Michael Cohn

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The chairman of the Financial Accounting Standards Board said Thursday that the FASB staff expects to issue the long-awaited converged standard on revenue recognition that it has developed with the International Accounting Standards Board this month, calling it “a grand achievement for both boards.”

Public Company Accounting Oversight Board chairman James Doty said in a speech Thursday that he is concerned about cuts in audit fees having an impact on the quality of audits as the auditing practice becomes a declining part of the revenue at accounting firms.

A pair of senators have introduced legislation to prohibit federal workers from receiving bonuses if they aren't in good standing with their agency or the law, in response to a report from the Treasury Inspector General for Tax Administration that IRS employees who owed back taxes received lucrative bonuses.

Richard Chambers, president and CEO of the Institute of Internal Auditors, has released a new book, "Lessons Learned on the Audit Trail," that describes his varied career and the real-life challenges he sees in achieving success in the internal audit profession.

Jobs at small businesses increased last month, with Washington State leading the way along with the Mountain region of the country, according to payroll provider Paychex and the research firm IHS.

Organizations have increased their oversight of business continuity management activities, according to a new survey by KPMG that found 71 percent of respondents indicating they have a senior management advisory or steering committee in place, up from 65 percent in a 2011-2012 survey.

Private sector employers added 220,000 jobs in April, in a sign of a more robust economy taking shape, according to the latest employment report from payroll giant ADP.

CCH has published a new tax briefing examining recent federal tax developments and strategies for this past tax season, and how they may affect taxpayers in future tax seasons.

The American Institute of CPAs has issued new technical practice aids to help accountants dealing with recent changes by the Financial Accounting Standards Board stemming from recommendations from the Private Company Council.

The Internal Revenue Service is modifying and clarifying the regulations under Section 367(b) of the Tax Code relating to the treatment of property used to acquire parent stock or securities in certain triangular reorganizations involving foreign corporations, colloquially referred to as the “Killer B regulations,” to close loopholes in the anti-abuse rules.

The Internal Revenue Service plans to amend the regulations for the treatment of U.S. taxpayers who own passive foreign investment company stock through tax-exempt organizations.

The number of accounting class-action settlements increased for the second straight year in 2013, but remained relatively low compared to the previous decade, according to a new study.

The House has unanimously passed the Digital Accountability and Transparency Act, also known as the DATA Act, on Monday, following Senate passage earlier this month and sending the legislation to President Obama’s desk for his signature.

U.S. business optimism is at its highest level since 2004, according to a new survey by Grant Thornton.

For both consumers and corporations, the lower the income, the higher the rate of tax penalties, according to new research.

Privately held companies appear to be relatively stable and strong, as indicated by their balance sheets and income statements, according to a new report from Sageworks, a provider of data on private companies.

Actor James Franco’s accounting firm is embroiled in a lawsuit over accusations that his former talent manager illegally diverted money from the actor’s commissions to fuel a gambling habit.

The Internal Revenue Service has released a draft of an easier-to-use Form 1023-EZ for charities that are seeking tax-exempt status.

CohnReznick LLP, the 10th largest accounting, tax, and advisory firm in the U.S., has unveiled a multimillion-dollar advertising campaign with longtime spokesman Joe Torre that aims to convey the firm’s deep expertise helping clients navigate and succeed in today’s changing business landscape.