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The American Institute of CPAs has begun investigating the accounting firm listed as the auditor of Bernard Madoff's investment management business after the firm told the institute for 15 years that it did not perform any audit work.

Accounting firm BDO Seidman has been sued in connection with the $50 billion Ponzi scheme run by Bernard Madoff's investment securities business, even though it wasn't Madoff's auditor.

Three of the remaining four defendants in the KPMG tax shelter case were convicted of tax evasion charges.

Despite dramatic changes in the accounting profession, nearly one in five corporate accounting departments are not planning to offer training to their accountants in the next two years, according to a new survey.

Tax executives in both the United States and other countries said they are spending more time than ever on risk management, according to a new survey.

A young accountant spends a week at his new office with the retiring accountant he is replacing.

President-elect Barack Obama has named Mary Schapiro as the next chairman of the Securities and Exchange Commission, replacing Christopher Cox.

A young accountant spends a week at his new office with the retiring accountant he is replacing. Each and every morning as the more experienced accountant begins the day, he opens his desk drawer, takes out a worn envelope, removes a yellowing sheet of paper, reads it, nods his head, looks around the room with renewed vigor, returns the envelope to the drawer, and then begins his day's work. After he retires, the new accountant can hardly wait to read for himself the message contained in the envelope in the drawer, particularly since he feels so inadequate in replacing the far wiser and more highly esteemed accountant. Surely, he thinks to himself, it must contain the great secret to his success, a wondrous treasure of inspiration and motivation. His fingers tremble anxiously as he removes the mysterious envelope from the drawer and reads the following message: "Debits in the column toward the file cabinet. Credits in the column toward the window."

Buying things over the Internet and not having to pay taxes has come to almost feel like a birthright. Except, of course, it’s not.

CBIZ is acquiring Tofias in a deal estimated at $55 million as the accounting provider expands its reach across the Northeast to the New England area.