The Latest

Employment in the private sector fell by 532,000 jobs in May, according to payroll figures from ADP.

The Financial Accounting Standards Board voted Wednesday to approve the FASB Accounting Standards Codification as the single authoritative, nongovernmental source of information on GAAP, with an official launch date set for July 1.

The majority of companies don’t plan to add more accounting and finance employees in the third quarter, according to a new survey.

Companies paid a bit more in audit fees in fiscal year 2008 compared to the previous year, according to a new survey.

Ed Nusbaum, who has been CEO of Grant Thornton’s U.S. member firm, Grant Thornton LLP, since 2001, will become CEO of Grant Thornton International on Jan. 1, 2010.

So far, just a few universities have been educating students in IFRS, which poses a potential problem – if colleges and universities don’t modify their curriculum it could impair the value of these students when they reach the job market, according to “Bridging the GAAP:

The Supreme Court has agreed to rule on the question of whether the Public Company Accounting Oversight Board as established under Sarbanes-Oxley violates the separation-of-powers doctrine and appointments clause of the Constitution. It’s not likely this is going to be one of those controversies that nominee Sonia Sotomayor will have to worry about discussing at great length during her confirmation hearings, but how about after she gets confirmed? One can only imagine how the transcript of the oral arguments might go.

CPA2Biz, the business arm of the American Institute of CPAs, has teamed up with the Sleeter Group, a small business and accounting software consultancy, to resell Bill.com’s online accounts payable service through Sleeter’s network of accountants and consultants.

Intuit has signed a deal to acquire online payroll service PayCycle for approximately $170 million in cash, boosting the accounting and tax software vendor’s presence in the payroll business.

IRS Commissioner Douglas Shulman laid out the Obama administration’s plans for cracking down on offshore tax evasion, including extending the statute of limitations.