The Latest

The Senate Finance Committee held a hearing on the use of offshore corporate tax shelters in the Cayman Islands, on the heels of hearings elsewhere in the Senate on individual tax havens in Switzerland and Liechtenstein.

The New York State Society of CPAs submitted comments to the Securities and Exchange Commission on the proposed requirement for filing financial statements in Extensible Business Reporting Language, saying it makes sense for the 500 largest companies to file in XBRL by the end of the year, but that smaller companies should not be held to any deadline just yet.

Small businesses are especially likely to fall victim to occupational fraud, according to a new report released by the Association of Certified Fraud Examiners.

The Financial Accounting Standards Board has decided to defer the development of a new accounting model for lessors, saying the project will now only address lessee accounting.

Seventeen years ago, members of the California Society of CPAs were grappling with the problem of how to deal with the large number of databases in an accounting office.

Deloitte Touche Tohmatsu reported that its aggregate member firm revenue increased by 18.6 percent in U.S. dollars, and 13.0 percent in local currencies, to $27.4 billion in fiscal 2008.

The Howard University School of Business’s Center for Accounting Education recently held a weeklong program to improve the retention and advancement of young African American accountants and increase the numbers passing the CPA Exam early in their career.

The American Institute of CPAs has named two recipients of its Outstanding CPA in Government Award and said it has leased more than half its office space in New Jersey.

John Gimigliano, former senior tax counsel of the House Ways and Means Committee and staff director of the Subcommittee on Select Revenue Measures, has joined KPMG.

Executive CPA leaders from 81 of the top 100 accounting firms in the U.S. visited Capitol Hill to discuss some of the key legislative issues confronting the accounting profession.