WebCPA Staff

More than half of the business professionals polled during a recent Deloitte webcast said the level of transparency the Obama administration promises to attach to bailout spending is not possible.

XBRL US has published the 2009 edition of the interactive data tags that the Securities and Exchange Commission will accept for coding financial statements in accordance with U.S. generally accepted accounting principles.

AuditSolutions has changed its name to Lavante and closed on $5 million in venture capital funding.

Even as the Securities and Exchange Commission weighs the comments that were due this week on its proposed roadmap to International Financial Reporting Standards, IFRS could be on a convergence path of its own with Islamic accounting standards.

Goldman Sachs and Citigroup reported better than expected financial results last week, but critics are complaining that the two banks bended accounting rules to boost their earnings.

Bernard Madoff’s accountant, David Friehling, is facing an extra month of uncertainty over his legal status after prosecutors filed a continuance with the court.

After six days of deliberation, a Miami jury found two-time Indianapolis 500 racing champion Helio Castroneves not guilty of tax evasion.

Former CPA Dan Wise has been arrested and charged with operating a $67 million fraud.

The Treasury Department’s Inspector General for Tax Administration is urging the IRS to ensure better compliance by tax-exempt organizations that don’t file their tax returns.

The Institute of Chartered Accountants in England and Wales has written to the U.S. Securities and Exchange Commission urging the SEC to adopt International Financial Reporting Standards.

The U.S. Bankruptcy Court has given the go-ahead for Deloitte to acquire substantially all that remains of consulting firm BearingPoint’s North American public services practice for $350 million.

President Barack Obama made a bid to promote his administration’s tax policies the day taxes were due to be filed.