The Latest

The Internal Revenue Service has prohibited tax preparers from electronically filing tax returns before it receives all W-2, W2G and 1099-R forms.

New York Attorney General and Governor-elect Andrew Cuomo has filed suit against Ernst & Young, charging the firm with helping former client Lehman Brothers engage in accounting fraud.

Congress has passed legislation exempting accountants from the Federal Trade Commission’s Red Flags Rule requiring businesses to implement a written identity theft protection program.

Grant Thornton LLP has elected audit partner Jacqueline Akerblom to the firm’s Partnership Board.

A UBS client in Seattle has pleaded guilty to filing a false tax return that did not disclose his holdings in secret Swiss bank accounts.

To help bolster technology governance among its nonprofit and government clients, CPA firm Wipfli has launched TechPro, a risk management tool for information security.

Regional CPA and business advisory firm Cherry Bekaert & Holland is adding 14 partners and 100 associates from Berenfeld Spritzer

IMGCAP(1)]As busy season arrives, the focus turns toward long hours, back-to-back client meetings, stacks (or electronic drawers) of files, and the frantic pace of filing deadlines.

In a recent speech, a senior European Commission official warned accountants that a drastic tightening of auditing rules in the European Union is under consideration in Brussels, including possible segregation-of-service rules on client auditing and accounting services, and requiring auditors to give "an unencumbered opinion of a situation", as opposed to the current "historical review."

Canada's transition to International Financial Reporting Standards, while improving transparency and comparability of Canadian companies, will likely not affect credit ratings, according to a new report from Moody's Investor Service.