The Latest

The Securities and Exchange Commission has filed fraud charges against a health care financial services company after it allegedly provided investors with forged financial statements and audit reports to lure them into a $75 million investment scheme.

Officials from the Security and Exchange Commission and the Public Company Accounting Oversight Board cautioned a group of auditors against placing too much reliance on specialists hired for their expertise in areas such as fair value measurement.

Intuit has sold its real estate management software business to Vista Equity Partners for approximately $128 million in cash.

The House Financial Services Committee has approved legislation aimed at preventing the failure of large financial institutions from turning into a systemwide crisis.

Private sector businesses cut 169,000 jobs last month, according to the latest employment report by payroll giant ADP, but that was the eighth consecutive month in which the decline in employment was less than in the previous month.

The Ernst & Young Foundation will direct an additional $1 million towards further development of International Financial Reporting Standards curriculum. These funds will help to expand the work of the Ernst & Young Academic Resource Center, which was launched in the summer of 2008.

Businesses will have to act soon on a bevy of tax breaks before they expire at the end of the year.

The Certified Financial Planner Board of Standards has appointed three new members to its board of directors.

The Virginia Society of CPAs has produced a free Financial Fitness Calendar for next year.

New Jersey accounting firm Cowan, Gunteski & Co., is merging in Woolston, Koerner & Co., building their combined presence in the Garden State.