The Latest

Securities and Exchange Commission chief accountant Conrad Hewitt said SEC staff members planned to propose a date for mandating the use of International Financial Reporting Standards by public companies, but the date would not be confirmed for two years, giving accountants some extra leeway.

“How many of your firms have document management systems?”

A study by Grant Thornton found that only 843 U.S. corporations out of nearly 10,000 took advantage of a one-time dividend deduction that rewarded them for repatriating their foreign profits, giving them deductions totaling $265 billion.

Sage Software introduced Sage Pro ERP 7.5, an updated version of its business management software for small and midsized businesses.

Accounting firm RSM McGladrey is donating $10,000 to the American Red Cross to help with Midwest flood relief, while setting up a relief fund for its own employees.

Internet evangelist Bill Keller is challenging an Internal Revenue Service probe of his organization’s tax-exempt status.

The House passed a bill promising relief for another year from the spread of the alternative minimum tax, but the bill already faces opposition from the White House.

The House Ways and Means Select Revenue Measures Subcommittee held hearings on bills that would encourage employers to automatically enroll their employees in individual retirement account plans.

The International Accounting Standards Committee Foundation has released the IFRS Taxonomy 2008, a complete translation of International Financial Reporting Standards into Extensible Business Reporting Language.

The Internal Revenue Service should make several changes in its electronic filing system to address concerns raised by the American Institute of CPAs and others, according to two new reports.