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• CFO Optimism Increased in Fourth Quarter

  January 28, 2010

  CFOs were more optimistic about the economy and their own companies in the fourth quarter of last year, according to a new survey.

• Survey: Biz Professionals See Uptick in Recovered Funds

  January 27, 2010

  Nearly two-thirds of business professionals hailing from a wide range of industries felt that the Fraud and Investment Recovery Act would be effective in boosting the total dollar amount the government will be able to recoup under the False Claims Act.

• Accountants Advocated for Reform During Crisis

  January 15, 2010

  A new global survey by the International Federation of Accountants revealed that its members acted as advocates for small and midsize businesses, and for corporate governance and accounting reform, during the financial crisis.

• Small Businesses Skeptical of Credit Availability

  January 13, 2010

  One-third of small businesses question their ability to access credit in 2010, according to a new survey.

• Wealthy Americans Shift to Tighter Budgets

  January 12, 2010

  The recession has caused a significant number of America’s wealthy to re-evaluate their lifestyles, according to a new survey.

• Turnaround Specialists Predict a Rocky 2010

  December 31, 2009

  Most turnaround professionals predict a hard slog toward economic recovery in 2010 as businesses weighed down by debt hit rough patches and credit markets shun them, according to a new survey.

• Small Business Economic Confidence Stabilizes

  December 30, 2009

  Economic confidence among America’s small-business owners was steady in December as fewer of them believe the U.S. economy is getting worse compared to November, according to a new survey.

• FEI Identifies Top Challenges for Finance Execs

  December 22, 2009

  Financial Executives International has written a report listing the top challenges it sees for financial executives next year.

• Accountants Think Companies Aren’t Ready for Recovery

  November 19, 2009

  A new survey of corporate accountants found that 46 percent said their company could do more to prepare for recovery and another 8 percent believe their company is poorly prepared for recovery.

• Pessimism Remains High Among CPA Financial Execs

  November 16, 2009

  Optimism about the economy among CPAs appears to have stalled, according to a new survey.

• From Financial Crisis to Financial Recovery

  November 11, 2009

  If you look closely at our home page, you might notice a subtle change at the top of our channel selections.

• Financial Execs Predict Double-Dip Recession

  October 27, 2009

  Nearly half of financial professionals think that the current recession will be characterized by another large economic dip, and 74 percent see the recovery taking at least until mid-2010, according to a new poll.

• CFOs Express More Confidence in Economy

  September 30, 2009

  CFOs indicated a heightened sense of confidence in the U.S. economy and their own companies in the third quarter, according to a new survey.

• Recovery Spending Likely to Go to IT

  September 23, 2009

  As the economy continues to improve, some 40 percent of chief financial officers polled in a recent survey said those recovery dollars will likely be plowed into their IT systems.

• Accounting Regulators Not Necessarily in Harmony

  September 16, 2009

  The banking and insurance industries have been playing arbitrage with the various accounting standards produced by U.S. and international standard-setters.

• Nonprofits Balk at Salary Raises

  September 11, 2009

  Nearly 70 percent of nonprofit organizations in the mid-south plan no salary raises this year, according to a survey by accounting firm Watkins Uiberall.

• Salary Increases for Bank CEOs Level Off

  September 10, 2009

  CEOs of financial institutions received an average 1 percent increase in total cash compensation in the past year, the lowest level in three years, according to a survey by accounting firm Crowe Horwath.

• Survey Finds Economic Recovery Still Fragile

  September 9, 2009

  Claims that a world economic recovery is underway are based on fragile evidence and recovery could be a year away, according to a survey by the Association of Chartered Certified Accountants.

• Optimism Rises Among CPA Financial Execs

  August 19, 2009

  Chief financial officers and senior-level executive CPAs are feeling more optimistic about the economy and the prospects for a recovery next year, according to a new survey.

• Small Businesses Don’t Expect Economy to Improve

  August 12, 2009

  Optimism among small-business owners has fallen for the second month in a row, according to a survey by the National Federation of Independent Business, mainly due to a decline in expectations that business conditions would improve in six months.

• Private Sector Lost 473,000 Jobs in June

  July 1, 2009

  Private sector employment decreased by 473,000 last month, according to payroll figures from ADP, but the pace of job losses seems to be easing up compared to earlier in the year.

