North America: Accounting and Audit

Although e-commerce has been around for about a dozen years, in many ways it really only came into its own in 2006. If you consider that online sales still account for only one per cent of all retail purchases, you might wonder whether e-commerce has actually progressed all that much.

Identity theft is the number one consumer crime in America, and still growing rapidly. In 2004, almost one in twelve households were victimized by some form of identity theft, and surveys indicate that approximately one fifth of Americans have been victims at one time or another. The total amount of identity fraud in 2004 reached a staggering $200 for every man, woman, and child in the US. Estimates of actual individual losses vary widely, but figures of approximately $500 average out-of-pocket

Assume a situation in which Party One in foreign country A asks his local bank to make a payment to the local bank of Party Two in foreign country B. Assume further that this transaction has absolutely nothing to do with the United States.

Nonprofit organizations that sponsor retirement plans such as 401(k) and 403(b) plans are subject to two separate, but related, newly finalized U.S. Department of Labor regulations regarding disclosure of retirement plan fees that will become effective soon: (1) vendor-to-plan disclosure, and (2) plan-to-participant disclosure.

In the nearly seven years since the United States Bankruptcy Code was amended to include a new Chapter 15 to address cross-border insolvencies.

The IRS has finalized regulations (T.D. 9582) regarding whether the order in which a trust or estate distributes income to charity under its governing instrument will be respected for federal income tax purposes.

The GO Alliance, a group of four southeastern law firms working together to assist companies in the regions of Louisiana, Mississippi and Alabama impacted by Hurricane Katrina, has introduced a new web site.

Assume a situation in which Party One in foreign country A asks his local bank to make a payment to the local bank of Party Two in foreign country B. Assume further that this transaction has absolutely nothing to do with the United States.

This article explores some of the special issues that may arise when litigation in the United States requires a party to produce electronic documents located in India. Indian corporations and Indian subsidiaries to U.S. corporations may be unfamiliar with how the discovery process operates in the United States, and the special problems associated with electronic discovery present further challenges.

Will there or won't there be a recession? What's the long-term economic outlook? How high can inflation go?

Torys Business Brief focuses on key issues and actionable knowledge for businesses to emerge from the COVID-19 crisis resilient and well-positioned for the future.

To manage the economic challenges induced by COVID-19, governments around the world are announcing measures and stimulus packages to boost economies and minimize cashflow problems to its people.