Audit & Accounting

AICPA vice president of taxation Edward Karl stated, “Taxpayers will be in one of three situations – they will have had health insurance that met the requirements for minimum essential coverage under the Affordable Care Act, will have qualified for an exemption or will owe the penalty for not having qualified health insurance. In order to meet the information reporting requirements, taxpayers will have to gather new records and become familiar with new forms, instructions and terms.”

An accounting scandal, a failed merger and the departure of top executives would normally make a company toxic to acquirers. Not for Salix Pharmaceuticals Ltd., the subject of a $11 billion bidding war that drove the drugmaker’s stock close to its highest-ever price.

The School of Accountancy at Georgia Southern University announced today that they will host a one-week seminar from Aug. 3-7 entitled, Essentials of Fraud and Forensic Accounting.The seminar is open to potential graduate students interested in pursuing a Master of Accounting with a concentration in Forensic Accounting, along with accountants, attorneys, and law enforcement professionals seeking continuing professional education (CPE) credit.

The International Accounting Standards Board issued an overview of its upcoming lease accounting standard Monday, saying it plans to complete its deliberations on the long-awaited standard this month and to issue the standard later this year.

Check out the digital edition of the March 2015 issue of Accounting Today.

The Institute of Certified Public Accountants in Ireland and the South African Institute of Public Accountants have signed a memorandum of understanding establishing a partnership to distribute an online CPA Certificate in International Public Sector Accounting Standards Financial Reporting in South Africa.

While the major international accounting firms no longer do business in Iran, the country’s own accounting firms have been faring well, according to a new report.

The Institute of Internal Auditors plans to launch a Financial Services Audit Center this summer to help internal auditors at financial firms.

Financial Accounting Foundation president and CEO Terri Polley sits down with Accounting Today managing editor Tamika Cody to share how the foundation plans to attract more people of color to the profession and why the FAF teamed up with the National Association of Black Accountants.

BDO USA has issued its annual list of the top issues it expects to be raised at the annual general meetings of shareholders during the coming year.