The Latest

Jill Martin has been named partner in the tax services group at ParenteBeard LLC.

Time is running out for U.S. lawmakers and President Barack Obama to agree on a budget deal by year end to avoid triggering more than $600 billion in tax increases and spending cuts, Sen. Joseph Lieberman said on Sunday.

The Financial Accounting Standards Board has released the 2013 U.S. GAAP Financial Reporting Taxonomy.

Grant Thornton reported global revenue growth of 10.4 percent in U.S. dollars, to a record $4.2 billion, for the year ended Sept. 20, 2012. Growth in local currency terms was even higher, at 13.2 percent.

In the face of major uncertainty regarding the upcoming tax season, Jeff Gramlich, president of tax software developer CCH Small Firm Services, is urging tax preparers to get in touch and stay in touch with their clients.

The Financial Accounting Foundation has appointed Charles Cox, John Dugan and Teri List-Stoll to its Board of Trustees, and accepted the resignation of Mary Stone, who earlier this month was accused of improprieties by the Securities and Exchange Commission.

IT managers still have some mixed feelings about the cloud, according to a recent survey from Lieberman Software Corporation 51 percent of respondents indicated they don’t trust the cloud for any of their personal data while 91 percent believe the move to cloud services has been more convenient for their organization’s in-house IT team.

Paul Beswick is the Securities and Exchange Commission’s new chief accountant.

The U.S. Attorney for the Southern District of New York earlier this week charged three current and former client advisors at Swiss bank Zuercher Kantonalbank with conspiring with at least 180 U.S. taxpayers and others to hide more than $420 million in offshore accounts from the Internal Revenue Service.

Carl George decided to retire after spending 42 years at the Top 100 Firm.