The Latest

The accounting profession needs to take advantage of current conditions to take critically important steps to ensure its future, according to American Institute of CPAs president and CEO Barry Melancon.

As 2015 comes to a close, businesses are once again facing uncertainty as Congress has yet to act on a host of important provisions that expired at the end of 2014.

CPA.com announced new partnerships and resources, including a business process outsourcing software buyer’s guide and leadership training program, during the company’s Digital CPA Conference Dec. 7-9.

The International Public Sector Accounting Standards Board has established a consultative group that will offer advice to the board on setting financial reporting standards for government entities.

The Internal Revenue Service has begun a new program, the Early Interaction Initiative, to more quickly identify employers who are falling behind on their payroll or employment taxes and help them get caught up on their payment and reporting responsibilities.

The Financial Accounting Foundation, the parent organization of the Financial Accounting Standards Board, the Governmental Accounting Standards Board and the Private Company Council, has elected Charles H. Noski as its new chairman, succeeding Jeffrey J. Diermeier, whose term ends on December 31.

Nonprofits are expressing concern about proposed regulations from the Internal Revenue Service and the Treasury Department that could give charities the option of providing Social Security numbers of donors who contribute more than $250 to their organizations.

The American Institute of CPAs is objecting to a bill that was introduced in the House giving the Internal Revenue Service the statutory authority to regulate tax return preparers.

New England firm BlumShapiro recently presented a check for $1,800 to Shelton, Conn. non-profit Spooner House - which provides "food, shelter and support services to people in need" - via the firm’s employee giving through its Jeans for Charity Program.

CohnReznick CEO Frank Longobardi discusses how his firm has grown since the merger between J.H. Cohn and the Reznick Group over three years ago, how the transition went, and his plans for future mergers.