Michael Cohn

The United Kingdom’s Financial Reporting Council, which oversees auditing firms, said Monday it is implementing the recommendations of an independent review of sanctions for auditors, accountants and actuaries, which include increasing the fines to £10 million ($14.1 million) or more for “seriously poor audit work” by a Big Four firm.

The Internal Revenue Service is continuing to expand its efforts to detect tax refund fraud this tax season, according to a new report.

As recently as 2010, the Internal Revenue Service used to audit nearly all 'corporate giants.'

The Internal Revenue Service and its partners in the tax industry and state tax authorities issued a warning Monday about a wave of e-mails from cybercriminals purporting to come from “IRS Refunds.”

Biotech, pharmaceutical, medical device and related businesses are dealing with recent accounting standards, plus a new tax law, amid a changing landscape for their industry.

The American Institute of CPAs is asking the Internal Revenue Service to provide additional details on how it will be treating foreign corporate income under the new tax law.

The Internal Revenue Service is being urged to consider modifying the 1040 form to simplify claiming the Earned Income Tax Credit.

Larry Smith, who served as a member of the Financial Accounting Standards Board from 2007 until 2017, is watching some of the standards he worked on for a decade now being rolled out, but he believes the board should be doing more on performance reporting and the FASB Accounting Standards Codification.

Private sector employers added 241,000 jobs in March, according to payroll giant ADP, as the new tax law and the strong economy helped boost hiring.

The Center for Audit Quality has released a publication to help audit committees oversee their companies’ implementation of the new leasing standard.

New York State approved a fiscal year 2019 budget that contains provisions to lessen the impact of the new limitations on state and local tax deductions under the Tax Cuts and Jobs Act that Republicans in Congress passed last December.

Job growth at small businesses dipped slightly last month, according to payroll giant Paychex, although the pace of wage growth saw some gains.

The Internal Revenue Service and the Treasury Department released new guidance Monday on computing the business interest expense limitation under the new Tax Cuts and Jobs Act.

The Governmental Accounting Standards Board released a new statement spelling out which liabilities should be disclosed related to debt.

The institute is asking for immediate info about the disallowance of some popular write-offs.

The Internal Revenue Service and the Treasury Department have issued details about the withholding on the transfer of non-publicly traded partnership interests by foreign persons under the Tax Cuts and Jobs Act, along with guidance on the “transition tax” on the untaxed earnings of overseas subsidiaries of U.S. companies.

Andersen Tax has been spreading its network of tax and legal services firms across the world after settling a legal dispute last year with a French firm that had laid claim to the Arthur Andersen name.

Ken Crutchfield, vice president and general manager of Bloomberg Tax Technology, discusses the changes in the leasing standard that accountants and their clients need to prepare for this year.

A 36-year-old accountant at a financial firm was called in as a last-minute replacement for the Chicago Blackhawks, and managed to make seven saves without letting a single puck in the net.

The American Institute of CPAs has appointed a new executive in charge of its professional standards.