Michael Cohn

The board released an exposure draft of a proposed standard for multi-employer retirement plan obligations.

The total value of goodwill impairments recorded by U.S. public companies more than doubled in 2020 during the first year of the COVID-19 pandemic, according to a new study, and the same may happen again this year as geopolitical tensions rise.

The Governmental Accounting Standards Board set the effective date for the GASB 87 leases standard at June 15, 2021, after pushing it back by 18 months during the pandemic, but many state and local governments are apparently behind on implementing it.

Board staff called attention to some important considerations for auditors as they plan and perform audits that may be affected by the ongoing war in Ukraine.

The unemployment rate fell two-tenths of a point to 3.6%, the U.S. Bureau of Labor Statistics reported Friday, and two previous months' job gains were revised upward.

The Financial Accounting Standards Board released an accounting standards update aimed at improving the usefulness of information offered to investors about certain loan refinancings, troubled debt restructurings, vintage disclosures and gross write-offs, amending its credit losses standard.

Employees across the world defrauded their employers of more than $4.7 trillion each year from 2020 to 2022, according to a new report.

The board unveiled two proposed standards for general sustainability-related and specific climate-related disclosure requirements.

The service has been auditing the poorest wage earners more than higher-earning taxpayers, according to an updated report.

The NTA issued a directive calling on the service to implement scanning technology as a way to reduce the backlog of unprocessed tax returns by 2023.

The board approved charters for the membership and activities to revive its old Investor Advisory Group and set up a new Standards and Emerging Issues Advisory Group.

Private sector employers added 455,000 jobs this month, payroll giant ADP reported Wednesday, as the economy continued to bounce back despite the ongoing pandemic, although continuing labor shortages held back stronger growth.

The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans.

The commission’s proposed rule would involve accountants and auditors more heavily in their clients’ efforts to provide assurance on sustainability reporting.

Employment growth at small businesses moderated slightly in March, but wages continued to increase, according to payroll giant Paychex.

Tax proposals in the Biden administration’s budget include plans to raise the corporate tax rate to 28% and to tax the unrealized capital gains of “extremely wealthy” individuals.

The board issued an accounting standards update aimed at better aligning hedge accounting with an organization’s risk management strategies.

The Internal Revenue Service is suspending a number of notices it usually mails to tax-exempt organizations and governmental entities when it’s missing their tax returns, citing the pandemic and the IRS’s own backlog of unprocessed tax returns and correspondence.

The Internal Revenue Service updated its frequently asked questions page on how tax professionals should deal with the third round of Economic Impact Payments for their clients.

Over three-quarters of the audits conducted by the Internal Revenue Service under its centralized partnership audit regime resulted in no change in taxes, according to a new report.