• CPA Firms See Economic Recovery on Horizon

  June 26, 2009

  A new survey of small and midsized CPA firms indicates that they see signs of economic recovery coming by the end of the year.

• Companies Expect Rebound by Early 2010

  June 24, 2009

  Manufacturing and wholesale distribution companies surveyed by accounting provider RSM McGladrey expect to rebound from the recession beginning in late 2009 and early 2010.

• CFOs Increasingly Worried about Their Companies

  June 23, 2009

  The confidence level of CFOs in the U.S. economy showed signs of improvement for the first time in over two years, even as optimism about their own companies declined, according to a new survey.

• Workers Hope to Change Jobs, Eventually

  June 18, 2009

  About 54 percent of employed Americans plan to look for a new job once the economy rebounds, according to a new survey.

• Financial Execs See Opportunity in Recession

  June 11, 2009

  Eighty-seven percent of nearly 300 senior financial executives believe the recession provides their company with an opportunity to gain market share, according to a new survey.

• Grant Thornton Sees Business Optimism Rebounding

  June 8, 2009

  A quarterly confidence measure compiled by Grant Thornton from polls of U.S. business leaders shows business optimism returning to pre-recession levels.

• Private Sector Shed 532,000 Jobs in May

  June 3, 2009

  Employment in the private sector fell by 532,000 jobs in May, according to payroll figures from ADP.

• Tax Revenues Take a Dive

  May 27, 2009

  Federal tax revenues plunged 34 percent in April to $266 billion, compared to $404 billion in April of last year, according to a new study.

• Checklist to Help Businesses Prepare for Rebound

  May 27, 2009

  Accounting and finance staffing company Robert Half Management Resources offered advice for companies to position themselves to take advantage of a future economic recovery.

• WEB TOOLS

  May 20, 2009

• Clients' Concerns, and Down Niches

  May 20, 2009

• In Brief

  May 18, 2009

• Nonprofits can survive and thrive in an economic drought

  May 18, 2009

  Tough times deplete already-scarce resources across the economy, and governments are increasingly asked to provide more and more assistance as tax revenues diminish.

• In Brief

  May 18, 2009

• CFOs and CPA Execs More Optimistic about Economy

  May 13, 2009

  Pessimism about the economy among CFOs and senior-level executive CPAs appears to have eased in the second quarter, according to a new survey.

• Banks Survive Financial Stress Tests

  May 7, 2009

  U.S. banks need about $74.6 billion in extra capital after undergoing a series of financial stress tests by the Federal Reserve.

• Private Sector Cut 491,000 Jobs in April

  May 6, 2009

  Payroll data released Tuesday showed that private sector employers slashed 491,000 jobs in April.

• Sage Cuts 500 Employees in North America

  May 6, 2009

  Sage North America announced 500 job cuts as the accounting software developer’s U.K. parent company posted revenue declines.

• Obama Working for the Clampdown

  May 6, 2009

  Some of the president’s staunchest supporters in Congress and the tech business seemed taken aback by his plans to crack down on offshore corporate tax havens, but they shouldn’t have been surprised.

• Pond Keynote, Tech Updates Kick Off Practitioners Symposium

  May 4, 2009

  Award-winning author and financial planner Jonathan Pond told a crowd of more than 500 small firm principals and sole practitioners that while the current recession is life-changing for many, conditions will improve despite the media’s best efforts to portray the current climate as “hopeless.”

• Maryland CPAs Connect During Financial Crisis

  April 24, 2009

  The Maryland Association of CPAs wants to send a message to its members that it’s there to help them survive the turbulent economy. The association’s home page highlights several programs to help members cope with the recession and position themselves to take advantage of the economic recovery.

• Senate Mulls Tech-Neutral Energy Taxes

  April 24, 2009

  The Senate Finance Committee heard from a panel of experts about the pros and cons of skewing energy tax benefits toward one technology, such as wind power, at the expense of another.

• Accounting Convergence Comes to Public Sector

  April 24, 2009

  The International Public Sector Accounting Standards Board is proposing new financial reporting requirements to help public sector entities account for financial instruments, such as derivatives, bonds, and loans, and produce global standards of transparency.

• Recession’s Impact on Firms

  April 22, 2009

  A survey by the consultancy Rosenberg Associates has turned up some surprising, and some not-so-surprising, information on the economic downturn’s effect on accounting firms.

