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June 2010
Marketers Get Their Due at AAM Conference
From WebCPAIf there’s one thing I learned from attending the Association for Accounting Marketing Summit this year, it’s that marketers don’t have an easy job.And that the AAM-MAAs, the association’s Marketing Achievement Awards — despite their focus on accounting marketing...
read moreJune 2010
Internal auditors must surpass Sarbanes-Oxley
From CFOZone.com.Since the Sarbanes-Oxley legislation first came into effect seven years ago, much has changed in the US corporate landscape. At first, the new laws appeared onerous—time consuming and perhaps just a little bit of overkill. Since then, the global...
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G20 stands by international standards
From Accountancy Age.Toronto summit backs international standards but eases pressure on timetable. The G20 group of countries has once again given its support for international accounting standards as it gathered for its latest meeting in Toronto at the weekend.A communique...
read moreJune 2010
Savings rate grows faster than consumer spending
From The Washington Post.Americans socked away more savings in May than at any time since September, as they continued to be cautious spenders, according to government data released Monday.According to the Commerce Department, the personal savings rate in May --...
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McNally Article, "Forget Your Pay," Published in Manufacturing Today
Pat McNally, Partner in Charge of Blackman's Corporate Finance Consulting group, was recently published in the Summer 2010 issue of Manufacturing Today. His article, "Forget Your Pay! Create Value in Your Business," advises business owners that "Your business is not just...
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Blumenthal Interviewed by Illinois Venture Capital Association
CHICAGO – On June 24th, the IVCA presented a Breakfast Event, with a presentation by Mark J. Blumenthal of Blackman Kallick, LLP. Mr. Blumenthal is a CPA and Partner at Blackman Kallick in Chicago. He is Chairman of Blackman's Family...
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More Shareholder Say on Auditors
From CFO.com.An unrelated regulation has prompted more companies to give their investors a vote on accounting firms.Shareholders have weighed in on companies' choices for outside accounting firms in higher numbers this year. The uptick comes after a Securities and Exchange...
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IRS Offers Tax Help to Oil Spill Victims
From WebCPA.The Internal Revenue Service has issued guidance to individuals and businesses affected by the oil spill in the Gulf of Mexico and announced new efforts to help affected taxpayers, including a special Gulf Coast Assistance Day on July 17.“This...
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House Passes Small Business Tax Relief Bill
From WebCPA.com.The House approved the Small Business Jobs Tax Relief Act of 2010 on Tuesday by a bipartisan majority of 247-170.The legislation would provide tax cuts for small businesses to help them grow and create new jobs. H.R. 5486 is...
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Metra Selects Blackman Kallick to Perform Risk Assessment and Financial Control Study
From Metrarail.com.The Metra Board of Directors at its June 11 meeting hired the accounting firm of Blackman Kallick to undertake an independent risk assessment and to provide advice to the board on governance, financial controls and oversight.Blackman Kallick will assess...
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Governance Check Sheet Required for Audits of Exempt Organizations
Not-for-Profit partner, Brian Whitlock, recently spoke at the Chicago-Kent College of Law Conference on Not-for-Profit Organizations. (Click here to download the conference brochure.)During the conference, Fred Kluss, Group Manager, Tax Exempt/Government Entities for the IRS stated that IRS agents are...
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Blackman Sponsors Chicago Cares 2010 Serve-a-thon
Over seventy Blackman Kallick volunteers came out on Saturday, June 12, 2010 to participate in the 17th Annual Chicago Cares Serve-a-thon. Blackman has been a proud sponsor of this event for over five years.The Blackman Kallick team, with other volunteers,...
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HLB International moves into Norway and signs two new Norwegian member firms
PRESS RELEASE - For immediate releaseMonday, 14 June 2010HLB INTERNATIONAL MOVES INTO NORWAY AND SIGNS TWO NEW NORWEGIAN MEMBER FIRMSHLB International, one of the fastest-growing international accountancy networks, has increased its presence in Scandinavia and moved into Norway, with the...
