(Continued from page 2)  KPMG

But if the economy worsens and executives come under fire, will executives retreat to the quick fixes? Or will they realize that a holistic review of their costs and business model is the only way to achieve the long-term results they need to keep their business competitive in good times and in bad? Only time will tell.

 

Don Mailliard is a Principal in KPMG LLP’s Advisory practice and is based in Dallas.  He can be contacted at 214-840-2848 or dmailliard@kpmg.com.

 

KPMG LLP, the audit, tax, and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International. KPMG International’s member firms have 123,000 professionals, including 7,100 partners, in 145 countries.

 

The views and opinions are those of the author and do not necessarily represent the views and opinions of KPMG LLP. All information provided is of a general nature and is not intended to address the circumstances of any particular individual or entity.

(Continued from page 4)  FEI Technical Committees Update

Research Foundation’s recent work by Cheryl Graziano (FERF), as well as an update from Matt Miller (FEI) on FEI’s national activities.  Moreover, CGB plans to tour Parker Hannifin’s Control Systems Division (CSD) manufacturing facility.  CSD is a manufacturer of aerospace and defense flight controls, and other related subsystems and systems.

 

Committee on Taxation (COT)

Staff Liaison: Matt Miller

The next COT meeting is scheduled for November 20-21 and will be held in Washington, DC   This meeting will include a detailed review of the 2008 elections and the corresponding tax considerations.

 

This past April, COT and CCR filed an amicus brief in the Textron case (on appeal in the 1^st Circuit Federal Court of Appeals), to support the Federal District Court’s decision and to address additional consequences that could result from an adverse ruling.   Textron is a case concerning the review of the attorney-client, tax practitioner-client, and work product privileges with regard to tax accrual papers.  It also discussed when those privileges could be waived or could be overcome.  Oral argument in the Textron appeal is scheduled for September 5 in Boston. 

 

Diversity Task Force

Staff Liaison: Serena Dávila

The Task Force had its last call on July 31.  Jerry Urich is the new chair of this task force.  The task force discussed its continued partnership with the Association of Latino Professionals in Finance and Accounting (ALPFA) and the National Association of Black Accountants (NABA). The Task Force hopes to continue to work with both of these organizations to develop diversity efforts.  The Task Force is also very interested in working with all chapters to further diversity efforts and will be rolling out suggestions and plans on this soon.