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Accounting News Roundup: Accounting Outsourcing Set to Grow; More on CPA Scores; Man Charged with Wife’s Murder After IRS Visit | 03.23.11

Finance and Accounting Outsourcing to Grow 15-20% [AT]
The finance and accounting outsourcing market is expected to grow 15 to 20 percent this year and top $4 billion in annual contract value. A new report by the Everest Group found that annual contract value for multi-process finance and accounting outsourcing grew almost 15 percent last year and 10 percent in 2009. The total contract values of new engagements reached a market high last year of nearly $5 billion, according to the study by the research and advisory firm.

Fair Value, Comprehensive Income Rules Due Q2 [Compliance Week]
The Financial Accounting Standards Board will soon issue final standards on fair value measurement and the statement of comprehensive income, with delivery expected early in the second quarter, said Chairman Leslie Seidman. The fair value measurement standard produces more significant change for International Financial Reporting Standards than for U.S. Generally Accepted Accounting Principles, said Seidman. The United States made a significant overhaul in fair value measurement when it issued Financial Accounting Statement No. 157 Fair Value Measurement in 2006. The new standard will not require any new uses of fair value but it produces some clarity and consistency in how it is measured across U.S. and international rules.

Judge Rakoff Indicts No-Fault Securities Settlement Syndrome [Forbes]
He doesn’t much care for the SEC allowing violators to pay a fine and simply “neither admit or deny the charges.”

Thank God, CPA Exam Scores are Finally on Their Way [JDA]
Some interesting Google searches led to Adrienne’s website.

Howard Stern’s Agent Sues Sirius XM Radio Over Stock [WSJ]
In a lawsuit filed in New York State Supreme Court, Mr. Stern’s production company, One Twelve Inc., and his agent Don Buchwald, alleged that Mr. Stern enabled Sirius to surpass its internal subscriber targets by more than 2 million subscribers every year since he went on air since 2006.

Man charged with killing wife after IRS visit [Boston Herald]
A man was charged with murdering his wife in Webster, an attack that apparently happened less than an hour after two Internal Revenue Service agents arrived to seize the family’s vehicle for nonpayment of taxes, authorities said.

Posted in ANR