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The Big Tax Increase Facing Small Business
From Forbes.com.Hedge fund taxes get all the attention. Congress is about to raise billions in taxes on some doctors, accountants and architects.While a possible increase in taxes on the "carried interest" of hedge fund and private equity money managers is...
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IRS Issues Regulations on New Indoor Tanning Tax
From Journal of Accountancy.On Friday, the IRS issued final, temporary and proposed regulations to provide guidance on the new 10% indoor tanning services excise tax (TD 9486; REG-112841-10).The Patient Protection and Affordable Care Act (PL 111-148) created a new 10%...
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Metra Hires Blackman Kallick to Assess Internal Controls and Management Practices
Blackman Kallick's Forensic & Litigation Practice has been hired by Metra to investigate and assess their internal controls and operating procedures following a financial scandal that resulted in the suicide of former Executive Director Phil Pagano. Below is an excerpt...
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Blackman Hosts Not-for-Profit Client Workshop
On Tuesday, May 25, Blackman Kallick hosted the first in a series of Not-for-Profit Client Breakfast Workshops designed to provide in-depth, hands-on assistance with pressing accounting issues facing not-for-profit organizations. Topics covered were: Fair Value Measurements and Disclosures for Entities...
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Keeping the Best & Brightest: A Focus on Women in the Profession
From AICPA.org.In 1950, when a woman applied for a job, she had to include her height and weight on her resume. Since then, women in the CPA profession – and in the workforce as a whole – have made great...
read moreJune 2010
Keeping Fraud in the Cross Hairs
From Journal of Accountancy.Report highlights common, costly schemes and makes prevention the target.Five percent of annual revenue—that’s the estimate of how much money the typical organization loses to fraud, according to participants in the 2010 Report to the Nations on...
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Chicago Blackhawks Win the Stanley Cup!
Congratulations to our very own Chicago Blackhawks on their victory over the Philadelphia Flyers to clinch the 2010 Stanley Cup! This is the Hawk's first championship since 1961.Chicago Blackhawks ParadeCome cheer on your champion Blackhawks at the 2010 parade taking...
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Cain Quoted in The Wall Street Journal Article, "Recession brings tough love to family firms"
Barry Cain, former Managing Director of Blackman Kallick's Strategic Services group, is quoted in "Recession brings tough love to family firms," an article recently published in The Wall Street Journal. Below is an excerpt from the article."What we are seeing...
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Learning by Degrees
From The New Yorker."The safest of all degrees to be acquiring this year is in accounting: forty-six per cent of graduates in that discipline have already been offered jobs."A member of the Class of 2010—who this season dons synthetic cap...
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Fraud Skims 5 Percent off Revenue Worldwide
From WebCPA.Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, potentially amounting to over $2.9 trillion, according to a new study.The study by the Association of Certified Fraud Examiners surveyed CFEs globally as part of a...
read moreJune 2010
AICPA Submits Comments on IRS Uncertain Tax Position Proposal
From Journal of Accountancy.On June 1, the AICPA submitted comments to the IRS on the Service’s proposal to require certain business taxpayers to disclose their uncertain tax positions on their tax returns. The comments raise concerns the AICPA has with...
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Changes to German tax law affects individuals and businesses
The German government has recently published its draft version of the proposed changes of German tax law in 2010 [Annual Tax Bill 2010 – Jahressteuergesetz 2010 (JStG 2010)].Most of the changes will affect German individual taxpayers, only. However, a few...
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Global Economic Updates & Strategy Presentations and International Ask The Experts “Market Place”
Part of the HLB International Audit and Tax Conference.View photos from this event.Thursday, July 8, 20102:00 p.m. - 4:30 p.m.Sofitel Chicago Water Tower – Grand Ballroom20 E. Chestnut Street, ChicagoDuring the Presentations and Panel Discussion portion of the event, four...
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