WebCPA Staff

Sikich LLP has merged in the accounting, tax and business consulting practice of Frederick M. Marcus & Co., of Rockford, Ill.

SunGard has released a new version of its VPM portfolio accounting solution for hedge funds.

The Senate overcame a key procedural hurdle early Monday morning on the arduous journey to approving health care reform legislation with a 1:00 am vote approving an amendment by Senate Majority Leader Harry Reid, D-Nev., that made changes to secure the 60 votes needed to end a filibuster.

The Center for Audit Quality has issued a request for proposals to fund independent academic research on projects of interest to the auditing profession.

The House passed two bills earlier this month with provisions related to the use of Extensible Business Reporting Language, or XBRL, the interactive data-tagging technology that the SEC has begun requiring large public companies to use when filing their financial statements.

A group of 13 senators has written to the Appropriations Committee requesting funds to extend Small Business Administration Recovery Act lending programs.

BKD LLP CEO Neal Spencer has been re-elected to a second three-year term by the firm’s partners.

Ernst & Young has agreed to pay $8.5 million to the Securities and Exchange Commission after the firm and six of its former and current partners were charged with playing a role in accounting fraud at Bally Total Fitness Holding Corp.

The House narrowly passed a jobs bill aimed at reducing unemployment, but the legislation’s prospects are uncertain in the Senate.

Intuit is releasing a Software as a Service version of its ProLine Tax software, making it available over the Internet like the company’s consumer-oriented TurboTax.

The American Institute of CPAs and the Financial Accounting Foundation, which oversees the Financial Accounting Standards Board, are setting up a “blue-ribbon panel” to discuss how U.S. accounting standards can best meet the needs of users of private company financial statements.

An income tax treaty between the United States and Italy has taken effect after a decade-long delay.

The Public Company Accounting Oversight Board has decided to re-propose seven auditing standards and amendments that would change the requirements for assessing audit risks.

The IRS has chosen to use TaxWise software from CCH Small Firm Services at its tax assistance sites for the 15th consecutive year.

KPMG International’s annual revenues fell to $20.11 billion internationally for the fiscal year ending Sept. 30, compared to $22.69 billion in the previous year, although the firm saw an uptick in some parts of the world.

The ripple effect of the economy, coupled with fewer and weaker business starts across the country, resulted in a 10 percent drop in second-quarter profits for payroll and benefits outsourcing provider Paychex Inc.

A biennial survey by the National Society of Accountants found that the cost of preparing an itemized Form 1040 with a Schedule A and a state tax return averages $229.

Senate Finance Committee Chairman Max Baucus, D-Mont., dropped efforts to temporarily extend the estate tax at its current level in the face of Republican opposition.

A new report from the Bay Street Group research firm describes the key factors driving new opportunities for accounting firms in this difficult business environment.

The Securities and Exchange Commission has voted to require companies to disclose more information about their compensation practices and the background of their board members.