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The New York State Society of CPAs is getting behind the efforts of the International Auditing and Assurance Standards Board to clarify the guidance for auditing the valuations of complex or illiquid financial instruments, such as derivatives.

The House Ways and Means Committee approved two separate pieces of legislation on Thursday to repeal the onerous 1099 reporting provisions enacted in 2010, with Republicans and Democrats sharply divided over how the bill would be paid.

Accounting Principals, an accounting and finance staffing provider, has published its 2011 Salary Guide, containing up-to-date information on the current compensation trends of finance and accounting professionals across small, medium and large businesses in the U.S.

Vincent Gray, mayor of Washington, D.C., has asked Big Four accounting firm Deloitte to analyze the District's school budget as it faces a deficit of roughly $600 million.

The House Ways and Means Committee began markup work Thursday on two bills aimed at repealing the expanded 1099 information reporting requirements in the health care reform law and the Small Business Jobs Act.

Half of the Baby Boomer clients who postponed retirement after the economic downturn expect to work at least four years longer than they originally planned, according to CPA financial planners surveyed by the American Institute of CPAs.

IMGCAP(1)]The Minnesota Society of CPAs has released its list of the most outrageous tax deductions proposed by clients.

A new survey by Deloitte found that only 7 percent of companies are well prepared to comply with the new lease accounting standards that have been proposed by the Financial Accounting Standards Board.

Eddie Marmouget has been chosen to lead the National Health Care Group of super-regional firm BKD LLP, as the new national industry partner.

Intuit has added Wells Fargo Advisors to its list of financial institutions included in ProLine Tax Import, which allows tax professionals to securely download their clients’ data directly into their tax returns within Lacerte and ProSeries.