News

The Tax & Accounting business turned in a good performance for Thomson Reuters for 2013. The operation showed a 9-percent increase in revenue over 2012 results with both the Corporate and Professional segments showing double-digit increases in sales that were offset by a 33-percent drop in government revenue.

The SEC has temporarily suspended an Aurora, Colo.-based accountant whose actions as an auditor resulted in a federal court enjoining him from violating securities laws. The SEC took the action against Lawrence O'Donnell, whose operated the firm Larry O'Donnell CPA. O'Donnell drew court action for his alleged actions in signing off on the financial statements of Imperiali from 2006 through 2009 that assigned millions of dollars in values to what were said to be worthless assets.

The Internet and mobile technologies have dramatically reshaped how Automatic Data Processing sells its services and delivers them. More than 70 percent of new sales involved web-based product delivery and the company's representatives have switched to mobile product demonstrations, according to CEO Carlos Rodriquez.

KPMG has been ordered to pay the United Sates $8,226,349 dollars for violating auditor independence rules. The Big Four accounting firm this week was assessed that amount and censured and ordered to cease and desist from committing any other such infractions that the SEC said had occurred from 2007 through 2011.