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Tough economic times aren’t getting everyone down. Some companies are even capitalizing on it.

The House Committee on Oversight and Government Reform held hearings on the role of hedge funds in the financial crisis and whether they should be more strictly regulated.

International Accounting Standards Board Chairman Sir David Tweedie said he nearly resigned before giving in to pressure from European regulators to modify fair value accounting standards to allow banks to reclassify their assets.

The Internal Revenue Service is doling out nearly $8 million in matching grants to groups around the country participating in its Volunteer Income Tax Assistance program.

"Women have been in the profession in equal numbers to men for more than 20 years, yet women represent just 19 percent of the U.S. public accounting shareholder/partner population."

CCH has introduced two online tax research products for solo practitioners and small to midsized CPA firms.

H.D. Vest Financial Services is offering remote check scanning and depositing services to its network of financial planning advisors.

The Treasury Department’s financial rescue plan has quickly provoked controversy in the month since it was passed, not least because of an IRS rule change that could well violate the Tax Code.

The International Accounting Standards Committee Foundation has written a letter to President Bush asking him and other world leaders to respect fair value accounting and the standards-setting process.

The American Institute of CPAs has written to the Securities and Exchange Commission urging it to allow the Financial Accounting Standards Board to continue to set standards for mark-to-market accounting.