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The Financial Reporting Council hit PwC with a $3.8 million penalty and one of its accountants with a $43,250 penalty over their audit of Sanjeev Gupta's Wyelands Bank.

Traditional talent development models rely on in-house staff and struggle to keep pace with the changes accounting firms face.

Forming a trust now and funding it after Congress decides whether to keep the current gift tax exemption rate could make for an effective preemptive strike.

GASB released a study on utilization of GAAP among state and local governments and found all the states are using GAAP, but only about three-quarters of localities are.

ERP solutions provider Acumatica announced the rollout of its R1 release, sporting enhanced AI features as well as more industry-specific solutions.

The Public Company Accounting Oversight Board has created three videos from its staff on its quality control standard's monitoring and remediation process.

The Internal Revenue Service is reportedly getting close to an agreement to share information such as taxpayers' addresses with immigration officials upon request.

When small CPA shops suddenly end, clients are left to scramble for a replacement — and any enterprise value that the owner may have had withers away.

Tax season usually is the most stressful period of the year for accountants. Staying calm will help you, your clients and staff.

Congressional Republicans returning to Washington on Monday will tackle their toughest test yet, negotiating a massive tax bill package.