Spring 2012 issue of Horizons

There’s no doubt that the most sweeping regulatory changes within the accounting profession came in the early 2000s with the introduction of the Sarbanes-Oxley Act and its related trickle-down effect on all organizations. Over the past 10+ years, our profession has continued to experience regulatory change and, even more significantly, increasing complexity of rules and standards. The CEO of Financial Executives International reported earlier this year that the top challenges for financial executives include: • Tax reform • Healthcare uncertainty • Dodd-Frank Act implementation and revision • XBRL • Convergence of U.S. GAAP and IFRS • Private company accounting While all of these are considerable, RubinBrown recently reported in our monthly electronic newsletter, “ RubinBrown Accounting & Auditing Alert, ” that the private company accounting debate continues. RubinBrown has and continues to support the Blue Ribbon Panel’s recommendation for a separate, authoritative standard-setting body, under the Financial Accounting Foundation for the promulgation of accounting and financial reporting standards for private companies. On behalf of our clients, RubinBrown remains committed to supporting a solution for relevant, decision-useful accounting and financial reporting standards for private companies. Please review all of our recommendations and guidance on private company financial reporting by reviewing past issues of the RubinBrown Accounting & Auditing Alert . It can be found on the left-hand side of our website at www.rubinbrown.com . As always, I personally welcome your feedback on this issue of Horizons and, overall, on your business views. Please email me directly at john.herber@rubinbrown.com . Welcome FromRubinBrown’s Managing Partner

John F. Herber, Jr., CPA Managing Partner

Pleasant reading,

www.rubinbrown.com

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