The Financial Accounting Standards Board has issued a new accounting standards update to provide guidance on disclosing uncertainties about a businessís ability to continue as a going concern, while further distancing U.S. GAAP from International Financial Reporting Standards.
The Center for Audit Quality has created an online document to help auditors with the decision-making process so they can form auditing and accounting judgments with the appropriate professional skepticism.
Large, privately held companies in the United States are outpacing their publicly traded counterparts in two key performance metrics, sales growth and profitability, according to an analysis of financial-statement information from 2010 to 2014 by the financial information company Sageworks.
The Internal Revenue Service recovered $576 million in erroneously issued tax refunds last year thanks to outside tips provided by financial institutions and other sources such as tax preparers, more than double the amount from three years ago.
The Public Company Accounting Oversight Board has released a new report showing that auditors of brokers and dealers who were inspected last year continued to have a high number of problems with independence and audit deficiencies.
The Internal Revenue Service has denied tax-exempt status to a group that claimed it was dedicated to protecting the human rights of defenseless victims of involuntary microwave and mind control attacks.
The Internal Revenue Service and the Treasury Inspector General for Tax Administration said they are continuing to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS.