Audit & Accounting

Accounting firm BDO Seidman has been sued in connection with the $50 billion Ponzi scheme run by Bernard Madoff's investment securities business, even though it wasn't Madoff's auditor.

Three of the remaining four defendants in the KPMG tax shelter case were convicted of tax evasion charges.

Tax executives in both the United States and other countries said they are spending more time than ever on risk management, according to a new survey.

President-elect Barack Obama has named Mary Schapiro as the next chairman of the Securities and Exchange Commission, replacing Christopher Cox.

CBIZ is acquiring Tofias in a deal estimated at $55 million as the accounting provider expands its reach across the Northeast to the New England area.

KPMG saw its member firms' combined revenues around the world grow by 14.5 percent to $22.69 billion in the fiscal year ending Sept. 30, 2008.

The Securities and Exchange Commission has officially adopted a rule requiring public companies to begin filing their financial statements in an interactive data format, starting next year.

Marcum & Kliegman has created a task force to advise investors who may have been defrauded by Bernard Madoff and his investment management business.

The Internal Revenue Service plans to make it easier for financially troubled homeowners to avoid federal tax liens that block them from selling their homes or refinancing their mortgages.

The Financial Accounting Standards Board has issued a proposed standard to address the controversial issue of applying fair value accounting to assets and liabilities acquired from a business combination.