The Latest

KPMG has established an IFRS Institute to address the needs of companies, investors and academics affected by the transition to International Financial Reporting Standards.

The Tax & Accounting business of Thomson Reuters has introduced an Enterprise Suite containing a set of software for large tax and accounting firms.

CPA firm Marcum & Kliegman has expanded into the executive search industry, launching M&K Executive Search.

People are cutting back on their spending to save money as the U.S. economy slows, according to a survey by Harris Interactive for the American Institute of CPAs.

A survey of accounting and finance professionals shows a decreasing level of confidence in the economy and the job market.

Harry Willner, a former Internal Revenue Service agent, was sentenced last week to a year in jail for a tax fraud scheme.

The Private Company Financial Reporting Committee, a joint effort of the Financial Accounting Standards Board and the American Institute of CPAs, is set to meet later this month.

“Keeping Retirement Plans Qualified” in the March issue of Practical Accountant was written just prior to the U.S. Supreme Court decision, LaRue v. DeWolff, in which the Court held that a participant in a defined contribution pension plan may sue a fiduciary under ERISA Section 502(a)(2) when claiming that a fiduciary breach caused a loss of plan assets allocated to the participant’s 401(k) plan account. It was pointed out in the article that employee benefit plan audits have now become not only financial statements, but also compliance audits. The Supreme Court opinion is further indication of that.

There’s was a great syndicated cartoon floating around recently that depicted a caricature of grinning Barack Obama who says, “The good news is that I’m going to tax the rich. The bad news is now, you’re all rich.”

The Senate Finance Committee proposed a new tax bill that seeks to prevent the alternative minimum tax from spreading to more taxpayers next tax season.