The Latest

There continue to be rumblings that Congress may repeal the LIFO accounting method for inventory.

The IRS’s ability to detect identity theft-related refund and employment fraud is limited, but by the end of 2008, the IRS had cataloged over 50,000 incidents, according to a report by the Government Accountability Office.

AmerInst Insurance Group plans to offer professional liability insurance to accounting firms through an agreement with some of Crum & Forster Holdings’ insurance companies.

The staffing level of internal audit departments was hurt badly by the recession, but the worst might be over, according to a new survey.

The IRS is unable to determine if it is issuing erroneous or fraudulent manual refunds to taxpayers, according to a new report.

BusinessWeek published an interesting article last week regarding Deloitte’s new strategy of recruiting minorities at community colleges in an effort to bring more diversity to the firm – a good thing, since of the 4,500 partners and top executives at Deloitte, 92 percent are white.

IMGCAP(1)]Despite the major challenges the economy has posed for small businesses and their accountants, this difficult period may actually serve the profession well over the long term.

Sage Software is distributing free copies of Peachtree Accounting to small businesses that have been affected by the recent floods in Atlanta.

NCH Software has released Express Accounts, a small business accounting software package designed for non-accountants with updated applications for cash flow and invoicing.

BookKeeping Express has introduced BKE EDocs, a document management system aimed at small to midsized businesses.