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IMGCAP(1)]IAS 39, “Financial Instruments: Recognition and Measurement,” is arguably the most complex of International Financial Reporting Standards.

The Securities and Exchange Commission has approved a new auditing standard that aims to toughen the requirements for concurring reviews of the work of audit teams.

Davis-Lynch, a Pearland, Texas-based maker of oil field equipment, had $14 million embezzled from the company accounts over a decade’s time, according to a federal lawsuit filed against 18 employees, including the head of the accounting department.

A bipartisan group of lawmakers in Congress plan to introduce legislation that would allow individuals who make charitable contributions to help victims of the earthquake in Haiti to claim an itemized charitable deduction on their tax return this year instead of waiting until next year.

The Internal Revenue Service took the right steps when it shut down its controversial private debt collection program last year, a government report concluded.

A new global survey by the International Federation of Accountants revealed that its members acted as advocates for small and midsize businesses, and for corporate governance and accounting reform, during the financial crisis.

The Internal Revenue Service has released the new form that eligible homebuyers need to claim the First-Time Homebuyer Credit this tax season and said that processing of those tax returns will begin in mid-February.

Ernst & Young is accelerating its greening efforts as the firm builds its sustainability practice.

Many companies are getting a jump on preparing for adoption of interactive data-tagging technology on their financial statements, even before they are subject to SEC requirements.

As Wall Street firms prepare to hand out record levels of bonuses, a group of lawmakers on Capitol Hill have co-sponsored a bill that would slap a 50 percent tax on many of the bonuses.