Michael Cohn

The American Institute of CPAs has unveiled an exposure draft of a new framework to help CPAs and other financial professionals perform valuations of financial instruments such as derivatives, along with their underlying components.

The Internal Revenue Service and its Security Summit partners in state tax agencies and the tax industry have begun a new education campaign for tax professionals warning them against phishing emails.

Organizations are finally starting to prepare for the new lease accounting standard that will be taking effect in 2019, but as they do they’re running into some unexpected complexities.

Private sector employment increased by 158,000 last month, according to payroll giant ADP, in another sign of the job market moving toward what economists consider “full employment.”

The American Institute of CPAs’ Financial Reporting Executive Committee has released several more working drafts of industry-specific guidance related to various implementation issues involving the revenue recognition standard and is asking for feedback on them.

Employment growth at small businesses declined for the fourth month in a row in June, according to payroll giant Paychex, but wages continued to rise.

BerganKDV has acquired Beltz, Kes, Darling & Associates, a firm based in Farmington, Minn., specializing in servicing charter schools.

HiAccounting has acquired the CPA firm WR Financial, effective June 30, 2017, expanding its presence in Hawaii.

Tax executives are worried about some of the risks to their companies from the Organization of Economic Cooperation and Development’s Base Erosion and Profit Shifting project and U.S. tax reform proposals.

Accounting firms are spending more of their marketing dollars on sponsorships than on advertising, despite getting negative returns from sponsorships, according to a new study.

The Internal Revenue Service has created a new section on its IRS.gov website dedicated to information on the Country-by-Country Reporting rules of the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting project, which aims to discourage tax avoidance by multinational companies.

The financial reporting process keeps 97 percent of CFOs awake at night, according to a recent survey, with only 3 percent of the senior finance execs polled saying they don’t lose any sleep over their organization’s reporting processes or deadlines.

The United States has the smallest “shadow economy” of underground trade in goods and services, compared to 28 other countries, according to a new report from the Association of Chartered Certified Accountants.

A group of more than 100 business leaders and companies are backing the recommendations of a task force on providing a voluntary framework for disclosing climate-related information in financial filings.

Members of Congress introduced bipartisan legislation to require anonymous shell companies to disclose their beneficial owners in an effort to uncover tax evasion, money laundering, terrorism financing and other crimes.

Pennsylvania accounting firms Steger Gowie & Co. and Merves Amon & Barsz plan to merge July 1 to create a combined firm known as Barsz Gowie Amon & Fultz LLC.

The Institute of Internal Auditors has refreshed its online Audit Executive Center with new resources for chief audit executives at internal audit departments.

Clark Schaefer Hackett has merged in LublinSussman Group, a firm based in Toledo, Ohio, effective July 1, 2017.

The Public Company Accounting Oversight Board is continuing to uncover problems with auditor independence during recent inspections of auditors of brokers and dealers.

The Governmental Accounting Standards Board released guidance Wednesday to create a single approach to accounting for and reporting state and local government leases.