• An Ideal Marriage

  April 21, 2009

  Unemployed accountants should have more choices than stocking the shelves of a food pantry if they want to volunteer to help their communities.

• Economy, legislation threaten to impact S corps

  April 19, 2009

• They need help!

  April 19, 2009

  It's safe to say there hasn't been a time in recent history when small-business owners needed guidance from their accountants as much as they do now. It's becoming clear that for all their knowledge and energy, most entrepreneurs can't go it alone in these difficult times

• Shooting for the stars

  April 19, 2009

  The Internal Revenue Service now has a new interest in sports and entertainment - and not just as a spectator.

• Senior Financial Execs Foresee Long Recession

  April 13, 2009

  Grant Thornton study finds CFOs gloomy.

• Survey Says Finance Pros Still Want IFRS

  April 9, 2009

  Seventy-five percent of finance professionals support the movement toward a single set of high-quality global accounting standards, according to a new survey by Deloitte.

• States Hike Sales Tax Rates to New Records

  April 9, 2009

  The economic crisis is forcing many states and cities to increase their sales tax rates to the highest average level ever, according to a new report.

• IFAC Backs G-20 Financial Reforms

  April 8, 2009

  The International Federation of Accountants has endorsed a set of proposals made at last week's G-20 Summit of world leaders that aim to reform the global financial regulatory system.

• PCAOB Plans International Inspections

  April 8, 2009

  The Public Company Accounting Oversight Board has released a list of countries abroad where it intends to conduct inspections of auditing firms.

• PwC India Auditors Charged in Satyam Case

  April 8, 2009

  Two auditors from PricewaterhouseCoopers' Indian member firm have been charged in the Satyam accounting scandal.

• Canada Accounting Board Delays Fair Value Decision

  April 8, 2009

  Canada's Accounting Standards Board said that it has not yet made a decision on whether to change its fair value standards to match up with U.S. standards.

• U.S. and Swiss to Share More Tax Information

  April 7, 2009

  The U.S. Treasury Department said that it plans to begin negotiating a protocol with the government of Switzerland to exchange more tax information, opening a window on formerly secret Swiss bank accounts.

• Protecting businesses from fraud

  April 5, 2009

  As the economy continues its downturn and the financial pressure on business increases, the risk of fraud becomes higher than ever.

• In brief

  April 5, 2009

• Madoff investors: Tax victims, too?

  April 5, 2009

  Many are surprised to learn that while it sometimes appears that the Internal Revenue Code reaches into every aspect of our lives, it lacks focus in addressing the complex tax consequences that face the unfortunate victims of Ponzi schemes.

• International Accounting Monitors Choose Leader

  April 6, 2009

  The Monitoring Board that was recently established to add more public accountability to the International Accounting Standards Board has held its inaugural meeting and picked its first leader.

• FASB Explains Fair Value Changes

  April 6, 2009

  The Financial Accounting Standards Board has issued a "plain English" summary of the board's actions when it modified the standards for fair value and mark-to-market accounting in response to congressional demands.

• Companies Foresee More Tax Audits

  April 6, 2009

  As governments desperately seek all kinds of additional revenue, senior business professionals see the increased possibility of an audit by taxing authorities as the most significant tax risk facing their organizations today, according to a new survey.

• Horwath Becomes Crowe Horwath

  April 3, 2009

  Accounting firm network Horwath International has changed its name to Crowe Horwath to emphasize its association with Crowe Chizek.

• Reactions Mixed to FASB Fair Value Compromises

  April 3, 2009

  Accounting experts and industry organizations alternately praised and panned the Financial Accounting Standards Board's decision to loosen the standards for fair value and mark-to-market accounting.

• Accountant Arrested for UBS Tax Shelters

  April 3, 2009

  The first U.S. client of Swiss bank UBS has been arrested on tax evasion charges by federal authorities, and he's an accountant.

• Congress to IRS: Go Easy on Small Biz

  April 2, 2009

  Lawmakers at a congressional hearing Wednesday pressed Internal Revenue Service Commissioner Douglas Shulman to ease up on audits of small businesses.

• U.S. Signs Tax Deal with Gibraltar

  April 2, 2009

  Just in time for the G20 economic summit in London, the U.S. Treasury Department has signed a tax information exchange agreement with the government of Gibraltar.

