This is a follow-up to a March FERF Research Blog post and FELIX question regarding OLAP setup from FEI member Terry Hartmann. Based on the response Terry received he sent a nice compliment to his fellow FEI member for his response and headquarters as well.
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We are looking for a tax lawyer that is familiar with the new medical device excise tax that is scheduled to go into effect in 2013. Specifically we are seeking guidance on whether any of our products will be subject to this new tax. Does anyone have any contacts in this area?
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U.S. International Tax Reform Survey
On October 26, 2011, Chairman of the U.S. House of Representatives Committee on Ways and Means Dave Camp (R-Mich.) released a discussion draft for revenue-neutral corporate tax reform that would lower the U.S. statutory corporate rate to 25 percent and adopt a territorial tax system. Specifically, the discussion draft proposes a 95-percent dividends received deduction for eligible foreign-source dividends. Chairman Camp has invited stakeholders to analyze the discussion draft (a summary of the draft can be found
here) and provide the Ways and Means Committee with constructive feedback to help them perfect the proposal. For additional insights into the draft click
here.
Financial Executives Research Foundation (FERF) has prepared a summary of proposed and final actions by the following U.S. and international standard-setting and regulatory bodies:
- Financial Accounting Standards Board (FASB),
- Financial Accounting Foundation (FAF),
- Emerging Issues Task Force (EITF),
- International Accounting Standards Board (IASB),
- American Institute of Certified Public Accountant (AICPA),
- Securities and Exchange Commission (SEC),
- Public Company Accounting Oversight Board (PCAOB),
- Department of the Treasury (Treasury),
- Internal Revenue Service (IRS),
- eXtensible Business Reporting Language (XBRL) and
- Committee of Sponsoring Organizations of the Treadway Commission (COSO).
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To download a copy of the 2011 Audit Fee Survey report, click
here. These results are also available on-line at AuditFeeCheck.
How do your company’s audit fees stack up?
This annual survey, conducted by Financial Executives Research Foundation (FERF) in collaboration with NYSE Euronext, has been one of our most popular and most valuable surveys, helping FEI members benchmark their company’s audit fees and experience. Your participation provides valuable data for fellow FEI members, regulators and the press, and documents current trends in audit fees. We also ask for your opinion regarding the PCAOB’s recent proposal for mandatory auditor rotation.
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