Michael Cohn

A group of lawmakers has introduced legislation to roll back guidance from the Treasury Department that prohibits employers from using stand-alone health reimbursement arrangements to reimburse employees for health care-related expenses.

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board, are reassessing its structure and effectiveness.

A Bulgarian hacker has admitted to participating in a $6 million fraudulent tax return scheme in which he used tax-filing information stolen from at least four major CPA firms in the U.S.

New research indicates that many investors tend to overlook the vague misgivings that auditors might express in letters included with their audit reports, even though those warnings often turn out to be a predictor of future trouble with a company’s financial statements.

Accountants are getting ready to implement the new revenue recognition standard, even though a one-year delay on the date it takes effect seems all but certain.

KPMG LLP announced Monday the incoming leaders of the U.S. firm’s audit, tax and advisory businesses, along with the new heads of operations and its Innovation & Enterprise Solutions unit, and other key roles.

The Institute of Internal Auditors has enhanced its International Professional Practices Framework, which has provided internal auditors worldwide professional guidance in various forms since 1947, in response to more recent risks, while also releasing a report on the current pulse of the internal audit profession.

The Securities and Exchange Commission has reappointed Public Company Accounting Oversight Board member Lewis H. Ferguson to a second term on the board.

The Justice Department said Friday that British Petroleum has agreed to pay a record-breaking $18.7 billion settlement to resolve claims related to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010, but advocacy groups are warning that the settlement is largely tax deductible for BP.

The U.S. Bureau of Labor Statistics reported Thursday that total nonfarm payroll employment increased by 223,000 jobs in June, sending the unemployment rate down two-tenths of a point to 5.3 percent.

The American Accounting Association has retracted 25 articles written or co-authored by a former accounting professor who was forced to resign after his university uncovered a “pattern of misconduct.”

The Federal Bureau of Investigation raided the offices of a Connecticut accounting firm Tuesday and seized documents in connection with a fraud complaint.

Americans donated an estimated $358.8 billion to charities last year, according to the annual Giving USA report, the highest total ever in the 60-year history of the report.

The Sustainability Accounting Standards Board has issued provisional standards for seven industries in the consumption area, including agricultural products; meat, poultry and dairy; processed foods; non-alcoholic beverages; alcoholic beverages; tobacco; and household and personal products.

The Securities and Exchange Commission has voted Wednesday to publish a concept release asking for public comments about the current audit committee disclosure requirements, focusing particularly on toughening the committee’s oversight of independent auditors.

The Governmental Accounting Standards Board has issued two exposure drafts for state and local governments proposing accounting and financial reporting guidance related to external investment pools and how certain component units should be presented in a governmental reporting entity’s financial statements.

In the wake of high-profile data breaches at the Internal Revenue Service and other federal agencies, a new government report warns the IRS against expanding its online customer service options before completing key technology upgrades.

The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.

Small business groups are sounding a warning about an obscure Internal Revenue Service rule that takes effect Wednesday imposing heavy fines on small businesses for helping defray the cost of their workers’ insurance or medical expenses.

The California Society of CPAs has elected Jennifer Ziegler as its new president and Greg Burke as president of the CalCPA Education Foundation for 2015-2016.