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Accounting News Roundup: Tweedie Warns of Global Accounting Rules ‘Last Chance’; Security Tops Misconceptions About Cloud; Clifton Gunderson Acquires Fifth Firm Since May | 10.29.10

Accounting chief says last chance for global system [Reuters]
Efforts to create a single global accounting system will be set back a generation if they do not succeed within 12 to 15 months, the chairman of a global accounting rule-setting board said on Thursday.

“This is our last chance really,” said Sir David Tweedie, chairman of the International Accounting Standards Board, which sets accounting rules used in over 100 countries.

“The next year is critical, this is it,” he told a New York Society of Security Analysts conference. “We can’t kick this tin down the road much longer.”

Cloud misconceptions: security tops the list [AccMan]
This is an important finding because it lends credence to the notion that once adopters have tasted what the cloud offers, then many of the issues raised by naysayers start to evaporate.

As accounting industry shifts, Reznick Group beefs up staff [Baltimore Business Journal]
Twelve positions in the Baltimore area now available.

Time for a New Set of Return Deadlines? [Tax Update Blog]
Joe Kristan thinks moving the partnership deadline up to 3/15 makes sense.

Clifton Gunderson acquires Rockford, Ill., accounting firm [MJS]
Farrell & Associates becomes the latest to join the CG stable.

Verizon to pay $25 million settlement for overcharging [Reuters]
The top U.S. mobile service, Verizon Wireless, has agreed to pay the U.S. Treasury $25 million on top of more than $52 million in refunds to consumers for overcharging them, the U.S. regulator said.

The venture of Verizon Communications Inc and Vodafone Group Plc said earlier this month it would pay refunds to 15 million cellphone customers erroneously charged for mobile Internet use.

Posted in ANR