you’ve worked hard to build.

Practice Management
TO YOUR HEALTH
Heather Johnson-Moreno
Long, stressful hours during the tax
season can be bad for your health. CPAs can take simple steps now—both at home and at work—to institute eating and exercise habits that will ease the pressure and make staying fit throughout busy season an attainable goal.

The Fraud Beat
SHERLOCK HOLMES, CPA, PART 2
Joseph T. Wells
The final step in establishing fraud and identifying the perpetrator involves interviewing employees—some connected to the crime, some not—in an ever contracting circle that leads to a confrontation with the suspect.

Special Report—Professional Issues
COMPUTERIZED CPA EXAMINATION ONLY MONTHS AWAY
Following the November administration of the test, the paper-based version of the CPA examination will pass into history. Succeeding it after years of preparation is a computerized examination that will be given for the first time on April 5, 2004. A series of questions and answers provides important information on this change and how to prepare for it.

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

The Internet
Smart stops on the Web.

At a Glance: Charts and Graphics
Starting pay rises for new accountants.
Management’s top concerns.
For richer, for poorer—but mostly poorer.
More deductions, higher cost.
Small income, big tax.

Letters
Business aircraft and depreciation.
CPAs and incidental investment advice.
Finds DCA strategy lacking.
Maintaining independence.
On U.S. health care.

Checklist
Sarbanes-Oxley software: Ten questions to ask.

Tax Matters
Tax Case: IRC section 1341—a reversal.
Tax Case: Bonuses and accumulated earnings prove troublesome.

From the Tax Adviser
The section 412(i) retirement alternative.

Technology Q&A
Many ways to sum a column in Excel…How to flip the order of data in an Excel table…Get Word to print single-character fractions…How to conceal and display hidden text…Adjust the design of the application toolbar.

Golden Business Ideas
Practical ideas for improving your business.

In This Issue