The Latest

ILumen has launched the iLumen Online Business Community, a service designed to combine online social networking features with iLumen's financial analysis capabilities.

Automatic Data Processing's Small Business Services division released an online payroll system aimed at accountants who service small businesses.

Deloitte Touche Tomatsu said its aggregate member firm revenue increased by a record 15.5 percent to $23.1 billion for the fiscal year ended May 31.

Sage Software has selected a list of top-producing business partners for 2007.

It finally happened: The first Baby Boomer applied for Social Security this week. Kathleen Casey-Kirschling, a former teacher who was born at one second after midnight on Jan. 1, 1946, applied for Social Security benefits over the Internet, starting what is likely to be an avalanche of applications for retirement benefits.

The House of Representatives has overwhelmingly approved a four-year extension on the ban on Internet access taxes, voting on a 405-2 margin.

Nortel Networks has agreed to pay $35 million to settle accounting fraud charges with the Securities and Exchange Commission.

The Public Company Accounting Oversight Board has approved amendments that would reduce the frequency of inspections of accounting firms that do not regularly issue audit reports.

Scandal-scarred health care provider HealthSouth scored $440 million in a tax recovery from the Internal Revenue Service despite the company's acknowledgment of financial fraud.

Chief financial officers and senior comptrollers want more options for selecting audit firms, according to a survey released by one of those auditing firms, Grant Thornton.