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The chairman of the Financial Accounting Standards Board said Thursday that the FASB staff expects to issue the long-awaited converged standard on revenue recognition that it has developed with the International Accounting Standards Board this month, calling it “a grand achievement for both boards.”

Public Company Accounting Oversight Board chairman James Doty said in a speech Thursday that he is concerned about cuts in audit fees having an impact on the quality of audits as the auditing practice becomes a declining part of the revenue at accounting firms.

Despite delays in expected tax reform, companies are engaging, modeling and planning in order to manage uncertainty, according to survey findings released at Ernst & Young LLP’s Ninth Annual Domestic Tax Conference in New York.

Check out the digital edition of the May 2014 issue of Accounting Today.

Recent highlights from some of our favorite tax bloggers.

PwC announced that its Silicon Valley practice will donate a total of $85,000 to four Silicon Valley-based nonprofit organizations, funded through grants from the PwC Charitable Foundation.

Professors Miller & Bahnson argue that it's time to finally reject IFRS and the IASB for the U.S.

FreshBooks introduced a new ratings and review feature to help customers gain feedback from their clients.

Serenic Corporation announced that A.B. Computer Systems has joined its partner channel.

Xero and H&R Block have formed a strategic alliance to offer Xero as the core small business online accounting platform in Block's Small Business Program suite of services.