As more technology providers move away from on-premises software in exchange for online cloud solutions, buyers have an opportunity to save money on once-costly software applications. However, those savings may not always be as big as expected.

According to an article recently published by CFO.com, through a series of common mistakes, organizations do not always see the level of savings from cloud computing that providers promise. The article refers to these mistakes as “hidden gotchas.”

Following a public comment period where businesses expressed concerns about the severity of penalties, the Department of Treasury Office of Foreign Assets Control issued its final rule on the Economic Sanctions Enforcement Guidelines.

The final guidelines should remind organizations of why it is so important that they not make payments to blocked entities. The following is a list of the key changes to OFAC enforcement.

Voluntary Self-Disclosure

Businesses are holding onto their cash tightly, choosing to store it in bank accounts instead of high-yield, high-risk investments.

According to an article published by CFO.com, companies have deposited 42 percent of their short-term cash into bank accounts. Last year, they deposited just 37 percent, and only 25 percent in 2008.

Implementing a process improvement in accounts payable can seem like trying to move the earth. As AP staff struggle to keep their heads above water while simultaneously fighting large workloads and inefficient processes, there is very little time or energy available to focus on process improvements.

She says that accounts payable staff members rarely receive the training necessary to become good leaders. They have become accustomed to taking the blame for any and all late or missed payments. As a result, AP employees have a tendency to be reactionary.

Despite the whistleblower protections ensured in the Sarbanes-Oxley Act of 2002, only a mere 2 percent of claims have been upheld.

An article posted by The Hill reveals that, according to the Center for Public Integrity, the U.S. Department of Labor upheld just 25 of the 1,091 whistleblower claims brought to their attention since SOX passed in 2002.

A key advantage that online retailers have over their brick-and-mortar counterparts may soon vanish. Congress is considering requiring merchants to collect sales tax on their online sales.

On July 1, the Main Street Fairness Act, a bill which would mandate that Internet retailers collect sales tax regardless of whether they are located in the customer’s state, was introduced to Congress.

Sarbanes-Oxley enforcement is going to look a little different soon, thanks to a Supreme Court decision ruling that aspects of the Public Company Accounting Oversight Board are unconstitutional.

According to a report from AccountingWeb, the U.S. Supreme Court reached its decision on June 28, 2010. The case stemmed from a 2006 lawsuit filed against the PCAOB, which enforces the 2002 Sarbanes-Oxley Act, claiming that the appointment of PCAOB officials violates the separation of powers principle.

Two men managed to steal several thousand dollars from the State of Pennsylvania by filing fraudulent claims for unclaimed property.

Stefan Arteaga-Pizenbauer, 37, of Levittown, PA., and Luis Maura, 26, of Hamilton, were both recently sentenced to 364 days in the county jail and three years of probation, respectively, for stealing unclaimed funds from the state in 2006.

An “unsophisticated” credit card fraud yielded nearly half-a-million dollars in ill-gotten gains for one accounts payable clerk.

According to an article posted on Canada.com, an AP clerk for Vancouver Island InsuranceCentres perpetrated a credit card billing scheme against the company from 2003 to 2006. During that time, she stole $437,544.

Those waiting for the answer to whether the Sarbanes-Oxley Act is unconstitutional may not have to wait long. The U.S. Supreme Court is expected to soon reveal its decision, which could significantly impact U.S. accounts payable departments.

According to a report published by the Journal of Accountancy, the U.S. Supreme Court will likely announce its decision in the case, Free Enterprise Fund v. Public Company Accounting Oversight Board, before the end of its current session on June 28.