MERGERS AND
ACQUISITIONS
CBIZ acquires payroll firm
Kreston International US member CBIZ has acquired
Computer Payroll Company (CPC), a payroll processing company
located in Palm Desert, California. CPC recorded revenue of $2.5
million during the past 12 months and has 18 employees. CBIZ
chairman and chief executive Steven Gerard said the acquisition
gives the firm “greater national processing flexibility and system
back-up with operations on the West Coast to complement our
Roanoke, Virginia facility. It provides an additional operating
base to support the continued growth of our payroll business and an
opportunity to diversify our client portfolio geographically.”
EDUCATION
IAESB issues new guidance
The International Accounting Education Standards Board (IAESB) has
released new guidance aimed at assisting International Federation
of Accountants member organisations to establish effective
practical experience programmes. The guidance is contained in
International Education Practice Statement 3 Practical Experience
Requirements – Initial Professional Development for Professional
Accountants.
PEOPLE
E&Y recruits tax expert
Deborah Nolan has joined Ernst & Young US (E&Y) as a
partner in the tax controversy and risk management services group
within the firm’s national tax department. Nolan was previously the
commissioner of the large and mid-sized business division at the
Internal Revenue Service (IRS). In her new role at E&Y, Nolan
will help global and domestic corporations focus on working more
effectively with the IRS and regulators around the world to reduce
tax risk and increase tax certainty.
STANDARDS
Three more ISAs released
The International Auditing and Assurance Standards Board (IAASB)
has issued three final International Standards on Auditing (ISA).
The standards form part of the IAASB’s 18-month Clarity Project.
The three new standards are ISA 230 Audit Documentation, ISA 260
Communication with Those Charged with Governance and ISA 720 The
Auditor’s Responsibility in Relation to Other Information in
Documents Containing Audited Financial Statements. The complete set
of clarified ISA is effective on or after 15 December
2009.