• IRS Provides COBRA Guidance

  April 2, 2009

  The Internal Revenue Service has issued guidance to clarify the COBRA benefits offered under the recently passed stimulus bill.

• FASB Compromises on Fair Value

  April 2, 2009

  Under pressure from Congress to act quickly, the Financial Accounting Standards Board voted to approve substantial changes to fair value accounting.

• Outlook Dims for Recovery This Year

  March 31, 2009

• New Oversight Board Proposed

  March 31, 2009

• Firms Take Action on the Crisis

  March 31, 2009

  Many firms have found the financial crisis fertile ground for new client services.

• Accounting & Auditing Briefs

  March 31, 2009

• Support, Questions for IFRS

  March 31, 2009

• AICPA Launches Economic Crisis Resource Center

  March 31, 2009

• Seniors Lack Economic Security

  March 31, 2009

• Saving More, Cutting Debt

  March 31, 2009

• CCH Helps with Crisis, IRS

  March 31, 2009

• Recovery Act Moves

  March 31, 2009

• Intuit Offers Cash, Services to Firms

  March 31, 2009

  Intuit has launched a program offering $10,000 cash grants and up to $10,000 in products and services to 10 accounting firms.

• Report Recommends More Fair Value Disclosures

  April 1, 2009

  A new report suggests that companies adopting the Financial Accounting Standards Board's recent proposals on modifying mark-to-market and fair value accounting standards should provide more extensive disclosures to help investors make sense of the impaired assets.

• IRS Announces Tax Break on New Car Purchases

  April 1, 2009

  The Internal Revenue Service has begun spreading the word about a special incentive for taxpayers to buy a new car this year: a hefty deduction next year.

• Execs Anticipate Major IFRS Transformation

  April 1, 2009

  CFOs at U.S. companies expect that the transition to International Financial Reporting Standards will give them the ability to transform their finance departments, according to a new survey, but the price tag could be high.

• Treasury Launches Financial Stability Site

  April 1, 2009

  The Treasury Department has opened its ballyhooed Web site that will allow ordinary citizens to keep an eye on efforts to stabilize the financial system.

• FASB Caves on Mark-to-Market

  April 1, 2009

  The Financial Accounting Standards Board has bowed to pressure from lawmakers and banking interests and put forward a proposal to relax fair value standards.

• Private Sector Lost 742,000 Jobs in March

  April 1, 2009

  Private sector employment declined by 742,000 jobs last month, according to the latest monthly report by payroll giant ADP.

• Bonus Tax Bills May Be Unconstitutional

  March 31, 2009

  The Congressional Research Service has found that both the Senate and House bills that seek to tax bonuses paid to employees of entities receiving assistance from the federal government under the Economic Stabilization Act of 2008 may have constitutional problems.

• How Satyam Kept a Major Scandal Under Wraps

  March 31, 2009

  Among the many cases of financial statement fraud that have hit the marketplace, one of the most intriguing is Satyam Computer Services' $1.1 billion vanishing cash hoard.

• Top Managers Can Last Nine Months Unemployed

  March 30, 2009

  In the current recession, an extended period of unemployment for top managers no longer carries the stigma it previously did, as a recent survey of executives said that on average, a senior manager could be jobless for as long as nine months before their careers became adversely affected.

• Institute Guide Offers Disaster Recovery Tips

  March 30, 2009

  The American Institute of CPAs has published Disaster Recovery: A Guide to Financial Issues, in cooperation with the American Red Cross and the National Endowment for Financial Education.

• Top Bankers Pledge Cooperation to Solve Crisis

  March 30, 2009

  Executives from the nation's largest banks pledged their cooperation and commitment to President Obama and his administration in order to begin the recovery process.

• Obama on Automakers' Bailout Plans: Unacceptable!

  March 30, 2009

  President Obama and his top economic advisors have determined that neither General Motors nor Chrysler have put forth acceptable plans to receive more bailout funds, which could effectively shut down the two auto giants.

• TARP Nominee Drops Out

  March 27, 2009

  Frank Brosens, a founding partner at hedge fund concern Taconic Capital Advisors, has withdrawn his nomination as overseer of the $700 billion bank bailout program.

