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.