The Latest

The Monitoring Board and the Trustees of the IFRS Foundation have released a pair of key reports on governance and strategy that the Securities and Exchange Commission has been awaiting before making its long-delayed decision on whether to incorporate International Financial Reporting Standards into the U.S. financial reporting system.

Small business owners are the most optimistic they have been since July 2008 and expect increased revenues and more hiring this year, according to a new survey by Wells Fargo and Gallup.

For most accounting firms, the Internet is game changing.

Blackman Kallick Elects 3 Partners

Intuit has made several updates to its Tax Research and Tax Import for Lacerte and ProSeries products, in response to a recent survey of accounting professionals.

The Public Company Accounting Oversight Board has imposed a $2 million civil penalty against Ernst & Young, the largest civil money penalty to date in the PCAOB’s 10-year history, and censured the firm for audit failure, while sanctioning four of E&Y’s current and former partners.

Accounting and business consulting firm Hill, Barth & King, has acquired Carson & Co. LLC, CPAs, of Sewickley, Pa., expanding the firm’s presence in Pennsylvania and construction industry clientele.

A pair of Democratic senators who chair influential committees have introduced legislation aimed at closing a variety of tax loopholes to reduce the budget deficit.

Technology consultancy Arxis Technology Inc., a major Sage and SAP partner, has joined the Intacct channel, adding to the growing line of cloud-based business technologies the firm represents.

The Internal Revenue Service has released an expanded version of its smartphone application, IRS2Go, with a new YouTube video feature and additional tax help for taxpayers.