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Among the many cases of financial statement fraud that have hit the marketplace, one of the most intriguing is Satyam Computer Services’ $1.1 billion vanishing cash hoard.

An Internal Revenue Service employee has been charged with illegally accessing IRS computers to obtain information on taxpayers and filing false tax returns in their names.

"Going green" has evolved beyond a trendy catchphrase — it has paid financial dividends and has often helped bridge the generational gap at CPA firms. Read what some firms are doing to save resources and show their respect for the environment in today's story.

During his first month in office President Obama seemed to spend a good deal of time comparing his actions and polices to another famous Illini who got himself elected president — Abraham Lincoln.

Senate Finance Committee Chairman Max Baucus, D-Mont., has announced legislation that would make existing tax breaks permanent for working families and individuals.

As part of its plan to generate intelligence on accountants, bankers and lawyers who help clients evade U.S. taxes by hiding money in offshore accounts, the Internal Revenue Service will grant leniency to those who volunteer to pay taxes on overseas accounts in exchange for information on who aided them in hiding the money.

In the current recession, an extended period of unemployment for top managers no longer carries the stigma it previously did, as a recent survey of executives said that on average, a senior manager could be jobless for as long as nine months before their careers became adversely affected.

The American Institute of CPAs has published Disaster Recovery: A Guide to Financial Issues, in cooperation with the American Red Cross and the National Endowment for Financial Education.

Executives from the nation’s largest banks pledged their cooperation and commitment to President Obama and his administration in order to begin the recovery process.

President Obama and his top economic advisors have determined that neither General Motors nor Chrysler have put forth acceptable plans to receive more bailout funds, which could effectively shut down the two auto giants.