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SmartPros Accounting Homepage IN THE NEWS: Chesapeake May Have Big Undisclosed Liability Chesapeake Energy Corp., already facing a Securities and Exchange Commission inquiry for loans its chief executive made against company assets, may also be carrying $1.4 billion in undisclosed liability. NEW CPE FROM FMN ONLINE: SEC's Enforcement Agenda: Trends and Top Concerns An essential part of regulating the capital markets in general, and the stock market in particular, involves vigorous enforcement of securities laws. Marta Alfonso, a principal at the accounting firm of MBAF, examines the recent compliance trends, as well as the top concerns of SEC regulators, in connection with financial statement and accounting fraud. Take this class    SmartPros:  SmartPros® Reports First Quarter 2012 Financial Results Investor Relations Weekly Newsletter Newsletter Subscriptions Online CPE Catalog

Inside SmartPros: This Week in the SmartPros News & Insights Newsletter Details of Romney's Economic and Jobs Plan Keep Evolving ...Op/Ed: What Do Americans Really Want? ... CPE: Employee Benefit Plan Audits: Changing Rules and Requirements ...Book Pick: Debacle: Obama's War on Jobs and Growth and What We Can Do Now to Regain Our Future

News & Insights

Yahoo CEO Scott Thompson Stepping Down Yahoo's Scott Thompson is out as CEO of the Sunnyvale Internet company after a furor resulting from a false degree on his company biography. SEC Chief Says Regulators "Focused" on JPMorgan The head of the Securities and Exchange Commission says the agency is focused on a surprise $2 billion trading loss by JPMorgan Chase. Did Deal with Amazon Violate State Law? Texas Comptroller Susan Combs' settlement with Amazon.com hailed by the company's allies and rivals alike is an unprecedented solution to a vexing standoff. SEC: Company Paid for Kilpatrick Trips Federal regulators say former Detroit Mayor Kwame Kilpatrick took lavish trips paid by a company managing real estate for the city Police and Fire Pension Fund. Chesapeake May Have Big Undisclosed Liability Chesapeake Energy Corp., already facing a Securities and Exchange Commission inquiry for loans its chief executive made against company assets, may also be carrying $1.4 billion in undisclosed liability. SEC Charges 11 in 2 Stock-Selling Cases The Securities and Exchange Commission on Wednesday filed civil suits against 11 people allegedly involved in two separate schemes to illegally sell stock, including one that took advantage of the dire situation in Haiti following the 2010 earthquake. Settlements totaling $3.2 million have been reached with six of the defendants, who neither admitted not denied the SEC's allegations. SEC Sues Two Figures in CalPERS Bribery Scandal The U.S. government sued the two key figures in the CalPERS bribery scandal, targeting the pension fund's former chief executive and a businessman who earned millions in finder's fees from CalPERS investment deals. Voters Decide Auditor in Reading, PA, Must Be CPA Voters in Reading, PA, overwhelmingly approved a charter change to require that the elected city auditor is a certified public accountant with five years experience in a related field. Supreme Court Says IRS has 3 years in Tax Shelter Case The Supreme Court has ruled that the Internal Revenue Service has only three years to impose additional taxes in a tax shelter case, instead of six years like the government wanted. Report: Apple Legally Sidesteps Billions in Taxes A published report says Apple Inc. uses subsidiaries in Ireland, the Netherlands and other low-tax nations as part of a strategy that enables the technology giant to cut its global tax bill by billions of dollars every year. Survey Highlights Lease Accounting Challenges Ninety-two percent senior executives from global companies believe they are not prepared to implement the pending rules regarding lease accounting, according to a new survey by IBM and CFO Research Services.

Spotlight

FREE CPE: XBRL: Long Anticipated, Now Required The third phase of the SEC's interactive data disclosure program took effect this month, with nearly all public companies now required to submit their data in the fully searchable, digital format known as XBRL. Joseph Howell, managing director at WebFilings, reviews how businesses are complying with the SEC mandate and predicts how companies will adapt the XBRL technology for their own internal needs. SmartPros Price: FREE! - Sponsored by WebFilings CPA Report Online Subscribe to the top online CPE program for public accountants. CPA Report Online covers the latest events impacting public practice. SmartPros Price: Courses: $59.98 - Subscriptions: $409 FMN Online Subscribe to the program that more than half of the Fortune 500 trust for CPE. Stay up to date on Sarbanes-Oxley and other key events impacting corporate finance. SmartPros Price: Courses: $69.90 - Subscriptions: $429

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Introducing SmartPros Legal Professional Education SmartPros Legal features the Cognistar CLE library highlighting over 150 course titles in areas such as litigation, IP, corporate/securities law, tax, labor/employment law, bankruptcy, ethics, professionalism, substance abuse, bias, and many more.