While the “Great Recession” may have been declared over by the powers
that be, the tepid recovery in 2010 did not help states gain a foothold
on their budgets. In fact, many states will have to deal with
multi-billion dollar budget gaps in 2011 and beyond, as structural
deficits that can only be fixed by drastically raising taxes or cutting
services are not being addressed sufficiently. From a tax perspective,
pure tax increases have beenmore...
Grant Thornton LLP’s Senior Partner of Professional Standards and Global
Public Policy John (Arch) Archambault has been reappointed as a Forum of
Firms member of the International Auditing and Assurance Standards Board
(IAASB) for a term of three years, effective from Jan. 1, 2011. The
IAASB is an independent standard-setting board supported by the
International Federation of Accountants (IFAC).
Archambault is one of six new andmore...
Desmond and Robason re-elected to Partnership Board; Katz re-elected as chairman
At Grant Thornton LLP’s Annual Partners Meeting in November, the
partners and principals elected San Jose-based Jacqueline Akerblom,
Audit partner, national managing partner of Women’s Initiatives and West
Region North International Business Center director, to the Partnership
Board. Incumbents who were re-elected to the board include John Desmond,
Long Island office partner-in-charge, and Randy Robason, national
Transaction and Risk Advisorymore...
Senior management at U.S. manufacturing companies is once again
optimistic, according to a Grant Thornton LLP November survey. Nearly
half (49%) believe the U.S. economy will improve in the next six months,
and the same amount (49%) say they plan to increase staff during the
Manufacturing leaders are also optimistic about their own businesses,
with 81% feeling optimistic about their companies’ growth over the nextmore...
CHICAGO--(BUSINESS WIRE)--Grant Thornton LLP wants to remind America that it’s the perfect time to consider some holiday season tax planning strategies as 2010 winds down. “People need to be paying special attention to their year-end tax planning in 2010,” said Justin Ransome, a partner in Grant Thornton’s Washington National Tax Office. “Dramatic changes in the tax code are scheduled to take effect on New Year’s Day, so you can’t wait untilmore...
CHICAGO--(BUSINESS WIRE)--U.S. business leaders are once again optimistic, according to Grant Thornton LLP’s most recent Business Optimism Index, based on a quarterly survey of U.S. business leaders. Nearly half (47%) believe the U.S. economy will improve in the next six months, compared with just 34% in August. The job outlook is also improved, with 43% saying that their company plans to increase staff in the next six months (up from 38%). The Indexmore...
Grant Thornton LLP’s Financial Services practice today announced the
release of its new article: Strengthening the foundation for
foreclosures. This piece outlines the key issues banks and mortgage
service companies should consider regarding their execution of
foreclosure procedures in order to avoid litigation and reputational
As consumers and litigators focus on the practice of “robo-signing” or
the rapid processing ofmore...
CHICAGO--(BUSINESS WIRE)--The year-end charitable giving season is upon us, and Grant Thornton LLP wants to make sure Americans don’t miss out on the federal tax rewards available for their charitable contributions. “In general, Americans are very charitable people and it’s an added benefit that our government rewards us for it,” said Justin Ransome, a partner in Grant Thornton’s Washington National Tax Office. “However, strict adherence tomore...
Grant Thornton LLP’s Corporate Advisory & Restructuring Services (CARS)
today announced the release of its new white paper: Zone of insolvency: Decision-making
in times of distress. The study has determined that directors and
officers should closely monitor both financial and nonfinancial distress
indicators to better assess the state of their businesses.
As the number of financially distressed companies has increased during
It’s time to start thinking about year-end estate planning, and Grant
Thornton LLP wants to make sure Americans are informed fully as to the
coming changes in estate tax laws that will impact planning decisions.
“Planning during uncertainty is always a risky venture, especially if
you guess wrong,” said Justin Ransome, a partner in Grant Thornton’s
Washington National Tax Office. “However, if you understand the reasons