The Latest

Just in time for the holiday season, CPA firm consultant Rita Keller of Keller Advisors has decided to do her own version of a scene from the now-classic Jean Shepherd movie “A Christmas Story,” adapted for accountants.

The impact of a class-action settlement can be devastating for a company not just in terms of the potential financial settlement costs and related expenses, but also in terms of degradation to the financial statements.

The Public Company Accounting Oversight Board has released its latest inspection reports on Deloitte & Touche, Ernst & Young and Grant Thornton, and identified deficiencies with several of the audits it inspected.

A new Web site aims to establish a competitive bidding system where tax preparers can compete for clients.

The Securities and Exchange Commission has issued an Investor Bulletin to help purchasers of municipal bonds better assess the bonds’ credit risks.

Small businesses may be facing a variety of regulatory changes after January 1.

Congress is scheduled to return Thursday, with one of its top priorities a deal to avert the December 31 “fiscal cliff” deadline of looming tax increases and automatic spending cuts, but it will need to work quickly or reach some type of interim agreement.

Mitch McConnell, the Senate minority leader who has stayed largely outside the U.S. budget fight this year, will be thrust into prominence just five days before the deadline for tax increases and spending cuts.

The IRS has modified its Voluntary Classification Settlement Program, which lets employers change the tax treatment of their employees.

Movie production company Nu Image has filed suit against a former subsidiary of Starz Media over the accounting for three of its movies, starring actors such as Al Pacino, Robert De Niro and Diane Keaton.