Michael Cohn

The requirements in the Sarbanes-Oxley Act for outside audits of internal control may actually be penalizing companies that reveal problems with their controls, according to a new study.

The Internal Revenue Service needs to do better at ensuring that health insurance policy issuers and self-insured plan sponsors pay a fee required under the Affordable Care Act known as the Patient-Centered Outcomes Research fee, according to a new government report.

The Financial Accounting Standards Board issued for public comment Wednesday a proposed accounting standards update that would defer the effective date of its new revenue recognition standard by one year.

Members of the International Forum of Independent Audit Regulators agreed in principle on the text of a multilateral arrangement for exchanging information about audit firms during a meeting in Taipei.

The International Accounting Standards Board voted Tuesday to propose a one-year deferral of the revenue recognition standard that the IASB converged last year with the U.S. Financial Accounting Standards Board.

Senior financial professionals polled by the Institute of Management Accountants reported little impact on their hiring plans as a result of the Affordable Care Act.

The Internal Revenue Service needs to make further improvements in how it audits partnership tax returns, including assessing how much additional tax the partners owe after a partnership return is audited, according to a new government report.

The American Institute of CPAs is pushing to improve the quality of employee benefit plan audits, in part by discouraging unqualified firms from offering the service, in advance of an upcoming report from the U.S. Department of Labor that is expected to find continuing problems with the quality of one-third of the audits.

A New Jersey CPA and lawyer has been sentenced to 27 months in prison for conspiring with a mortgage broker to extort and defraud police officers and other victims by falsely claiming they were the subjects of Internal Revenue Service criminal investigations that he could resolve if they paid up to $20,000.

The American Institute of CPAs has issued a set of questions and answers on the services a practitioner can provide in connection with the American Land Title Association’s Best Practices Framework for real estate settlement.

A Miami resident has been charged with threatening to destroy the Internal Revenue Service building with either fire or a bomb.

H&R Block said Monday that two-thirds of tax filers among its client base who received health insurance coverage under the Affordable Care Act via the state or federal insurance marketplaces had to pay back an average of $729 of the Advance Premium Tax Credit, cutting their potential refund by nearly one-third.

The Financial Accounting Standards Board has proposed three accounting standards updates related to employee benefit plans and another update for electricity contracts.

Senators Jack Reed, D-R.I., and Chuck Grassley, R-Ia., have re-introduced legislation to make disciplinary proceedings of the Public Company Accounting Oversight Board public in order to expose auditing deficiencies at firms or the companies they audit in a timely way and help curb violations.

The Clinton Foundation is reportedly planning to re-file five years’ worth of tax returns after questions arose over donations by foreign governments to the charitable foundation run by Bill, Hillary and Chelsea Clinton.

Chief audit executives in the power and utility industry rank cyber security as the highest risk and biggest concern for their industry, according to a new report from PricewaterhouseCoopers.

The Governmental Accounting Standards Board has voted to begin research on improving the disclosures by state and local governments about going concern and debt.

Rosenberg Associates has begun its annual survey of CPA firms.

Sam’s Club, the membership warehouse club owned by Wal-Mart, is teaming up with a New York City-based accounting firm known as 1-800Accountant to offer accounting and tax services that can be accessed via mobile devices such as smartphones and tablets.

Rep. Bonnie Watson Coleman, D-N.J., has introduced legislation that would provide relief to low-income and economically vulnerable Americans who would otherwise be subject to wage garnishments by the Internal Revenue Service.