Audit & Accounting

The Internal Revenue Service issued a revenue procedure that provides guidance on the treatment of taxpayers who accept certain types of settlements of potential legal claims relating to auction rate securities.

Wolters Kluwer Tax and Accounting has acquired CI Consultancy Limited, an Irish developer of operational risk control systems for financial institutions and corporations.

Forty percent of CEOs surveyed by Grant Thornton agree with the Securities and Exchange Commission's decision to allow foreign firms listed on U.S. exchanges to file financial statements in accordance with International Financial Reporting Standards, without reconciling them to U.S. generally accepted accounting principles.

The New York State Society of CPAs plans to hold a conference next month on international accounting standards.

Neil Romano detests the word "accommodation" when it refers to people with disabilities.

Testifying before the Senate Committee on Banking, Housing and Urban Affairs about the financial industry bailout package, Federal Reserve Chairman Ben Bernanke defended fair value accounting, but recommended that banks should be able to sell their assets at the "hold-to-maturity" value to the federal government.

The Rehmann Group plans to merge with MSW Group to create Michigan's second largest wealth management and consulting firm.

The labor supply may experience shortages in coming years as more Baby Boomers retire, according to a study by KPMG.

Below is a reproduction of the main portion of the opening page of a Web site that I visit quite often.

The Treasury Department has expanded its financial bailout program to $700 billion in an effort to relieve banks and other financial institutions of their troubled mortgage assets.