• Intuit Unveils Co-Sponsors, Judges for Grant Competition

  March 26, 2009

  As part of its previously announced Power to Get More Done Initiative, which aims to help firms deal with the shaky economy by giving them money to hire extra staff and invest in their business, financial and tax software provider Intuit has announced the co-sponsors and judges for the effort.

• CFOs Optimism Wanes, Finance Execs Demand More from Boards

  March 26, 2009

  While confidence both in the U.S. economy and national leadership remains at low levels, many CFOs are taking action to protect their businesses, as 70 percent of financial executives surveyed revealed they are exploring strategies such as salary and benefits freezes and layoffs, while 58 percent have reported less confidence in President Barack Obama's ability to deal with the financial crisis since he took office.

• Toxic Asset Superfund

  March 25, 2009

  Treasury Secretary Timothy Geithner did his best at filling in the blanks on the Obama administration's plan for cleaning up the so-called 'toxic assets' clogging the balance sheets of banks.

• Geithner Petitions Lawmakers for Broader Takeover Powers

  March 25, 2009

  In a hearing before the House Financial Services Committee, Treasury Secretary Tim Geithner asked lawmakers to grant the Treasury Department more power to seize failing financial firms.

• Survey: Recession Not Stopping Divestitures

  March 25, 2009

  Despite the economic slump, a high number of executives are continuing to pursue divestitures or carve-outs, according to a survey conducted by Deloitte Corporate Finance.

• Internal Auditors Weigh In on Financial Crisis

  March 25, 2009

  -- More than 40 percent of internal auditors within the financial services sector felt that better risk management practices could have helped prevent their organization's current financial situation, according to a just-released study from the Institute of Internal Auditors.

• Triumph and Disaster

  March 24, 2009

  Politics seemed to be more about ideals before I was born, but more about expenditures after.

• Audit Committees Change Oversight

  March 24, 2009

  About 89 percent of the 150 audit committee members at a recent KPMG conference said that the financial crisis had caused their company's board or audit committee to change the nature and scope of its oversight.

• CBO Revises 2009 Budget Projections

  March 23, 2009

  The Congressional Budget Office has revised its projection of the 2009 deficit, adding another $400 million and bringing the total to a numbing $1.7 trillion.

• Administration Unveils Toxic Asset Plan

  March 23, 2009

  The Obama administration has revealed the latest measure in its colossal financial rescue plan, enticing private investors to buy up to $1 trillion in troubled assets carried by banks.

• Ernst & Young, UBS Sued over Madoff Feeder Fund

  March 20, 2009

  Ernst & Young and Swiss bank UBS have been sued by a group of investors in Luxembourg who put money in a fund that directed 95 percent of their assets to Bernard Madoff's firm.

• Small Businesses in Crisis Turn to Accountants

  March 19, 2009

  The economic crisis is prompting more and more small-business owners to turn to their accountants for advice, according to a new survey.

• IRS Wants Stanford to Pay Back Taxes

  March 19, 2009

  A federal court in Texas has ruled in favor of the Internal Revenue Service as it seeks $226.6 million worth of back taxes from Sir Allen Stanford, the banker who has been accused of defrauding investors of $8 billion.

• AICPA Supports International Monitoring Board

  March 19, 2009

  The American Institute of CPAs said it backs the creation of a monitoring board that would link the International Accounting Standards Board to government regulators in different countries.

• Boards Try to Reconcile Lease Accounting Standards

  March 19, 2009

  The Financial Accounting Standards Board and the International Accounting Standards Board are working together on resolving the knotty problems involved in lease accounting.

• House Votes to Tax AIG Bonuses

  March 19, 2009

  In response to public outrage over the $165 million in bonuses awarded to AIG executives, the House voted 328 to 93 to levy a 90 percent tax on the money.

• FASB Issues Fair Value Proposals

  March 18, 2009

  The Financial Accounting Standards Board has issued a pair of proposed fair value staff positions written to provide additional guidance regarding measurements and impairments of securities, after coming under pressure at a congressional hearing to ease mark-to-market accounting standards.

• Madoff's Auditor Arrested

  March 18, 2009

  David Friehling, the accountant who ran the tiny auditing firm that serviced Bernard Madoff's broker/dealer firm, has been arrested and charged with securities and investment advisor fraud.

