Audit & Accounting

The Securities and Exchange Commission voted to approve the Public Company Accounting Oversight Board's 2023 budget and annual accounting support fee ahead of the holidays.

"Proof of reserves is neither a full accounting of the assets and liability of a company, nor does it satisfy segregation of customer funds under the securities laws," said SEC chair Gary Gensler.

The Internal Revenue Service would be legally mandated to annually audit the president and publish the results under legislation passed by the House.

Plus, the Institute of Internal Auditors expressed serious concerns about a recent board proposal on audit confirmations.

As 2023 comes into view, the specter of 87,000 new IRS employees has gotten the attention of accountants and bookkeepers — as well as small and midsized business owners.

The crypto exchange exec landed in the U.S. to face a range of criminal charges just as two of his long-time associates said they were cooperating with prosecutors.

The Financial Accounting Standards Board is extending the period of time to use its LIBOR-to-SOFR relief guidance.

Accounting's most influential outline how the profession can better attract new talent.

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "The profession is having trouble attracting new talent, in general and CPA exam candidates in particular. Why do you think that is?"

The move caps a three-year legal saga initiated by Democrats to obtain and release the former president's closely held financial documents.