News

A former Scottsdale, Ariz., CPA had been sentenced to 35 years in prison for bilking six clients, including a childhood friend, out of nearly $1 million. Danny Wise was sentenced this month after being found guilty in October of eight counts of fraud and 22 counts of theft for keeping clients federal tax payments instead of transferring them to the Internal Revenue Service.

Thomson Reuters has made a major change to its leadership with the replacement of presidents of three business units. Thomson name new heads of its Legal, Intellectual Property & Science; and Global Growth & Operations businesses with the current occupants leaving the company effective January 1.

The Public Company Accounting Oversight Board has reproposed amendments to PCAOB auditing standards for public comment, which would require disclosing the names of engagement partners who led the most recent audit of a company. The changes would also require dislcosing the locations and extent of participation of other firms and individuals who took part in the audits.

Sage has launched the Accountants Business Cloud in the United Kingdom, an information and resource site that is likely to be introduced in the United States. There are resources for marketing and news about compliance and legislation in the British version.