• Putting the 'OT' in SWOTs

  March 17, 2009

  "A threat and an opportunity!" is how most firms in Practical Accountant's upcoming survey of regional firms termed this recession.

• Stimulus may stimulate accountants

  March 15, 2009

  Provisions in the recently signed $787 billion economic stimulus package - the American Recovery and Reinvestment Act of 2009 - will have a ripple effect across all industries, according to experts.

• Government may be the answer!

  March 15, 2009

  Is your firm interested in entering the federal government market? In an uncertain economy, the federal government can be a reliable source of revenues, often with good margins. A terrible economy, ironically, might be about the best time to try, due to a confluence of events - an unending spate of bailout and stimulus initiatives, coupled with the new administration's strong demands for transparency and accountability.

• In brief

  March 15, 2009

• Clients, Advisors Urgently Seek Answers

  March 15, 2009

  As the economy worsens and unemployment continues to rise, many people who have stayed invested may be asking themselves if they made a mistake by not selling out and remaining in cash.

• Treasury Tries to Jumpstart Small-Business Lending

  March 16, 2009

  President Barack Obama and Treasury Secretary Timothy Geithner unveiled a new effort aimed at unlocking the tight credit market for small businesses.

• Swiss to Relax Bank Secrecy Laws

  March 16, 2009

  Switzerland's longstanding banking secrecy laws are about to become as holey as Swiss cheese after authorities caved in to pressure from international tax authorities.

• More Tax Havens Disclose Secret Information

  March 13, 2009

  The tiny European countries of Liechtenstein and Andorra are two of the latest tax havens to succumb to pressure from international authorities to share information about assets hidden in bank accounts.

• CFOs Try to Boost Company Morale

  March 13, 2009

  Sixty-eight percent of CFOs have taken steps to boost employee morale in the midst of the economic crisis, according to a new survey, but 26 percent haven't done anything.

• XBRL May Help Monitor TARP Spending

  March 13, 2009

  Interactive data-tagging technology could assist government auditors in monitoring the spending done under the $700-billion-plus financial bailout plan.

• FASB Gives Cautious Response to IFRS Roadmap

  March 13, 2009

  The Financial Accounting Standards Board and its parent organization, the Financial Accounting Foundation, sent a comment letter to the Securities and Exchange Commission giving a thumbs-up to the proposed roadmap to International Financial Reporting Standards, but they urged more consultation and study.

• Madoff Goes to Jail

  March 12, 2009

  Bernard Madoff pleaded guilty to 11 charges in connection with a gigantic Ponzi scheme that swindled his clients out of up to $65 billion.

• IFRS Roadmap Slams into Reverse

  March 11, 2009

  The adoption of International Financial Reporting Standards in the U.S. looks to be increasingly in doubt.

• CPA to Oversee Tennessee's Stimulus Spending

  March 10, 2009

  Tennessee Governor Phil Bredesen has tapped a CPA, Charles L. Harrison, to lead the state's "implementation" of the stimulus funding it receives.

• Shareholder Meetings Likely to Be Contentious

  March 10, 2009

  Accounting firm BDO Seidman anticipates that shareholder meetings this year will be dominated by concerns about excessive executive compensation, recession plans and credit concerns.

• Bernanke Foresees Accounting Rule Modifications

  March 10, 2009

  Federal Reserve Chairman Ben Bernanke said that accounting standards need to be modified to deal better with valuing illiquid assets.

• Early Adoption of IFRS Appears Unlikely

  March 9, 2009

  Many financial executives in the U.S. have begun the initial stages of convergence with International Financial Reporting Standards at their companies, but early adoption in 2009 for qualifying companies will be difficult, if not impossible, due to the significant time requirements, according to a new report.

• Quality Control Tips for Small, Midsized Audit Firms

  March 9, 2009

  To help small and midsized accounting firms cope better with implementing international auditing standards, the International Federation of Accountants has published a "Guide to Quality Control for Use by Small- and Medium-sized Practices."

• ACCA Challenges Global Leaders to Endorse IFRS

  March 9, 2009

  The Association of Chartered Certified Accountants wants world leaders who attend the G20 summit next month to endorse International Financial Reporting Standards, and to leave fair value accounting alone.

• Dealing With Financial Stress

  March 8, 2009

  Multiple generations are handling the economic crisis in very different ways.

