A.E. Feldman Blog

General Growth Properties Inc. recently filed the biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt during an acquisition spree, according to Bloomberg. The report states the owner of Boston’s Faneuil Hall and the South Street Seaport in New York City has ended its seven-month effort to refinance its debt. The [...]

The recession may lead to a surge in e-crime. Recent research conducted by KPMG shows that fraud committed by managers, employees, and customers tripled last year compared to the year before. KPMG also found that companies foresee an increase in the number of employees and IT professionals who are willing to steal data or sell [...]

With tax season behind them, many CPA firms are taking a step back, evaluating their state of business…and upgrading talent. The war for talent will not be quelled by the economic downturn – especially in the accounting industry. Attracting the best employees to support the company’s growth remains the top internal concern for Finance Chiefs, [...]

A growing number of corporate executives view VAT and goods and services taxes as the top tax risk for global finance directors. That’s according to new research conducted by Tax management software provider Sabrix. That’s not surprising since indirect taxes ? such as value added taxes, sales taxes, custom duties and excise ? can represent [...]

Intel has been hit with a request from Denmark for $651 million in back taxes and related interest, reports Barron’s citing the Danish news site Politkien. According to the story, the case by Denmark’s Tax Authority involves transfer pricing, the under-pricing of exports between affiliated companies in different countries in order to transfer profits out [...]

Forensic services have become one of the fastest-growing practice niches among CPA firms. Accountants are in constant demand as expert witnesses and in other litigation support capacities. Now as the economy plummets, forensic accounting remains one field that is expected to grow.
Exacerbated by the credit crisis and economic slowdown, accounting jobs in the fields of [...]

The financial crisis and global recession will result in a significant increase in white collar crime as well as significant changes in how fraudsters operate this year, according to a recent Kroll Global Fraud Report. Kroll says it predicts a surge in full-scale fraud investigations involving legal disputes, regulatory action and prosecution in 2009. Whistleblowing [...]

The recession is creating a slew of challenges for internal audit (IA) departments. In fact, the 2009 PricewaterhouseCoopers State of the Internal Audit Profession study concludes IA professionals are being forced to grapple with a number of significant issues. Moreover, the report contends that with company revenue growth declining and expenses subject to greater scrutiny [...]