The Latest

A former project accountant at Tishman Construction has been indicted for stealing $2.8 million from the company in a phony invoicing scheme.

Business optimism remains at low levels, according to a new survey by Grant Thornton.

John Garrett went from being a CPA to touring the country as a standup comic, but he still regularly entertains audiences with jokes about accounting and taxes.

Accounting firm Weaver and Tidwell has introduced a financial services niche practice aimed at investment companies, including hedge funds and private equity firms.

A judge has granted permission for actor Wesley Snipes to travel to London and Bangkok so he can work on two upcoming films.

When I covered the restaurant industry, new establishments would routinely hold what they called “soft” openings.

The Securities and Exchange Commission has charged Microtune and two of the Plano, Texas-based technology company's former senior officers with stock options backdating.

The Governmental Accounting Standards Board has issued a new standard aimed at improving how state and local governments report information about derivative instruments in their financial statements.

U.S. corporations and accountants concerned over rising audit costs due to Sarbanes-Oxley requirements may soon have more to worry about — including another spike in audit charges as a result of the Public Company Accounting Oversight Board’s proposed new standard for engagement quality review.The stricter standard, which was initially proposed back in February and would apply to audits of public companies performed under PCAOB standards, is risk-based and designed to ease identification and speed correction of audit deficiencies prior to issuing the auditor’s report.

The Public Company Accounting Oversight Board issued the latest inspection report of Big Four firm Deloitte & Touche, noting problems with nine audits performed by the firm last year.With two unidentified clients, the PCAOB said that Deloitte failed to identify a departure from generally accepted accounting principles that it should have addressed before issuing its audit report. In both cases, the clients incorrectly concluded that interest rate swaps qualified for hedge accounting using the short-cut method in Statement of Financial Accounting Standards No. 133.