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Sen. Chuck Grassley, R-Iowa, has asked Fannie Mae and Freddie Mac to account for their retention bonus programs while the entities were losing money and even after they accepted taxpayer-funded bailouts.

Audits by the Internal Revenue Service of the tax returns of millionaires nosedived in the just-ended fiscal year, according to a new report.

Financial planning and reporting services provider Adaptive Planning has become a charter member of NetSuite’s SuiteCloud developer network — a multi-tiered program for software developers to leverage their offerings with NetSuite’s online core business products.

Big Four Firm Ernst & Young has given Bentley University a $400,000 grant to revamp the school’s accountancy and finance curriculum.

The Congressional Budget Office has revised its projection of the 2009 deficit, adding another $400 million and bringing the total to a numbing $1.7 trillion.

The Obama administration has revealed the latest measure in its colossal financial rescue plan, enticing private investors to buy up to $1 trillion in troubled assets carried by banks.

Financial restatements in 2008 dipped 49 percent from the prior year, the lowest level in the past five years, according to a report compiled by proxy researcher Glass Lewis.

Global CPA and business-advisory firm Grant Thornton is gearing to launch a new practice unit — hedge fund internal control, governance and regulatory compliance services.

When Ashly Bower's mother graduated from Bowling Green State University in 1979, she was one of only a few accounting students at the Ohio school. The younger Bower started helping her mom with tax work in the sixth grade. Now at 23, Bower is poised to be the fourth generation of CPAs in her family, starting with her maternal great-grandfather. She is a student ambassador for the Ohio Society of CPAs and speaks with students about accounting, dispelling myths and explaining what it takes to become a CPA.Her profile appears in a story by Brandi Barhite in the Toledo Free Press: http://tinyurl.com/co3dvj

When Ashly Bower’s mother graduated from Bowling Green State University in 1979, she was one of only a few accounting students at the Ohio school.