The SEC has barred two Massachusetts CPAs from practice for failing to detect millions of dollars in fraudulent revenue reported by an online search service even though they were warned of issues. William W. Wood, Jr. and Kevin Howley drew the action and their firm Livingston & Haynes, was censured for issuing unqualified opinions regarding the 2005 and 2006 financial statements of Locate Plus whose former CEO and CFO generated revenue via a sham client company.

Build Your Firm has launched "Mastery Selling Skills for Accountants," a training program designed for accountants who want to improve their selling and closing skills. The program was developed by Allan Ratafia, president of Build Your Firm and owner of Ratafia & Co., CPAs. Read more...

PARSIPPANY, N.J. - After reaching agreement with its lenders, Jackson Hewitt Tax Service has filed for Chapter 11 protection in what was termed a pre-packaged bankruptcy. The company expects a restructuring plan to be implemented within 45 to 60 days. It will continue its usual operations, including preparation for the 2012 tax season and it expects no disruptions. The plan would privatize the company.