The Statement
The Statement

The Statement: March / April 2002

 

Rough times remain for Maryland, but signs say the economy will quickly improve
First, the bad news: This recession we keep hearing about? Its effects probably will linger a little while longer. Now the good news: The economy will get better, and soon.
Region by region, economy affects Maryland and its CPAs
CPAs throughout Maryland are feeling the effects of a recession that is touching all regions of the state to varying degrees.
After 30 years, the song remains the same for Naden and his band
What do you get when you cross a CPA with a lawyer? If you didn't answer "trumpet man," you haven't met Paul Naden.
State Tax Committee meets with Comptroller of Maryland Compliance Division
The MACPA State Tax Committee held its annual liaison meeting with the comptroller of Maryland Compliance Division on Sept. 20, 2001.
XBRL: First U.S. exchange of financial information signals good news for businesses
By using XML — a kind of electronic translator that helps software applications talk to each other — XBRL describes the financial information in business reports and databases.
New audit standards
A summary of SAS No. 95, Generally Accepted Auditing Standards, and SAS No. 96, Audit Documentation.
SAS 82 outlines risk factors associated with management fraud
Given the economic impact of such "wild card" events as Enron and Sept. 11, it is critical that CPAs stay focused on the basics and carefully evaluate risks.