• Congress Proposes New Accounting Overseer

  March 6, 2009

  Two members of the House Financial Services Committee have introduced a bill that would establish a new Federal Accounting Oversight Board and probably loosen mark-to-market accounting standards.

• Internal Audit Critical in Financial Crisis

  March 6, 2009

  The internal audit function has become crucial to helping companies cope with the economic crisis and complex regulatory requirements, according to a new guidebook.

• Financial Planning Video Site Launches

  March 5, 2009

  The American College has introduced a video-on-demand Web site that will provide information for financial planners on wealth management and related topics.

• UBS Refuses to Disclose Tax Shelter Accounts

  March 5, 2009

  A UBS executive told a congressional committee probing tax shelter abuses that approximately 47,000 U.S. customers had accounts with the Swiss bank, but declined to release the names of the vast majority of them.

• Washington Can Really Use Some Accountants Now

  March 4, 2009

  The Obama administration's stimulus bill and budget proposal are going to require the outlay of not only trillions of dollars, but the hiring of a lot more accountants to keep track of all that money.

• Private Sector Loses 697,000 Jobs

  March 4, 2009

  Private sector employment decreased by nearly 700,000 in February, according to the latest report from payroll giant ADP.

• Invoicing Mistakes Threaten Cash Flow

  March 4, 2009

  The economic crisis is choking off cash flow at many companies, but invoicing problems are hurting cash flow too, according to a new study.

• AIG Sues over Taxes and is Sued for Fraud

  March 4, 2009

  American International Group, which is receiving between $152 billion and $163 billion so far in taxpayer bailout funds, has sued the federal government to recover over $306 million for 1997 taxes, penalties and interest that the insurance company claims it was illegally charged.

• Make Financial Statements Less Frustrating

  March 3, 2009

  Are you able to get what you need from reviewing financial statements?

• Hiring Mostly Flat in Accounting Jobs

  March 3, 2009

  About 86 percent of CFOs report a desire to maintain their current staff levels in the next three months, but 2 percent predict decreases in accounting and finance personnel in the second quarter, according to a survey by staffing services company Robert Half International.

• Auditing Clarity Project Completed

  March 3, 2009

  The International Auditing and Assurance Standards Board has completed a project aimed at updating and clearing up ambiguities in auditing standards.

• Geithner Defends Budget and Tax Policies

  March 3, 2009

  Treasury Secretary Timothy Geithner explained the Obama administration's budget and tax plans, and his handling of the financial industry bailout, to wary lawmakers in a congressional hearing.

• Embattled Freddie Mac CEO Resigns

  March 2, 2009

  Freddie Mac CEO David Moffett has submitted his resignation after running the troubled housing lender since only last September.

• Town Sues KPMG over Madoff Feeder Fund

  March 2, 2009

  The town of Fairfield, Conn., has filed a lawsuit against KPMG and an investment advisor after its employee retirement programs lost an estimated $40 million in two hedge funds that invested all their assets with Bernard Madoff.

• Groups Partner on Fraud Deterrence Training

  March 2, 2009

  The International Association of Consultants, Valuators and Analysts is launching a fraud deterrence training program in partnership with the fraud and forensic consulting firm Cendrowski Corporate Advisors.

• Tax & Financial Planning News

  March 1, 2009

  Crisis center launched; Avalara launches blog; Copanion names CFO; Morningstar ponders credit ratings; CCH names sales tax team; Advent net jumps; ADP net and sales rise; and SpeedTax starts channel program.

• Bill Would Beef up Broker-Dealer Auditor Oversight

  February 27, 2009

  Rep. Paul Kanjorski, D-Pa., has introduced a bill in Congress to close a legal loophole that allowed Bernard Madoff's tiny auditing firm to avoid scrutiny.

• Congressman Asks IRS for Tax Relief of Madoff Victims

  February 27, 2009

  Rep. Gary Ackerman, D-N.Y., has written to Internal Revenue Service Commissioner Douglas Shulman asking him to provide tax relief to investors who were swindled by Bernard Madoff's $50 billion Ponzi scheme.

Related Articles

• Secrets and bonuses

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• Survey: Biz Professionals See Uptick in Recovered Funds

• Accountants Advocated for Reform During Crisis

• Small Businesses Skeptical of Credit Availability

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