Michael Cohn

The American Institute of CPAs and the National Association of State Boards of Accountancy have proposed to create a “Retired-CPA” status to deal with the wave of Baby Boom retirees in the profession.

Patterson & Company CPAs, a tax and accounting services firm that specializes in the restaurant and professional services industries, has acquired the Louisville, Ky., practice of Billy D. Morgan, CPA.

S&P 500 companies are being more transparent about how their audit committees are choosing and paying audit firms.

Employers added 182,000 jobs in the private sector last month, according to payroll giant ADP, although there were slowdowns in some areas, including professional and business services and among large companies.

Internal Revenue Service commissioner John Koskinen told a group of tax practitioners that budget cuts at the agency are harming not only taxpayers, but tax practitioners as well, and warned that unless Congress acts on tax extenders legislation, tax season might need to be delayed next year. At the same conference, National Taxpayer Advocate Nina Olson complained of declining taxpayer service levels by the IRS and obstructions to the work of her office on behalf of taxpayers.

Small businesses continued to hire more workers last month, but the pace of job growth is slackening, according to a new report.

BDO USA has re-elected Wayne Berson to a second term as CEO of the firm.

President Obama signed into law on Monday a two-year budget deal that Congress approved last week to raise the debt limit and avert a default. To help pay for it, the bill includes a provision that will make it easier for the Internal Revenue Service to audit large partnerships, including hedge funds, private equity firms and even accounting firms.

The American Institute of CPAs’ Financial Reporting Executive Committee has released for comment working drafts of revenue recognition implementation issues it has identified for the aerospace and defense industry and the investment asset management industry.

Deloitte has acquired Bonaccorso & Associates, a boutique accounting firm in Vaughan, Canada that serves small and midsize private companies with a focus on family businesses.

CliftonLarsonAllen has expanded its presence in Arizona by merging in a Tucson firm, Camp Lowell CPAs, and in Pennsylvania by acquiring KFMR Katz Ferraro McMurtry PC in Pittsburgh, effective Nov. 1, 2015.

PricewaterhouseCoopers Canada has bolstered its presence in British Columbia by combining practices with RHB Schmitz de Grace, a local chartered accounting firm based in Prince George, B.C.

KPMG LLP has acquired all of G2 FinTech’s U.S. tax software and intellectual property, including G2’s main product, TaxGopher.

Expense management software developer Certify has released its annual list of the most eye-opening business expenses submitted by travelers in the past year.

The Securities and Exchange Commission adopted final rules Friday to allow companies to offer and sell securities through crowdfunding.

Reporting of non-financial performance data is a problem for more than half of nonprofits, according to a new survey.

The vast majority of companies are not prepared for the major changes in accounting and business operations required by the new revenue recognition standard, according to a new survey.

Reducing the corporate tax rate to 25 to 30 percent would discourage profit shifting by multinationals, according to a new report from the Tax Foundation.

The Association of Chartered Certified Accountants and the Institute of Management Accountants held a panel discussion at St. John’s University in New York on Wednesday evening to discuss how accountants and C-suite executives need to manage business risks.

The Internal Revenue Service said Thursday that federal tax preparers will soon pay less for a preparer tax identification number, or PTIN, and reminded non-credentialed tax preparers of major upcoming changes regarding which preparers can represent clients in matters before the IRS, starting next year.