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FAF recommends vetoing accounting bill
Robert J. DeSantis, president and chief executive of the Financial Accounting Foundation (FAF), recommended Connecticut Governor Jodi Rell to veto a new accounting bill recently. After passing through the House on May 24 and the Senate on June 6, the bill is now waiting for Gov. Rell's signature. The bill grants legal authority to the state comptroller to set accounting principles for the state's fiscal reports. It will help to avoid now mandatory local and state government rules set by the Governmental Accounting Standards Board. Connecticut's comptroller Nancy Wyman believes the legislation will increase transparency in the budgeting process.
Accounting software AccuFund offered as online hosted service
AccuFund, Inc., launched online solution AccuFund Hosted at the 101st Annual Meeting of the Government Finance Officers Association. AccuFund, Inc., provides accounting software and financial reporting for non-profit, municipal, and government organizations. AccuFund Hosted is meant for firms that do not want to manage a Windows® server or install related software. AccuFund, Inc., manages the installation of the accounting software, regular database backups, subsequent upgrades, and other services of AccuFund Hosted. AccuFund Hosted can be accessed from workstations through a SSL (secure socket layer) connection using 256-bit data encryption. Local printing on defined laser printers can also be run by the financial reporting and accounting software.
Lopez Levi employee appointed at National Board of Forensic Accountants
The National American Board of Forensic Accountants has appointed Mr. Lopez-Lima from Lopez Levi & Associates, P.A., for a two-year term, beginning this year. At Lopez Levi & Associates, Mr. Lopez-Lima was director of forensic examinations and business valuation. Working as a state expert witness, Lopez-Lima Levi helped the state to bring to task people facing corruption charges. Lopez Levi & Associates is a well-known certified public accounting minority firm in the tri-county of Broward, Miami-Dade, and Palm Beach. Apart from other client-support services, it also offers financial and business consulting services like accounting and auditing, criminal tax matters, tax planning, preparation and compliance, fraud investigation, business valuations, and litigation support.
Steven R. Starke promoted as CAO of Bronco Drilling Company
Steven R. Starke has recently been promoted as chief accounting officer (CAO) of Bronco Drilling Company, Inc., (Nasdaq/GM:BRNC). He has been working as controller of the company for the past two years. With a degree in accounting and management information systems, Starke is a certified public accountant. Oklahoma-based Bronco Drilling Company provides land drilling services to oil and natural gas exploration and manufacturing enterprises on contract. In addition to a new CAO, Bronco has also recruited Mark Dubberstein as president, and David C. Treadwell as general counsel and assistant secretary of the company. Matt Porter joins as vice president of corporate finance, while Rebecca D. Smith has been promoted as the company's controller.
PCAOB hires deputy chief auditor
The Public Company Accounting Oversight Board has named C. Gregory Scates as its deputy chief auditor. Previously, Scates served the Division of Enforcement at the SEC as an associate chief accountant. Scates, 53, began his career in public accounting and has been a member of PCAOB for the past four years. In his new role, Scates will direct technical development of the Board's standards and supervise the activities of the office of the chief auditor. He will ensure that the PCAOB standards are suitably communicated to public-company auditors and other concerned parties. Scates will be accountable to Tom Ray, the chief auditor and director of professional standards at PCAOB.
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