The Latest

I haven’t yet read the 2,400-plus pages of the Health Care Reform Bill (the Patient Protection and Affordable Care Act) that President Obama signed into law on Tuesday. Not even the hundred-plus pages of tax provisions in the bill. But from talking to those who have, it looks like there is enough in it to keep tax professionals occupied for awhile.

Ernst & Young has sent a letter to its clients defending its audits of Lehman Brothers in the wake of a bristling report by a bankruptcy examiner probing the causes behind Lehman’s collapse.

The Securities and Exchange Commission's Office of the Chief Accountant has selected eight professional accounting fellows for two-year terms beginning in 2010:

Greg Schwartz has joined LarsonAllen as a principal with the firm’s credit union practice, an industry the firm has been serving since the late 1970s.

The biggest takeaway from the recession for employers could be taking better care of their workers, according to a recent survey of chief financial officers.

Accounting and risk advisory services provider Jefferson Wells has established an alliance with Sawyer & Co., a specialist forensic and investigative accounting firm. The alliance agreement was completed on March 1, 2010.

The Senate voted 56-43 on Thursday to approve a set of improvements to the sweeping health care reform bill that was passed by the House on Sunday night, but it needed to send the bill back to the House after two provisions were changed in the student lending part of the bill.

The Securities and Exchange Commission has appointed Deloitte partner Howard A. Scheck chief accountant in the Division of Enforcement.

IRS Commissioner Doug Shulman told a congressional panel about the IRS’s newly proposed regulations for requiring paid tax preparers to have identification numbers to reduce tax preparer fraud, as well as how the IRS intends to handle enforcement of the new health insurance reform bill.