CPA Observation Post

IRS Computer Security Center Needs Improvement (via @AccountingToday)

The office at the Internal Revenue Service that is responsible for monitoring the IRS network for cyberattacks and computer vulnerabilities is generally doing a good job, but still has room for improvement, according to a new government report. Read More>>

Internal audits zero in on technology risks

More companies are focusing their internal audit functions on risks associated with cloud computing and social networking, according to a report from consulting firm Protiviti. Companies are being challenged to address enterprisewide risks raised by the growing use of technology, and are still learning to use technology in the audit process. Read More>>

IRS data protections found lacking

The IRS has failed to implement key components of its information security program, potentially putting at risk sensitive agency and taxpayer data, according to the federal government’s top watchdog. Read More>>

Opportunity Exists for CPAs to Better Leverage Emerging Technology

Like other business professionals, CPAs continue to wrestle with the best strategy to maximize the benefits of emerging technologies, such as mobile devices and cloud computing, according to the 2012 Top Technology Initiatives Survey by the American Institute of CPAs. >>Read more

Finance execs' responsibility for IT decisions is growing

Senior finance professionals in the U.K. are experiencing expanding responsibility for IT purchasing decisions, a survey shows. The additional duties coincide with increased scrutiny of internal costs and the availability of new external technology solutions. Read More>>

Internet sales continue to eat away at state revenues (via @USAToday)

Sales taxes last year took the smallest percentage of consumers' dollars since 1967 as tax-free Internet sales and untaxed services continued to erode state and local governments' top source of revenue, a USA TODAY analysis finds. Read More>>

Survey finds taxpayers worried about security, privacy with online tax filing (via @AccountingToday)

A majority of taxpayers are concerned about the security and privacy of their personal and financial information when filing their state and federal tax returns online, according to a new survey. Read More>>

IRS Website Plans Too Vague, Watchdog Says

The IRS plans to spend $320 million over 10 years to improve its website, but the agency's plans on how exactly it will do that remain unclear, according to a government watchdog agency. Read More>>

SEC sees progress in filing of interactive financial statements (via @AccountingToday)

Filers are making progress in their use of eXtensible Business Reporting Language in financial documents, the Securities and Exchange Commission found in its latest review of Interactive Data Financial Statement submissions. Still, the SEC's review of second-quarter 2011 filings found room for improvement in certain areas, such as the formatting of statements, negative values, use of unnecessary extensions and the completeness of the tagging. Read More>>

Amazon supports "evenhanded" federal law for online sales tax

Amazon.com would like to see "an evenhanded federal framework for state sales tax collection," a company executive said at a House Judiciary Committee hearing. A bill introduced in the Senate last month would allow states to require online retailers to collect sales taxes even if they do not have physical locations in the states. Amazon supports such a law, as long as it includes few exemptions, said Paul Misener, Amazon's vice president for global public policy. Read More>>