The Latest

The American Institute of CPAs submitted written testimony to Congress for a hearing by the House Small Business Committee on modernizing the Tax Code for small businesses. The House Small Business Committee issued a report containing seven recommendations for improving the Tax Code in conjunction with the hearings. The recommendations included simplifying the home office deduction, updating the equipment deduction limits and record-keeping requirements, adjusting the business automobile depreciation limits and shortening depreciation schedules.

A study of corporate audit committees finds that members increasingly expect their companies' internal auditors to focus on operational, strategic and business risks.

Accounting Today's eagerly anticipated Top 100 Firms report ranks the largest U.S. Accounting firms by revenue, offering both a wealth of statistical data and insightful analysis of what makes the best firms tick, as well as their plans for the future. This annual ranking includes a breakout of the biggest tax firms, and takes an in-depth look at what strategies the Top 100 are using to recruit and retain qualified staff in the current environment.

CPAs who conduct valuations in the normal course of their practices are now required to comply with detailed standards.

Suffering through a four-hour flight delay until 3 in the morning sounds pretty appealing after listening to someone who was shot in the head by terrorists who hijacked her plane.

The House Ways and Means Committee has approved a bill that would equalize the disclosure standards of tax preparers and their clients.

The Center for Audit Quality has issued a report on a recent meeting of the Treasury Department's Advisory Committee on the Auditing Profession.

New England regional accounting firm Vitale Caturano has acquired Jornata, a Boston-based technology solutions provider that specializes in Microsoft's SharePoint collaboration software.

The Securities and Exchange Commission is offering investors a new interactive tool for comparing the costs, risks, investment strategies and past performance of mutual funds using Extensible Business Reporting Language.

The Treasury Department has released a report on The Changing Nature and Consequences of Public Company Financial Restatements as part of an effort to encourage U.S. capital markets competitiveness.